![]() ![]() ![]() In its latest circular (dated April 6, 2018), the RBI has directed that the entities that it regulates shall not deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs. Reserve Bank of India has a clear stance on Virtual Currencies (VCs) – that these currencies do not have any regulatory permission or protection in India. The Bank may be required to abide by the rules and regulations of self-regulatory bodies, to which the Bank is or maybe affiliated, statutory/regulatory authorities and the Customer agrees that he may also be required to abide by such rules and regulations as may be advised/specified. The Customer may within a period of fifteen (15) days from the issue of the notice close the Account or discontinue availing of Service, failing which he shall be deemed to have accepted the change from the effective date mentioned in the notice or from the date as may be specified by the applicable law. Such communication and notices would have the same effect as a notice served individually to each Customer. The Bank may publish notices of general nature, which are applicable to the Customers on Bank's Website or on its notice board or in any other mode as may be decided by the Bank. The Customer acknowledges and agrees that the Bank may at its sole discretion add to, modify or amend the Terms (including the Charges) from time to time and such changes shall be communicated to the Customer by display in the Bank premises or on the website, but individual communication may not be sent to him. The Terms shall be available at the Bank branches. In the event of any of these terms and conditions being contrary to those specified therein, the terms and conditions as specified in such other document(s) in respect of a particular Account/ Service/ situation/ circumstance/ transaction as the case may be will prevail over these terms and conditions. as may apply to a particular Account/ Service/ situation/ circumstance/ transaction. These terms and conditions are in addition to the terms and conditions as may be specified in any document/facility documents etc. The Terms may be read as a stand-alone document or may be read with such other documents/terms as may apply to a particular Account/ Service/ situation/ circumstance/ transaction. Following are the terms, conditions and rules ("Terms"), which shall be applicable to all Current (including Overdraft Accounts), Savings, Term Deposit and DEMAT Account(s) (collectively referred to as 'Accounts') with any of the branches of the Bank and the 'Services' offered by the Bank.
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