Privacy Policy

SIHOR MERCANTILE CO-OPERATIVE BANK LTD.

Mobile Banking Terms & Conditions

Welcome to Mobile Banking Service of SIHOR MERCANTILE CO-OPERATIVE BANK LTD. With mobile banking services, enjoy easy, fast, and round-the-clock banking at the palm of your hand. The service is available on Android devices.

Mobile Banking Terms & Conditions for Users

Our customers can enable this service by following these easy steps:

Step 1

If you are an existing bank customer, kindly fill in the Mobile Banking registration form with relevant details and submit the same to your nearest branch. For new customers, select the option to enable mobile banking services during account opening.

Step 2

Upon verification of your form (which may take up to 72 business hours), you will receive an SMS on your registered mobile number requesting you to download the mobile banking application.

Step 3

Download and install the Mobile Banking application from your device’s app store:

• Android Devices – Google Play Store

Step 4

Complete the new user registration process from the Bank’s mobile application.

Step 5

Start enjoying Mobile Banking services.

Definitions

• Account: Refers to the savings/current account held by SIHOR MERCANTILE CO-OPERATIVE BANK LTD customers.
• Alert: Customized messages sent through SMS notifications.
• Application: The Bank’s Mobile Banking application downloaded on the customer’s mobile device.
• Beneficiary: Person receiving funds transferred by the remitter.
• Customer: Account holder of SIHOR MERCANTILE CO-OPERATIVE BANK LTD.
• GPRS: General Packet Radio Service used for internet access on mobile devices.
• IFSC: Indian Financial System Code identifying a bank branch.
• IMPS: Immediate Payment Service for inter-bank fund transfer.
• MB: Mobile Banking service provided by SIHOR MERCANTILE CO-OPERATIVE BANK LTD.
• MMID: Mobile Money Identifier linked to customer account.
• MPIN: Security password used for Mobile Banking authentication.
• NPCI: National Payments Corporation of India.
• OTP: One Time Password generated for authentication.
• P2P: Person-to-Person fund transfer.
• P2A: Person-to-Account fund transfer.

Applicability

This policy is applicable to personal information and sensitive personal data collected directly from customers or through the Bank’s online portals, mobile applications, and electronic communications.

Purpose of Collection and Use of Personal Information

The Bank collects and uses financial and personal information from customers for lawful business purposes, regulatory compliance, customer identification, transaction processing, fraud prevention, and service enhancement.

The Bank shall not disclose customer information for unauthorized purposes and will maintain confidentiality as per applicable laws and RBI guidelines.

Disclosure of Personal Information

Customer information may be disclosed only:

• Where disclosure is required by law or regulatory authorities.
• Where consent has been provided by the customer.
• To authorized third-party service providers for banking operations under confidentiality obligations.

Security Practices and Procedures

The Bank adopts reasonable security practices and procedures to safeguard customer information against unauthorized access, misuse, alteration, or disclosure.

Security measures include:

• Encryption standards
• Secure authentication mechanisms
• Access controls
• Monitoring and logging systems

Customers are advised not to share passwords, OTPs, or MPIN with anyone.

Terms and Conditions Applicable to Mobile Banking

By using Mobile Banking services, the customer agrees:

1. To download the official mobile banking application only from authorized app stores.
2. To provide valid customer identification details for authentication.
3. That transactions initiated through Mobile Banking are irrevocable.
4. Not to use the service for illegal or unauthorized activities.
5. To immediately inform the Bank in case of mobile loss, theft, SIM swap, or suspected compromise.
6. Not to share login credentials, MPIN, or OTP with anyone including Bank staff.
7. To operate within transaction limits prescribed by the Bank.
8. To accept modifications or updates in service terms as communicated by the Bank.

General Business Rules Governing Mobile Banking Service

• Mobile Banking services are available to eligible Savings, Current, and Cash Credit account holders.
• Daily transaction limits shall be governed by Bank policy and RBI guidelines.
• Incorrect password/OTP entries may result in temporary blocking of services.
• Customers may request de-registration by submitting a written request at the branch.
• The Bank reserves the right to suspend or terminate services for security, maintenance, or regulatory reasons.
• Changes in limits, features, or processes shall be updated on the Bank’s website.

Usage of Service

By registering for Mobile Banking, the customer:

• Authorizes the Bank to process transactions authenticated through MPIN/OTP.
• Accepts that transactions are real-time and non-retractable.
• Agrees to use the service only through the registered mobile number.
• Accepts responsibility for all instructions transmitted from the registered device.
• Acknowledges that authentication methods used by the Bank shall be binding on the customer.

General Terms and Conditions

• The Bank reserves the right to add, modify, or discontinue any Mobile Banking service.
• Customers are responsible for understanding the usage process.
• Transaction records maintained by the Bank shall be considered final and conclusive.
• Telecom or internet service provider charges shall be borne by the customer.
• Service availability depends on telecom networks, internet connectivity, and system availability.

Information Accuracy

Customers are responsible for providing accurate and updated information to the Bank.

The Bank shall not be liable for losses arising from incorrect information submitted by customers.

Responsibilities and Obligations of the Customer

The customer shall:

• Keep MPIN, passwords, and OTP confidential.
• Ensure the security of the mobile device and SIM card.
• Notify the Bank immediately in case of unauthorized access or suspected fraud.
• Be responsible for all transactions carried out through the registered mobile number.
• Regularly review notifications and account activity.

Disclaimer

The Bank shall not be liable for:

• Delays or failures caused by telecom networks, internet connectivity, or system interruptions.
• Unauthorized access due to customer negligence.
• Technology failures, power disruptions, or third-party service interruptions.
• Losses resulting from misuse of customer credentials.

Indemnity

The customer agrees to indemnify and keep indemnified SIHOR MERCANTILE CO-OPERATIVE BANK LTD against all claims, losses, liabilities, costs, and expenses arising from the use or misuse of Mobile Banking services.

Confidentiality and Disclosure

The Bank may share customer information with authorized affiliates, auditors, service providers, regulators, and government authorities where required for Mobile Banking operations or regulatory compliance.

Termination

The Bank reserves the right to terminate or suspend Mobile Banking services at its discretion without prior notice in case of security concerns, policy violations, or regulatory requirements.

Governing Law

Any dispute arising out of Mobile Banking services shall be subject to the exclusive jurisdiction of the competent courts.