ABOUT AXIS BANK Axis Bank was the first of the new private banks
to have begun operations in 1994, after the Government of India
allowed new private banks to be established. The Bank was promoted
jointly by the Administrator of the specified undertaking of the
Unit Trust of India (UTI - I), Life Insurance Corporation of India
(LIC) and General Insurance Corporation of India (GIC) and other
four PSU insurance companies, i.e. National Insurance Company Ltd.,
The New India Assurance Company Ltd., The Oriental Insurance
Company Ltd. and United India Insurance Company Ltd. The Bank today
is capitalized to the extent of Rs. 406.94 crores with the public
holding (other than promoters and GDRs) at 54.55%. The Bank's
Registered Office is at Ahmedabad and its Central Office is located
at Mumbai. The Bank has a very wide network of more than 1000
branches and Extension Counters (as on 31st May 2010). The Bank has
a network of over 4397 ATMs (as on 31st May 2010) providing 24 hrs
a day banking convenience to its customers. This is one of the
largest ATM networks in the country. The Bank has strengths in both
retail and corporate banking and is committed to adopting the best
industry practices internationally in order to achieve
excellence.
Promoters Axis Bank Ltd. has been promoted by the largest and
the best Financial Institution of the country, UTI. The Bank was
set up with a
capital of Rs. 115 crore, with UTI contributing Rs. 100 crore,
LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing
Rs. 1.5 crore each. SUUTI - Shareholding 23.89% Erstwhile Unit
Trust of India was set up as a body corporate under the UTI Act,
1963, with a view to encourage savings and investment. In December
2002, the UTI Act, 1963 was repealed with the passage of Unit Trust
of India (Transfer of Undertaking and Repeal) Act, 2002 by the
Parliament, paving the way for the bifurcation of UTI into 2
entities, UTI-I and UTI-II with effect from 1st February 2003. In
accordance with the Act, the Undertaking specified as UTI I has
been transferred and vested in the Administrator of the Specified
Undertaking of the Unit Trust of India (SUUTI), who manages assured
return schemes along with 6.75% US-64 Bonds, 6.60% ARS Bonds with a
Unit Capital of over Rs. 14167.59 crores. The Government of India
has appointed Shri K. N. Prithviraj as the Administrator of the
Specified undertaking of UTI, to look after and administer the
schemes under UTI - I, where Government has continuing obligations
and commitments to the investors, which it will uphold.
Board of Directors The members of the Board are : Dr. Adarsh
Kishore Smt. Shikha Sharma Shri M. M. Agrawal Shri J.R. Varma Dr.
R.H. Patil Smt. Rama Bijapurkar Shri R.B.L. Vaish Shri M.V. Subbiah
Shri K. N. Prithviraj Shri V. R. Kaundinya Shri S. B. Mathur
Non-Executive Chairman Managing Director & CEO Deputy Managing
Director Director Director Director Director Director Director
Director Director
Shri M. S. Sundara Rajan Director
Vision 2015 and Core Values VISION 2015: To be the preferred
financial solutions provider excelling in customer delivery through
insight, empowered employees and smart use of technology Core
Values Customer Centricity Ethics Transparency
Teamwork Ownership
Compensation Policy Objective of the Policy The objective of
this policy is to establish a system whereby the Bank compensates
the customer for the financial loss the customer could incur due to
deficiency in service on the part of the Bank or any act of
omission or commission directly attributable to the Bank.
Scope of the Policy The policy is based on the principles of
transparency and fairness in the treatment of customers. It is
designed to compensate the customer only for the financial loss
incurred by the customer due to deficiency in the services offered
by the Bank which can be measured directly and limited to the
compensation specified for the respective service as given below.
The date of receipt of complaint/notice by the Bank would be taken
as day 'zero' and the timelines mentioned would be counted from the
next working day onwards. The commitments under this policy are
without prejudice to any right the Bank will have in defending its
position before any Court of Law, Tribunal or forum duly
constituted to adjudicate banker-customer disputes. The policy
document covers the following aspects: a. Erroneous debiting of
account b. Debits towards service charges c. Payment of cheques
after acknowledgement of stop payment instructions d. Payment of
interest to customers for delayed collection of instruments
e. Handling of instruments lost in transit f. Funds transfers
using NEFT/RTGS g. Foreign exchange services - Collection of
cheques outside India denominated in Foreign Currency h. Failure to
execute standing instructions i. Reversal of erroneous debits
arising on account of fraudulent transactions j. Violation of the
Code by banks agent k. Transaction of 'at par instruments' of
Cooperative Banks by Commercial Banks
Erroneous debiting of account If the Bank has raised an
erroneous direct debit to an account, upon being informed of the
erroneous debit, the entry will be reversed after due verification.
In the event the erroneous debit has resulted in a financial loss
to the customer by way of reduction in the minimum balance
applicable for payment of interest on savings bank deposit or
payment of additional interest to the Bank in a loan account or any
charges levied for balance falling below the minimum balance
requirement or any charges levied for return of cheques due to
shortfall in balance, the Bank will compensate the customer to the
extent of direct financial loss. The customer should approach the
Bank within a maximum period of six months from the date of the
erroneous debit. In case verification of the entry reported to be
erroneous by the customer does not involve a third party, the Bank
shall complete the process of verification within a maximum period
of 7 working days from the date of reporting of erroneous debit. In
case verification involves a third party, the Bank shall complete
the verification process within a maximum period of
one month from the date of reporting of erroneous transaction by
the customer. The Bank reserves its right to debit the account for
reversing the amounts in case a wrong credit is posted to a
customer's account without payment of any compensation. In respect
of credit card operations if a customer protests any charges /
transaction done on merchant establishment, the Bank would give him
sufficient explanation and copy of charge slip, if required, within
60 days, provided the dispute/protest is raised within 60 days of
transaction date and the required charges for locating the charge
slip are paid. The Bank would debit the customer's account with any
applicable service charge as per the schedule of charges notified
by the Bank. In the event, the Bank levies any charges in violation
of the arrangement, the Bank will reverse the same when pointed out
by the customer subject to verification of the agreed terms and
conditions. Any consequential financial loss by way of loss of
savings bank interest on account of reduction in the minimum
balance applicable for payment of interest on savings bank deposit
or payment of additional interest to the Bank in a loan account or
any charges levied for balance falling below minimum balance
requirement or any charges levied for return of cheques due to
shortfall in balance, will also be compensated to the customer.
Where it is established that the Bank has issued an unsolicited
credit card, the Bank would not only reverse the charges
immediately but also pay compensation without demur to the
recipient amounting to twice the value of charges reversed. Charges
will include only those charges that are levied to the customer
only when no transactions have been done on the card and such
charges have been actually recovered from the customer. Debits
towards service charges The Bank would debit the customer's account
with any applicable service charge as per the schedule of charges
notified by the Bank. In the event, the Bank levies any charges in
violation of the arrangement, the Bank will reverse the same when
pointed out by the customer subject to verification of the agreed
terms and
conditions. Any consequential financial loss by way of loss of
savings bank interest on account of reduction in the minimum
balance applicable for payment of interest on savings bank deposit
or payment of additional interest to the Bank in a loan account or
any charges levied for balance falling below minimum balance
requirement or any charges levied for return of cheques due to
shortfall in balance, will also be compensated to the customer.
Where it is established that the Bank has issued an unsolicited
credit card, the Bank would not only reverse the charges
immediately but also pay compensation without demur to the
recipient amounting to twice the value of charges reversed. Charges
will include only those charges that are levied to the customer
only when no transactions have been done on the card and such
charges have been actually recovered from the customer.
Debits towards service charges The Bank would debit the
customer's account with any applicable service charge as per the
schedule of charges notified by the Bank. In the event, the Bank
levies any charges in violation of the arrangement, the Bank will
reverse the same when pointed out by the customer subject to
verification of the agreed terms and conditions. Any consequential
financial loss by way of loss of savings bank interest on account
of reduction in the minimum balance applicable for payment of
interest on savings bank deposit or payment of additional interest
to the Bank in a loan account or any charges levied for balance
falling below minimum balance requirement or any charges levied for
return of cheques due to shortfall in balance, will also be
compensated to the customer. Where it is established that the Bank
has issued an unsolicited credit card, the Bank would not only
reverse the charges immediately but also pay compensation without
demur to the recipient amounting to twice the value of charges
reversed. Charges will include only those charges that are levied
to the customer only when no transactions have been done on the
card and such charges have been actually recovered from the
customer.
Payment of Cheques after acknowledgement of Stop Payment
Instructions In case a cheque has been paid after the Bank
acknowledges stop payment instruction, the transaction shall be
reversed within 2 working days of the customer intimating the
transaction to the concerned branch. Interest, if eligible, will
also be paid at the savings bank interest rate Collection of
instruments within India In case of outstation cheques and other
instruments sent for collection to centers within the country, the
following time schedule shall be adhered to for realization by
branches: Sr. Cheque Type Time Norms No. Remarks
1
Same day clearing. Applicable to areas covered by Applicable on
High Value Clearing. the days Local Cheque when High Both,
Presenting Bank and - High Value Value Drawee Bank should be
Clearing is participants of high value clearing made session.
available. Local Cheque - Non-High Value as well On settlement as
cheques of funds. not covered in Item (1.) above. Outstation
cheques drawn on all Seven working days For local cheques presented
in clearing, credit will be afforded as on the date of settlement
of funds in clearing and the account holder will be allowed to
withdraw funds once the return clearing cycle is complete and clear
credit is available in customer account. Working days shall not
include Bank Holidays and days when clearinghouse is not
operational.
2
3
state capitals Outstation cheques drawn in all major cities
(List of the major cities appended)
Working days will be considered at both the ends/centers.
4
Ten working days
- do -
5
Outstation cheques Banks will have to depend on the Fourteen
drawn on all correspondent/drawee banks for working days other this
purpose. locations. In case there is a delay in realization beyond
the timelines mentioned above, The Bank will pay interest to the
customer on the amount of collection instruments. Such interest
shall be paid without any demand from customers in all types of
accounts. There will be no distinction between instruments drawn on
the Bank's own branches or on other banks for the purpose of
payment of interest on delayed collection except for reasons which
are beyond the control of the Bank. Interest payments would be
applicable only for instruments (drawn in INR) sent for collection
within India. Scenario Interest rate
Sr. No.
Cheque deposit in operative and loan accounts 1 Delay* upto 30
days Savings Bank Interest Rate
2
Fixed Deposit Interest Rate would be payable after the expiry of
the 30 days mentioned above Delay beyond upto the date of actual
credit. 30 days The rate applicable would be the rate of interest
prevailing on the date of the deposit of cheque.
To view the list of major cities where oustation cheques can be
drawn, please click here.
*Delay would be calculated from the date of expiry of turnaround
time indicated in the table on timeframe for collection of
local/outstation instruments.
Handling of instruments Lost-in-transit The Bank would observe
the following policy in case of cheques lost in transit: a. In the
event a cheque or an instrument accepted for collection is lost in
transit or in the clearing process or at the paying Bank's branch,
the Bank shall immediately on coming to know of the loss, bring the
same to the notice of the account holder so that the account holder
can inform the drawer to record stop payment and also take care
that cheques, if any, issued by him/her are not dishonoured due to
non-credit of the amount of the lost cheques/instruments. b. If the
cheque/instrument has been lost at the paying bank's branch, the
collecting branch will have a right to recover the amount,
including charges / interest expenses reimbursed to the customer
for the loss of the cheque/instrument from the paying banker. c.
The Bank would provide all assistance to the customer to obtain a
duplicate instrument from the drawer of the cheque. This would be
applicable only to instruments drawn in INR payable within India.
d. The Bank will compensate the account holder in respect of
instruments lost in transit as follows and will recover it from the
paying bank. i. In case intimation regarding loss of instrument is
conveyed to the customer after the time limit stipulated for
collection (7/10/14 days as the case may be) interest will be paid
for the period exceeding the stipulated collection period at the
rates specified above.
ii. In addition, the Bank will pay interest on the amount of the
cheque for a period of 15 days at savings bank rate to provide for
likely further delay in obtaining duplicate cheque/instrument and
collection thereof. iii. The Bank would also compensate the
customer for any reasonable charges he/she incurs in getting
duplicate cheque/instrument upon production of receipt, in the
event the instrument is to be obtained from a bank/institution who
would charge a fee for issue of duplicate instrument. Funds
transfers using NEFT/RTGS The rate of compensation in case of
delays in crediting the remittance proceeds received through
NEFT/RTGS beyond one day after receipt of the message at our
gateway shall be at the prevailing REPO rate Foreign Exchange
Services - Collection of cheques outside India denominated in
Foreign Currency It is the Bank's experience that the time norms
for collection of instruments drawn on banks in foreign countries
differ from country to country and even within a country, from
place to place. The time norms for return of instruments cleared
provisionally also vary from country to country. Therefore, no
compensation shall be paid for any delay in collection of cheques
designated in foreign currencies and sent to foreign countries. The
Bank will compensate the customer only for undue delays in
affording credit once proceeds are credited to the Nostro Account
of the Bank with its correspondent with full particulars. The
compensation in such cases will be restricted to the extent of
eligible Savings Bank Interest Rate which shall be calculated for
the period after taking into account the normal cooling period
stipulated (Cooling period is maximum 16 international working days
from the value date of credit in our Nostro Account with the
Correspondent Bank). The foreign exchange rate on the date of
credit in our Nostro Account shall be the basis for calculation of
interest irrespective of the rate prevailing on the date of claim /
calculation / settlement
Failure to execute Direct Debits / ECS Debits/ Standing
Instructions The Bank undertakes to carry out Direct Debits / ECS
debits / standing instructions of customers in time subject to the
following: 1. Customer having already provided valid and complete
mandate to accept any debit received through ECS. 2. Customer
having already submitted a mandate for standing instructions. 3.
Direct debit/ ECS received is complete and correct. 4. Customer has
sufficient balance in the account at the time of executing direct
debits/ standing instructions/ ECS. In case of failure to carry out
the instructions subject to the aforesaid clauses and for reasons
directly attributable to the Bank, the Bank will compensate the
customers on the following lines: For direct debits / ECS debits -
The Bank shall compensate the customer at the savings bank interest
rate for the period between the due date of direct debit / ECS
debit and the date of actual debit carried out by the bank. The
Bank shall also reimburse the Customer to the extent of any penal
interest, late payment charges levied by the debit/ ECS originating
Bank, upon producing evidence of the same. For standing
instructions - The Bank shall compensate the customer to the extent
of the financial loss not exceeding Rs. 100 per occasion subject to
providing proper supporting documents for having incurred the loss.
In addition, the service charges, if any, recovered for execution
of the Standing Instruction shall also be refunded Reversal of
erroneous debits arising on account of fraudulent transactions In
case of any fraud, if the Bank is convinced that an irregularity /
fraud has been committed by its staff towards any constituent it
would acknowledge its liability and pay the just claim.
In cases where the Bank is at fault, it shall compensate the
customer without demur. In cases where neither the Bank nor the
customer is at fault, but the fault lies elsewhere in the system,
the Bank would compensate the customer for an amount of 25% of the
loss incurred by the customer subject to an upper limit of Rs.
25,000/- subject to the customer providing proper supporting
document for having incurred the loss. Violation of the Code by
banks agent In the event of receipt of any complaint from the
customer that the Bank's representative / courier or DSA has
engaged in any improper conduct or acted in violation of the Code
of Bank's Commitment to Customers, which the Bank has adopted
voluntarily, the Bank will take appropriate steps to investigate
and to handle the complaint and to compensate the customer for
financial losses, subject to the customer providing proper
supporting document for having incurred the loss. Award of
Compensation The compensation shall be paid by replicating the
effect obtained through back-valuation of the affected transaction.
The compensation as per this Policy is payable to a customer only
in those cases where any act of omission or commission is directly
attributable to the Bank. No claim would be considered, under any
circumstance, based on qualitative aspects like reputation damages,
loss of image in the society, loss of business, loss of income,
etc. The amount of compensation is restricted to the actual
financial loss of the customer arising out of the amount in the
books of the Bank only and in any case, to the maximum limits
prescribed for the various services given above. Force Majeure The
Bank shall not be liable to compensate customers for delayed
credit/non-availability of any service, if some unforeseen event
(including but not limited to civil commotion, sabotage, accident,
fire, natural disasters or other "Acts of God", war, damage to the
Bank's facilities or of its correspondent bank(s), absence of the
usual means of communication or all types of transportation, etc.)
beyond the
control of the Bank which may prevent it from performing its
obligations within the specified service delivery parameters Policy
on Bank Deposits Preamble One of the important functions of the
Bank is to accept deposits from the public for the purpose of
lending. In fact, depositors are the major stakeholders of the
Banking System. The depositors and their interests form the key
area of the regulatory framework for banking in India and this has
been enshrined in the Banking Regulation Act, 1949. The Reserve
Bank of India is empowered to issue directives / advices on
interest rates on deposits and other aspects regarding conduct of
deposit accounts from time to time. With liberalization in the
financial system and deregulation of interest rates, banks are now
free to formulate deposit products within the broad guidelines
issued by RBI. This policy document on deposits outlines the
guiding principles in respect of formulation of various deposit
products offered by the Bank and terms and conditions governing the
conduct of the account. The document recognises the rights of
depositors and aims at dissemination of information with regard to
various aspects of acceptance of deposits from the members of the
public, conduct and operations of various deposits accounts,
payment of interest on various deposit accounts, closure of deposit
accounts, method of disposal of deposits of deceased depositors,
etc., for the benefit of customers. It is expected that this
document will impart greater transparency in dealing with the
individual customers and create awareness among customers of their
rights. The ultimate objective is that the customer will get
services they are rightfully entitled to receive without
demand.
While adopting this policy, the bank reiterates its commitments
to individual customers outlined in Bankers' Fair Practice Code of
Indian Banks' Association. This document is a broad framework under
which the rights of common depositors are recognized. Detailed
operational instructions on various deposit schemes and related
services will be issued from time to time Types of Deposit Accounts
While various deposit products offered by the Bank are assigned
different names. The deposit products can be categorised broadly
into the following types.
"Demand deposits" means a deposit received by the Bank which is
withdrawable on demand. "Savings deposits" means a form of demand
deposit which is subject to restrictions as to the number of
withdrawals as also the amounts of withdrawals permitted by the
Bank during any specified period. " Term Deposit" means a deposit
received by the Bank for a fixed period withdrawable only after the
expiry of the fixed period and include deposits such as
Recurring/Reinvestment Income Certificate/ Encash 24/Short term
Deposits/ Fixed Deposits/ Monthly Income Certificate/ Quarterly
Income Certificate etc. "Current Account" means a form of demand
deposit wherefrom withdrawals are allowed any number of times
depending upon the balance in the account or up to a particular
agreed amount and will also include other deposit accounts which
are neither Savings Deposit nor Term Deposit.
Interest Payments Interest shall be paid on saving account at
the rate specified by Reserve Bank of India directive from time to
time. However, term deposit interest rates are decided by the Bank
within the general guidelines issued by the Reserve Bank of India
from time to time.
In terms of Reserve Bank of India directives, interest shall be
calculated at quarterly intervals on term deposits and paid at the
rate decided by the Bank depending upon the period of deposits. In
case of monthly deposit scheme, the interest shall be calculated
for the quarter and paid monthly at discounted value. The interest
on term deposits is calculated by the Bank in accordance with the
formulae and conventions advised by Indian Banks' Association. The
rate of interest on deposits will be displayed in the branch
premises. Changes, if any, with regard to the deposit schemes and
other related services shall also be communicated upfront to the
deposit account holders. The Bank has statutory obligation to
deduct tax at source if the total interest paid / payable on all
term deposits held by a person exceeds the amount specified under
the Income Tax Act. The Bank will issue a tax deduction certificate
(TDS Certificate) for the amount of tax deducted. The depositor, if
entitled to exemption from TDS can submit declaration in the
prescribed format at the beginning of every financial year. Minors'
Accounts The minor can open Savings Bank Account and the same can
be operated by the natural guardian or by minor himself / herself,
if he/she is above the age of 12 years. The account can also be
opened jointly. On attaining majority, the erstwhile minor should
confirm the balance in his/her account and if the account is
operated by the natural guardian / guardian, fresh specimen
signature of erstwhile minor duly verified by the natural guardian
would be obtained and kept on record for all operational purposes
Insurance Coverage on Deposits All bank deposits are covered under
the insurance scheme offered by
Deposit Insurance and Credit Guarantee Corporation of India
(DICGC) subject to certain limits and conditions. The details of
the insurance cover in force, will be made available to the
depositor. The DICGC insures all deposits such as savings, fixed,
current, recurring, etc. deposits except the following types of
deposits
Deposits of foreign Governments Deposits of Central/State
Governments Inter-bank deposits Deposits of the State Land
Development Banks with the State co-operative bank Any amount due
on account of and deposit received outside India Any amount, which
has been specifically exempted by the corporation with the previous
approval of Reserve Bank of India
Each depositor in a bank is insured upto a maximum of
Rs.1,00,000 (Rupees One Lakh) for both principal and interest
amount held by him in the same right and same capacity. The
deposits kept in different branches of a bank are aggregated for
the purpose of insurance cover and a maximum amount upto Rupees one
lakh is paid. For example, if an individual had an account with a
principal amount of Rs.95,000 plus accrued interest of Rs.4,000,
the total amount insured by the DICGC would be Rs.99,000. If,
however, the principal amount in that account was Rs. One lakh, the
accrued interest would not be insured, not because it was interest
but because that was the amount over the insurance limit. Bankers
Fair Practice Code
About this code This is a voluntary Code, which sets standards
of fair banking practices for member banks of Indian Banks'
Association to follow when they are dealing with individual
customers. It provides valuable guidance to you for your day-to-day
operations. The Code applies to: o current, savings and all other
deposit accounts o pension, PPF accounts etc. operated as agents of
RBI/Government o collection and remittance services offered by the
banks
loans and overdrafts o foreign-exchange services o card products
o third party products offered through our network. As a voluntary
Code, it promotes competition and encourages market forces to
achieve higher operating standards for the benefit of customers. In
the Code, 'you' denotes the customer and 'we' the bank, the
customer deals with. The standards of the Code are covered by the
four key commitments found in section 2. Unless it says otherwise,
all parts of this Code apply to all the products and services
listed above, whether they are provided by branches across the
counter, over the phone, by post, through interactive electronic
devices, on the internet or by any other method. Commitments
outlined in this Code are applicable under normal operating
environment. In the event of force majeure, we may not be able to
fulfill the commitments under this Code.o
This code shall come into effect from 1st September, 2004. Key
Commitments Our key commitments to you We promise to:
Act fairly and reasonably in all our dealings with you by: o
meeting the commitments and standards in this Code, for the
products and services we offer, and in the procedures and practices
our staff follow o making sure our products and services meet
relevant laws and regulations o our dealings with you will rest on
ethical principles of integrity and transparency. Help you to
understand how our financial products and services work by: o
giving you information about them in plain Hindi and/or English
and/or the local language o explaining their financial implications
and o helping you choose the one that meets your needs. Deal
quickly and sympathetically with things that go wrong by:
correcting mistakes quickly o handling your complaints quickly o
telling you how to take your complaint forward if you are still not
satisfied and o reversing any bank charges that we apply due to our
mistake. Publicise this Code, put it on our website and have copies
available for you on request.o
RESERVE BANK OF INDIA DEPARTMENT OF CURRENCY MANAGEMENT
CITIZENS' CHARTER 1. Objective of the Citizens' Charter This
Citizen's Charter provides information on various facilities
provided by the Reserve Bank of India ( RBI) in the matter of
exchange of notes and coins and the common standards of the
services provided at RBI Issue Offices and designated branches. 2.
Services Available at RBI Issue Offices The RBI Offices, where
Issue Department is functioning, offer the facility to members of
the public to exchange their notes including soiled and mutilated
notes and coins including uncurrent or worn out coins. The Bank is
committed to provide exchange facility free of cost at its counters
during business hours of respective RBI Issue Offices. 3. Names of
RBI Offices which provide exchange facilities The facilities are
provided at the counters of the Bank's Regional Offices located at
Ahmedabad, Bangalore, Belapur (Navi Mumbai), Bhopal, Bhubaneswar,
Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur,
Kochi, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and
Thiruvananthapuram.The addresses and telephone numbers of RBI
Offices are given in the Annex. 4. Exchange of soiled and mutilated
notes and coins at the Bank's public counters Members of the
general public can avail themselves of the following facilities at
the counters of the Bank's Offices. Procedure to avail the sevices
and information on costs of services and the Greivance redress
Mechanism is given below. Sr. Services Procedure to Cost of Time
limit No. offered avail the the service service
I.
a) Exchange of notes and coins, and b) Exchange of defective
notes at the counter ( for a few pieces only )
The serial Free of Spot numbers of cost. Payment. counters where
during the exchange banking facility is made hours. The available
at duration of each Office are banking displayed at hours is the
banking displayed in hall of each the banking Office of the hall or
can be Bank. known from Approach the the enquiry designated
counter. counters or enquiry counter for information regarding
designated counters.In case of any difficulty contact the Nodal
Officer whose
name is displayed in the Banking Hall.
II. Exchange of defective notes tendered through TLR Covers (for
larger number of pieces)
Ask for TLR cover at the designated counter or approach enquiry
counter for more information. Fill in the required information on
the TLR cover. Mention the details of bank / branch / account
number, where credit of the exchange value is desired, on the TLR
Cover. Exchange value will normally be paid through following ways:
ECS credit: Bank account of the claimant will be credited through
ECS, provided ECS mandate has been
ECS Free of cost. Money Order (MO) No charges for amount up to
Rs.1000. Actual commission charged by the Post Office for amounts
exceeding Rs.1000. Demand Draft (DD) Actual amount of Exchange, as
applicable, on the amount remitted. Payment Order (PO) Free of
cost.
ECS The exchange value will be credit to the account of the
claimant within 4 working days from the date of receipt of
defective notes. MO/DD/PO MO/DD/PO will be dispatched to the
claimant within 4 working days from the date of receipt of
defective notes.
III. Exchange of defective notes tendered through Insured Parcel
(for very large number of pieces)
Send defective notes through Insured & Registered Parcel to
The General/Deputy Manager of the concerned Issue Office whose
address can be obtained from the enquiry counter or the website of
Reserve Bank of India. Mention the details of notes sent, name,
address and bank account details of the tenderer on an accompanying
letter. Exchange value will be paid by credit to bank account
through ECS. Exchange value can also be paid by Payment
Order/Demand Draft /Money Order. In case of any
Same as mentione d at Sr. No. II.
ECS The exchange value will be credit to the account of the
claimant within 15 working days from the date of receipt of
defective notes. MO/DD/PO MO/DD/PO will be dispatched to the
claimant within 15 working days from the date of receipt of
defective notes.
difficulty you can contact the concerned Issue Office over
telephone or by email, the detail of which is available in Reserve
Bank of India website.
IV. Exchange of defective notes under Special Procedure (For
notes which have turned extremely brittle, badly burnt, charred,
inseparabl y stuck-up together and, therefore, cannot withstand
further handling or which may lose their original identity with the
passage of time)
Contact enquiry counter or AGM/Manager (Claims Section). Submit
application in the prescribed form. Defective notes are not to be
submitted with the application. Wait for intimation from Claims
Section about the date on which adjudication of notes will be done.
On the stipulated date, bring the defective notes to Claims
Section. Claimants can witness the activity of
Same as mentione d at Sr. No. II.
Same as mentioned at Sr. No. II.
adjudication of their defective notes, if they so desire. Do not
paste / reconstruct the defective notes. Bring the defective notes
in their original form.
V Exchange of notes to coins through Coin Vending Machine
Follow the Free Spot procedure Payment by displayed on the the
machine Coin Vending during the Machine. In case of banking any
problem please hours. contact the enquiry counter or the Nodal
Officer.
5 The name of the Nodal Officer for looking into customer
related problems is available with the respective regional offices
of Reseve Bank of India. 6 Grievance Redressal In case you are not
satisfied with the services availed at the counters or have any
suggestion for improvement in the services provided by the Bank,
you may send your complaint / suggestion to us in the following
ways: 1 (i) Leave your complaint / suggestion in the transparent
Drop Box provided for the purpose in the Banking Hall. 2 (ii) Write
your complaint / suggestion in the Complaint / Suggestion Register
available at the Enquiry Counter. 3 (iii) Send your complaint /
suggestion by post/courier to the General Manager/Deputy General
Manager Reserve Bank of India, Issue Department 4 (iv) Send your
complaint / suggestion to us by e-mail at [email protected]. 5 (v)
You may also contact the following officials of Issue Department in
person or telephone for redressal of your grievances: Sr. Name
Designation Address Telephone E-Mail No. of the Number Address
Official 1. General Manager 2. Dy. General Manager 3. 4.
Asst.General Manager Treasurer
1 (vi) Your complaint / suggestion will be acknowledged
immediately and appropriate action will be taken for redressal
thereof within one month from the date of receipt of your letter.
7. General Conditions of Service 1 (i) The mutilated/cut notes are
exchanged by the Bank as a matter of grace under the Reserve Bank
of India (Note Refund) Rules. When the mutilated/cut note is not
found payable under the Rules, the same is rejected and rejection
advice issued to the tenderer. The rejected note is retained by the
bank and destroyed after four months.The tenderer can make appeal
for reconsideration during the preservation period of four month to
the concerned Issue Office 2 (ii) Notes/coins which are found to
have been forged/ counterfeited are impounded and no value thereof
is paid. Such notes/coins are retained by the Bank after issue of
advice to the tenderer. 3 (iii) The security features of the bank
notes issued by RBI are furnished as information to members of the
public in the Bank's website
http://www.rbi.org.in/currency/banknotes.html . 4 (iv) Demand for
notes and coins should be commensurate with the genuine
business/personal need of the customer. 8. Exchange of soiled and
mutilated notes and coins at the counters of commercial banks 1 (i)
Offices of the Reserve Bank are located at selected centers. The
Bank has, therefore, made arrangement for provision of the facility
of exchange of soiled notes, exchange of notes to coins and coins
to notes at the branches of scheduled commercial banks. While the
facility for exchange of soiled notes is available at all branches
of public sector banks and branches of private sector bank, the
facility of exchange of mutilated / cut notes is available only at
the designated bank branches of commercial banks. A list of the
designated bank branches where the mutilated notes can be exchanged
is available at the enquiry counter of the RBI Offices. Such
designated bank branches also have instructions to display
notice board regarding availability of mutilated notes exchange
facility. In case any such branch refuses to provide the exchange
facility, aggrieved members of the public can complain to the
Chairman and Managing Director/CEO of the commercial bank
concerned. In case the grievance is not redressed, the matter may
be brought to the notice of the concerned Regional Office of
Reserve Bank of India. 2 (ii) Branches of other banks i.e.
Co-operative Banks and Regional Rural Banks are expected to
exchange notes and coins at their convenience. They, however, do
not have powers to exchange mutilated notes. 9 Suggestion/Comment
In case any member of the public has any suggestion/comment to
offer in regard to the Citizens' Charter, he may write to the Chief
General Manager, Department of Currency Management, Reserve Bank of
India, Central Office, Amar Building, 4th Floor, Sir P.M. Road,
Fort, Mumbai - 400 001. ANNEX Addresses of RBI Issue Offices and
their Jurisdiction Sl. No. Name and Jurisdiction Address of RBI
Office The General The State of Gujarat and 1 1. Manager Union
Territories of Dadra Reserve Bank of and Nagar Haveli and India,
Issue Daman and Diu Department 2nd Floor, Near Gandhi Bridge
Ahmedabad 380 014. The General The State of Karnataka 1 2. Manager
Reserve Bank of
1
3.
1
4.
1
5.
India, Issue Department 10/3/8, Nrupathunga Road, Bangalore 560
001. The Deputy General Manager Reserve Bank of India, Issue
Department Pt. Jawahar Lal Nehru Marg, Post Box No. 16, Bhubaneswar
751 001 The General Manager Reserve Bank of India, Issue Department
Main Building, Shahid Bhagat Singh Marg, Fort, Mumbai 400 001. The
Deputy General Manager Reserve Bank of India, Issue Department,
Hoshangabad Road, Post Box No. 32, Bhopal 462 011.
The State of Orissa.
Greater Mumbai i.e. Mumbai island and the suburban district
(roughly south of a line connecting Dahisar and Mulund on the
Western and Central Railways respectively)
The State of Madhya Pradesh
1
6.
1
7.
1
8.
1
9.
The Deputy General Manager Reserve Bank of India, Issue
Department Plot No. 3, Sector 10, H.H. Nirmala Devi Marg, CBD,
Belapur, Navi Mumbai 400 614. The Deputy General Manager Reserve
Bank of India, Issue Department Central Vista, Opposite Telephone
Bhavan, Sector 17, Chandigarh 160 017. The General Manager Reserve
Bank of India, Issue Department Fort Glacis No. 16, Rajaji Salai,
Post Box No. 40, Chennai 600 001. The General Manager Reserve Bank
of India, Issue Department Station Road,
The districts of Ahmednagar, Kolhapur, Nasik, Pune, Raigad,
Ratnagiri, Sangli, Satara, Sindhudurg, Solapur, and Thane in the
State of Maharashtra and the State of Goa.
The States of Haryana, Himachal Pradesh, Punjab and the Union
territory of Chandigarh
State of Tamil Nadu and the Union Territory of Pondicherry.
The States of Assam, Arunachal Pradesh, Manipur, Meghalaya ,
Mizoram, Nagaland and Tripura
1
Panbazar, Post Box No. 120, Guwahati 781 001. The General The
State of Andhra 10. Manager Pradesh Issue Department Reserve Bank
of India 6-1-65, Secretariat Road, Saifabad,
Sl. No. Name and Address of RBI Office Jurisdiction The General
The State of Rajasthan 1 12. Manager Issue Department Reserve Bank
of India Rambaug Circle, Tonk Road, Post Box No.12, Jaipur 302 004.
The General The State of Uttar 1 13. Manager Pradesh and Issue
Department Uttaranchal Reserve Bank of India M.G. Marg, Post Box
No. 82/142 Kanpur 208001. The General The States of Sikkim, 1 14.
Manager West Bengal and the Issue Department Union Territory of the
Reserve Bank of Andaman & Nicobar India islands Post Bag No. 49
Kolkata 700 001. The General The State of 1 15. Manager Chattisgarh
and the Reserve Bank of districts of Akola, India, Issue Amaravati,
Department Aurangabad, Beed, Main Office Building, Bhandara,
Buldhana, Dr. Raghvendra Rao Chandrapur, Dhule, Road, Post Box No.
Gadchiroli, Hingoli, 15, Jalgaon, Jalna, Latur, Civil Lines, Nagpur
Nagpur, Nanded, 440 001. Osmanabad, Parbhani, Wardha, Yavatmal in
the State of Maharashtra.
1
1
1
The General 16. Manager Reserve Bank of India, Issue Department
6, Sansad Marg, New Delhi 110 001. The Deputy General 17. Manager
Reserve Bank of India, Issue Department, South Gandhi Maidan Post
Box No. 162 Patna 800 001. The Deputy General 18. Manager Reserve
Bank of India, Issue Department, Bakery Junction, Post Box No.
6507, Thiruvananthapuram 695 033.
The State of Delhi
The State of Bihar and Jharkhand
The State of Kerala and the Union Territory of Lakshdweep
FAQs It is our endeavour to extend best possible services to our
valued shareholders and other investors. For your convenience, we
have furnished below a list of frequently asked questions and their
answers. If you have any other queries, please feel free to contact
the Company Secretary who will be too happy to answer them. We
welcome your suggestions and advices to improve our services
further. 1. Who are the promoters of Axis Bank? As on 24/05/2010
Name of the Promoters Administrator of the Specified Undertaking of
the Unit Trust of India (UTI-1)- SUUTI Life Insurance Corporation
of India General Insurance Corporation of India and Four PSU
Insurance companies Current Shareholding 23.89% 9.67% 4.24%
2. Where is the registered office of Axis Bank Located? The
Registered office of Axis Bank is located at: "TRISHUL",Third
Floor, Opp. Samartheshwar Temple, Nr.Law Garden, Ellisbridge,
Ahmedaabad - 380 006 Tel : (079) 26409322 Fax: (079) 26409321
Email: [email protected] Company registration
number with ROC: CIN-L65110GJ1993PLC020769 Gujarat 04-20769 Where
is the Central Office of Axis Bank located? The Central Office of
Axis Bank is located at: 13th Floor, Maker Tower - F, Cuffe
Parade,
Colaba, Mumbai - 400 005 4. What is the share capital of Axis
Bank? Authorised Share Capital :Rs. 500 crores Paid Up Share
Capital : Rs. 406.94 crores 5. What were the rates of Dividend
declared by Axis Bank in the past? The rates of dividend declared
by Axis Bank were as follows: Year 1998-99 - 10% (Pro-rata) - (Rs.
1 per share) Year 1999-00 - 12% - (Rs. 1.20 per share) Year 2000-01
- 15% - (Rs. 1.50 per share) Year 2001-02 - 20% - (Rs. 2.00 per
share) Year 2002-03 - 22% - (Rs. 2.20 per share) Year 2003-04 - 25%
- (Rs. 2.50 per share) Year 2004-05 - 28% - (Rs. 2.80 per share)
Year 2005-06 - 35% - (Rs. 3.50 per share) Year 2006-07 - 45% - (Rs.
4.50 per share) Year 2007-08 - 60% - (Rs. 6.00 per share) Year
2008-09 - 100% - (Rs. 10.00 per share) Year 2009-10 - 120% - (Rs.
12.00 per share 6. Who are the Registrars and Share Transfer Agents
of Axis Bank? M/s. Karvy Computershare Private Limited, UNIT : AXIS
BANK LIMITED Plot No. 17-24, Vithalrao Nagar, Madhapur, Hyderabad -
500081 Tel : (040) 2342 0815-824 / 4465 5115 / 4465 5117
Fax: (040) 2342 0814 Email: [email protected] Contact
Persons: Shri V.K. Jayaraman, General Manager (RIS) Ms.
Varalakshmi, Sr. Manager 7. On which stock exchange are the shares
of Axis Bank listed? The shares of Axis Bank are listed at the NSE
and BSE. The GDRs issued by the Bank are listed on London Stock
Exchange. Stock Exchange / Depository Code No. / ISIN NO Mumbai NSE
NSDL CDSL Code No. 532215 - A Group Code No. AXISBANKEQ ISIN No.
INE238A01026 ISIN No. INE238A01026
London Stock Exchange ISIN No. US05462W1099 GDR Issue 8. When
was the last Book Closure of Axis Bank ? The last Book Closure was
during the period 24/05/2010 to 08/06/2010. 9. When was the last
AGM of Axis Bank held ? The last AGM of Axis Bank was held on
08/06/2010 10. Who are the members of Axis Bank
Shareholders/Investors Grievance Committee? Dr. Adarsh Kishore -
Chairman Shri K. N. Prithviraj - Member Shri R.B.L Vaish -
Member
11. What is the benefit of Depository System? As a part of
Capital Market Reforms and in line with global practice, the
Depository environment with respect to electronic transactions of
securities has also been put in place by SEBI. This will ensure a
more efficient service in the matter of share transfer and
eliminate risks for the investors against theft/fraud etc while the
share certificates are in transit through courier or postal
service.
NETSECURE Double Security for your Online Fund Transfers We at
Axis Bank have always endeavored to provide the best of banking
services to our customers. Our latest initiative is NETSECURE,
which is a two factor authentication system to provide added
security to your online banking transactions. NETSECURE is a
secured system, wherein two different parameters (one that you
already know, like login id and password and second, a single usage
password that you will receive while conducting the transaction)
are used together to verify your identity on the Internet. Using
two factors as opposed to one factor (just the login id and
password) ensures heightened security for your online transactions.
It is mandatory to register for NETSECURE to transfer funds online.
Once you are registered for NETSECURE, you will receive your
NETSECURE Code - a single usage password, that will ensure double
security for your online fund transfers. You can choose between
three types of NETSECURE: NETSECURE with SMS (using your mobile
phone), NETSECURE with WebPin (registration of a
computer) or NETSECURE with 1-Touch (a small hardware device).
This choice needs to be made when you register for NETSECURE
online.
NETSECURE Terms and Conditions NETSECURE with SMS IMPORTANT -
READ CAREFULLY BEFORE CHOOSING NETSECURE WITH SMS By choosing SMS
as your NETSECURE option, YOU AGREE YOUR ACCEPTANCE OF THE
FOLLOWING TERMS AND CONDITIONS OF THIS USAGE Terms & Conditions
Your Mobile number is an important component in the NETSECURE with
SMS option. Hence you are required to provide your correct mobile
number. If the mobile number provided by you is already registered
with us (it matches with the number present in our records) you
will be successfully registered for the NETSECURE with SMS, else
the system shall direct you to register your mobile number at Axis
Bank's Branches or ATMs. In case of theft/loss/change of your
mobile number, please report the same to your nearest branch. If
the same is not reported, any transactions done through the I
Connect using the authentication will be treated as valid by the
bank and no claims shall be entertained in case of fraud or
unauthorized transaction. Till any alternate mobile number is
registered with the Bank or the registered mobile number is
reactivated you shall not be able to use the services where such
NETSECURE Code is compulsory. The Bank shall not be held
responsible. Once you choose SMS as your NETSECURE option, the bank
shall endeavor to activate the security feature within 48 hours.
The NETSECURE Code sent on the registered mobile number expires
after a predefined time lag. Hence the user will have to
enter the activation code quickly as soon as it is received via
SMS. Any code entered after expiry will be rejected by the Bank. To
the best of the abilities, Bank shall ensure the delivery of the
NETSECURE Code on your registered mobile via SMS. However Bank
shall not be responsible for non-receipt of the SMS Code or delay
for the reasons beyond its control. The Bank holds no
responsibility for any losses occurred due to non delivery/mis -
delivery of the NETSECURE Code through SMS. In times of
contingencies the Bank reserves the right to disable the SMS
NETSECURE authentication. The Bank shall be the sole authority to
decide as to the contingencies of the situation. Bank also reserves
the right to add the NETSECURE authentication in more transaction
types or remove it from the existing transaction types. The same
shall be at the sole discretion of the Bank. The account holder
shall not have multiple options of using NETSECURE. The option one
selected will disable the using the NETSECURE through other modes
of usage. The only option available to the account holder is to de
register from one particular mode and switch over to the other
mode. Any accountholder on registering for the said facility shall
be deemed to have read, understood and accepted these terms and
conditions as stated above (and as amended from time to time). Axis
Bank reserves the absolute right to withdraw/ change/ modify/
suspend/ cancel and/or alter any of the terms and conditions of the
enhanced security NETSECURE. Net Secure with Web Pin IMPORTANT -
READ CAREFULLY BEFORE CHOOSING THE WebPin option for NETSECURE By
choosing WebPin as your NETSECURE option, YOU AGREE YOUR ACCEPTANCE
OF THE FOLLOWING TERMS AND CONDITIONS OF USAGE Terms &
Conditions Your Mobile number is an important component in the
NETSECURE with WebPin option. Hence you are required
to provide your correct mobile number. If the mobile number
provided by you is already registered with us (it matches with the
number present in our records) you will be successfully registered
for the NETSECURE with WebPin, else the system shall direct you to
register your mobile number at Axis Bank's Branches or ATMs. The
Secure code sent on the mobile number is a one time only for a
single Computer registered with the Bank. In case of
theft/loss/change of your mobile number, please report the same to
your nearest branch. If the same is not reported, the
authentication will be treated as valid by the bank and no claims
will be honored in case of fraud or unauthorized transaction by any
third party. Once you have chosen WebPin as your NETSECURE option,
the bank shall endeavour to activate security feature within 48
hours. Once enforced for WebPin, the accounholder will have to
register the computer from which accountholder would be accessing
the iConnect. The Account holder can register as many computers as
may be required for the purpose of NETSECURE. The activation code
sent for computer registration expires after a predefined time lag.
Hence you are required to enter the activation code quickly as soon
as it is received via SMS. Any code entered after expiry will be
rejected by the Bank. To the best of our knowledge we shall ensure
the delivery of the activation code on your registered mobile via
SMS. However we contrite the non-receipt for the reasons beyond our
control.The Bank holds no responsibility for any losses occurred
due to non delivery or delay of the delivery of the Authentication
code to your mobile number. For the usage of the NERSECURE with
WebPin, Java Runtime environment JRE 1.4.x or above is required in
the computer. Recommended system requirement for the Web Pin device
are : o PC / Laptop Specifications: 512 MB RAM, Pentium4 onwards o
Internet connectivity Broadband :(512Kbps onwards) o Operating
Systems: Windows 2000 Professional, XP, VISTA, Windows 2003
Server
Recommended screen resolution: 1024X768 o Supported Browsers: IE
6.0+, Firefox 1.5 onwards (3.0+ recommended), Opera 9.0+, Safari
3.0+ o Mandatory Browser settings: Enable JavaScript, Cookies and
Java o Java Runtime Environment (JRE) requirement: JRE 1.4.x, JRE
1.5.x, JRE 1.6.x and onwards In times of contingencies the Bank
reserves the right to disable the NETSECURE with WebPin
authentication. The Bank shall be the sole authority to decide as
to the contingencies of the situation. The bank also reserves the
right to add the NETSECURE with WebPin authentication in more
transaction types or remove it from the existing transaction types.
. The same shall be at the sole discretion of the Bank. The account
holder shall not have multiple options of using NETSECURE. The
option one selected will disable the using the NETSECURE through
other modes of usage. The only option available to the account
holder is to de register from one particular mode and switch over
to the other mode. Any accountholder on registering for the said
facility shall be deemed to have read, understood and accepted
these terms and conditions as stated above (and as amended from
time to time). Axis Bank reserves the absolute right to withdraw/
change/ modify/ suspend/ cancel and/or alter any of the terms and
conditions of the enhanced security NETSECURE NETSECURE with
1-Touch Device IMPORTANT - READ CAREFULLY BEFORE CHOOSING THEo
NETSECURE with 1-Touch OPTION By choosing 1-Touch Device as your
NETSECURE option, YOU AGREE ACCEPTANCE OF THE FOLLOWING TERMS AND
CONDITIONS OF THIS USAGE. Terms & Condition Once you choose
1-Touch Device as your NETSECURE option, the bank shall deliver the
device to your communication address within 10 working days.
After 10 days from registration request, the bank will activate
1Touch Device NETSECURE authentication. The NETSECURE Code
appearing on the 1-Touch Device expires after 50 seconds. The code
entered after expiry will be rejected by the Bank. In case of loss
or theft of the 1-Touch device, please report the loss to your
nearest branch. If the same is not reported, any transactions done
though the authentication shall be treated as valid by the bank and
no claims shall be entertained in case of any fraud. Your 1-Touch
Device is personal to you and cannot be shared. In case of misuse
by third party, (whether intentional or not) the Bank absolves its
liability for the same. By indicating to avail the facility of
NETSECURE through this mode , you accept to pay The applicable
charges of Rs 800 for 1-Touch device or unauthorized transaction In
case of any of such Replacement of 1 Touch Device the Replacement
charges Rs. 500 per 1-Touch device plus applicable taxes shall be
charged by the Bank. The Bank reserves the right to revise the
charges and debit the applicable charges with taxes if any, to the
account maintained with the Bank. In case of Theft/Loss/misplace of
1 Touch Device till any alternate 1 Touch Device is made available
you shall not be able to use the services requiring such NETSECURE
Code for which the Bank shall not be held responsible. In times of
contingencies the Bank reserves the right to disable the 1-Touch
NETSECURE authentication. The Bank shall be the sole authority to
decide as to the contingencies of the situation. The bank also
reserves the right to add the NETSECURE authentication on more
transaction types or remove it from the existing transaction types.
The same shall be at the sole discretion of the Bank. The 1-Touch
Device can only be used to access the Axis Bank iConnect Web site
In acceptance of the terms and conditions you will always provide
the Bank accurate 1-Touch Device serial number as requested in
order to allow the Bank to associate your identity. You will
maintain proper possession of the 1-Touch Device.
For the usage of the 1-Touch device, Java Runtime environment
JRE 1.4.x or system requirements as mentioned below, is mandatory
in the Computer. Recommended system requirement for the 1-Touch
device are : o PC, Laptop Specifications: 512 MB RAM, Pentium4
onwards o Internet connectivity Broadband :(512Kbps onwards) o
Operating Systems: Windows 2000 Professional, XP, VISTA, Windows
2003 Server o Recommended screen resolution: 1024X768 o Supported
Browsers: IE 6.0+, Firefox 1.5 onwards (3.0+ recommended), Opera
9.0+, Safari 3.0+ o Mandatory Browser settings: Enable JavaScript,
Cookies and Java o Java Runtime Environment (JRE) requirement: JRE
1.4.x, JRE 1.5.x, JRE 1.6.x and onwards The account holder shall
not have multiple options of using NETSECURE. The option one
selected will disable the using the NETSECURE through other modes
of usage. The only option available to the account holder is to de
register from one particular mode and switch over to the other
mode. Any accountholder on registering for the said facility shall
be deemed to have read, understood and accepted these terms and
conditions as stated above (and as amended from time to time). Axis
Bank reserves the absolute right to withdraw/ change/ modify/
suspend/ cancel and/or alter any of the terms and conditions of the
enhanced security NETSECURE. Axis Bank reserves the absolute right
to withdraw/ change/ modify/ suspend/ cancel and/or alter any of
the terms and conditions of the enhanced security NETSECURE