2. Disclaimer & Application of Charter

Information given in this Citizen's Charter is as of June 2023 and is subject to change / revision. This document is limited to Upmint. This document should not be considered as a legal document creating rights and obligations. It is for promoting better understanding between Customer and Upmint AA. Only key information on various services / facilities is given in this document. Each service has its own detailed terms and conditions, which is made available on request.

The Citizen's Charter is not legally enforceable and, therefore, is non-justiciable. However, it is a tool for facilitating the delivery of services to citizens with specified standards, quality, and time frame, etc., with commitments from the organization and its clients, and in furtherance of the same this Charter applies to all products and services of Upmint Account Aggregator as listed below.

The various commitments and timelines spelt out in the Citizen’s Charter are subject to fulfilment of the requirements of the RBI’s Master Directions and various circulars or communications regarding the Account Aggregator services and where there is a conflict between the Charter and the current instructions of RBI, RBI’s instructions would prevail.

3. Definitions

In this Citizen Charter unless the context otherwise requires,

1. “AA Master Direction” means Master Direction – Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016 (DNBR.PD.009/03.10.119/2016-17) as modified or updated from time to time.
2. “Account Aggregator” means Upmint Solutions Account Aggregator Private Limited ( AA).
3. “Bank” means a banking company; or a corresponding new bank; or the State Bank of India; or a subsidiary bank; or such other bank which the RBI may, by notification, specify for the purposes of the AA Master Directions; and a co-operative bank as defined under clause (cci) of section 5 read with section 56 of the Banking Regulation Act, 1949 (10 of 1949).
4. “Business of an account aggregator” means the business of providing under a contract, the service of retrieving or collecting such financial information pertaining to its Customer, as may be specified by the RBI from time to time; and consolidating, organizing, and presenting such information to the Customer or any other Financial Information User as may be specified by the RBI.
5. “Customer” means a ‘person’ who has entered into a contractual arrangement with the Account Aggregator to avail services provided by the Account Aggregator.
6. “Financial Information” means information in respect of the following with Financial Information Providers:
   1. Bank deposits including fixed deposit accounts, savings deposit accounts, recurring deposit accounts and current deposit accounts
   2. Deposits with NBFCs
   3. Structured Investment Product (SIP)
   4. Commercial Paper (CP)
   5. Certificates of Deposit (CD)
   6. Government Securities (Tradable)
   7. Equity Shares
   8. Bonds
   9. Debentures
   10. Mutual Fund Units
   11. Exchange Traded Funds
   12. Indian Depository Receipts
   13. CIS (Collective Investment Schemes) units
   14. Alternate Investment Funds (AIF) units
   15. Insurance Policies
   16. Balances under the National Pension System (NPS)
   17. Units of Infrastructure Investment Trusts
   18. Units of Real Estate Investment Trusts
   19. Goods and Services Tax (GST) Returns, viz. Form GSTR-1 and Form GSTR-3B
   20. Any other information as may be specified by the Bank for the purposes of AA Master Directions, from time to time.
7. “Financial Information Providers” or “FIP” means bank, non-banking financial company, asset Management Company, depository, depository participant, insurance company, insurance repository, pension funds, Goods and Services Tax Network (GSTN) and such other entity as may be identified by the RBI for the purposes of the AA Master Directions, from time to time.
8. “Financial Information Users” or “FIU” means all the entity registered / regulated by any financial sector regulator.
9. “Person” means an individual, a Hindu undivided family, a company, a firm, association of persons or a body of individuals, whether incorporated or not, and every artificial juridical person, not falling within any of the preceding sub-clauses.
10. “RBI” means Reserve Bank of India.

4.Our Services

Upmint AA offers a platform where customers can aggregate and manage their financial data. The key services include:

• Data Aggregation Dashboard:
  Customers can access a unified dashboard that provides a holistic view of all their financial data in one place. This simplifies financial management and allows users to stay informed about their financial standing across various institutions.
• Real-Time Data Sharing:
  The platform facilitates real-time data sharing between Financial Information Providers (FIPs) and Financial Information Users (FIUs), ensuring that information is always up-to-date and accurate. Data sharing is done strictly based on customer consent.
• Consent-Based Access:
  The entire data-sharing process is driven by customer consent. Users can provide explicit consent for each instance of data sharing and can also view, manage, and revoke consents at any time, ensuring full control over their financial information.
• Consent Management and Revocability:
  Customers have access to records of all consents they provide and can revoke those consents at any time. Revocations are applied immediately, ensuring that no data is shared post-revocation. Consent records are retained for a period of three years from the date of expiry, allowing customers to track their data sharing history, until the account has been deleted by the customer.

5. Our Commitments

Upmint AA is committed to:

• Act courteously, fairly, and reasonably in all our dealings with Customer;
• Ensure that documents and procedures are clear and not misleading, and Customer are given clear information about the products and services of Upmint AA;
• Render services of account aggregator to Customer on the explicit consent;
• Assure Customer that its services are backed up, by appropriate authorisation, agreement between other relevant stakeholders of account aggregator ecosystem as per AA Master Direction;
• Any Information of Customer shall be shared only with him/her, or any other Financial Information User authorised by him/her;
• Provide an enabling IT platform for data exchange with consent between Customer and FIU where FIP is the custodian of the Financial Information.
• Communicate the Financial Information on “As is” or “As Available Basis”, and hence will be data blind i.e., it will not store any Financial Information of Customer.
• Keep pricing policy of Services to Customer fair and transparent;
• Strictly comply with the internal guidelines and AA Master Direction.
• Treat all personal information as private and confidential; and operate secure and reliable IT framework; and
• Publicize our Citizens Charter, have copies available and make sure that staff are trained to put it into practice.

6. Consent Architecture

The consent of the Customer obtained by the Account Aggregator (Upmint AA) shall be a standardised consent artefact in compliance with AA Master Directions. It will contain the following details, namely:

• Identity of the Customer and optional contact information;
• The nature of the Financial Information requested;
• Purpose of collecting such information;
• The identity of the recipients of the information, if any;
• URL or other address to which notification needs to be sent every time the consent artefact is used to access information.
• Consent creation date, expiry date, identity, and signature/digital signature of the Account Aggregator; and
• Any other attribute as may be prescribed by the RBI.

Upon revocation, a fresh consent artefact shall be shared with the Financial Information Provider.

7. Expectation from Customer

Customers shall:

1. Review the details of all requests that they receive from FIUs through Upmint AA to transfer data from FIPs to such FIU in order to verify the nature and quantum of data requested, the purpose for which such data is being collected and the duration for which it will be retained by the FIU;
2. Only provide their consent after having duly verifying the details of the request to transfer data and any consent so provided shall be binding on the Customer;
3. Be responsible for the confidentiality, safekeeping, and security of their account details, including but not limited to, login and other credentials, required to access and use their account on the AA ecosystem;
4. Be solely responsible for all communications exchanged between Customer and Upmint AA through the AA Ecosystem and/or any transaction or activity conducted, or purported to be conducted with the AA;
5. Duly discharge payment obligations as arise on account of use of the services; and
6. Notify Upmint AA immediately if there is any unauthorised access to or use of their accounts.

8. Rights of Customer

The Customer shall, have the right to:

• Be informed by Upmint AA all the attributes specified in the consent artefact in relation to any consent sought to be obtained from such Customer for the transfer of data from FIPs to the FIU through Upmint AA and/or for transfer of data on Customer’s own request from FIPs to Customers through Upmint AA, as the case may be;
• Be informed of all the information received in consent as per above mentioned consent artefact architecture.
• To approve OR reject consent request received.
• To access a record of all the consents provided, the details of the subsequent data flows and the FIUs with whom the corresponding data has been shared for such period of time as specified under applicable laws from time to time;
• To any time revoke any consent which has been provided to an FIU; and
• To deregister from Upmint AA at any time through a simple process that allows the Customer to delink all connected accounts, revoke all active consents, and download the consent and transaction history.
• To raise a grievance with the Grievance Redressal Officer of the Upmint AA in accordance with Grievance Redressal Policy of Account Aggregator;
• To escalate grievance with relevant authorities in case of non-redressal within prescribed time limit mentioned in grievance redressal mechanism.

9. Sharing of Financial Information

• Account Aggregator should only share the data to a FIU from FIP based on the valid consent artefact
• FIP, upon being presented the consent artefact shall verify:
  1. Validity of consent;
  2. Specified dates and usage; and
  3. The credentials of the Account Aggregator through appropriate means.
• FIP, upon successful verification, shall digitally sign the financial information and securely forward the information in encrypted form to the Account Aggregator as per terms contained in the consent artefact.

10. Data Security

• Upmint AA will take appropriate steps to protect the information shared by the Customer...
• Upmint AA is committed to keep its security procedures updated and compliant with applicable regulations.
• Adequate safeguards in the IT systems shall be adopted...
• Appropriate measures shall be taken to prevent loss of data due to disasters...
• Information System Audit of the internal systems and processes shall be conducted at least once every two years by CISA certified external auditors...

11. Our Grievance Redressal Mechanism

We believe while involving into various systems, processes and involves human handling it is possible few of issues may occur and should be handled with proper redressal mechanism to ensure accurate resolution in timely manner. Customer can access our Grievance Redressal Policy at:

Grievance Process:

Customer shall raise the AA related Grievances on support@upmintaa.com by providing below details. The Grievances shall resolve within 7 working days.

• VUA ID:
• Contact No:
• Grievance Description:

Important Note:

As per RBI guidelines mentioned in master direction (DNBR.PD.009/03.10.119/2016-17) for NBFC Account Aggregator complaints if any, should be raised within 30 days from the occurrence. Any complaints received after 30 days of occurrence will be taken in good faith and best effort basis.

In case complaint raised on aforesaid email id does not get resolved within 7 days, customer can contact our grievance officer. Grievance officer details are as follows:

• Name: Awadhesh Shukla
• Email ID: awadhesh@upmintaa.com

Customer can also raise complaint via sending complaint letter addressing to below details: