In addition to the General Terms and Conditions and the terms and conditions in the investing and demat account opening form applicable to the User, this terms and conditions shall also be applicable to the Users to access and use the Paytm Money Limited’s Online Trading System through the website “www.paytmmoney.com/stocks” (herein after referred to as “Website”), Mobile Application “Paytm Money”, including any other sub-domain or platform which is owned, developed, managed or operated by Paytm Money Limited, and/or its affiliates (hereinafter referred to as “App”). App and website shall together hereinafter referred as “Platform”. Paytm Money Limited shall hereinafter be referred to as “Paytm Money.”
In terms of Information Technology Act, 2000, this document is an electronic record, being generated by a computer system and it does not require any physical or digital signature. Your acceptance to the terms and conditions shall be considered as your consent to use the App, the Website, the services and products (collectively referred to herein as “Services”) provided by Paytm Money in accordance with the terms and conditions laid down by Paytm Money.
This document lays out the terms and conditions that apply to the access and use of the Paytm Money platform through the website “www.paytmmoney.com” (herein after referred to as “Website”), Mobile Application “Paytm Money”, including any other sub-domain or platform which is owned, developed, managed or operated by Paytm Money Limited, and/or its affiliates (hereinafter referred to as “App”). App and website shall together hereinafter referred as “Platform”. Paytm Money Limited shall hereinafter be referred to as “Paytm Money.”
In terms of Information Technology Act, 2000, this document is an electronic record, being generated by a computer system and it does not require any physical or digital signature. Your acceptance to the terms and conditions shall be considered as your consent to use the App, the Website, the services and products (collectively referred to herein as “Services”) provided by Paytm Money in accordance with the terms and conditions laid down by Paytm Money.
The words, “him”, “his”, “You”, “Your”, “Client”, “User” “Investor”, “I”, “Subscriber” and “Customer” refer to the person(s) who use and avail the Services and Products of Paytm Money Website / App and shall include both singular and plural. The Services provided herein is only for Customers who are Indian citizens and tax resident of India.
These terms shall constitute a binding contract between Paytm Money and you when you download the App or use the services on Website and / or the App or use its Services on any other platform managed by Paytm Money and shall be referred to herein as the “Agreement”. Downloading and installing the App or using the services of the Website or the App shall be deemed to constitute sufficient proof that you have read, understood and accepted these terms.
These Terms and Conditions contain important information regarding the Services that Paytm Money will provide to you and for your own protection you should read them carefully before accepting them. If you do not agree to these terms you must not proceed to use the App or use the Services provided on the website or mobile application.
Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of the terms contained herein.
Without prejudice to any other specific requirement which may be laid out in this Agreement, your use of the App / Website and the Services and specifically, your acceptance of these terms as aforesaid shall be deemed to be a representation from you that you are above 18 years of age, or possess legal parental or guardian consent, and are fully able, conscious and competent to enter into this Agreement and make your investment decisions, execute the investment transactions, evaluate the advice, if any, and confirm to abide by and comply with the terms set forth herein.
Paytm Money (including the App and Website are owned by Paytm Money, a company incorporated under the Companies Act, 2013 and having its registered office at 136, Ist Floor, Devika Tower, Nehru Place, New Delhi – 110019 and is also registered with the Securities and Exchange Board of India (‘SEBI’) as a stockbroker(INZ000240532) and depository participant (IN-DP-416-2019).
I hereby authorize Paytm Money to share with exchanges, depositories or Registered transfer agents, my signature available on the records of the KYC Registration Agency (“KRA”) or CKYC for authenticating and processing my requests.
The Customer agrees, acknowledges and provides his / her consent that the information provided by him / her may be shared with regulators / government bodies as and when required or requested by them.
The Customer understands and consents to record his / her telephonic conversations with the customer support department (managed by itself or through any outsourced vendor) for quality control, record retention purposes, and other similar purposes however we agree to keep such records confidential.
The Customer understands that he / she can login through his / her Paytm Login Credentials. By logging into the Paytm Money App / Website using these credentials, the Customer acknowledges and provides consent to verify his / her credentials with One97 Communications Limited.
All orders through the Paytm Money Platform shall be made at the sole discretion of the User and all investments will be executed by the User only or as per the directions issued by the User.
The User agrees and understands that all orders for purchase, sale or other dealings in securities and other instructions routed by the Users through Paytm Money Platform via the User’s Username shall be deemed to have been given by the User.
Though orders will generally be routed to the Exchange’s computer systems within a few seconds from the time the order is placed by the User on the Paytm Money Platform, Paytm Money shall not be liable for any delay in the execution of any order or for any resultant loss on account of the delay.
The User hereby allow Paytm Money to utilize his / her KYC information, which the User has submitted as its own will or uploaded on Paytm Money’s system, such as his / her personal identity details like name, PAN, age, address, mobile number, email address and signature or any such prescribed by Paytm Money or by regulation for sending / sharing it to any KYC authority (UIDAI, KRA, CERSAI, or others) for the purpose of validation and to comply with the legal and regulatory requirements. The User shall be solely liable to inform Paytm Money in case of any change in the KYC information including and any information or declaration or change in signature / signatories etc. and in the event of his / her signature not being updated, available or legible in KYC records, Paytm Money would be within its rights to carry out further checks to validate the authenticity of the request or reject any such request based on existing KYC information. The User shall provide such additional documents and perform such additional actions that may be called upon to be submitted by Paytm Money. In case the User’s signatures is not available with KRA / CKYC, the User shall co-operate with Paytm Money to provide incremental details as may be required to complete verification.
The User hereby authorizes Paytm Money to share with exchanges/depositories his / her signatures available on the records of the KYC Registration Agency (“KRA”) or CKYC for authenticating and processing requests.
The User hereby confirms and acknowledges that the information provided by the User hereunder or thereafter after the login to the Paytm Money App or Website may be used by Paytm Money for marketing purposes and cross selling purposes.
The User hereby declares that all amount used to place purchase orders through the Paytm Money Platform shall be through his / her own legitimate source / bank account only and the said orders do not contravene any Act, Rules, Regulations, Notifications or Directives of the provisions of the Income Tax Act, Anti Money Laundering Laws, Anti-Corruption Laws or any other applicable laws enacted by the Government of India from time to time.
The User hereby agrees and acknowledges that he / she has not received nor have been induced by any rebate or gifts, directly or indirectly to place orders through Paytm Money Platform.
The User agrees that, if the order is not accepted on Paytm Money Platform for any reason whatsoever, Paytm Money shall have the right to consider the order as lapsed.
The User hereby understands and agrees that the systems at the Exchange or in Paytm Money Platform are vulnerable to temporary disruptions, breakdowns or failures. In the event of non- execution of trade orders or trade cancellation due to the happening of such events or vulnerabilities due to failure / disruption / breakdown of system or link, Paytm Money shall be entitled to cancel relative request/(s) with the User and shall not be liable to execute the desired transactions of the User’s. In such event, Paytm Money shall not be responsible for any losses incurred or which may be incurred by the User due to such event which are beyond the control of Paytm Money.
Paytm Money offers trading facility to its Clients through the Paytm Money Platform. As part of the services Paytm Money will charge Platform enablement fees. All charges are available at www.paytmmoney.com
In addition to the conditions as provided under the policy of right to sell securities and close out Client’s open position as detailed in point 4 above, Paytm Money shall have the right to refuse to execute trades/ allow the Client to take further positions and/ or close out the existing positions of Client under following circumstances:
No cash payment will be received from/ made to the Client as per the extract SEBI/ Exchange/ Income Tax/ PMLA Regulation, Guidelines, Circulars, etc. accordingly Paytm Money will not be responsible for any claim of receipt/ payment in cash by Client from/ to Paytm Money.
1. In the case of a purchase transaction, the Client shall remit funds within the time period provided to Paytm Money in any of the following ways:
(i) Authorized electronic transfer (UPI, NetBanking, RTGS) of funds from Client’s Bank Account to Paytm Money’s bank account in the same Designated Bank
In the case of sub-clause (i) credit will be given to the Client immediately on authentication of payment authorization, however Client has to intimate Paytm Money immediately after making payment through option as mentioned in sub clause (i).
Payment referred to in sub-clause (i) shall be accepted only from Client’s account.
Payment shall be made by the Client only as referred to in sub-clause (i). Paytm Money shall not accept/ acknowledge/ give credit for any payment made in cash.
2. In the case of a sale transaction, Paytm Money shall remit funds to the Client within the time period provided, provided the Client has delivered the securities sold to Paytm Money within the time prescribed by the following ways as requested by the Client.
(i) Electronic transfer of funds into the Bank Account of the Client opened with the Designated Bank.
(ii) Electronic transfer of funds into any other bank account of the Client as may be specified by the Client, and accepted by Paytm Money
All payments shall be made only in the name of the Client.
In Accordance with SEBI Circular SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016 as Paytm Money is entitled to have a lien on Client’s securities to the extent of Client’s indebtedness to Paytm Money and Paytm Money may pledge those securities. The Client agrees that Paytm Money in accordance with the above circular may pledge their securities to the extent of their indebtedness with their explicit authorization.
All the above policies and procedures of Paytm Money as applicable to the Client’s trading account are subject to change/updation by Paytm Money from time to time. The updated policies and procedures of Paytm Money shall be posted on the website of www.paytmmoney.com and communicated to Client through circulars and e-mails.
TERMS AND CONDITIONS WITH RESPECT TO APPLYING/BIDDING FOR IPO THROUGH ASBA (APPLICATIONS SUPPORTED BY BLOCKED AMOUNT):
Client/Investor hereby undertake that I have read the Red Herring Prospectus and I am an eligible bidder as per the applicable provisions of the SEBI.
1. RIGHTS & OBLIGATIONS OF STOCK BROKERS & CLIENTS FOR AVAILING MARGIN TRADING FACILITY (MTF)- NSEI. CLIENT RIGHTS
a. Client shall receive all communications in a mode mutually agreed between the broker and the client regarding confirmation of orders/trades, margin calls, decision to liquidate the position/security.
b. Client shall be free to take the delivery of the securities at any time by repaying the amounts that was paid by the Stock Broker to the Exchange towards securities after paying all dues.
c. Client has a right to change the securities collateral offered for MTF at any time so long as the securities so offered are approved for MTF.
d. Client may close/terminate the MTF at any time after payment of all the dues.II. CLIENT OBLIGATIONS
a. Client shall, in writing in his own hand or in any irrefutable electronic method, agree to avail of MTF in accordance with the terms and conditions of MTF offered by the broker, method of communication for confirmation of orders/trades, margin calls and calls for liquidation of collateral/security/position.
b. Client shall inform the broker of its intent to shift the identified transaction under MTF within the time lines specified by the broker failing which the transaction will be treated under the normal trading facility.
c. Client shall place the margin amounts as the Stock Broker may specify to the client from time to time.
d. On receipt of ‘margin call’, the client shall make good such deficiency in the amount of margin placed with the Stock Broker within such time as the Stock Broker may specify.
e. By agreeing to avail MTF with the broker, client is deemed to have authorized the broker to retain and/or pledge the securities provided as collateral or purchased under the MTF till the amount due in respect of the said transaction including the dues to the broker is paid in full by the client.
f. Client shall lodge protest or disagreement with any transaction done under the MTF within the timelines as may be agreed between the client and broker
III. STOCK BROKER RIGHTS
a. Stock Broker and client may agree between themselves the terms and condition including commercial terms if any before commencement of MTF.
b. Stock broker may set up their own risk management policy that will be applicable to the transactions done under the MTF. Stock broker may make amendments there to at any time but give effect to such policy after the amendments are duly communicated to the clients registered under the MTF.
c. The broker has a right to retain and/or pledge the securities provided as collateral or the securities bought by the client under the MTF.
d. The broker may liquidate the securities if the client fails to meet the margin call made by the broker as mutually agreed of liquidation terms but not exceeding 5 working days from the day of margin call.
IV. STOCK BROKER OBLIGATIONS
a. Stock broker shall agree with the client the terms and condition before extending MTF to such client. However, for clients who already have existing trading relationship and want to avail of MTF, stock broker may take consent in writing in his own hand or in any irrefutable electronic method after stock broker has communicated the terms and conditions of MTF to such existing clients.
b. The terms and conditions of MTF shall be identified separately, in a distinct section and given as a part of account opening agreement.
c. The mode of communication of order confirmation, margin calls or liquidation of position/security shall be as agreed between the broker and the client and shall be in writing in his own hand or in any irrefutable electronic method. Stock broker shall prescribe and communicate its margin policies on haircuts/VAR margins subject to minimum requirements specified by SEBI and Exchanges from time to time.
d. The Stock- Broker shall monitor and review on a continuous basis the client’ position with regard to MTF. It is desirable that appropriate alert mechanism is set up through which clients are alerted on possible breach of margin requirements.
e. Any transaction to be considered for exposure to MTF shall be determined as per the policy of the broker provided that such determination shall happen not later than T + 1 day (T stands for Trading Day).
f. If the transaction is entered under margin trading account, there will not be any further confirmation that it is margin trading transaction other than contract note.
g. In case the determination happens after the issuance of contract note, the broker shall issue appropriate records to communicate to client the change in status of transaction from Normal to Margin trading and should include information like the original contract number and the margin statement and the changed data.
h. The Stock Broker shall make a ‘margin call’ requiring the client to place such margin; any such call shall clearly indicate the additional/deficient margin to be made good.
i. Time period for liquidation of position/security shall be in accordance declared policy of the broker as applicable to all MTF clients consistently. However, the same should not be later than 5 working (trading) days from the day of ‘margin call’. If securities are liquidated, the contract note issued for such margin call related transactions shall carry an asterisk or identifier that the transaction has arisen out of margin call.
j. The daily margin statements sent by Broker to the client shall identify the margin/collateral for Margin Trading separately.
k. Margin Trading Accounts where there was no transactions for a period of 90 days shall be settled immediately.
l. The stocks deposited as collateral with the stock broker for availing MTF (Collaterals) and the stocks purchased under the MTF (Funded stocks) shall be identifiable separately and there shall not be any commingling for the purpose of computing funding amount.
m. Stock Broker shall close/terminate the account of the client forthwith upon receipt of such request from the client subject to the condition that the client has paid dues under MTF.
V. TERMINATION OF RELATIONSHIP
a. The margin trading arrangement between the Stock Broker and the client shall be terminated; if the Stock Exchange, for any reason, withdraws the MTF provided to the Stock Broker or the Stock Broker surrenders the facility or the Stock Broker ceases to be a member of the stock Exchange.
b. The MTF may be withdrawn by the broker, in the event of client committing any breach of any terms or conditions therein or at any time after due intimation to client allowing such time to liquidate the MTF position as per the agreed liquidation terms without assigning any reason. Similarly, client may opt to terminate the MTF in the event of Broker committing any breach of any terms or conditions therein or for any other reason.
c. In the event of termination of this arrangement, the client shall forthwith settle the dues of the Stock Broker. The Stock Broker shall be entitled to immediately adjust the Margin Amount against the dues of the client, and the client hereby authorizes the Stock Broker to make such adjustment.
d. After such adjustment, if any further amount is due from the client to the Stock Broker, the client shall settle the same forthwith. Upon full settlement of all the dues of the client to the Stock Broker, the Stock Broker shall release the balance amount to the client.
e. If the client opts to terminate the MTF, Broker shall forthwith return to the client all the collaterals provided and funded securities retained on payment of all the dues by clients.
f. Client shall lodge protest or disagreement with any transaction done under the MTF within the timelines as may be agreed between the client and broker.
2. RIGHTS & OBLIGATIONS OF STOCK BROKERS & CLIENTS FOR AVAILING MTF- BSE
a. Stock Broker/ Trading Member is eligible to provide MTF in accordance with SEBI & Exchange Guidelines as specified from time to time.
b. Stock Broker/ Trading Member desirous of extending MTF to their clients is required to obtain prior permission of BSE. Stock Broker/ Trading Member may note that BSE has the right to withdraw the permission at anytime.
c. Stock Broker/ Trading Member shall extend the MTF to the client, on such terms and conditions as specified by the Stock Exchange / SEBI from time to time. Stock Broker/ Trading Member and the client shall abide by the requirements of the margin trading framework, including rights and obligations, as prescribed by Stock Exchange/ SEBI/ Stock Broker/ Trading Member.
d. Stock Broker/ Trading Member shall intimate all the terms and conditions, including maximum allowable exposure, specific stock exposures etc., as well as the rights and obligations to the client desirous of availing MTF.
e. Stock Broker/ Trading Member may, at its sole and absolute discretion, increase the limit of initial and/or maintenance margin, from time to time. The Client shall abide by such revision, and where there is an upward revision of such margin amount, he agrees to make up the shortfall within such time as the Stock Broker/ Trading Member may permit. It may however, be noted that the initial/ maintenance margins shall never be lower than that prescribed by Stock Exchange/ SEBI.
f. Stock Broker/ Trading Member shall provide MTF only in respect of such shares, as may be permitted by Stock Exchange/ SEBI.
g. Stock Broker/ Trading Member shall liquidate the securities and other collateral, if the client fails to meet the margin call to comply with the margin requirement as specified by Stock Exchange/ SEBI/ Stock Broker/ Trading Member. In this regard, Stock Broker/ Trading Member shall also list down situations/ conditions in the which the securities may be liquidated (Stock Broker/ Trading Member to list down situations/ conditions).
h. Stock Broker/ Trading Member shall not use the funds of one client to provide MTF to another client, even if the same is authorized by the first client.
i. The stocks deposited as collateral with the Stock Broker/ Trading Member for availing MTF (Collaterals) and the stocks purchased under the MTF (Funded stocks) shall be identifiable separately and no comingling shall be permitted for the purpose of computing funding amount .
j. IPF shall not be available for transactions done on the Stock Exchange, through MTF, in case of any losses suffered in connection with the MTF availed by the client.
The rights and obligations prescribed hereinabove shall be read in conjunction with the rights and obligations as prescribed under SEBI circular no. CIR/ MIRSD/ 16/ 2011 dated August 22, 2011.
3. TERMS AND CONDITIONS FOR AVAILING MTF
a. Equity Shares that are classified as 'Group I security' as per SEBI Master Circular No. SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016, shall be eligible for MTF. Paytm Money, at its discretion, may not provide funding under MTF to certain equity shares though classified to be “Group I Security” by SEBI. Equity shares shortlisted by Paytm Money for funding (Approved List) shall be as displayed on Paytm Money’s trading website from time to time.
b. Initial margin, increased margin, margin shortage, maximum allowable exposure, maximum stock specific exposure, trade confirmation, square off intimation and such other information in relation to MTF shall be communicated to the Client electronically.
c. In order to avail MTF, initial margin required shall be as under.
|Category of Stock||Applicable margin|
|Group I stocks available for trading in the F & O Segment||VaR + 3 times of applicable ELM*|
|Group I stocks other than F&O stocks||VaR + 5 times of applicable ELM*|
*VaR and ELM shall mean VaR and ELM as applicable to respective stocks in the cash segment.
d. Client shall be required to provide the minimum initial margin as applicable for a particular stock to buy that stock under MTF. The exchange/Paytm Money, based on the risk assessment, shall have the discretion to impose/collect higher margin than the margin specified above.
e. Paytm Money may, at its sole and absolute discretion, increase the limit of initial and/or maintenance margin, from time to time and shall intimate the same to Client. The Client shall abide by such revision, and where there is an upward revision of such margin amount, he/she agrees to make up the shortfall within such time as Paytm Money may permit. It may however, be noted that the initial/ maintenance margins shall never be lower than that prescribed by Stock Exchange/ SEBI Subject to the initial margin as aforesaid, Paytm Money may, at its sole and absolute discretion, revise and increase from time to time the margin required for any stock permitted to be traded under MTF. Where client has exposure in the stock in respect of which margin has been revised but does not already have sufficient credit in the account to meet increase in margin, Client shall pay margin found short within the time prescribed for making margin payment.
f. Mark to Market (MTM) losses on open positions to be paid by the Client on the next working day by 09:00 A.M.
g. Decision of Paytm Money will be final with respect to
h. Situations/ conditions in which the securities may be liquidated:
i. Margin requirement on shares purchased under MTF shall be computed by grossing applicable margin i.e., minimum inital margin plus increased margin, if any, on each stock and shortage computed accordingly by deductng available margin from gross margin. Collateral shares and funded shares purchased under MTF (Funded Shares) shall be marked to market daily for the purpose of computng the margin/shortage of margin.
j. Client in margin default shall contnue to be in margin default, untl the required margin is furnished in full to eliminate the shortage. Partal payment of margin or a change in the required margin shall not extend the tme stpulated for making margin payment which will run from the tme of making margin call to the Client.
k. Paytm Money reserves the right to withdraw MTF with respect to any Client without assigning any reason afer giving a reasonable notce to the Client in which case dues if any outstanding in the account of the Client shall become payable immediately. Failure to make payment of the outstanding dues shall result in liquidaton of collateral and/or funded shares held in Client’s account.
l. Client may terminate the MTF account afer paying all dues in the MTF account and shall provide writen intmaton to Paytm Money.
m. Paytm Money may at its opton allow client to buy further shares under MTF on the basis of increase in the value of collateral shares, subject to applicable haircut. Further purchase shall not be permited on the basis of increase in the market value of funded shares.
n. Admitng clients for MTF shall be at the discreton of the Paytm Money. Clients' request for admission to MTF may be disallowed without assigning any reason.
o. Outstanding dues shall not be carried in the books beyond 90 days from the date of accrual and in case Client fails to pay up the dues within the said 90 days, collateral and/or funded shares shall be sold to liquidate the dues, even though applicable margin is available in the MTF account of the Client. For this purpose, 90 days shall be computed with respect to each debit entry in respect of purchases under MTF separately and liquidaton shall be carried out accordingly. Paytm Money shall have discreton to sell any stock/stocks to liquidate the outstanding dues older than 90 days.
p. Client shall be free to take delivery of the shares purchased under MTF anytme, but not later than 90 days, from the date of funding by making full payment of the outstanding dues in relaton to the shares purchased.
q. If the client does not pay within the tme prescribed, client agrees and understands that Paytm Money shall the right to charge interest upto the rate of 36% p.a. on the outstanding amount beyond the due date
r. Untl full payment of the outstanding dues in the MTF Account is made by the Client, collateral shares and funded shares, as far as may be required, shall be retained separately in the /emat A/c of Paytm Money
s. /aily margin statement sent to the MTF clients shall identfy margin/collateral for MTF transacton separately.
t. Applicable minimum inital margin, increased margin, margin shortall, if any, can be paid in the form of cash, or eligible security with appropriate hair cut as speciied in SEBI from tme to tme. Client shall have the right to change collateral securites provided under the MTF with other collateral securites provided that such other collateral securites are approved and sufcient to meet the margin required.
u. MTF account where there is no transacton under MTF for more than 90 days shall be setled immediately on expiry of said 90 days provided there are no dues outstanding in the MTF account. /ues if any outstanding in the normal trading account shall be irst adjusted against the setlement amount and the remainder shall be paid to the Client.
v. Paytm Money shall have the right to levy fees and other charges as displayed on Paytm Money’s platorm from tme to tme for availing MTF and the same shall be debited from the Client’s account on accrual basis.
w. By agreeing to avail of MTF, the client shall be deemed to have authorized Paytm Money to retain and/ or pledge the shares purchased under MTF (funded shares) and collateral shares provided as margin tll the amount due in respect of the purchase and all other dues are paid in full by the Client.
x. Client admited to MTF shall be deemed to have opted to treat unpaid shares held in Client’s account with Paytm Money as shares purchased in terms of the MTF and corresponding accrued outstanding dues shall be treated accordingly. In this case, Client shall furnish additonal collateral shares, required to bring up available margin to the level of inital minimum margin required under MTF, within the prescribed tme afer receiving margin call. Opton to treat accrued outstanding dues as funding made under MTF shall be available only where the outstanding due is less than 90 days old.
y. The client shall not take positon in a company scrip in MTF through Paytm Money, if the client is a promoter of that company. If a client being promoter of the company scrip inadvertently takes positon in MTF in that scrip then he/she shall immediately inform Paytm Money of the same (before 6.00 pm of the trade date) by sending an email to firstname.lastname@example.org so that appropriate reportng could be made to Stock Exchanges.
z. Clients are therefore required to monitor their mark to market losses vis-à-vis margin availability on a real tme basis.
aa. In case of trading holidays in between, then the MTF square off date (T+n) may get further delayed by that number of trade holidays from the trade initiation date
ab. The Rights and Obligations prescribed hereinabove shall be read in conjunction with the rights and obligations as prescribed under SEBI circular No. CIR/ MIRSD/ 16/ 2011 dated August 22, 2011, SEBI Circular No. CIR/MRD/DP/54/2017 Dtd. June 13, 2017, the Circulars relating to MTF issued by the respective Stock Exchanges, any modifications thereto from time to time and the Policies and Procedures prescribed by Paytm Money and the terms and conditions of client’s agreement with Paytm Money. In case of any inconsistencies between the Rights and Obligations herein and the provisions in the aforesaid SEBI and/or Stock Exchange Circulars, the later shall prevail to the extent of such inconsistencies.
RIGHTS AND OBLIGATIONS OF MEMBERS, AUTHORIZED PERSONS AND CLIENTS as prescribed by SEBI and Commodity Exchanges
1. The client shall invest/trade in those commodities /contracts/other instruments admitted to dealings on the Exchanges as defined in the Rules, Byelaws and Business Rules/ Regulations of Exchanges/SEBI and circulars/notices issued there under from time to time.
2. Paytm Money, Authorized Person and the client shall be bound by all the Rules, Byelaws and Business Rules of the Exchange and circulars/notices issued there under and Rules and Regulations of SEBI and relevant notifications of Government authorities as may be in force from time to time.
3. The client shall satisfy himself of the capacity of Paytm Money to deal in commodities and/or deal in derivatives contracts and wishes to execute its orders through Paytm Money and the client shall from time to time continue to satisfy itself of such capability of Paytm Money before executing orders through Paytm Money.
4. Paytm Money shall continuously satisfy itself about the genuineness and financial soundness of the client and investment objectives relevant to the services to be provided.
5. Paytm Money shall take steps to make the client aware of the precise nature of the Paytm Money’s liability for business to be conducted, including any limitations, the liability and the capacity in which Paytm Money acts.
6. Requirements of professional diligence
7. The Authorized Person shall provide necessary assistance and co-operate with Paytm Money in all its dealings with the client(s).
8. The client shall furnish all such details in full as are required by Paytm Money in "Account Opening Form” with supporting details, made mandatory by commodity exchanges/SEBI from time to time.
9. The client shall familiarize himself with all the mandatory provisions in the Account Opening documents. Any additional clauses or documents specified by Paytm Money shall be non-mandatory; therefore, subject to specific acceptance by the client.
10. The client shall immediately notify Paytm Money in writing if there is any change in the information in the ‘account opening form’ as provided at the time of account opening and thereafter; including the information on winding up petition/insolvency petition or any litigation which may have material bearing on his capacity. The client shall provide/update the financial information to Paytm Money on a periodic basis.
11. Paytm Money and Authorized Person shall maintain all the details of the client as mentioned in the account opening form or any other information pertaining to the client, confidentially and that they shall not disclose the same to any person/authority except as required under any law/regulatory requirements. Provided however that Paytm Money may so disclose information about his client to any person or authority with the express permission of the client.
12. Protection of personal information and confidentiality
14. The client shall pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by Paytm Money or the Exchange or as may be directed by SEBI from time to time as applicable to the segment(s) in which the client trades. Paytm Money is permitted in its sole and absolute discretion to collect additional margins (even though not required by the Exchange or SEBI) and the client shall be obliged to pay such margins within the stipulated time.
15. The client understands that payment of margins by the client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the client may, on the settlement of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/require.
TRANSACTIONS AND SETTLEMENTS
16. The client shall give any order for buy or sell of commodities derivatives contract in writing or in such form or manner, as may be mutually agreed between the client and Paytm Money however ensuring the regulatory requirements in this regard are complied with. Paytm Money shall ensure to place orders and execute the trades of the client, only in the Unique Client Code assigned to that client.
17. Paytm Money shall inform the client and keep him apprised about trading/settlement cycles, delivery/payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the client to comply with such schedules/procedures of the relevant commodity exchange where the trade is executed.
18. Paytm Money shall ensure that the money deposited by the client shall be kept in a separate account, distinct from his/its own account or account of any other client and shall not be used by Paytm Money for himself/itself or for any other client or for any purpose other than the purposes mentioned in Rules, circulars, notices, guidelines of SEBI and/or Rules, Business Rules, Bye-laws, circulars and notices of Exchange.
19. Where the Exchange(s) cancels trade(s) suo moto all such trades including the trade/s done on behalf of the client shall ipso facto stand cancelled, Paytm Money shall be entitled to cancel the respective contract(s) with client(s).
20. The transactions executed on the Exchange are subject to Rules, Byelaws and Business Rules and circulars/notices issued thereunder of the Exchanges where the trade is executed and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Byelaws and Business Rules of the Exchanges where the trade is executed for the purpose of giving effect to the provisions of the Rules, Byelaws and Business Rules of the Exchanges and the circulars/notices issued thereunder.
21. The Client shall pay to Paytm Money brokerage and statutory levies as are prevailing from time to time and as they apply to the Client’s account, transactions and to the services that Paytm Money renders to the Client. Paytm Money shall not charge brokerage more than the maximum brokerage permissible as per the Rules, Business Rules and Bye-laws of the relevant commodity exchanges and/or Rules of SEBI.
LIQUIDATION AND CLOSE OUT OF POSITION
22. Without prejudice to Paytm Money 's other rights (including the right to refer a matter to arbitration), the client understands that Paytm Money shall be entitled to liquidate/close out all or any of the client's positions for non-payment of margins or other amounts, outstanding debts, etc. and adjust the proceeds of such liquidation/close out, if any, against the client's liabilities/obligations. Any and all losses and financial charges on account of such liquidation/closing-out shall be charged to and borne by the client.
23. In the event of death or insolvency of the client or his/its otherwise becoming incapable of receiving and paying for or delivering or transferring commodities which the client has ordered to be bought or sold, Paytm Money may close out the transaction of the client and claim losses, if any, against the estate of the client. The client or his nominees, successors, heirs and assignee shall be entitled to any surplus which may result there from. The client shall note that transfer of funds/commodities in favor of a Nominee shall be valid discharge by Paytm Money against the legal heir.
24. Paytm Money shall co-operate in redressing grievances of the client in respect of all transactions routed through it.
25. The client and Paytm Money shall refer any claims and/or disputes with respect to deposits, margin money, etc., to arbitration as per the Rules, Byelaws and Business Rules of the Exchanges where the trade is executed and circulars/notices issued thereunder as may be in force from time to time.
26. The client/ Paytm Money understands that the instructions issued by an authorized representative for dispute resolution, if any, of the client/ Paytm Money shall be binding on the client/ Paytm Money in accordance with the letter authorizing the said representative to deal on behalf of the said client/ Paytm Money.
TERMINATION OF RELATIONSHIP
27. This relationship between Paytm Money and the client shall be terminated; if Paytm Money for any reason ceases to be a member of the commodity exchange including cessation of membership by reason of Paytm Money 's default, death, resignation or expulsion or if the certificate is cancelled by the Exchange.
28. Paytm Money, Authorized Person and the client shall be entitled to terminate the relationship between them without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to the termination of this relationship shall continue to subsist and vest in/be binding on the respective parties or his/its respective heirs, executors, administrators, legal representatives or successors, as the case may be.
29. In the event of demise/insolvency of the Authorized Person or the cancellation of his/its registration with the Board or/withdrawal of recognition of the Authorized Person by the commodity exchange and/or termination of the agreement with the Authorized Person by Paytm Money , for any reason whatsoever, the client shall be informed of such termination and the client shall be deemed to be the direct client of Paytm Money and all clauses in the ‘Rights and Obligations’ document(s) governing Paytm Money, Authorized Person and client shall continue to be in force as it is, unless the client intimates to Paytm Money his/its intention to terminate their relationship by giving a notice in writing of not less than one month.
ADDITIONAL RIGHTS AND OBLIGATIONS
30. Paytm Money and client shall reconcile and settle their accounts from time to time as per the Rules, Business Rules, Bye Laws, Circulars, Notices and Guidelines issued by SEBI and the relevant Exchanges where the trade is executed.
31. Paytm Money shall issue a contract note to his clients for trades executed in such format as may be prescribed by the Exchange from time to time containing records of all transactions including details of order number, trade number, trade time, trade price, trade quantity, details of the derivatives contract, client code, brokerage, all charges levied etc. and with all other relevant details as required therein to be filled in and issued in such manner and within such time as prescribed by the Exchange. Paytm Money shall send contract notes to the investors within 24 hours of the execution of the trades in hard copy and/or in electronic form using digital signature.
32. Paytm Money shall make pay out of funds or delivery of commodities as per the Exchange Rules, Bye-Laws, Business Rules and Circulars, as the case may be, to the Client on receipt of the payout from the relevant Exchange where the trade is executed unless otherwise specified by the client and subject to such terms and conditions as may be prescribed by the relevant Exchange from time to time where the trade is executed.
33. Paytm Money shall send a complete `Statement of Accounts’ for both funds and commodities in respect of each of its clients in such periodicity and format within such time, as may be prescribed by the relevant Exchange, from time to time, where the trade is executed. The Statement shall also state that the client shall report errors, if any, in the Statement within such time as may be prescribed by the relevant Exchange from time to time where the trade was executed, from the receipt thereof to the Stock broker.
34. Paytm Money shall send margin statements to the clients on daily basis. Margin statement should include, inter-alia, details of collateral deposited, collateral utilized and collateral status (available balance/due from client) with break up in terms of cash, Fixed Deposit Receipts (FDRs), Bank Guarantee, warehouse receipts, securities etc.
35. The Client shall ensure that it has the required legal capacity to, and is authorized to, enter into the relationship with Paytm Money and is capable of performing his obligations and undertakings hereunder. All actions required to be taken to ensure compliance of all the transactions, which the Client may enter into shall be completed by the Client prior to such transaction being entered into.
36. In case, where Paytm Money surrenders its membership, it shall give a public notice inviting claims, if any, from investors. In case of a claim relating to transactions executed on the trading system of the Exchange, ensure that client lodge a claim with the Exchange within the stipulated period and with the supporting documents.
ELECTRONIC CONTRACT NOTES (ECN)
37. In case, client opts to receive the contract note in electronic form, he shall provide an appropriate e-mail id (created by the client) to Paytm Money. Paytm Money shall ensure that all the rules/Business Rule/Bye-Laws/ circulars issued from time to time in this regard are complied with. The client shall communicate to Paytm Money any change in the email-id through a physical letter. If the client has opted for internet trading, the request for change of email id may be made through the secured access by way of client specific user id and password.
38. Paytm Money shall ensure that all ECNs sent through the e-mail shall be digitally signed, encrypted, non-tamperable and in compliance with the provisions of the IT Act, 2000. In case, ECN is sent through e-mail as an attachment, the attached file shall also be secured with the digital signature, encrypted and non-tamperable.
39. The client shall note that non-receipt of bounced mail notification by Paytm Money shall amount to delivery of the contract note at the e-mail ID of the client.
40. Paytm Money shall retain ECN and acknowledgement of the e-mail in a soft and non-tamperable form in the manner prescribed by the exchange in compliance with the provisions of the IT Act, 2000 and as per the extant rules/circulars/guidelines issued by SEBI/Commodity exchanges from time to time. The proof of delivery i.e., log report generated by the system at the time of sending the contract notes shall be maintained by Paytm Money for the specified period under the extant rules/circulars/guidelines issued by SEBI/Commodity exchanges. The log report shall provide the details of the contract notes that are not delivered to the client/e-mails rejected or bounced back. Paytm Money shall take all possible steps to ensure receipt of notification of bounced mails by him at all times within the stipulated time periodunder the extant rules/circulars/guidelines issued by SEBI/Commodity exchanges.
41. Paytm Money shall continue to send contract notes in the physical mode to such clients who do not opt to receive the contract notes in the electronic form. Wherever the ECNs have not been delivered to the client or has been rejected (bouncing of mails) by the e-mail ID of the client, Paytm Money shall send a physical contract note to the client within the stipulated time under the extant Regulations/ Rules, Bye-Laws, Business Rules and Circulars of SEBI/commodity exchanges and maintain the proof of dispatch and delivery of such physical contract notes.
42. In addition to the e-mail communication of the ECNs to the client, Paytm Money shall simultaneously publish the ECN on his designated web-site, if any, in a secured way and enable relevant access to the clients and for this purpose, shall allot a unique user name and password to the client, with an option to the client to save the contract note electronically and/or take a print out of the same.
43. The Electronic Contract Note (ECN) declaration form obtained from the Client who opts to receive the contract note in electronic form. This declaration will remain valid till it is revoked by the client.
LAW AND JURISDICTION
44. In addition to the specific rights set out in this document, Paytm Money, Authorised Person and the client shall be entitled to exercise any other rights which Paytm Money or the client may have under the Rules, Bye-laws and Business Rules of the Exchanges in which the client chooses to trade and circulars/notices issued thereunder or Rules of SEBI.
45. The provisions of this document shall always be subject to Government notifications, any rules, guidelines and circulars/notices issued by SEBI and Circulars, Rules, Business Rules and Bye laws of the relevant commodity exchanges, where the trade is executed, that may be in force from time to time.
46. Paytm Money and the client shall abide by any award passed by the Arbitrator(s) under the Arbitration and Conciliation Act, 1996. However, there is also a provision of appeal, if either party is not satisfied with the arbitration award.
47. Words and expressions which are used in this document but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the Rules, Byelaws and Regulations/Business Rules and circulars/notices issued thereunder of the Exchanges/SEBI.
48. All additional voluntary/non-mandatory clauses/document added by Paytm Money should not be in contravention with Rules/ Business Rules/Notices/Circulars of Exchanges/SEBI. Any changes in such voluntary clauses/document(s) need to be preceded by a notice of 15 days. Any changes in the rights and obligations which are specified by Exchanges/SEBI shall also be brought to the notice of the clients.
49. If the rights and obligations of the parties hereto are altered by virtue of change in Rules of SEBI or Bye-laws, Rules and Business Rules of the relevant commodity exchanges where the trade is executed, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this document.
50. Paytm Money will send account statement to its clients every month.
INTERNET & WIRELESS TECHNOLOGY BASED TRADING FACILITY PROVIDED BY MEMBERS TO CLIENT (All the clauses mentioned in the ‘Rights and Obligations’ document(s) shall be applicable. Additionally, the clauses mentioned herein shall also be applicable.)
1. Paytm Money is eligible for providing Internet based trading (IBT) and commodities trading through the use of wireless technology that shall include the use of devices such as mobile phone, laptop with data card, etc. which use Internet Protocol (IP). Paytm Money shall comply with all requirements applicable to internet based trading/- commodities trading using wireless technology as may be specified by SEBI& the Exchanges from time to time.
2. The client is desirous of investing/trading in commodities and for this purpose, the client is desirous of using either the internet based trading facility or the facility for commodities trading through use of wireless technology. Paytm Money shall provide Paytm Money ’s IBT Service to the Client, and the Client shall avail of Paytm Money ’s IBT Service, on and subject to SEBI/Exchanges Provisions and the terms and conditions specified on Paytm Money ’s IBT Web Site provided that they are in line with the norms prescribed by Exchanges/SEBI.
3. Paytm Money shall bring to the notice of client the features, risks, responsibilities, obligations and liabilities associated with commodities trading through wireless technology/internet or any other technology should be brought to the notice of the client by Paytm Money.
4. Paytm Money shall make the client aware that Paytm Money ’s IBT system itself generates the initial password and its password policy as stipulated in line with norms prescribed by Exchanges/SEBI.
5. The Client shall be responsible for keeping the Username and Password confidential and secure and shall be solely responsible for all orders entered and transactions done by any person whosoever through Paytm Money ’s IBT System using the Client’s Username and/or Password whether or not such person was authorized to do so. Also the client is aware that authentication technologies and strict security measures are required for the internet trading/ commodities trading through wireless technology through order routed system and undertakes to ensure that the password of the client and/or his authorized representative are not revealed to any third party including employees and dealers of Paytm Money.
6. The Client shall immediately notify Paytm Money in writing if he forgets his password, discovers security flaw in Paytm Money’s IBT System, discovers/suspects discrepancies/ unauthorized access through his username/password/account with full details of such unauthorized use, the date, the manner and the transactions effected pursuant to such unauthorized use, etc.
7. The Client is fully aware of and understands the risks associated with availing of a service for routing orders over the internet/ commodities trading through wireless technology and Client shall be fully liable and responsible for any and all acts done in the Client’s Username/password in any manner whatsoever.
8. Paytm Money shall send the order/trade confirmation through email to the client at his request. The client is aware that the order/ trade confirmation is also provided on the web portal. In case client is trading using wireless technology, Paytm Money shall send the order/trade confirmation on the device of the client.
9. The client is aware that trading over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc. are susceptible to interruptions and dislocations. Paytm Money and the Exchange do not make any representation or warranty that Paytm Money ’s IBT Service will be available to the Client at all times without any interruption.
10. The Client shall not have any claim against the Exchange or Paytm Money on account of any suspension, interruption, non-availability or malfunctioning of Paytm Money ’s IBT System or Service or the Exchange’s service or systems or non-execution of his orders due to any link/system failure at the Client/ Paytm Money ‘s/Exchange end for any reason beyond the control of Paytm Money /Exchanges.
Get our monthly newsletter from Advisory Desk
Investments in securities market are subject to market risk, read all the related documents carefully before investing.
We collect, retain, and use your contact information for legitimate business purposes only, to contact you and to provide you information & latest updates regarding our products & services. We do not sell or rent your contact information to third parties. Please note that by submitting the above mentioned details, you are authorising us to Call/SMS you even though you may be registered under DND. We shall Call/SMS you for a period of 12 months.
Exchange disclaimer:"The Bombay Stock Exchange/National Stock Exchange of India Ltd is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc, of any of the Rules, Regulations, Bye-laws of the Bombay Stock Exchange, National Stock Exchange of India Ltd, SEBI Act or any other laws in force from time to time.
The Bombay Stock Exchange/National Stock Exchange of India Ltd is not answerable, responsible or liable for any information on this Website or for any services rendered by us, our employees, and our servants.
If you do not agree to any of the Terms and Conditions mentioned in this agreement, you should exit the site."
Risk:"Investments in securities market are subject to market risk, read all the related documents carefully before investing.
We collect, retain, and use your contact information for legitimate business purposes only, to contact you and to provide you information & latest updates regarding our products & services.
We do not sell or rent your contact information to third parties.
Please note that by submitting the above mentioned details, you are authorizing us to Call/SMS you even though you may be registered under DND. We shall Call/SMS you for a period of 12 months."
Attention to Investors:"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in the investor's account.
Prevent Unauthorized Transactions in your demat account ; Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day
Prevent Unauthorised transactions in your account; Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile / email at the end of the day "
"Attention to Investors:
1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
3. Pay applicable upfront margin of the transaction value to trade in cash market segment.
4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 & vide notice no. BSE 20200731-7 dated July 31, 2020 and BSE 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.
5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month."