Terms of use

The words I/We, Me/Us, My/Our, Customer refers to the person(s) who open the account(s) and shall mean and include both singular and plural.

I agree to become a member of ASSCCL in the state of Karnataka/Maharashtra, as applicable and consent to the purchase of 1 (one) share of ASSCCL in the state of Karnataka for a fee of upto a maximum of INR 1,000/ (Rupees One Thousand only).

I agree to abide by the ASSCCL’s Terms and Conditions, Chargeback Policy, and rules in force and the changes in Terms and Conditions from time to time relating to my account.

I agree that the opening and maintenance of the account is subject to rules and regulations introduced or amended from time to time by the State of Karnataka.

I agree that the ASSCCL will be at liberty to close my account any time without assigning any reason whatsoever.

I agree that ASSCCL can, at its sole discretion, withdraw any of the services/facilities given in my account either wholly or partially at any time without giving me any notice.

I agree that any change in my account status or change of address will be immediately informed to ASSCCL.

I agree that all instructions relating to my account will be issued in writing satisfactory to ASSCCL in form and content.

I agree that I will maintain the minimum balance, if any, in my account as prescribed by ASSCCL, as communicated to me from time to time.

I agree that I shall be liable to pay all charges, fees, interest, costs wherever applicable, which ASSCCL in its absolute discretion may levy with respect to my account or any transaction and the same may be recovered by ASSCCL by a debit to my account.

I agree that I shall not pay any amount in cash to any Sales Representative of ASSCCL at the time of opening an account or carrying out any transaction in the normal course of the business.

I agree that ASSCCL will send me communications/letters/etc. through courier/messenger/mail or through any other mode at its discretion and ASSCCL shall not be liable for any loss or delay arising therefrom.

I agree that the passwords, Debit / ATM Cards & PINs will be dispatched by courier (or any other mode at the ASSCCL’s discretion) at my risk and consequence. I shall not hold ASSCCL liable in any manner what so ever in respect of such dispatch of these items.

I agree that my signature will be stored with ASSCCL in an encrypted format and all necessary security measures will be taken to ensure the safety of my signature. I agree that my signature will be affixed to electronically generated deposit and withdrawal slips, as and when I make deposits and withdrawals from Spark App.

I agree and undertake to ensure that there would be sufficient funds/cleared balance/pre-arranged credit facilities in my account for effecting transactions. I agree that ASSCCL shall not be liable for any consequences arising out of non-compliance by ASSCCL of my instructions due to inadequacy of funds and ASSCCL can at its sole discretion decide to carry out the instructions notwithstanding the inadequacy of funds.

ASSCCL may do the aforesaid without prior approval from or notice to me and I shall be liable to repay with interest the resulting advance, overdraft or credit thereby created and all related charges arising thereby @ Prime Lending rate +5% p.a. compounded quarterly. I agree that ASSCCL shall not be liable for any damages, losses (direct or indirect) whatsoever, due to disruption or non-availability of any of services/facility/s due to technical fault/error or any failure in the telecommunication network or any error in any software or hardware systems.

I agree that ASSCCL may disclose customer information, in strict confidence, to any of its agent/s and/or contractors with whom ASSCCL enters or has entered into any arrangement in connection with providing of services. I agree that in case of a dispute, the matter will be settled by arbitration as per the rules of Indian Arbitration and Conciliation Act 1996.

Further, the office of the Managing Director of ASSCCL or any other person nominated by it will be the sole arbitrator and that the place of arbitration will be Bangalore.


I agree to ensure sufficient balance in my savings account before initiating transactions.


I hereby declare that I am not enjoying credit facilities with any of the ASSCCL’s branches or any other financial institution at the time of opening this current account. I undertake to inform ASSCCL in writing in case any credit facility is availed of by me I agree to repay to ASSCCL on demand, unconditionally, the amounts of overdrafts that ASSCCL may grant me from time to time, together with interest accrued thereon.

I agree that this does not imply that ASSCCL is bound to grant me any credit facility whatsoever.


Definitions and Interpretations:

“Spark App Terms and Conditions” shall mean the terms and conditions as modified from time to time applicable to Spark App services offered by ASSCCL.

“Confidential Information” refers to information obtained by the customer, through ASSCCL, for the effective availment of Services or Payment Instruction Services” business portal services;

“Payment Instruction” shall mean an instruction given by a Customer to transfer funds from the Account held by the Customer to accounts held by other approved customers with ASSCCL and /or in the name of the beneficiary who may or may not have an account with ASSCCL. ASSCCL may in its sole and exclusive discretion confine this facility only to certain permitted Customers or may extend it from time to time to be generally available to all customers;

“Internet” refers to the network of computers / mobile phones / other electronic devices which share and exchange information. The Internet is at once a world-wide broadcasting capability, mechanism for information dissemination, and a medium for collaboration and interaction between individuals and their computers / mobile phones / other electronic devices capable of accessing the Internet without regard for geographic location.

“Spark App Services” is ASSCCL’s Service which provides access to account information, products and other services as advised by ASSCCL from time to time to the Customers through the Internet. The terms Spark App and Spark App services Services/facility may be interchangeably used.

“Customer” refers to any person who has an Account and who has been authorized by ASSCCL to avail of the said facility.

“Account” refers to the Customer’s Savings and/or Current Account and/or Fixed Deposit or RP account opened with ASSCCL to be eligible account(s) for operations through the use of Spark App.

“Personal Information” refers to the information about the Customer obtained in connection with Spark App Services.

“Application for Spark App Services” ASSCCL may offer Spark App services to selected Customers at its discretion. I agree that in order to be eligible for Spark App services I would need to be a current Internet user or have access to the Internet and knowledge of how the Internet works. I accept that the application for Spark App Services does not automatically imply acceptance by ASSCCL.

“Software” ASSCCL will advise from time to time the Internet software such as Browsers, which are required for using Spark App Services. There will be no obligation on ASSCCL to support all the versions of this Internet software. I agree that I shall be responsible for upgrading my software, hardware and the operating system at my cost from time to time so as to be compatible with that of ASSCCL. ASSCCL shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc., from time to time and shall be under no obligation to support the software, hardware, operating systems used by me and that the same shall be my sole responsibility.

“Spark App Service” ASSCCL shall endeavor to provide through its Spark App, such services as it may decide from time to time. ASSCCL reserves the right to decide the type of services which may be offered on each account and may differ from customer to customer. These facilities shall be offered in a phased manner at the discretion of ASSCCL. ASSCCL may also make additions / deletions to the services offered through its Spark App at its sole discretion. The availability / non-availability of a particular service shall be advised through e-mail or web page of ASSCCL or written communication. All accounts opened with ASSCCL attached to the same Customer Identification Number will be accessible through its Spark App. ASSCCL shall take reasonable care to ensure the security of and prevent unauthorized access to the Spark App service using technology reasonably available to ASSCCL.

I agree that I shall not use or permit to use the Spark App or any related service for any illegal or improper purposes.

The Customer shall query on the net for the transactions and holding information. The Customer agrees that the results of the query generated on the Internet shall substitute such statements.

The Customer acknowledges that all information provided in the Spark App is obtained by ASSCCL from sources believed by ASSCCL to be accurate and reliable. Because of the possibility of human and technical error as well as other factors, ASSCCL is not responsible for any errors of omissions.

The development of the products and services of ASSCCL is a continuous process and published information on the Internet may not be up to date. The formats, update frequency and retention period of the information will be decided at the sole discretion of ASSCCL. All information is provided on ‘as is’ basis without warranty of the kind. ASSCCL makes no representation and disclaims all express, implied and statutory warranties of any kind to the user and/or any third party including warranties as to accuracy, timeliness, completeness, merchantability or fitness of the information for any particular purpose. All proprietary rights in the information received shall remain the property of ASSCCL. Reproduction, redistribution and transmission of any information contained on the web site or the Spark App is strictly prohibited. Access to this web site is a confirmation by you that you have understood and accepted these terms.


I understand that ASSCCL will allot me a Member-ID/ Member-ID and a Spark App password in the first instance. I will be required to change the password assigned by ASSCCL on accessing the Spark App for the first time. As a safety measure I shall change the password as frequently thereafter as possible. I agree that in the absence of any specific request from me for personally collecting the PIN, the PIN shall be sent to me by courier at my risk and consequences to the address notified by me for correspondence, and ASSCCL shall be not liable or held responsible in any manner whatsoever, if the IPIN falls in the hands of unauthorised person/s.

In addition to Member-ID and Password ASSCCL may, at its discretion, require me to adopt such other means of authentication including but not limited to digital certification and / or smart cards. I agree that I shall not attempt or permit others to attempt accessing the account information stored in the computers of ASSCCL through any means other than the Spark App service.

I am aware that the transaction through Spark App service can be effected by use of my PIN only. I shall not request /demand any evidence of proof for transactions undertaken through the Net and the audit trail of the log-in would be conclusive proof to establish that the transactions are bonafide.


I understand and agree that I must :

Keep the password totally confidential and not reveal the password to any third party;

Keep any and all one time password (OTP), sent by ASSCCL via email or SMS to my registered email address and registered mobile number respectively totally confidential and not reveal the same to any third party;

Choose a password which shall be at least 6 characters long and shall consist of a mix of alphabets, numbers and special characters which must not relate to any readily accessible personal data such as my name, address, telephone number, driver license etc. or easily guessable combination of letters and number;

Commit the password to memory and not record them in a written or electronic form, and not let any unauthorized person have access to my computer or leave the computer unattended while accessing the Spark App service.

In case I forget the Spark App service password, I can request for change of the password. Such replacement shall not be construed/deemed as the commencement of a new contract.


I authorize ASSCCL to recover all charges related to Spark App service as determined by ASSCCL from time to time by debiting my account.


All correspondence / delivery by ASSCCL shall only be made at the address and / or e-mail address as registered with ASSCCL.


All the requests for instantaneous transactions will be given effect to instantaneously. All the requests for non-instantaneous transactions such as Fixed Deposit Opening etc. will be carried out at the end of the day on first in first out basis subject to availability of clear funds in the account authorised for debit. In case requests for effecting any transactions are received on weekly offs/holiday/public holidays, they shall be effected on the immediately succeeding working day on the terms and conditions prevailing on that day.

I shall not hold ASSCCL responsible for not processing/effecting any transactions in case ASSCCL does not receive instruction to this effect even though I have forwarded the same.

I hereby agree to abide by the following terms and conditions in addition to the terms and conditions as applicable to the Spark App:

I/We shall be free to utilise the Payment Instruction Services through the Spark App for transfer of funds for such purpose, as I/we shall deem fit I/We however agree not to use or permit the use of the Payment Instruction Services or any related services for any illegal or improper purposes.

Whilst utilising the Payment Instruction Services for making any payments for any goods purchased or any services obtained whether on-line or otherwise, I/We shall ensure that I/We have the full right and/or authority to access and avail of the services obtained and the goods purchased and I/We shall observe and comply with the applicable laws and regulations in each jurisdiction in applicable territories;

I/We shall not involve ASSCCL as a party to such transaction;

I/We shall provide ASSCCL with such information and/or assistance as is required by ASSCCL for the performance of the Services and/or any other obligations of ASSCCL under this Agreement.

I/We shall not at any time provide to any person, with any details of the accounts held by me/us with ASSCCL including, the passwords, account number, card numbers and PIN which may be assigned to me/us by ASSCCL from time to time.

Risks: I/We hereby acknowledge that I/We are availing the Payment Instruction Service at my/our own risk. These risks would include but not be limited to the following risks:

Misuse of Password:

I/We acknowledge that if any third person obtains access to my/our password of the Customer, such third person would be able to provide Payment Instructions to ASSCCL. I/We shall ensure that the terms and conditions applicable to the use of the password as contained in the Spark App Terms and Conditions are complied with at all times..

Internet Frauds:

The Internet per se is susceptible to a number of frauds, misuse, hacking and other actions which could affect Payment Instructions to ASSCCL. Whilst ASSCCL shall aim to provide security to prevent the same, there cannot be any guarantee from such Internet frauds, hacking and other actions which could affect Payment Instructions to ASSCCL. I/We shall separately evolve/ evaluate all risks arising out of the same.

Mistakes and Errors: The filling in of applicable data for transfer of funds and/or issue of Demand Drafts would require proper, accurate and complete details. For instance, I/We are aware that I/We would be required to fill in the account number of the person to whom the funds are to be transferred.

Similarly in the case of request for third party transfers I would be required to fill in the correct details such as the name of the payee (who may or may not have an account with ASSCCL), mailing address, amount of the third party transfers and the city/state where the third party transfer is payable. In the event of any inaccuracy in this regard, the funds could be transferred to incorrect accounts or the third party transfers maybe incorrectly issued or sent to a wrong address and there is no guarantee of recovery thereafter. I/We shall therefore take all care to ensure that there are no mistakes and errors and that the information given by me/us to ASSCCL in this regard is error free, accurate, proper and complete at all points of time. I agree that ASSCCL is providing the Services at my sole risk. I agree that ASSCCL shall not be liable for any loss, damages or consequences whatsoever arising due to any erroneous or incomplete information or any delay in executing the instructions for reasons beyond the control of ASSCCL. On the other hand in the event of my Account receiving an incorrect credit by reason of a mistake committed by some other person, ASSCCL shall be entitled to reverse the incorrect credit at any time whatsoever without the consent of the Customer. I/We shall be liable and responsible to ASSCCL and accede to accept ASSCCL’s instructions without questions for any unfair or unjust gain obtained by me as a result of the same.


The transactions, which I/We may require, the transfer of the funds or issue of third party transfers may not fructify or may not be completed by the parties to whom I/we request ASSCCL to transfer the funds or issue of third party transfers. ASSCCL is not in any manner involved in the said transactions and contracts and my/our sole recourse in this regard shall be with the party with whom I/We have the transactions. ASSCCL is merely providing me services whereby the said funds would be transferred on my/our instructions The transaction(s) for transfer of funds as per my/our instruction may not fructify or may not be completed for any reason whatsoever, in such cases, I/We shall not hold ASSCCL responsible or involved in any manner in the said transaction(s) and contracts and my/our sole recourse in this regard shall be with the party to whom the transaction my/our instruction was favouring the transfer of funds. ASSCCL is merely providing me/us the services whereby the said funds would be transferred at my /our instructions.

Technology Risks: The technology for enabling the transfer of funds and the other services offered by ASSCCL could be affected by virus or other malicious, destructive or corrupting code, programme or macro. It may also be possible that the site of ASSCCL may require maintenance and during such time it may not be possible to process the request of the Customers. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. I/We understand that ASSCCL disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by ASSCCL to honour any customer instruction for whatsoever reason. I/We understand and I/We accept that ASSCCL shall not be responsible for any of the aforesaid risks. I/We also accept that ASSCCL shall disclaim all liability in respect of the said risks. Limits: I/We are aware that ASSCCL may from time to time impose maximum and minimum limits on transfer of funds that may be transferred or amount of the DD that can be issued by virtue of the payment transfer service given to me/us hereunder. I/We realise and accept and agree that the same is to reduce the risks on me/us. For instance, ASSCCL may impose transaction restrictions within particular periods or amount restrictions within a particular period or even each transaction limits. I/We shall be bound by such limits imposed and shall strictly comply with them.

Indemnity: I/We shall indemnify ASSCCL from and against all losses and damages that may be caused as a consequence of breach of any of the Spark App Terms and Conditions and the terms and conditions mentioned herein above.

Withdrawal of Facility: ASSCCL shall be entitled to withdraw this service at any time whatsoever Charges: I/We hereby agree to bear the charges as may be stipulated by ASSCCL from time to time for availing of these services.

Binding nature of above terms and conditions: I/We agree that by use of this facility, I/We shall be deemed to have agreed to all the above terms and conditions and such terms and conditions shall be binding on us in the same manner as if I/we have agreed to the same in writing.


Spark App transactions in the Customer’s Account(s) are permitted only after authentication of the Member-ID and Password. I/We agree that I/We grant express authority to ASSCCL for carrying out the transactions performed by me/us through Spark App. ASSCCL  shall have no obligation to verify the authenticity of any transaction received from me/us through Spark App or purporting to have been sent by me/us via Spark App other than by means of verification of my Member-ID and the password. The display or printed output that is produced by me at the time of operation of Spark App is a record of the operation of the internet access and shall not be construed as ASSCCL’s record of the relative transactions. ASSCCL’s own record of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes unless any discrepancy is pointed out within one week from the date of access or from the date of sending the periodical statement, whichever is earlier. All transactions arising from the use of Spark App, to operate a joint account, shall be binding on all the joint account holders, jointly and severally.


I/We agree that I/We am responsible for the correctness of information supplied to ASSCCL through the use of Spark App or through any other means such as electronic mail or written communication. ASSCCL accepts no liability for the consequences arising out of erroneous information supplied by me/us. I/We agree that if I/We notice any error in the account information supplied to me/us through Spark App or by the use of any of the Spark App services, I/We shall advise ASSCCL as soon as possible. ASSCCL will endeavor to correct the error promptly and adjust any interest or charges arising out of the error. All outputs of statements are duplicate statements of account and will be prepared by electronic means and the information contained therein will be extracted from a computerised back up system maintained by ASSCCL. While ASSCCL will take all reasonable steps to ensure the accuracy of the statement, ASSCCL is not liable for any error.

I/We agree that I/We shall hold ASSCCL harmless against any loss, damages, etc. that may be incurred/ suffered by me/us, if the information contained in the above said outputs turns out to be inaccurate / incorrect.


I/We shall not be liable for any unauthorized transactions occurring through the use of Spark App, which can be attributed to the fraudulent or negligent conduct of the employees of ASSCCL. If I/We comply with the Terms and advise ASSCCL in writing under acknowledgment immediately after I/We suspect that my/our Member-ID or password is known to another person and/or notice an unauthorized transaction in my/our Spark App account, I/We shall not be liable for losses arising out of the unauthorized transactions occurring in the Spark App accounts after the receipt of such advice by ASSCCL. I/We agree that I/We shall be liable for some or all loss from unauthorized transactions in the Spark App accounts if I/We have breached the Terms or contributed or caused the loss by negligent actions such as the following. Keeping a written or electronic record of Spark App password. Disclosing or failing to take all reasonable steps to prevent disclosure of the Spark App password to anyone including ASSCCL staff and/or failing to advise ASSCCL of such disclosure within reasonable time Not advising ASSCCL in a reasonable time about unauthorized access to or erroneous transactions in the Spark App accounts. ASSCCL shall in no circumstances be held liable to the Customer if Spark App access is not available in the desired manner for reasons including but not limited to natural calamity, floods, fire and other natural disasters, legal restraints, faults in the telecommunication network or Internet or network failure, software or hardware error or any other reason beyond the control of ASSCCL. ASSCCL shall under no circumstances shall be liable for any damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character or nature whatsoever and whether sustained by me or any other person.


I/We agree that ASSCCL or its contractors may hold and process my/our Personal Information on computer or otherwise in connection with Spark App services as well as for statistical analysis and credit scoring. I/We also agree that ASSCCL may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of, but not limited to, the following:

  • For participation in any telecommunication or electronic clearing network
  • In compliance with a legal directive
  • For credit rating by recognized credit scoring agencies.
  • For fraud prevention purposes.


ASSCCL shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in my accounts, to the extent of all outstanding dues, whatsoever, arising as a result of the Spark App service extended to and/or used by me.


I/We acknowledge that the software underlying the Spark App service as well as other Internet related software which are required for accessing Spark App are the legal property of the respective vendors. The permission given by ASSCCL to access Spark App will not convey any proprietary or ownership rights in the above software. I/We agree that I/We shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Spark App or create any derivative product based on the software.


The grant of facility of Spark App to me/us is not transferable under any circumstance and shall be used only by me/us.

TERMINATION OF Spark App Service

I/We may request for termination of the Spark App facility any time by giving a written notice of at least 15 days to ASSCCL. I/We agree that I/We will remain responsible for any transactions made on my/our Spark App account(s) through Spark App prior to the time of such cancellation of the Spark App Service The closure of all my/our Accounts will automatically terminate the Spark App service. ASSCCL may suspend or terminate Spark App facilities without prior notice if these terms and conditions are breached.


ASSCCL and the I/We may give notices under these Terms and Conditions: Electronically to the mailbox of either party. Such notices will be regarded as being in writing. In writing by delivering them by hand or by sending them by post to the last address given by me/us and in the case of ASSCCL to the following address: #21/1, Manjushree Haudin Road, Bangalore – 560 042 Karnataka, India. In addition, ASSCCL may also publish notices of general nature, which are applicable to all Customers of Spark App on its web site. Such notices will have the same effect as a notice served individually to me/us.


These terms and conditions and/or the operations in the accounts of the Customer maintained by ASSCCL and/or the use of the services provided through Spark App shall be governed by the laws of the Republic of India and no other nation. The Customer and ASSCCL agree to submit to the exclusive Jurisdiction of the Courts located in Bangalore, India as regards any claims or matters arising under these terms and conditions. ASSCCL accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India. The mere fact that the Spark App Service can be accessed through Internet by a Customer in a country other than India shall not be interpreted to imply that the laws of the said country govern these terms and conditions and/or the operations in the Spark App accounts of the Customer and/or the use of Spark App.


The clause headings in this agreement are only for convenience and do not effect the meaning of the relative clause. I/We shall not assign this agreement to anybody else. ASSCCL may subcontract and employ agents to carry out any of its obligations under this contract.