Terms and Conditions of PIN:
The Terms and Conditions set out this Agreement are a binding contract between the
Unitholder/s and UTI AMC for use of Personal Identification Number (PIN) for Transacting
On-line through Internet on UTI Mutual Fund’s website www.utimf.com using the PIN
Facility offered by UTI Mutual Fund through its Investment Manager, UTIAMC and Registrar,
Karvy Computershare Pvt. Ltd. (hereinafter referred to as 'Registrars').
Unitholder/s hereby confirm/s that he/ she/they has/have read this Agreement carefully
and by signing this agreement the Unitholder/s acknowledge/s that unitholder/s has/
have read, understood and agree to be legally bound by the terms and conditions
of this Agreement.
The UTIAMC is registered with Securities and Exchange Board of India (SEBI) to act
as the Investment Manager for the Schemes of UTI Mutual Fund represented through
UTI Trustee Company Pvt. Ltd. (hereinafter referred to as UTIMF ).
UTIMF has a dedicated website in the name and style of www.utimf.com (hereinafter
referred to as the "website"), which provides information and downloads relating
to UTIMF including the facility of Online subscription/ redemptions of units and
such other services/ facilities as detailed in this agreement or as may be notified
by UTIAMC from time to time.
UTIMF through its service provider(s) (hereinafter referred to as "Service Providers")
offers the facility of transacting on-line through Internet for the convenience
of its Unitholders and to help the unitholders to gain access to their portfolio
of investments in UTIMF, for administering and managing the same effectively and
efficiently using a Personal Identification Number (hereinafter referred to as "PIN");
The The Unitholder/s is / are desirous of availing the services/facilities available
through the Website and UTIAMC is willing to provide such services/ facilities to
the Unitholder/s subject to the following the terms and conditions :
TERMS OF SERVICES Unitholder’s Consent Authorisation for the Online Transactions:
The Unitholder hereby consents and authorises UTIAMC, who may authorise any of its
service providers, to extend the PIN Facility for the Designated Account(s) of the
Unitholder/s, including an irrevocable authorisation to UTIAMC to act upon any electronic
or telephonic instructions given to UTIAMC by the Unitholder through use of the
PIN Facility and through the PIN, user name, password in connection with the Online
Transactions (hereinafter referred to as the "Instructions"), including viewing
of Designated Accounts and performing the Online Transactions under the accounts
through the website and as may be permitted by UTIAMC under the PIN Facility from
time to time.
For the purposes of this Agreement:
"Website" shall mean the website of UTIMF www.utimf.com or any other website which
UTIAMC may announce from time to time.
UTIAMC reserves the right to change, amend or modify the website and/or telephone
number as may be intimated from time to time.
"Master Account" shall mean the Folio Number allotted to the unitholder/s and hereinafter
referred to as "Folio Number". Usage of, or subscription to, the said PIN Facility
shall be in addition to, and not in substitution of, the existing procedure for
carrying out the transactions, the services of which are available through the Online
Transactions as well.
UTIMF / UTI Trustee Company Pvt. Ltd. / UTIAMC shall not be responsible for any
errors that may be committed by the Unitholder/s in the process of conducting any
Online Transaction or for error or failure of the transaction over internet due
to any network problems. The Unitholder/s shall make only one application for each
transaction, either in physical or electronic form. s
PROCEDURE Issuance of PIN, Security & confidentiality of the information:
New investors under Single and Anyone or Survivor holdings can generate their
own PIN once the documents including the duly signed application form, PAN card
copy, KYC ack. Etc. reaches UTI AMC/its service provider’s office and the same are
in order. The PINs so generated will be communicated to the first holder at his
registered e-mail ID through a password protected file. The PIN needs to be changed
at first log-in.
Existing unitholders of UTI MF under Single and Anyone or Survivor holding,
a) having PIN can continue to transact using the same PIN/PINs b) not having PIN
can generate their own PIN online after creating user ID.
Unitholders under Joint holding, registering for this facility are required
to execute a PIN agreement duly signed by all the holders. The PINs shall be issued
by the service provider against each Folio Number, after UTIAMC / its service provider
satisfies itself that the signature on the PIN Agreement matches with the signature
of the Unitholder/s in the record of UTIAMC. A Unitholder having multiple Folios
with UTIAMC shall be issued a separate / specific PIN for each Folio.
Separate PINs shall be issued to the each joint holder under the Folio. Further,
PIN of each unitholder will be required to be entered for any transaction. If the
holding basis of the Folio is "Anyone or Survivor", PIN of any one unitholder will
be sufficient for conducting any transaction.
The Unitholder agrees that pursuant to this Agreement, the UTIAMC/its service provider
will dispatch the PIN allotted to the Unitholder/s, by courier or post, entirely
at the risk of the Unitholder/s. The PIN will be dispatched to the Unitholder’s
address as recorded with UTIAMC/ its service provider.
The Unitholder shall be responsible to confirm receipt of the PIN to UTIAMC/ its
service provider and notify forthwith, in the event of evidence of tampering with
the PIN in the course of post, or non-receipt of the PIN, as the case may be. In
such an event or in the event of loss of PIN by the unitholder or due to unitholder
having forgotten / misplaced the PIN, a request for issue of a duplicate PIN shall
be considered only on receipt of a written request from the Unitholder subject to
signature verification /validation and compliances of all procedures as may be required
by UTIAMC for such purpose.
The Unitholder shall use the PIN to generate a user-name and password to carry out
transactions through the website and shall keep the same confidential at all times.
The Unitholder may use the same PIN to access various services provided by UTIAMC
over the Internet in respect of his folios.
The unitholder/s shall have a facility/option to change the PIN allotted by the
service provider to a PIN of his choice and to make the PINs uniform, in the event
of having multiple PINs if the mode of holding is same across all the folio numbers.
It shall be the sole responsibility of the unitholder/s to ensure adequate protection,
confidentiality and secrecy of the user name and password as well as the PIN and
any disclosure thereof to any other person shall be entirely at the unitholder’s
risk. UTIAMC in such cases will not accept any kind of responsibility or liability
for any loss, damage or harm.
UTIAMC will record a change in the Unitholder’s address only on the basis of written
instructions from the Unitholder, subject to signature verification / validation
as per normal procedure.
Access to the Facility:
In order to access the Facility for the first time through the website, the Unitholder/s
needs to invest in any of the UTI MF scheme online. The User ID will be the mail
ID registered in the Folio/furnished by the investor at the time of new investment.
Password will be communicated once the transaction is successful.
The Unitholder may access the following services using PIN, the user-name and password
facility (hereinafter referred to as the "Facility"),
(A) Through Internet:
• Subscription and Additional Subscription to various schemes of UTIMF, including
any new Schemes of UTIMF launched by UTIAMC from time to time and which are made
available by UTIAMC for the purpose of conducting such Online transactions. • Switching
units from one scheme / plan / option to another.
• Redemption of units.
• Switching units from one scheme / plan / option to another.
• Change of PIN and Password
• Viewing Portfolio and Transaction history
• Printing of Account Statements, including facility to request for email / Fax
• Asset classwise summary
The Unitholder/s hereby agrees and confirms that the services mentioned hereinabove
are only an inclusive list, and UTIAMC may add or remove any services it may in
its absolute discretion decide. In addition to the information and services mentioned
above, the Unitholder/s may also, as and when the facility is extended to other
services which may be provided by UTIAMC, use such Facility to access and utilise
any such services provided by the Website or through telephone.
UTIAMC will take best efforts to keep the Website updated on a daily basis, so as
to provide current information to Unitholder/s. The Unitholder/s also agrees that
the look and feel of the web screen and outputs therefrom may differ based on the
nature of the software used by the Unitholder to browse the Website.
UTIAMC agrees to take best efforts to protect security of the data placed on the
Internet and has for this purpose, required the service provider to sign a confidentiality
agreement specifying confidentiality of the data and to restrict external access
to the database on the Internet.
The service provider shall ask the Unitholder/s to enter his/her/its user name and
password and PIN or any other transaction specific details before accepting instructions
on behalf of UTIAMC.
UTIAMC / its service provider may, in the interest of the Unitholder/s, request
a fax confirmation of the instructions and any additional information UTIAMC may
require. In such an event, UTIMF/UTIAMC shall not be bound to act on electronic
instructions received, until the said fax confirmation and additional information
is received from the Unitholder/s, in a form and manner acceptable to UTIAMC.
The Unitholder confirms and agrees that he/she /they shall at all times be bound
by any modification and/or variations made to the Terms and Conditions hereof and
as notified on the Website.
UTIMF/UTIAMC shall not be required to give the Unitholder individually any separate
notice of any of the modification and/or variations that havebeen notified on the
UTIAMC or the service provider shall have the absolute discretion to amend or supplement
any of the terms at any time and will endeavor to give prior notice on the website
/ through email for such changes wherever feasible.
UTIAMC / its service provider may, in its absolute discretion, decide not to carry
out any such transaction where the service provider or UTIAMC has reason to believe
that the instructions are not genuine, are unclear, are such as to raise a doubt,
are otherwise improper or there is ground to believe that the same is in contravention
of any statute/laws in India and cannot be put into effect.
UTIMF, UTI Trustee Company Pvt. Ltd., UTIAMC and / or the service provider shall
not be liable for any unauthorized usage of the PIN the Unit holder/s fully indemnifies
and holds UTIMF, UTI Trustee Company Pvt. Ltd., UTIAMC and the service provider
harmless against any action, suit, proceedings initiated against them or any loss,
cost or damage incurred by them as a result thereof. Further, UTIMF,UTI Trustee
Company Pvt. Ltd., UTIAMC and / or the service provider shall not be liable in any
manner for any misuse, if any, of any data accessed through the CallCenter by third
Without prejudice to any other provisions of this Agreement, UTIMF, UTI Trustee
Company Pvt. Ltd., UTIAMC and / or its service provider shall not be liable for
any loss or damage whatsoever caused arising directly or indirectly in connection
with the services and/or this Agreement, including without limitation any:
1 Loss of data;
2 Interruption or stoppage to the unitholder’s access to and/or use of the Call
Center / website UTIMF UTI Trustee Company Pvt. Ltd., UTIAMC and / or its service
provider shall also not be responsible for any failure on part of the unit holder
to utilize the facility due to the Unit Holder not being within the geographical
range within which the Facility is offered.
UTIAMC or the Registrars, the service provider have the absolute discretion to withdraw/amend
the services provided, or amend or supplement any of the above terms and conditions
at any time without prior notice to the Unit holder.
The Unitholder/s hereby agrees covenants and undertakes that:
the facilities being provided herein are additional facilities being provided by
UTIMF / UTIAMC and the Unitholder/s shall not demand such facilities as a matter
of right and the Unitholder/s may utilize the facilities at his / her sole risks,
costs and consequences, UTIMF / UTIAMC may, at its sole discretion, add, modify,
withdraw any facilities being provided herein, access of any facility by the use
of the user name, password or the PIN, as the case may be, shall be deemed acceptance
of the other terms and conditions of the offer documents of the respective scheme
of UTIMF and all other terms and conditions as posted on the Website and the Unitholder/s
will unequivocally be bound by such terms and conditions.
The Unitholder/s shall at all times be bound by any modification and/or variations
made to the other Terms and Conditions and as notified on the Website. UTIMF / UTIAMC
or the service provider shall not be required to give the Unitholder/s individually
any separate notice of any of the modification and/or variations that have been
notified on the Website.
The Unitholder/s authorises UTIAMC /Registrar and its service provider to execute,
comply with all or any instruction(s) given to UTIAMC through use of the facilities
available on the website.
Any instruction given to UTIAMC / Registrar through use of the internet facility
and through the PIN, User name, Password (herein referred to as the "Instructions")
shall be deemed to have been given by the Unitholder/s to UTIAMC/Registrar/service
provider and UTIAMC/Registrar / service provider shall be entitled to assume that
the said instructions are given by the Unitholder/s and UTIAMC/Registrar shall be
protected/service provider for acting thereon.
It shall be the sole responsibility of the Unitholder/s to ensure adequate protection,
confidentiality and secrecy of the user name and password and the PIN and any disclosure
thereof to any other person or the usage after any such disclosure shall be entirely
at the unitholders risk.
To notify immediately UTIAMC or the service provider if a record of the PIN or password,
is lost or stolen or if the Unitholder/s is aware or suspects that another unauthorized
person has come to know of or has used his/her PIN or password without authority.
Upon receiving a written request from the Unitholder/s in such an event, UTIAMC/
its service provider will cancel the PIN or password and arrange to generate and
issue a new PIN / Password in the interest of the unitholder.
The Unitholder/s shall be responsible for all the transactions conducted by using
the Facility and will abide by the record of the transactions generated by UTIAMC
/ Registrar / Service Provider.
Further such records generated by shall be conclusive proof and binding for all
purposes and may be used as conclusive evidence in any proceedings.The Unitholder/s
shall be solely responsible for ensuring adequate security measures to help prevent
unauthorized access or use of the Facility to his/ her/their transactions, PIN,
Password and bank accounts, and UTIMF / UTI Trustee Company Pvt. Ltd., UTIAMC, Service
Provider , its Registrar shall not be liable of any such unauthorized access to
comply with all applicable laws and statutory requirements and to be bound by and
to diligently follow and ensure compliance with the applicable rules, regulations
etc. including SEBI Regulations.
UTIMF / UTI Trustee Company Pvt. Ltd., UTIAMC, its Registrar / service provider
shall not be required to acknowledge receipt of any instructions nor shall be responsible
to verify any instructions. UTIAMC, its Registrar / service provider shall endeavor
to give effect to instructions on a best effort basis and as soon as practically
possible, as permitted by the regulations from time to time. In the event of any
instructions being capable of execution in two or more ways, UTIAMC, its Registrar
/ service provider may execute the instructions in any way as it may, in its sole
The Unitholder/s agrees that the use of the facilities is prone to risk of any loss
of or interception of information over internet, notwithstanding the secure method
of transmitting information adopted by UTIAMC, its Registrar / its service providers,
and that such a risk will be borne by the Unitholder and that UTIMF / UTI Trustee
Company Pvt. Ltd., UTIAMC, its Registrar / service provider shall not be liable
for the same.
All records of UTIAMC/ Registrar/service provider, whether in electronic form, magnetic
medium, documents or any other form with respect to instructions received for use
of the Facilities or Instructions received through use of the Facility shall be
conclusive evidence of such instructions and shall be binding on the Unitholder/s.
In case of any discrepancy in the details of any transaction carried out in respect
of the Unitholders’ account, the Unitholder shall intimate UTIAMC / Registrar and
the service provider within ten days of receipt of the statement of account or information
thereof, failing which the transaction will be deemed to be correct and accepted
by the Unitholder.
The Unitholder/s shall be fully liable to UTIMF/UTIAMC/its service provider for
every transaction entered into using the Facility, whether with or without the knowledge
of the Unitholder/s. In no event will the Fund or its service provider be liable
to the Unitholder for any special direct, indirect, consequential or incidental
loss or damages even if the Unitholder has advised the Fund or its service provider
of such possibility,
The Unitholder/s agrees that if any unauthorized person gains access to the Facility
by using the Unitholder’s PIN /Username and password, the Unitholder/s, agrees to
at all times to indemnify UTIMF / UTIAMC, and its service providers and their officers,
employees, and the successors and assigns from and against all actions, proceedings,
claims and demands whatsoever for or on account of or in relation to any unauthorized
use of the PIN, username and password facility and from and against all damages,
costs, charges and expenses in respect thereof, unless the same is caused by gross
negligence, bad faith or willful default on the part of UTIMC.
UTIMF / UTIAMC / the Service Providers / the Registrars or their directors, employees,
agents, executors, successors or assigns shall not be liable for claims, damages,
losses, expenses, whether direct, indirect, consequential or incidental, whatsoever,
• Non-availability or malfunctioning or interruption, defect, of the facilities
mentioned herein, communication failure or for any failure to act upon Electronic
Instructions or to provide any facility, • Misuse of the PIN, user name and password,
• Any misuse of any data placed on the Internet, any loss or corruption of data
by third parties, "hacking" or unauthorized access of the server, or
• Any failure to act upon instructions or to provide any facility for any cause
that is beyond UTIMF/UTIAMC /Service Providers / Registrars’ control.
No forbearance, delay or failure on part of UTIMF / UTIAMC / the Registrars / service
provider to exercise any power, authority or right under these terms and conditions
shall operate as a waiver of such power, authority or right, nor shall any single
or partial exercise of such power, authority or right preclude any further exercise
of that or any other power, authority or right.
The Offer Documents of the Schemes of UTIMF provided on the website set forth concisely,
the information about the Schemes that an investor should read and understand prior
to investing. The Schemes have been prepared in accordance with the Securities and
Exchange Board of India (Mutual Funds) Regulations, 1996, as amended, and filed
with SEBI. However, the Units being offered for public subscription have not been
approved or disapproved by SEBI nor has SEBI certified the accuracy or adequacy
of the Offer Documents. All Users of the website are notified that any information
thereon should be used in conjunction with traditional investment techniques, which
may include obtaining by the unitholder applicable legal, accounting, tax or other
professional advice or services at their own costs and responsibility.
UTIAMC / its service provider / Registrar shall keep the information relating to
the transactions of the Unitholder using the Facility, confidential. Provided however
that UTIAMC / Registrar / service provider shall be entitled to disclose any information
or particulars pertaining to the Unitholder to any authority, statutory or otherwise
as may be required by law or information which is already in public domain.
UTIAMC shall not sell or market any personal information or personalized data of
its unitholders to unaffiliated organizations. UTIAMC shall maintain the unitholders
personal information and data according to reasonable standards of security and
If the Unitholder/s wishes to terminate this Agreement and disable the PIN, The
Unitholder/s may terminate the PIN Facility by making an application (hereinafter
referred to as "the said Application") to UTIAMC / Registrar in writing and signed
by her/him along with all the Joint Holders, if any.UTIAMC / Registrar shall disable
the User ID and the PIN granted to such Joint Unitholders, if any, at any time within
a period of 10 business days from the date of receipt of the said Application.
UTIAMC is also authorised to terminate the PIN Facility without prior notice on
the occurrence of any event, which in the sole opinion of UTIAMC, may have a material
or adverse impact on the Designated Account, or on the operations of the Schemes
of UTIMF / UTIAMC / Registrar / Service Provider, including but not limited to:
1. Non-compliance of the Terms and Conditions set out herein.
2. Death, insolvency, bankruptcy or liquidation of the Unitholder.
3. Any other cause arising out of operation of law.
4. Closing of Unitholder’s account.
5. Such other reason(s) as UTIAMC may, in its sole and absolute discretion deem
For the purpose of interpretation, an event having a material or adverse impact
shall include any event, which in the opinion of UTIAMC, shall impact the reputation
of UTIMF / UTI Trustee Company Pvt. Ltd. / UTIAMC, its functioning, any potential
losses to any of them, any event which in the opinion of UTIAMC would amount to
a fraud on the Designated Account, or any other event which UTIAMC may, in its absolute
discretion, decide would have a adverse impact on its operations. Provided, however,
that any Electronic Instructions received by UTIAMC / Registrar / Service Provider
,through the PIN Facility or any Online Transaction executed by the Unitholder,
before the termination of this Agreement and disabling of the PIN Facility shall
be considered to be a valid instruction to UTIAMC / Registrar / Service Provider
to execute such Online Transaction.
GOVERNING LAW & JURISDICTION
This Agreement shall be governed by and construed in accordance with the laws of
India. The Courts of Mumbai shall have exclusive jurisdiction over any disputes
arising out of or in connection with any dispute.
The PIN and all the transactions carried out through the PIN are subject to the
terms and conditions of the Offer Documents of the schemes of UTIMF, read with the
addendums issued from time to time.
Any dispute arising out of or in connection with these Terms and Conditions will
be referred to the arbitration of a sole arbitrator to be appointed
Theterms and conditions of this Agreement may be modified by UTIAMC from time to
time for the purpose of ensuring compliance with the Securities and Exchange Board
of India (Mutual Funds) Regulations, 1996, guidelines issued thereunder, as amended,
from time to time and All the applicable laws, rules and regulations relating to
mutual funds and pertaining to the PIN facility.
Any notice, communication or documents required to be given by either Party to the
other under the terms of this Agreement, may be given by personal delivery, registered
post, speed post, by fax, or by other electronic medium as agreed by both parties
from time to time, at the following addresses:
a) If to UTIAMC:
Karvy Computershare Pvt Ltd
Unit :UTI MUTUAL FUND
Karvy Selenium Tower B, Plot No 31 & 32, 7th Floor,
Gachibowli, Financial District,
Hyderabad - 500 032
Phone Number 040 - 67161823.
b) If to the Unitholder: At the address of the Unitholder as recorded with UTIAMC
/ Registrars. The notice, communication or document shall be deemed to be effective
if given by personal delivery when so delivered, if given by post on expiration
of seven days after the notice, communication or document is delivered to the post
office for onward dispatch, if given by fax or telex upon transmission thereof.
Provided that any notice, communication or document given by fax, shall be followed
by a confirmation in writing.
I/we confirm and declare that I/we have read and understood the "Terms & Conditions
of Personal Identification (PIN) usage and Online transactions" and also the "Disclaimer
& Terms and Conditions" as posted on UTIMF Mutual Fund’s website www.utimf.com
I/ we agree to abide by the norms, Terms & Conditions of PIN usage and online transactions,
and agree not to hold UTIMF/UTIAMC responsible for my/our actions relating to the
use of the PIN Facilities.