Memorandum of Understanding

(Between Business Correspondent Agent and Company-CBC)

This MOU is executed on this ______ Day of _________, 201 between Company
named as {Relisec Consultancy Services Pvt. Ltd. having registered office at G-08,
Ansal’s Vikasdeep, Plot No. 18, Laxmi Nagar Dist. Centre Delhi- 110092} (herein
after referred to as Company which expression shall unless repugnant to the context
or meaning thereof shall include its successors and permitted assigns) of one part.

And
Shri / Smt. / Km. __________________________________,
s/o/d/o / w/o _____________________are resident of
_______________________
______________________as the party of the other part herein after referred to as
Business Correspondent Agent (BCA).

Whereas the company has been appointed as Corporate Business Correspondent

(herein after called CBC) of Punjab National Bank/Punjab Gramin Bank/Sarva
Haryana Gramin (here in after referred to as the Bank).

And whereas the said BCA has requested the Company to deploy him / her as a
"Business Correspondent Agent" for ___________________(specify area). The
Company has agreed to deploy him/her as per the Reserve Bank of India/bank
guidelines issued from time to time for the Financial Inclusion by Extension of
Banking Services- Use of Business Correspondent for _________________ (areas).
The BCA shall be assisting the Company in providing financial and banking services
as specified in this MOU.

Now this MOU witnesses as follows:

1. The Service area of the Business Correspondent shall be ___________. Business
Correspondent Agent agrees that the Company has the right to modify/change the
service area from time to time as required by the Bank and intimate the same to
Business Correspondent Agent and accordingly,BCA will work under said area.
2. The deployment of BCA would be for the entire contract period i.e. the period for
which Ms RCSPL shall act as CBC for the Bank from the date of execution of
MOU and subject to satisfactory performance to be reviewed periodically by the
Bank/CBC.

Roles & Responsibilities of Business Correspondent Agent:

1. Shall identify customers for opening all type of deposit accounts, as per Bank
guidelines.
2. Shall market/create awareness about savings and other products and educate
and advise the customers on managing money and debt counseling.
3. Shall take up any other assignment as may be entrusted/ negotiated by the
company/ Bank for the purpose.
4. The BCA shall certify each deposit account with regard to the bonafide of the
customer and authenticity of the particulars furnished by collecting KYC
documents.
5. The BCA shall help the customers in furnishing the information and in such form
as required by the Company/Bank in the format prescribed by the Bank from time
to time.
6. The BCA shall assist the Company/Bank in completing the prescribed set of
documents, duly executed by the customers, in such form, as required by the
Bank for such deposit to be accepted by the Bank guidelines/procedures.
7. The BCA shall treat as confidential all the records, information, data which
comes to their knowledge in the normal course of day to day business, terms and
conditions of the Company/Bank and of this Agreement. BCA shall not disclose,
divulge the same to any third party otherwise than for the specific purpose
authorized by the Company/Bank even after termination of this MOU.
8. BCA shall make small value paymentas decided by the Company/Bank per
customer.
9. BCA shall collect small value deposits uptoRs.25000/- (Rupees twenty five
thousand) or as decided by the Company/ Bank per customer per day.
10. BCA shall sell micro insurance/ mutual fund products/ pension products/ other
third party products or as decided by the Company/Bank.
11. BCA shall receive and deliver small value remittances/other payment instruments
as decided by the Company/Bank per borrower per remittance/instrument.
12. BCA should encompass clients irrespective of class, creed and religion and its
activities should be available to all eligible citizens of India.
13. BCA should have adequate management capability even for enlarged
operations.
14. BCAshall ensure that all the transactions are accounted for and reflected in the
Bank’s books in real time. System generated on-line receipt shall be issued to
the customer invariably for all transactions carried out by him/ her on behalf of
the Bank.
15. BCA shall not work as BCA for other Banks while he is working as BCA for
Punjab National Bank/Punjab Gramin Bank/Sarva Haryana Gramin.

Representation & warranties by Business Correspondent Agents

1) That the BCA is eligible to be engaged as BCA as per the scheme of the Bank.
2) That the BCA is not a defaulter of any Co-operative Credit Society/Bank/any
other financial Institution.
3) That the BCA has knowledge of local area/ people/ socio-economic condition/
language in the areas of operation.
4) That the BCA is not an office bearer of any political/ religious organizations.
5) That there are no any criminal record/adverse reports against BCA.
6) That the BCA is being referred by two persons known to the Company/bank
 having a proven track record.
7) That BCA is not owned or controlled by any director or officer/employee of the
bank or their relatives.
8) That BCA shall be responsible for cash management at his location. Insurance
and other related risks are to be covered by the BCAs. As such the
management of cash shall be responsibility of the BC Agent. The BCA may,
however, apply for an overdraft facility from Banks in his individual capacity on
the usual commercial terms and conditions and the Bank shall have the
discretion to sanction or reject the same.CBC will not involve or guarantee for the
overdraft.
9) BCA shall ensure availability of adequate funds in his settlement account and
also cash in hand to carry out uninterrupted online Banking transactions.
10) The BCA has been clearly informed and he is fully aware of the fact that it is not
the responsibility of the Bank or the CBC to provide or arrange for the funds/
cash for the BCA for carrying out the customer transactions.
11) BCA has been duly informed and has voluntarily agreed that he shall be paid
cash handling charges as per the rate decided by the Bank and after deduction
of the charges of the CBC.
12) BCA has adequate means and capacity to handle the escalated level of activity
and customer transactions from his location. In case BCA is not able to meet out
the requirement of the Bank/customers, the CBC has the unconditional right to
terminate his services by giving him 30 days notice to improve the same. The
decision of the CBC shall be final and binding on the BCA.

On receipt of remuneration from the Bank, CBC agrees to offer the BCA:
The remuneration entitled for the various types of services to be rendered by the
BCAs as per the schedule of charges payable under the scheme. The charges
payable for the service rendered can be revised by the Bank/CBC unilaterally.

General Terms and conditions for BCA

1. Prior approval/consent of the CBC shall be obtained by BCA for the use of
Subcontractors for all or part of the financial or banking services for which the
MOU is entered into. CBC reserves the right to refuse the same without
assigning any reason thereof.
2. The BCA shall arrange for inspection of the customer's area/activity etc, as and
when required by the Bank/CBC officials.
3. BCA shall preserve all documents and data that are left in their hands in
accordance with the requirements of the Bank depending on the legal and
regulatory obligation and also allow free access of the same by the officials of the
Bank, RBI, NABARD or persons authorized by these organization/Bank, etc., for
their verification/audit and other necessary information given to, stored or
processed by the BCA within a reasonable time.
4. BCA shall ensure confidentiality and BCA accepts liability in case of breach of
 security in leakage of confidential customer information.
5. The BCA while dealing with customers, present or prospective shall not resort to
intimidation or harassment of any kind either verbal or physical against any
person, including acts intended to humiliate publicly or intrude the privacy of the
family members, referees, guarantors and friends, making threatening and
anonymous calls or making false or misleading representations. The guidelines
prescribed by the Banking Codes and Standards Board of
India/RBI/NABARD/Government of India from time to time shall be strictly
adhered to.
6. That the BCA shall get issued identity card from theCBC/ bank.
7. Such identity cards will be withdrawn by the CBC/bank as and when the MOU
with the BCA comes to an end and the identity card so issued will be
surrendered to the CBC/ bank.
8. That the BCA shall not have any claim whatsoever against the CBC/bank and
shall not raise any industrial dispute either directly or indirectly, with or against
the CBC/bank, in respect of any of the service conditions or otherwise.
9. That in case of death or bodily injury to the BCA in the course of performance
under this agreement/MOU, the CBC/Bank shall not be liable or bound to pay
any monitory compensation or otherwise be responsible in any manner
whatsoever.
10. That the BCA involved in the activity covered under this agreement/MOU, would
submit an undertaking to the effect as stated above and also an undertaking not
to disclose to any 3rd party any information or knowledge concerning the
business of the bank.
11. BCA shallnot charge any fee to the customers directly for the services rendered
by them on behalf of the Bank. Only charges as prescribed by the Bank and
against proper system generated receipt can be accepted by the BCA.
12. Access to customer information for the BCA shall be on "need to know basis” i.e.
limited to those areas where the information is required in order to perform the
relevant function.
13. The BCA shall not set up defense or claim in any plaint, petition, complaint,
written statement, application to the effect that he / she is the employees of
CBC/Bank.
14. The BCA undertakes to indemnify the CBC and keep CBC/Bank and its
officers/employees fully indemnified and harmless from and against all the
consequences of any action leading to breach of any of the terms and conditions
of this agreement as also of any of it representations or warranties not being
found to be true at any point of time including any actions, suits, claims
proceedings, damages, liabilities, losses, expenses or costs (herein after referred
to as "claims") faced, suffered or incurred by the Bank/CBC. The BCA hereby
accepts and acknowledges have clearly agreeing and understanding that this
indemnity would cover all the acts and omissions on the part of the BCA and/or
false representations and warranties by the BCA.
15. Similarly, in the event of any claims being made on Bank/CBC, on account of any
breach of warranty, representations, non-compliance of any applicable law,
unauthorized act, fraud, deed or thing done or omitted to be done or undertaking
made or deficiency in service by the BCA, the BCA undertakes to pay on first
 demand made by Bank any amount on this account without any demur, contest,
protest whatsoever within 7 working days of the demand being made. Bank/CBC
may at its discretion settle any or all claims made on it and recover the amount
so paid from the BCA and /or make deductions from the amount payable by
Bank/CBC to BCA.
16. Notwithstanding anything contained in this MOU, nothing shall restrict the right of
the Bank/CBC to do the same activities on its own or to appoint any other BCA in
relation to such activity of the bank and to carry on such similar activities on
similar or any other terms and conditions as bank/CBC may deem fit and proper,
which may be at variance with the terms and conditions contained herein the
specified service area/areas of BCA already undertaking the assignment.
17. In the event of non-satisfactory performance of the arrangement and if the
activities of BCA are found prejudicial to the interests of the Bank/CBC or its
customers,or if the BCA commits fraud, resort to unfair/malpractice/undertakes
non-genuine transactions like round tripping, artificially inflates transactions with
the intention toincrease his commission or otherwise, etc., this MOU can be
terminated even before the expiry of period of this MOU, by giving 30 days
written notice to other party without assigning any reason. In case of fraud
committed by BCA, services will be terminated without any notice.Security
Deposit of BCA may be forfeited even for any default committed by BCA. The
BCA will not be discharged from the MOU, unless all the records maintained by
the BCA are handed over to theCBC/Bank.
18. That the BCA shall not use the logo, trademark, trade name, copyrights, etc.,
(Proprietary rights) of the Bank/CBC in any way without the written consent of the
respective party.
19. Other Banking services except as assigned to BCA shall not be done/rendered
by BCA.
20. The activities to be undertaken by the BCA would be within the normal course of
the bank's banking business, but conducted through the entities indicated above
at places other than the bank premises.
21. BCA will receive and/ or pay cash against system generated receipts only. Two
receipts will be printed out of which one shall be got signed by the customer and
retained by the BCA while the other print out shall be given to the customer.
22. The BCAs should maintain the records/registers such as Cash Payment/Cash
Receipt register; account-wise Receipts/Payments Registers etc. The BCA will
also use the stationary such as Receipt/Payment/Reimbursement vouchers.
23. BCA will provide the bank/ CBC with the right to conduct audits on BCA whether
by its internal or external auditors or by agents appointed to act on his behalf and
to obtain copies of same audit or review reports and findings made on the BCA in
conjunction with the services performed for the bank.
24. BCA will allow the Reserve Bank of India or person authorized by it to access the
bank’s documents, records of transactions and other necessary information
given to, stored or processed by the BCA within a reasonable time.
25. BCA will recognize the right of Reserve Bank of India to cause an inspection to
be made of a BCA and its books and account by one or more of its officers or
employees or other persons.
26. BCA will maintain the confidentiality of customers’ information even after the
 MOU expires or gets terminated.
27. BCA will provide for preservation of documents and data in accordance with the
legal/regulatory obligation of the bank in this regard.
28. In establishing a viable contingency plan, CBC may consider deploying an
alternative BCA or of bringing the assigned activities back in-house in an
emergency.
29. In adverse conditions, all documents, records of transactions and information
given to BCA, and assets of the Bank/CBC, can be removed from the possession
of the BCA in order to continue its business operations, or deleted, destroyed or
rendered unusable.
30. BCA will in no way impede or interfere with the ability of the bank/CBC to
effectively oversee and manage its activities nor will it impede the Reserve Bank
of India in carrying out its supervisory functions and objectives.
31. BCA should adhere to the extant instructions on Fair Practices Code and also
their own code. BCA should deliver high level of customer service.
32. In case of discontinuation of the Agency arrangement on account of my
resignation or on account of termination of my services by the company due to
my non- Performance ( Inability to achieve the set target from time to time), non
adherence to prescribed systems and procedures/committing fraud, resorting to
unfair/malpractice/undertaking non-genuine transactions like round tripping,
artificially inflating transactions with the intention to increase his commission or
otherwise, etc or due to any other reasons beyond the control of the company
before / on expiry of contract period, one third of my refundable security deposit
shall be adjusted towards expenses incurred.

Dispute Resolution: All disputes between the parties arising out of this MOU
shall be settled by the parties in accordance with the Arbitration and Conciliation
Act 1996 as amended from time to time and shall be subjected to exclusive
jurisdiction of courts at New Delhi.

Effect of Termination of this MOU: That termination of this MOU will not in any
event release /absolve the BCA from the obligation arising out of the functions
performed by him during the course of his agency to act on behalf of theBank
towards the customers under this arrangement in the selected area.

In witness whereof the Parties hereto have executed these on the day, month
and year first herein above written and the parties have caused the same and the
said duplicate to be executed by the hands of
Shri______________________(Name of FS Or CCO Or VP) of the CBC as
hereinafter appearing.

Signed and delivered by the within name - BCA

Mr./Ms./________________________ in the presence of following witnesses.

Signed and delivered by the Corporate Business Correspondent, by the hand of

 SHRI ________________________their Authorized official.

(For BCA) For Relisec Consultancy Services Pvt. Ltd. (CBC)

Name & Signature Name, Designation & Signature

WITNESSES:

1. Name__________
Father’s Name ________________
Address : _____________________________________________
_______________________________________________________
Mobile Number ____________________
Adhaar Number ____________________

2. Name__________
Father’s Name ______________________
Address : __________________________________________
_______________________________________________________
Mobile Number _______________________
AdhaarNumber _______________________