National Payments Corp of India (NPCI), which is set up as a Section 25 company under the Companies Act 1956 (now Section 8 of Companies Act 2013), and is seen promoting its Unified Payments Interface (UPI)- based Bharat Interface for Money application (BHIM) app, says it should not held responsible for any loss, claim or damage suffered by the user. What is more shocking are the terms and conditions (T&C) for the UPI BHIM app from NPCI, which are one sided and affords no protection whatsoever to the end user or consumer.
In its terms and conditions for use of the BHIM UPI app, the company, promoted by 10 banks, says, "NPCI does not hold out any warranty and makes no representation about the quality of the UPI services or BHIM application. The user agrees and acknowledges that NPCI shall not be liable and shall in no way be held responsible for any damages whatsoever whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business, transaction carried out by the user, information provided or disclosed by issuer bank regarding user’s account(s) or any loss of any character or nature whatsoever and whether sustained by the User or by any other person. While NPCI shall endeavour to promptly execute and process the transactions as instructed to be made by the user, NPCI shall not be responsible for any interruptions, non-response or delay in responding due to any reason whatsoever, including due to failure of operational systems or any requirement of law."
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