Privacy Policy

State Bank of India ("We") is committed to ensuring that Your Information is used
properly and is kept securely.

This Privacy Policy (together with the terms and conditions set out in the [Terms of
Use] section of our website and any other documents referred to in it) sets out the
basis on which any information we collect from you, or that you provide to us, will be
processed by us. Please read the following carefully to understand our views and
practices regarding Your Information and how we will treat it.

By submitting Your Information to the State Bank of India Site ("the Site)
(whether during the registration process or when posting your own content or
otherwise using our on-line services), you are consenting to the processing of
Your Information by us and our agents in accordance with this Privacy Policy.

DATA CONTROLLER
Any information you provide on our Site is controlled by State Bank of India, which is
registered as a data controller with the Information Commissioner under reference:
Z552946X. For more information about State Bank of India please refer to the
[Terms of Use] section of our Site.
INFORMATION WE MAY COLLECT FROM YOU
We may collect and process the following information about you ("Your Information"):

• Information that you provide by filling in forms on our Site. This includes
information you provide when you apply for an account with us or for any of
our other products and services and when you register for and use our online
services. We may also ask you for information if you report a problem with our
Site or if you contact us and request assistance when using our Site.

• The contents of any correspondence you send us.

• Details of transfers to and from your accounts.

• Details of your visits to our Site including, but not limited to, traffic data,
location data, web logs and other communication data, whether this is
required for our own purposes or otherwise and the resources that you
access.

• Information obtained from you or third parties such as employers, joint

account holders, credit reference agencies, fraud prevention agencies or
other organisations when you apply for an account with us or for any of our
other products or services or which you or they give to us at any time.

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IP ADDRESSES AND COOKIES
We may collect information about your computer, including where available your IP
address, operating system and browser type, for system administration and to report
aggregate information to our advertisers. This is statistical data about our users'
browsing actions and patterns, and does not identify any individual.

For the same reason, we may obtain information about your general internet usage
by using a cookie file which is stored on the hard drive of your computer. Cookies
contain information that is transferred to your computer's hard drive. They help us to
improve our Site and to deliver a better and more personalised service. They enable
us:

• To store information about your preferences, and so allow us to customise

our Site according to your individual interests.

• To make it easier for you to log on and use the Site during future visits.

You may refuse to accept cookies by activating the setting on your internet browser
which allows you to refuse the setting of cookies. Please refer to your internet
browser's help section for specific instructions. However, if you select this setting
you may be unable to access certain parts of our Site. Unless you have adjusted
your browser setting so that it will refuse cookies, our system will issue cookies when
you log on to our Site.

Please note that our advertisers may also use cookies, over which we have no
control.

For more information about cookies (including how to set your browser to reject
cookies) please visit the website set up by the Interactive Advertising Bureau
(Europe) at www.allaboutcookies.org

WHERE WE STORE YOUR INFORMATION

The information that we collect from you may be transferred to, stored and processed
by another company in the State Bank of India group of companies or a service
provider or agent in another country including countries outside the European
Economic Area ("EEA"). We will make sure that the group company, service
provider or agent agrees to apply the same levels of protection as we are required to
apply to Your Information and to use Your Information in accordance with our
instructions.

All information you provide to us is stored on our secure servers. Any payment
transactions will be similarly secure. Where we have given you (or where you have
chosen) a user name, passcode and memorable word which enables you to access
certain parts of our Site, you are responsible for keeping this user name, passcode
and memorable word confidential. You must not to share these with any one.

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Unfortunately, the transmission of information via the internet is not completely
secure. Although we will do our best to protect Your Information, we cannot
guarantee the security of Your Information transmitted to our Site; any transmission
is at your own risk. Once we have received Your Information, we will use strict
procedures and security features to try to prevent unauthorised access.

HOW WE USE YOUR INFORMATION

We use Your Information in the following ways:

• To ensure that content from our Site is presented in the most effective
manner for you and for your computer.

• To process your application for and set up your accounts and to process your
application to use our on-line services.

• To manage your accounts.

• To give you statements and to provide you with services available through our
Site including the service which enables you to manage your accounts on-
line.

• To verify your identity and make financial risk assessments including anti
money laundering checks and for crime and fraud prevention purposes.

• To meet our regulatory compliance and reporting obligations.

• To provide you or permit selected third parties to provide you with information,
products or services that you request from us or which we or they consider
may be of interest to you, where you have consented to be contacted for such
purposes.

• To carry out our obligations in respect of the provision of your accounts and
the provision of our on-line services.

• To enforce any of our rights against you.

• To enable us to carry out assessment and analysis (including credit and/or

behaviour scoring, market and product analysis).

• To develop and improve our services to you and notify you about changes to
our services.

We do not disclose information about identifiable individuals to our advertisers, but

we may provide them with aggregate information about our users. We may also use
such aggregate information to help advertisers reach the kind of audience they want
to target. We may make use of Your Information to enable us to comply with our
advertisers' wishes by displaying their advertisement to that target audience.

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If you contact us on 0207 600 6444 when using any of our services, we will verify
your identity by asking you a number of questions based on information known to us
about you. We will let you know if we record your telephone conversation with us.
DISCLOSURE OF YOUR INFORMATION
We may disclose Your Information to any member of our group, which means our
subsidiaries, our ultimate holding company and its subsidiaries.

We may disclose Your Information to third parties:

• In the event that we sell or buy any business or assets, in which case we may
disclose Your Information to the prospective seller or buyer of such business
or assets and we will ensure that the prospective seller or buyer treats Your
Information as confidential.

• If a third party acquires State Bank of India or substantially all of its assets, in
which case information held by State Bank of India about its customers will be
one of the transferred assets. We will ensure that the third party treats Your
Information as confidential.

• If we are under a duty to disclose or share Your Information in order to

comply with any legal or regulatory obligation, or as part of legal proceedings,
or in order to enforce or apply our Terms and Conditions which apply to your
accounts or to protect the rights, property, or safety of State Bank of India, our
customers, or others. This includes exchanging information with other
companies and organisations for the purposes of fraud protection and credit
risk reduction.

• If we use third parties to process Your Information on our behalf, for example,
we use third parties to host the Site and to maintain our IT systems. Where
we use third parties to process Your Information on our behalf we will ensure
that they have adequate security measures in place to safeguard Your
Information.

• When you have consented to be contacted for such purposes, we will

disclose Your Information to carefully selected third parties for marketing
purposes so that they can contact you about products or services that they
think may be of interest to you.

• The third parties may include credit reference and fraud prevention and law
enforcement agencies and identity and address verification agencies who
may record and use Your Information and disclose it to other organisations for
debt tracing, fraud and money laundering prevention purposes.

YOUR RIGHTS
You have the right to ask us not to process Your Information for marketing purposes.
We will only use Your Information for such purposes where you have consented to

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this. If you do not want to receive any marketing information from us and you wish us
to stop using Your Information for marketing purposes, please contact us at
customerservices@sbilondon.com.

If you would like to update or amend Your Information, please contact us at

customerservices@sbilondon.com.

Our Site may, from time to time, contain links to and from the websites of our partner
networks, advertisers and affiliates. If you follow a link to any of these websites,
please note that these websites have their own privacy policies and that we do not
accept any responsibility or liability for these policies. Please check these policies
before you submit any personal information to these websites.

ACCESS TO INFORMATION
You have the right to request a copy of Your Information and to have any
inaccuracies corrected. We will ask for confirmation of identity before we disclose
any of Your Information and may charge an administration fee to meet our costs in
providing you with details of the information we hold about you. Please address
requests to: customerservices@sbilondon.com.

CHANGES TO OUR PRIVACY POLICY

Any changes we may make to our Privacy Policy in the future will be posted on this
page. It is important that you review this Privacy Policy regularly to ensure that you
are aware of any updates.

CONTACTING US
Questions, comments and requests regarding this privacy policy are welcomed and
should be addressed to chief.acct@sbilondon.com

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 STATE BANK OF INDIA

Terms and Conditions

Effective from 1 November 2009

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 Terms and Conditions for your Account

1. Introduction

These Terms and Conditions contain important information which you should read
carefully as they explain our obligations to you and your obligations to us.

You should also check our Website for product specific terms and conditions and for
our Tariff of Charges, which apply to your dealings with us, as these also form part of
our contract with you.

You should read all these Terms and Conditions carefully and keep them in a safe place
for future reference, as they form a legal contract between you and us.

We can provide you with additional or up to date copies of these Terms and Conditions
(and any other documents which form part of the contract between you and us) upon
request. These Terms and Conditions are also available on our Website.

General Terms and Conditions

Meaning of Words

In these Terms and Conditions, a number of words and phrases are printed in bold
type because they have a special meaning, which is explained here:

• Account means your State Bank of India account(s) and services taken with
us from time to time;

• Authorised Signatory means the Account holder(s) in case of an individual

Account and a designated person or persons who are allowed to operate the
Accounts on behalf of a firm or organisation;

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• Banking Hours means the hours your branch is open for business;

• Base Rate means the base rate set by the Bank of England or any successor
authority that takes over responsibility for setting such a rate;

• BIC or Swift code is an alphanumeric code of 8 or 11 characters used for

making international payments through the swift system;

• Cut-off Time means the UK time within which a transaction or a request

should be made by you in order to be processed on the same Business Day.
Cut-off Time depends on the cut-off time for the particular method of making
or receiving payments. Cut-off time also depends on the currency in which the
payment is to be made or received for example “cut-off” time for making a
Sterling payment is 1.00pm, for making a cash payment is 4pm, and for Euro
it is 12.00 pm. Instructions for payment in US Dollar can be given up to 2.00
pm. Also “cut off” time is different for each of our branches. You may contact
your Account maintaining branch for information on the Cut-off Time
specific to your branch;

• General Terms and Conditions means the general terms and conditions
applying to your Account and dealings with us.

• IBAN (International Bank Account Number) is a unique identification number

issued by us for a customer Account which has the bank branch identification
along with the Account number;

• Sort Code is a 6 digit identifier code used for making bank to bank payments
within the UK;

• Specific Terms and Conditions means the specific terms and conditions
which apply to your Account in addition to the General Terms and
Conditions.

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 • Transaction Time means the time taken for processing a customer request;

• Tariff of Charges means the Schedule of Charges as amended from time to

time in accordance with the General Terms and Conditions and provided to
you at the time of opening the Account;

• Terms and Conditions means this document and specific terms and
conditions.

• Website means our internet presence at www.sbiuk.com and for internet

banking www.onlineSBIglobal.com;

• Working Days means Monday to Friday except public holidays;

• "we", "us" and "our" means State Bank of India;

• "you", "your" and "yourself" refers to each person who is named as the
Account holder and it refers to any company or other business entity which is
an Account holder. If there is more than one of you then it refers to all of you
individually and jointly. We explain more about what this means for joint
Account holders in sections 2 and 17.1 below.

2. Opening an Account

2.1 Accounts can be opened by individuals, partnership firms, companies,

charitable organisations, trusts or any other organisations formed within the legal
framework.

2.2 Our application form for the Account for which you are applying will contain
the eligibility criteria for opening that Account. You should read the application
carefully to ensure that you are eligible. The information contained in the application
form, including that filled in by you, forms part of our contract. If you have any
queries please contact us on 08081680304

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 2.3 If you are an individual, you may be able to register with us to receive
interest gross. Otherwise interest will be paid net of income tax at the prescribed
rate. Interest on Accounts is subject to deduction of tax at the lower rate, unless we
have received a completed HMRC Form R85.

2.4 The agreement between us relating to the Account is made up of these

Terms and Conditions and includes any other special conditions such as interest
rates, notice periods and charges whether on our Website or in paper form. Please
see sections 6.2 and 15.1 for details of when we may make changes to these Terms
and Conditions or your Account.

Proof of your identity and address

2.5 When you open an Account with us, we need to obtain sufficient proof of
your identity and address to enable us to satisfy our legal obligations and protect
you, the public and us against fraud and misuse of the banking system. Please note
that in some instances we may need to ask you to send in further information or
documents or ask you to visit your local branch. From time to time we may also need
to update the proof of identity and address we hold for you or make any other
enquiries necessary.

2.6 Until we have sufficient evidence to verify your identity and address, we will
not permit payments from your Account.

2.7 You may have more than one Account with us and these Terms and
Conditions will apply to each Account unless you are otherwise notified.

Joint Accounts

2.8 Anyone who is eligible to open an Account with us may be accepted by us

to open a joint Account.

2.9 We are not able to treat the tax status of each of the joint Account holders
differently for the purposes of applying interest, so unless you are all eligible to
receive interest gross we will pay interest net of tax. For further details please see
section 6.4 below.

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 2.10 Each joint Account holder is responsible for complying with these Terms
and Conditions. If one of you breaks any of the terms of your agreement with us
we are able to take action against any or all of you.

2.11 If we find out that any one of you is declared bankrupt, we may put a hold on
the joint Account and refuse to pay out any amount from it until we receive
instructions from the Account holder who has not become bankrupt and the person
appointed to handle the bankrupt person’s assets.

2.12 We will send statements to each of the Account holders, but you can opt out
of receiving more than one statement, in which case we will send the statement
relating to your Account to the first named Account holder, unless you otherwise
advise us. If you opt out of receiving more than one statement then a notice to the
first named Account holder/the one Account holder counts as a notice to all of you.

2.13 Unless you have previously given us instructions to the contrary, we are
entitled to accept the authority of any joint Account holder to give instructions on
behalf of all other Account holders relating to the Account until it is cancelled by any
such other joint Account holders, or treated by us as cancelled as described in
section 13 or by operation of law.

2.14 If any one of the joint Account holders tells us of a dispute between them,
we may treat this as notice of cancellation of the authority of any single joint Account
holder. If we do, any further transactions will need the authority of all the joint
Account holders.

2.15 In the event of the death of any joint Account holder, then subject to any
rights we or a third party may have, any money in the Account will be at the disposal
of the survivor(s).

2.16 We may make information about a joint Account available to any other joint
Account holder by telephone, letter or electronically.

3. Instructions

3.1 Any request or instruction should be given in writing signed by the

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 Authorised Signatory. Firms, companies and other organisations should use their
letterhead in giving instructions. We do not accept instructions by email or over the
telephone.

3.2 Unless agreed in writing with us personal customers may not issue
instructions by fax or as a scanned copy by email or by email.

3.3 Instructions by fax and/or as a scanned copy by email can only be accepted
from corporate customers if we have agreed to this in writing.

3.4 All instructions given to us should be in English.

4. Third Party Mandates

4.1 The Account holder(s) can authorise another person to operate the Account
by executing a third party mandate in our standard format. The Account holder(s)
will continue to be responsible for the actions or omissions of the mandate holder.

5. Paying into your Account

5.1 Once your Account is open, you can make further payments into your
Account:

o by instructing another bank or building society to make an electronic

BACS transfer from your Account with them to your Account with
us;

o by visiting one of our UK branches and depositing a cheque or cash

with one of our cashiers;

o by bank credit across the counter at any UK bank or building society

using one of our paying-in slips. These institutions may charge for the
service;

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 o by standing order through another bank or building society;

o by post with a paying-in slip or letter to your Account holding branch.

Please do not send cash by post;

o by CHAPS, an electronic same-day payments system, within the UK;

o or by international electronic transfer from other countries. Please ask

us for details.

Paying in by cheque

5.2 When you pay a cheque into your Account through another bank, the value
of the cheque is added to your Account balance on the date we receive the funds,
which is normally two Working Days after you have paid it in. When you send a
cheque to us by post, the value of the cheque is added to your Account balance on
the date we receive it and pay it into your Account. In both cases, they are
'uncleared' funds and not yet available to you for withdrawal. We must first ask the
bank of the person who issued the cheque to confirm they will pay us the value (to
'clear' the cheque). If the other bank refuses to pay us its value, the value of the
cheque is deducted from your Account as at the date it was added.

5.3 If you paid the cheque in at another bank, the funds will be available for
withdrawal on the fifth Working Day after they were added to your Account. If you
sent the cheque to us by post, the funds will be available for withdrawal on the fourth
Working Day after they were added to your Account.

5.4 We pay interest on cheques from the fourth Working Day after they
have been added to your Account. For example if you pay a cheque in on
Monday before the Cut-Off Time we will pay you interest from Friday.

Cleared funds

5.5 The value of the cheque will become ‘cleared’ funds by the end of the fifth
Working Day from the Working Day when the funds were added to your Account

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(provided they are deposited before the Cut-off Time on a Working Day). This
means that the funds cannot be reclaimed from you as a result of a cheque being
returned unpaid.

5.6 Proceeds of foreign currency cheques deposited and cleared in the Account
will be converted at the exchange rate in use by us on the day of conversion. If
proceeds are received by us in a currency other than the currency in which the
cheque was drawn, we will not accept liability for any loss that may occur as a result
of fluctuations in foreign currency exchange rates. All foreign currency cheques will
be subject to our collection fee set out in our Tariff of Charges, and those of the
drawee bank wherever applicable.

5.7 When you pay cash into your Account, your funds will start earning interest
from the day the funds are paid into your Account, provided the funds are received
before the Cut-off Time. When you pay cash or make an electronic transfer into
your Account through another bank, the funds will normally be available to withdraw
on the third Working Day after we receive them.

5.8 If a cheque which you have paid into your Account is returned unpaid, its
value will be deducted from your Account together with our cheque return charges
set out in our Tariff of Charges. We will inform you when this has been done.
Depending on the reasons why the cheque was unpaid, we will either ask for
payment again from the bank of the person or business that issued it, or return it to
you.

5.9 Cash is accepted only at our counters and during our Banking Hours before
the Cut-Off Time, subject to satisfactory proof of source of funds. Cash handling
charges apply as set out in our Tariff of Charges.

5.10 Payments into your Account will be credited on the following Working Day
with the appropriate value date as outlined above. The transaction may take longer
time if your instructions are incomplete or partially incorrect or in any way gives rise
to suspicion in which case the matter would be investigated before any decision is
taken regarding application of funds. We will not be held liable for such delays and
no back valuation will be permitted in such cases.

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6. Interest

6.1 When you have money in your Account, you will be eligible for credit interest.
We will work this out on the amount actually in your Account at close of business
each Working Day ,this does not include cheques that have not cleared. You start
earning interest on your Account from the day that cash funds are added to your
Account. Interest is calculated on a daily basis according to our interest rate schedule
available from your local branch we credit interest in accordance with these Terms
and Conditions and our interest rate schedule.

6.2 We may vary the Account interest rate for any one or more of the
following reasons:

o if there is a change in relevant law, regulation, code of practice or to

reflect a recommendation, requirement or decision of any applicable
court, ombudsman, regulator or similar body;

o to reflect any change in the Base Rate;

o to reflect changes or expected changes in the costs we pay to others

and/or changes in inflation, or the costs of the services or facilities we
provide;

o to reflect any change in interest rates charged by other UK competing

banks or financial institutions;

o to reflect any changes in money market interest rates or the cost to us

of money we lend;

o to reflect any reorganisation of our business by it being acquired by or

by our acquiring another bank or organisation

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 o to reflect any event beyond our reasonable control.

6.3 Any interest rate changes may be effective immediately. New rates will be
published on our Website within three Working Days of a change. We will let you
know of any changes in interest rates within 60 calendar days by letter, e-mail,
publishing in our branches or through our Website. Details of our current interest
rates will be published on our Website and on any communication we send you.
If you wish to change or close your Account due to notice of a reduction in
rates, you must notify us within the 60 calendar day period. If you do not notify
us we will consider that you have accepted the change.

6.4 We will pay you interest after deduction of tax at the applicable rate. If
you are eligible and have completed, signed and returned to us the correct form
from HMRC we will pay you interest gross. Please note if you are joint Account
holders then we will always pay interest net of tax unless both of you are
eligible for interest gross for which you would each have to provide a form as
outlined above.

6.5 We will maintain a list of the historic rates for your Account, for savings and
current accounts. You can access these historic rates either by viewing our Website
or by requesting a copy by telephoning us on 08081680304 We will also provide you
with a copy once a year with your statement as set out in section 18.

6.6 Details of interest chargeable for overdraft Accounts agreed by us will be

explained in the facility letter issued to you for such Accounts.

7. Payments out of your Account

7.1 You can make payments from your Account as long as there are enough
available funds in your Account to cover the payments. We will take into account
any other payments which we have paid or agreed to pay from your Account that
day, or which have been authorised for that day, such as standing orders and direct
debits. When a payment or standing order is due on a day which is not a normal
Working Day, we will make the payment on the next Working Day. Please note that
we do not offer overdraft facilities or any borrowing facilities on any personal savings
Accounts and may refuse to make payments where there are insufficient available
funds irrespective of funds you may hold in other Accounts with us. We will charge
you a fee - as shown on our Tariff of Charges- if we have to refuse a payment.

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7.2 When you want to make payments from savings Accounts which do not
have a cheque facility, you can either speak to one of our cashiers at a UK branch or
send us a withdrawal form or letter telling us how you would like the payment to be
made. We can:

• transfer funds by BACS to a specified account at another UK bank;

please ensure that you provide us with your beneficiary's account
details each time you want us to make a payment on your behalf.
Allow at least three Working Days from the day we receive your
instructions for these transfers to clear. The funds will be taken
from your Account on the day we initiate the payment in
accordance with your request and will arrive in the beneficiary's
account two Working Days later.

• transfer funds by CHAPS, an electronic payments system, to

another bank account within the UK; funds are cleared on the same
day. Please refer to our Tariff of Charges for our charges for this
service.

• transfer funds to a bank account in another country by international

electronic transfer. Please enquire for further details. If you want
to make a payment in a currency other than sterling, please contact
us and we will advise you how this can be done and what our
charges will be. The bank receiving the payment may also impose
charges that are outside our control.

7.3 Payment may be made by the Account holder issuing a cheque wherever
cheque books are issued by us. Cheques should be issued in the currency of the
Account. We may not pay the cheque issued by you if there are insufficient funds in
your Account or effecting such payment exceeds the agreed overdraft limit. A
cheque issued may not be paid due to other reasons for example if amount in words
and figures differs, out of date i.e. date on the cheque is more than 6 months prior to
the date of presentation, post dated or Authorised Signatory's signature differs. The
cheque may not be paid in case of suspicion of any fraudulent activity.

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7.4 You can request us to stop payment of a cheque. Such request should be in
writing mentioning Account and cheque details and signed by Authorised
Signatory. There is a charge for this service as set out in our Tariff of Charges.
You should take care when issuing a cheque to prevent forgery. All our cheques are
marked ‘A/C Payee’ and are payable only through the payees Account. You can
request a banker's cheque or draft in your known name or a third party by making a
written request. Charges as mentioned in our Tariff of Charges will apply for the
same.

7.5 Withdrawals may be allowed by way of direct debits received through

clearing.

7.6 Payments can be made by electronic transfer through Swift by providing us

with a written request signed by you. You should provide your Account details from
which the payment will be made, the beneficiary's IBAN, correct details of the
recipient bank, including the bank's Swift (BIC) address and the purpose of
remittance. For payments within the UK, you must provide the account number and
Sort Code of the beneficiary's bank. If there are funds in the Account, payments will
be made within one Working Day of receiving your instructions.

7.7 Any payment made by electronic transfer including through Swift will be sent
to the beneficiary's bank on the same day. However, the value date on which the
beneficiary's account will be credited will depend on the beneficiary's bank. In case
of payments requested in currencies other than the currency of the Account, the
currency conversion would be done at our exchange rate that applies on the day of
the conversion.

7.8 Payments made out of your Account would be based on the information
provided by you. In case the information provided by you is incorrect we will make
reasonable efforts to recover the funds involved in the payment transaction and may
charge you for any reasonable costs incurred in recovering your funds.

7.9 We no longer accept standing orders for outward payments from deposit
Accounts.

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 7.10 Any outward payment request received after the Cut-Off Times will be
considered to have been received on the next Working Day.

7.11 For security reasons, we may contact you by telephone or by email to seek
confirmation of a payment request received through a messenger, by post or by fax.

7.12 You must notify us of any loss suffered by you on any Account or any
unauthorised or incorrectly executed payment transactions as soon as you become
aware of them but not later than 13 months from the date of debit in the Account,
otherwise we shall not be liable to you. However, this condition shall not apply if we
fail to provide you with the information of the payment in line with Section 18.1 of
these Terms and Conditions.

7.13 For payments involving currency conversion, the rate we will apply will be the
rate on offer on that day. The rate is made available to you at our branches or over
the telephone. If a payment is made involving foreign currency and the payment is
returned, we will reconvert the returned payment to the original currency at our
prevailing exchange rate and credit your account. We shall not be liable for any loss
in exchange on account of the conversion.

8. Transaction Processing Time

8.1 The processing time for payments into and out of your Account may be
more than the time set out in Sections 5 and 7 due to the following reasons:

• defective request or insufficient or incorrect details in your

instructions to us;
• to comply with our legal or regulatory obligations;
• order by a competent court;
• order or stipulation by any other law enforcing body;
• business disruption on account of natural calamity, riot, war,
terrorist activity, industrial action, equipment failure or any such
event which is beyond our control.

In above circumstances, we will not be liable for any delay or loss suffered by

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 the Account holder(s).

9. Right of Set Off

9.1 We may use any Account/s held by you with us which are in credit to
reduce or repay any amount you may owe to us in other Account/s held by you in
the same name. In the process we may appropriate fixed deposit/s held by you with
us for a certain period along with the interest payable by us. In cases where the
credit balances are in a different currency than the balances owed to us, then the
currency conversion would be done at the prevailing market rate.
10. Cheques you issue

10.1 If your Account has a cheque facility and you issue a cheque on your
Account, it will normally be deducted from your Account two Working Days after
the recipient pays it into their Account. For example, a cheque paid in on a Monday
will normally be deducted from your Account on a Wednesday. More time may be
needed for a cheque paid into a building society account or any bank outside England
and Wales, or any account held at a non-clearing bank.

11. Charges

11.1 When you open your Account, we will give you details of our Tariff of
Charges for the day to day running of your Account. You can also find out about
these charges by contacting our Customer Services Department or looking at our
Website.

11.2 If we increase any of these charges or introduce a new charge, we will tell
you at least 60 calendar days before the changes take effect. We will tell you the
charge for any other service or product before we provide it to you, and at any time
should you request it. Before we deduct charges for standard Account services
from your Account, we will give you at least 14 calendar days notice of how much
we will deduct.

11.3 If any sum due and payable by you is not paid on the due date, you will be
liable to pay the interest (both after, as well as before, any judgment) on such sum at
such a rate or rates as we may from time to time stipulate from the date the payment
is due up to the date of payment.

11.4 Payments from your Account will be made in accordance with the notice

20
 period applying to your Account. You choose this notice period when you open
your Account. For example, if your Account is on 90 calendar days’ notice, you will
need to allow 90 calendar days from the day we receive your instructions before we
make the payment. You can give notice for a withdrawal by telephone or fax.
However, we will only carry out the withdrawal if we have received confirmation of
your request in writing which also notes the date of your original call or fax before
the date you want the payment to be made.

12. Early Access Charge

12.1 Where restrictions on access apply to savings account you may have early
access to your savings at short notice (a minimum of one Working Day) but,
unless we have agreed otherwise, we will charge you the interest due on the
amount withdrawn for the part of your notice period for which you have not
given notice. So if you withdraw £500 on 15 calendar days' notice from an
Account set up on 90 calendar days' notice, then the interest you would
have earned on that £500 for 75 calendar days (i.e. 90 - 15) will be deducted
from your Account. However this provision will not apply and you will get a
full capital refund if your Account has been opened with us for less than the
notice period.

12.2 If you are a holder of a Fixed Deposit, in the event of your death, we will
repay the capital value and accrued interest without notice or loss of interest,
but only once we receive the necessary legal confirmation of status and
authority. Alternatively and only if requested, a fixed deposit may continue
until the end of the term. Whereas if you hold a fixed deposit jointly with
another person or with other persons, and if one of you should die, the
survivor(s) may elect to transfer the account to his/her/their sole name(s) for
the remaining term or they may receive the capital value and accrued interest
without notice or loss of interest.

12.3 If you are a holder of a fixed deposit, in the event that you are made
bankrupt, we will repay the capital value and accrued interest without notice
or loss of interest, but only once we receive the necessary legal confirmation
of status and authority. Alternatively and only if requested, the Fixed Deposit
may continue until the end of the term. The same provisions apply where
you hold a Fixed Deposit jointly with another person or with other persons
and one party is made bankrupt, although in these circumstances we will
require instructions from both the person appointed to deal with the
Bankrupt’s affairs and the joint Fixed Deposit holder(s).

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13. Closing your Account

13.1 You may close your Account at any time. Additionally for a period of 30
calendar days after the date you open your Account with us, you have the right to
cancel your contract with us by closing your Account. Subject to 11.4 and 12.1
above, the funds deposited will be returned to you together with any interest earned
except for our Fixed Deposit and Notice Account please see the Specific Terms
and Conditions. No charges will be levied for cancelling the Account within this
initial 30 calendar day period from Account opening.

13.2 We may close your Account if you fail to operate your Account in
accordance with these Terms and Conditions or regularly fail to ensure that there
are sufficient cleared funds in your Account to make requested payments. If we
close your Account, we will write to you and, unless there are exceptional
circumstances including but not limited to unauthorised borrowing, we will give you
60 calendar days’ notice of our intention to close your Account(s). We will repay
any credit balance to you and we may require you to repay any money owed to
us. Please see section 17 on your liability to us.

14. Dormant Accounts

14.1 If you have money in a dormant Account, it will always be your property (or
if you die it will become part of your estate). This is the case no matter how many
years pass.

14.2 Please note that we may suspend operation of an Account that has been
inactive for at least 12 months. Before reactivation of a dormant Account, you may
be required to provide suitable evidence of your identity and your legal claim on the
Account.

15. Changes to these terms

15.1 We may from time to time amend our Terms and Conditions for the
following reasons:

• if the change is favourable to you;

• to comply with our legal obligations;
• to reflect changes in general banking practice;
• to reflect regulatory changes;
• where required to do so, or to reflect a decision or recommendation as
the result of any ruling by a competent Court or any other law

22
 enforcing body;
• to reflect changes in costs associated with the relevant technology, the
costs we pay to others relating to the Account or services and/or our
costs of providing the Account, service or facilities.

15.2 We will tell you about any other changes to these Terms and Conditions
and when they come into effect by placing a notice with your statement, on the
Website or by email or by post.

15.3 If we decide to make any change to these Terms and Conditions we will
give you 60 calendar days' notice of the change. If we make any changes to these
Terms and Conditions that does not disadvantage you, we may make them
immediately and tell you about them within 60 calendar days of having done so.

15.4 If the changes are not to your advantage you may wish to close your
Account within 30 calendar days of the date of the notice of the changes. If you
reject the proposed changes, we may take this as a rejection of the contract with us
and a notice of termination. We will contact you to before we close your Account. If
we do not hear from you, we will consider that you have accepted the changes we
have made to the Terms and Conditions.

16. Our liability to you

16.1 If we do not carry out your request or delay doing so or do not do carry out
your request correctly, we will be liable for any direct loss as a result and the amount
of interest that you did not receive from us as a result of our failure or late action or
mistake if 16.2 below does not apply. We will not be responsible to you for any
indirect losses or losses that we could not reasonably have expected to foresee or to
occur.

16.2 Our responsibility in relation to section 16.1 above is subject to the following.

16.2.1 We will not be responsible to you for any loss you may suffer if we
or any of our agents or correspondents are prevented from or delayed in
providing you with any banking or other services due to compliance with laws
preventing money laundering, fraud or terrorist financing, strikes, industrial action,
failure of equipment or supplies, or other causes beyond our reasonable
control.

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 16.2.2 We will not be responsible for any payments from the Account or
any loss you may suffer including any indirect loss, caused by:

• your failure to keep your password, user name and memorable

word or other confidential information about your Account
secure;

• your failure to take all reasonable precautions to prevent

unauthorised or fraudulent use of your password, user name or
memorable word or other confidential information about your
Account; or

• your failure to comply with the security obligations set out in

these Terms and Conditions and the security
recommendations on our Website.

17. Your liability to us

17.1 You are responsible for payment of any debt that arises on your Account. If
you have a joint Account, you will each be responsible for any money owing on
your Account, both individually and jointly. This means that if one of you is unable to
repay the money owing, the other Account holder(s) can be required to pay the
amount due in full, even if your relationship has changed or ended. Where a joint
Account holder has an Account with us in their sole name, and that Account has a
credit balance, we can use money in that Account to repay any money owing to us
on the joint Account.

17.2 If any Accounts you hold with us are in credit, we may use the credit to
reduce or repay any amounts you owe on other Accounts you hold with us in the
same name. If we decide to do this, we will tell you why and when it will be done.

18. Statements

18.1 Statements for all Accounts are issued in July and January free of charge.
Statements are additionally issued in April and October for Accounts with a cheque
facility. You can also choose a statement frequency that results in a statement every
time there is a transaction on your Account or you can choose another frequency,
for example weekly or monthly. You can also contact us and request an up to date

24
 statement for your Account at any time, free of charge.

18.2 We recommend that you carefully check your Account history regularly. If
any entry appears to be wrong, you should tell us as soon as possible.

19. Internet banking

19.1 If you have indicated that you would like us to provide internet banking
services, the following terms and conditions also apply for those Accounts registered
for online banking. As with the General Terms and Conditions, we may change the
following terms and conditions in this section 19 at our discretion and give you at
least 60 calendar days written notice, except where specifically stated otherwise. The
changed terms and conditions will apply from the date specified in the notice.

19.2 Section 19 sets out the rules governing your internet access to your
Account(s) and explain our obligations to you, and your obligations to us, when
operating these Accounts.

19.3 We offer Online Banking facilities to all Account holders. Please log on to
https://www.onlinesbiglobal.com/64GB/web/Index.htm and download a registration
form for individual accounts and Corporate Registration form for Company/business
accounts. The completed registration form should be sent to the Branch Manager
where you have your Account.

19.4 You will then be sent your ID, password and transaction password for
internet banking. 'Net banking' enables you to do the following:

• View your Account on line

• Transfer funds between Accounts
• Make payments
• Pay bills
• Remittances
• Order drafts
• Request cheque books
• Other related enquiries

Use of websites

19.5 You can access your Accounts through the Website after you receive the

25
 User ID and passwords sent to you by us.

19.6 Service will be available in respect of all operating Accounts with the same
account identifier which you have mentioned in your application. All other
Accounts not listed in the registration form will be available on the Website for the
purpose of enquiry only.

19.7 All requests received from you are logged and transmitted to your local
branch for their fulfilment. The requests became effective from the time these are
recorded/registered at the respective branch.

19.8 When using our Websites, the terms of use applicable to the relevant
Website will apply.

Availability of internet banking services

19.9 We work hard to make sure our internet banking services are available at the
times you wish to use them. However, we cannot and do not guarantee their
availability, nor their access to, and use of, our Websites will be uninterrupted or
error free. From time to time we may need to suspend provision of the internet
banking services for repair, maintenance or upgrade purposes.

19.10 We will not, in any event, have any liability to you if we are prevented
from, or delayed in, providing any internet banking services due to the failure
of any telecommunication link or other equipment or infrastructure not owned
or controlled exclusively by us and/or any acts or omissions of third party
telecommunications or internet service providers.

Instructions

19.11 For the purposes of this section 19 and the web requirements you agree:

(1) to provide written confirmation of your request to make a

withdrawal from your Account; and

26
 (2) to provide all other instructions in relation to the operation of your
Account in writing (unless we have made other specific and
documented arrangements), you can comply with these requirements
by providing us with the relevant details using your authenticated
security details on our Website.

However, please pay careful attention to the security notice set out in the
following section and comply with it.

Security notice

19.12 Internet banking is safe and convenient as long as you take a number of
simple precautions, including (but not limited to) the following:

• keep your computer secure. Make sure that any computer you are
using benefits from up-to-date anti-virus and spyware software and a
personal firewall. If you use a public computer (for example, in an
internet café), you should ensure you do not leave any personal details
stored on that computer after you have finished using it;

• keep your username and passwords secret. This includes but is not
limited to taking the following precautions:

• destroying any password notification immediately after receipt from us;

• never writing your password or username details in a way that might be

understood by someone else or recording them on any item or in any place
that might be accessed by someone else;

• taking all reasonable care to ensure that no-one sees your password or
username when you use them;

• you are advised to avoid choosing a password that is generic in nature,

guessable/inferable from personal data such as name, date of birth,
address, telephone number, driving license/car number etc;

27
 • treat e-mails you receive with caution and be very wary of e-mails or
calls asking you to reveal any personal security details. We or the
police will never contact you to ask you for your internet banking
password or username information;

• always access our Website via the www.sbiuk.com or by typing the

address into your web browser. Please ensure that you double check
the spelling is correct when typing our address into the browser, before
using the Website that you are directed to. We will never send you an
e-mail with a link through to our internet banking Website;

• follow any further security advice we may offer from time to time on
our Website;

• Visit www.banksafeonline.org.uk for more useful information.

19.13 There is no way to retrieve the password from the system. In case you
forget your password, you will have to approach the branch to re-set the password.

19.14 Please remember that internet communications are not secure unless the
data being sent is encrypted. We cannot accept any responsibility for any
unauthorised access by a third party and/or corruption of data being sent to us by e-
mail.

19.15 If you are a victim of internet fraud and someone gains unauthorised access
to your Account, then we will refund the full amount of money taken from your
Account, provided each of the following conditions applies:

• you have not given your security details including your password or
username details to anyone else;

• the loss was not caused by your use of an account aggregation service

28
 (i.e. a service provided by another company that allows you to view all
of your bank details on a single website);

• you have not sent us incorrect payment instructions;

• you have used reasonable care when using internet banking (e.g.
logging off at the end of each internet banking session and not leaving
your computer unattended while logged on to the internet banking
service);

• you inform us as soon as possible of any security breach, or potential

breach, of which you are aware;

• you have not acted fraudulently;

• you have taken the precautions described in these Terms and

Conditions and complied with all other reasonable instructions we
may give from time to time regarding security details.

19.16 Our promise to compensate you in the circumstances described above only
extends to a refund of the amount taken from your Account and does not extend to
any additional loss you may suffer in consequence of any unauthorised access to
your Account.

Client browser

19.17 Your client browser must be Javascript enabled.

19.18 Any amendments to the functionality listed above will be notified to you within
your secure internet banking session.

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Transactions

19.19 Some specific conditions apply to transactions processed through internet

banking:

19.20 Transactions carried out in internet banking for transfer of funds within the UK
or bill payment by the Cut-Off Time will be processed on the same Working Day.
Instructions received after the Cut-Off Time will be processed on the next Working
Day. The transfer of funds or bill payments will be made through the BACS payment
system.

19.21 An instruction will only be accepted by us if it has been effected through the
internet service using your User ID and password. We will not further check the
authenticity of an instruction.

19.22 We may refuse to act on an instruction, for example if the transaction

exceeds a particular value or other limit such as the transactions will create an
overdraft or exceeds an agreed overdraft limit.

19.23 You may terminate your internet services by sending a Termination Notice to
us. Such termination will be effective from the date we receive the Notice.

19.24 Banking instructions to pay money from your Account may not be cancelled
once you have authorised them and we have accepted them, unless we agree to do
so at our discretion. If we do agree we may make a charge as set out in our Tariff of
Charges.

Statements

19.25 If you have opted to continue receiving your statements in paper format,
they will be sent to you at the same frequency as currently set on your Account.
[You may change this from the within internet banking section of our Website at any
time].

19.26 If you have opted to receive statements online, please note that official
reminders of their availability will only be e-mailed to you bi-annually (January and

30
 July). If you have elected to have them produced more frequently, they will be
available within your Internet banking area but we will not tell you each time one is
produced. In both cases you will be able to view (and print) all your transactions
between particular dates online at any time.

19.27 You are required to check the record of your transactions and statement of
Account(s) sent to you from time to time and discrepancy/(ies) if any, should be
notified to us immediately.

Joint Accounts

19.28 Username and password information will be sent to all Account holders
separately, but for the purposes of the General Terms and Conditions and the
requirements: (1) to provide written confirmation of your request to make a
withdrawal from your Account; and (2) to provide all other instructions in relation to
the operation of your Account in writing unless we have made other specific and
documented arrangements, one of you can comply with these requirements by
providing us with the relevant details using your authenticated security details on our
Website. However, please pay careful attention to the security notice set out above.

19.29 If any of you informs us in writing of a dispute between you, we will treat this
information as notice of termination of the mandate, thereby suspending internet
access. Any further transactions will need the authority of all of you.

Variation/Termination

19.30 We may at any time vary or terminate some or all of our internet banking
services. In the case of any material variation, or termination, we will give you as
much notice as we reasonably can in the circumstances. Changes will be notified to
you through a notification on the Website.

19.31 For any help, please call our Internet Banking Department on 020 7600 6444
or write to us at the following address:

Application Administrator (Internet Banking)

State Bank of India
15 King Street
London

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 EC2V 8EA

20. Confidentiality

20.1 We will treat all your personal information as private and confidential (even
when you are no longer a customer). Information we hold about you will not be
disclosed to anyone (including other companies in our group) unless:

• we are legally required to disclose;

• we have a public duty to disclose;

• our interests mean we must give the information (for example, to

prevent fraud). However, we will not use this as a reason for giving
information about you or your Account (including your name and
address) to anyone else, including other companies in our group for
marketing purposes without your consent;

• the disclosure is made with your consent;

• this is as set out in section 21 below;

• this is as set out in our Privacy Policy.

21. Data Protection

21.1 State Bank of India is a data controller registered with the Information
Commissioner under number Z552946X

21.2 In order to provide you with bank Accounts and other products and services
we need to collect, use, share and store personal information about you and your
transactions (“Your Information”). This section explains how we will use Your
Information.

What Your Information includes

32
 21.3 Your Information includes information which we:

a. obtain from you or third parties, such as employers, joint Account

holders, credit reference agencies, fraud prevention agencies or other
organisations when you apply for an Account with us or for any of
our other products or services, or which you or they give to us at any
other time; or

b. learn from the way in which your Accounts with us are administered
and managed, from the transactions made such as the date, amount,
currency and the name and type of supplier (for example, supermarket
services, medical services, transactions in assets, retail services) and
from the payments which are made to and from your Accounts with
us.

Where you provide personal and financial information about others (such as
dependents, other family members and a joint Account holder) you confirm
that you have their consent or are otherwise entitled to provide this
information to us and for it to be used in accordance with these Terms and
Conditions.

How We Use Your Information

21.4 We and other companies in the State Bank of India group of companies will
use Your Information to manage your Accounts, give you statements and provide
our services and products, for assessment and analysis (including credit and/or
behaviour scoring, market and product analysis), to prevent and detect fraud, money
laundering and other crime, to carry out regulatory checks, to meet our obligations to
any relevant regulatory authority, to develop and improve our services to you and
other customers and to protect our interests.

Use of Your Information for Marketing Purposes

21.5 With your permission we and other members of the State Bank of India

33
 group of companies may use Your Information to inform you by letter, telephone,
text messages, digital television, email and other electronic methods about products
and services (including those of others) which may be of interest to you. If you do
not want us to contact you about such products and services please let us
know by writing to us at State Bank Of India 15 King Street London EC2V 8EA
mgr.operations@sbilondon.com

Third Parties with whom we may share Your Information

21.6 We may share Your Information with the following third parties, wherever
located:

a) other companies within the State Bank of India group of companies

(which means our subsidiaries, our ultimate holding company and its
subsidiaries);

b) our partners and companies and organisations that provide services to

us or assist us or act as our agents including but not limited to sub-
contractors and professional advisors;

c) anyone to whom we may transfer our rights and/or obligations under

any agreement we have with you;

d) any third party as a result of any restructure, sale or acquisition of any

company within the State Bank of India group of companies;

e) your advisers (including but not limited to accountants, lawyers or

other professional advisors) where authorised by you;

f) credit reference agencies and fraud prevention agencies;

g) where we have a duty to do so, or if law or regulation allows us to do

so.

34
 Save as set out above we will not disclose Your Information to anyone
unless the disclosure is made with your consent.

Transfer of Your Information Overseas

21.7 We may transfer Your Information to another company in the State Bank of
India group of companies or to a service provider or agent in another country
(including countries outside the EEA) for the purposes stated in condition 21.4 above.
We will make sure that the group company, service provider or agent agrees to apply
the same levels of protection as we are required to apply to Your Information and to
use Your Information in accordance with our instructions.

Credit Reference Agencies and Fraud Prevention Agencies

21.8 We may give Your Information to and receive information from credit
reference agencies and fraud prevention agencies. We and other organisations may
access and use this information to prevent and detect fraud, money laundering and
other crimes, to make credit assessments and decisions about credit related services
to enable us to manage and take decisions about your Accounts, insurance policies
and insurance claims and to recover debt.

Information held about you by the credit reference agencies may already be
linked to records relating to your partner or members of your household
where a financial “association” has been created. Any enquiry we make at a
credit reference agency may be assessed with reference to any associated
records. Another person’s record will be associated with yours when:

a) you make a joint application;

b) you advise us of a financial association with another person; or

c) if the credit reference agencies have existing linked or “associate”

35
 records.

This “association” will be taken into account in all future applications by either
or both of you and shall continue until one of you applies to the credit
reference agencies and is successful in filing a “disassociation”.

Credit reference agencies keep a record of our enquiries and may record, use
and give out information we give them to other financial institutions, insurers
and other organisations. If false or inaccurate information is provided or fraud
is suspected details may be passed to fraud prevention and credit reference
agencies. Law enforcement agencies may access and use this information.
The information recorded by fraud prevention agencies may be accessed and
used by organisations in a number of countries including the UK. We can
provide the names and addresses of the credit reference and fraud prevention
agencies we use if you would like a copy of Your Information held by them.
Please contact us at 15 King Street London EC2V 8EA if you want to receive
details.

Right to receive a copy of Your Information

21.9 you can ask for a copy of Your Information by writing to us at 15 King
Street London EC2V 8EA. We may charge an administration fee to meet our
costs in providing you with details of Your Information.

Where to find further information

21.10 Please visit our Website to see our Privacy Policy which provides further
information about how we use Your Information.

22. Bankers' references

22.1 We will only provide bankers’ references or bankers’ opinions in reply to a

status enquiry about you if you have given your written consent. A copy of the reply

36
 will be available to you on request. If you would like to know more about the way
that bankers’ references work and our charges, please let us know.

23. General

23.1 The operation of the Account will be governed by English Law. The
language we will use in our communications will be English. These Terms and
Conditions are governed by English Law.

23.2 Please tell us straight away if you change your name, address, or contact
details. If we do not hold correct information we may suspend your Account to
protect us both.

23.3 You agree that we may request additional information from you or to check
from time to time that the existing information we have about you is up to date, in
order to meet our legal and regulatory responsibilities.

23.4 To ensure that we carry out your instructions accurately and for
compliance and training purposes, we may monitor and/or record your telephone
calls with us. Any recordings remain our sole property.

24. Miscellaneous

24.1 We may change our Banking Hours, availability of banking branches by

display of notice in our branches or in the press or by post or by posting on our
Website.

24.2 We may block your Account to protect you and us if we suspect fraud or
other suspicious transactions. In such cases, we may be required to carry out the
process of establishing your identity again. Once we have sufficient proof, we will
reactivate your Account.

25. Complaints

25.1 If we do not deliver the standard of service you expect, or if you think we
have made a mistake, please let us know. You can call us on 02074544391 or email
us at chief.fo@sbilondon.com or write to us at:

Chief Financial Officer

37
 State Bank of India
15, King Street
London
EC2V 8EA

25.2 We will then arrange for the right person to investigate your concerns.
Please when writing to us provide as much information as you can in order to assist
our investigations.

25.3 In the unlikely event that you remain dissatisfied with our response or we
have not sent you a final response within 8 weeks of the original complaint, you have
a right to take your complaint to the Financial Ombudsman Service (FOS).

25.4 If you would like FOS to look into your complaint you must contact them
within 6 months of the date of any final response issued by us. You can find out
more about the role of FOS by contacting us and requesting a copy of our FOS
leaflet, or you can write to FOS at:

The Financial Ombudsman Service

South Quay Plaza
183 Marsh Wall
London
E14 9SR
Telephone number: 0845 080 1800
Website: www.financial-ombudsman.org.uk

26. Regulatory Information

26.1 State Bank of India is established in the UK with company number BR000696
at 15 King Street, London, EC2V 8EA. This is our Head Office. We are authorised
and regulated by the Financial Services Authority (FSA). Our FSA Firm reference
number is FRN 139156 and you can check our details online on the FSA register by
going to www.fsa.gov.uk.

26.2 State Bank of India is a member of the Financial Services Compensation

Scheme (the “Scheme”) established under the Financial Services and Markets Act
2000. In respect of deposits with a UK office, payments under the Scheme are
limited to 100% of the first £50,000 of a depositor’s total deposits with the bank. For
joint Account holders the maximum limit applies to both Account holders (i.e. £50,000

38
per Account holder). Most depositors, including individuals and small firms are
covered. Large businesses are generally excluded from the Scheme. More
information can be found at the Scheme website www.fscs.org.uk or by calling them
on 020 7892 7300.

39