Common use of ATM Operations Clause in Contracts

ATM Operations. 1. For the purpose of sourcing and replenishing cash in ATM, franchisee will act as Vakrangee’s authorized official. 2. The Franchisee shall replenish the cash in the ATM as per the stipulated Vakrangee Cash Management Process. 3. The Franchisee shall open and maintain dedicated ATM Settlement account with the Bank as per the gazette notification 68/2019/F.No.370142/12/2019 – TPL dated 18th Sept 2018 issued by Ministry of Finance. 4. THE FRANCHISE MUST ALWAYS ENSURE THAT THE CCTV/NVR EQUIPMENT IN ▇▇▇▇▇▇ IS FUNCTIONAL, AND THE FRANCHISEE SHALL BE LIABLE TO FURNISH FOOTAGE RELEVANT TO TRANSACTIONS IN THE PRECEDING 90 DAYS UPON DEMAND FROM VAKRANGEE. THIS IS A MANDATORY COMPLIANCE REQUIREMENT FROM THE RESERVE BANK OF INDIA (RBI). THERE IS ZERO TOLERANCE ON NON-COMPLIANCE TO THIS CLAUSE AND FRANCHISEE SHALL BE LIABLE TO PENAL ACTION INCLUDING TERMINATION AS MAYBE DECIDED BY VAKRANGEE. 5. Franchisee shall ensure that the cash to be loaded in the ATM is withdrawn from the designated bank account of any scheduled bank, including Cooperative Banks and Regional Rural Banks. Franchisee shall not load cash obtained from any source other than bank branch of any scheduled bank. Franchisee shall provide required proof of cash withdrawn from bank branch and upload it in Vakrangee’ s system. 6. Franchisee shall ensure that the currency notes obtained from bank branch are genuine and ATM fit only. 7. Franchisee shall replenish the ATM (in his/her/ their custody) with only ATM fit notes under the surveillance of CCTV after passing all the notes through Currency Counting and Fake Currency detection machine for verification. In case any counterfeit note is dispensed from ATM or obtained during cash counting, the same should be reported to “Forged Note Vigilance Cell” at Vakrangee Head office for further resolution and action. 8. Franchisee shall fill the reports specified by Vakrangee for cash filled into ATM. 9. Franchisee shall carry out First Level Maintenance (FLM) activity of the ATM as and when required. 10. Franchisee shall have full responsibility for the management of keys and combinations and passwords of the ATMs and shall be solely and entirely responsible for safety and security of Cash. 11. The CCTV provided by Vakrangee is for Centralized monitoring of the ATM by Vakrangee Team. Upon installation of the CCTV while ATM onboarding, franchisee will cooperate with Vakrangee Team to ensure that the CCTV is centrally connected in Vakrangee’s Centralized Monitoring System. After completing installation, franchisee will ensure that CCTV is functional all the time and connected to Vakrangee’s Centralized Monitoring System. 12. The ATM shall be manned at all times. The franchisee shall not leave the ATM unattended for the complete duration when the ATM is available to customers for use. Also, any queries/complaints raised by the customer related to ATM shall be addressed immediately. Franchisee shall raise a ticket in the internal system for Vakrangee to address the complaints raised by the customer. 13. Franchisee shall follow all rules and guidelines provided by RBI, NPCI, IBA and any other applicable regulatory bodies from time to time. 14. Franchisee shall comply with the applicable Anti-money laundering rules and regulations by respective regulatory bodies to ensure that no illegal cash is loaded in the ATM.