BanayanTree Services Limited (hereinafter referred to as "BanayanTree" or "BTSL") is a company incorporated under the Companies Act, 2013, CIN: U67190DL2016PLC300962 having registered office at Express Building, 9-10, Bahadurshah Zafar Marg, New Delhi -110 002, India and corporate office at #Plot No. 391, Udyog Vihar, Phase III, Gurgaon -122 016, Haryana, India.
BanayanTree is registered with SEBI as Investment Adviser with registration number INA100006898 and provides the Investment advisory services on ETMONEY Platform under the name "Genius".
The terms and conditions mentioned hereunder will be applicable to those clients who wishes to avail the Investment Advisory services under Genius Subscription, using the ETMONEY Platform. If for any reason whatsoever, any prospective client does not agree to these Terms and conditions or do not wish to be bound by them, then client must not avail services under Genius Subscription. Further BTSL reserve the right to update/modify these Terms and Conditions, at any time, at its sole discretion without any prior intimation to the client.
The revised/modified version of the same shall be posted on the ETMONEY Platform. It is the client's responsibility to review the same on a regular basis. By accessing and continuing availing services of Genius Subscription, it is deemed that the Client has understood and agreed to the revised version from time to time.
"AMC" means asset management company.
"Client" means the individual who avail Investment advisory services of BTSL after completing the onboarding process.
"CKYC" means the central KYC (Know Your Customer) which is managed by CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest of India), which is authorized by Government of India to function as the Central KYC Registry (CKYCR).
"Cut off time" means the time determined by Banayantree, within which if any request including Investment advise implementation request is received will be taken up for processing on that day. This time may be different from the AMC cut off time and will also be different between various schemes.
"Direct Plan" means investing in mutual fund schemes directly, without the involvement of an agent/broker/distributor.
"ETMONEY Platform"- means website www.etmoney.com and the Mobile Application ETMONEY.
"Easy Pay" is the mandate given by the Client to BanayanTree for giving payment instructions to their respective banks, on Client's behalf.
"Genius Subscription" means subscription to the Investment advisory services provided by BTSL for the term selected by the client.
"Investment Account" means the account opened for investments in mutual funds and other financial products.
"Investment Advisor" means those advisors who are registered with SEBI as Investment Advisor and authorised to provide Investment advice.
"Risk Profile" may also be referred as "Investor Personality" and shall mean the process of understanding the investor including its risk tolerance.
"KYC" means Know Your client.
"SEBI" means Securities and Exchange Board of India.
Terms and Conditions
Before availing any products/services, the Client has to complete all prescribed KYC requirements with the KYC Registration Agency as per the SEBI Know Your Client ("KYC") and CKYC guidelines and/or as per the directives issued by any regulatory / government agencies or authorities from time to time. Post successful completion of the KYC/ Client Due Diligence Procedures by BTSL, Client need to immediately update the information/ details earlier submitted upon any change and periodic/annual updation financial details.
Prior to availing any execution services or any of the service, the Client must open the Investment account (which can be used for assistance in buying any product on ETMONEY Platform) by completing the KYC formalities and upon successful verification by Banayantree.
In case the client places any transaction order and/or transfer funds (towards settling of the transaction) along with the Investment account opening, then the Client should complete the account opening process as early as possible. Also, in case Banayantree seeks any additional document/information, towards Investment account opening, the Client should submit the same within 2 Working days. In case the client does not open the Investment account or in case the client does not provide the additional information sought for by Banayantree, within the time frame specified above, then Banayantree shall cancel the order placed and the Banayantree may initiate the refund back to the client.
The Client agrees and understands that he/she is availing the Investment Advisory Services ('IA Services') of BTSL (Genius) at his/her own discretion, entirely at his/her own risk, and Client is under no obligation to avail any of the services offered by BanayanTree (through the ETMONEY Platform).
BTSL shall provide IA Services, provided the client is KYC compliant, completed Investment personality test/risk profile, executed advisory agreement and completed all other formalities. In case Client has not completed the process entirely or in case of any discrepancy in the information provided, it may lead to the deactivation of Genius services /Subscription. All the formalities are precondition of availing Investment advisory services along with all associated services.
Fee for Genius Subscription will be charged upfront on a periodic basis. The date of subscription will be the date on which the client executes the Investment Advisory agreement, or the date of availing Subscription or date of payment made, whichever is earlier.
BTSL reserve the rights to provide the discounted prices and/or waive off the fee or part of it for promotion of its services.
BTSL at its sole discretion may alter the terms & conditions of the promotional offer and may also suspend the offer by updating the same on its website/mobile application and Its the User’s responsibility to review the same on a regular basis. By availing the ET Money Genius services, it is deemed that the User has understood and agreed to the revised version.
The Client agrees and understands that BanayanTree at its sole discretion, shall provide Investment Advisory services on the basis of defined parameters covering various aspects and tools to match each Portfolio best suited to the underlying client's investment goals that each client chooses at the investment advisory platform during the goal creation or while onboarding on the ETMONEY Platform. Any attempt to access the non-advised portfolio or execution of the same shall be at the sole discretion of the client and BTSL doesn't own any responsibility in the same. The client shall be solely responsible for all act and actions on not advised portfolio.
Investment personality assessment/risk profiling is essential to provide advice on suitable product based on various criteria's, hence client has to ensure that he/she has carefully read, understood and then submitted the information during the completion of investor personality test. The client should carefully give consent on the completed risk profile/investor personality outcome shared on the registered email and/or mobile number.
The Client understand that BTSL shall provide the Investment advisory services upon completion of the process of executing agreement and Investor Personality assessment along with the other formalities for availing Genius Subscription, and client shall be solely responsible for any delay in activation of the Genius Subscription.
The client understands and agrees that BTSL shall not refund the fee in case client executed the Investment advisory agreement and had not performed any pending must have formalities including the Investor Personality assessment for the term selected for Genius Subscription subject to SEBIs' guidelines.
Genius advised portfolios only provides a few possible ways to achieve clients' goals and not the only possible ways. Further, it does not guarantee or provide any assurance for meeting of desired targets or specified returns, even if displayed or mentioned. This is only a general direction and expectation and the same should be considered accordingly.
Genius subscriptions provides various investment strategies based on the risk profile/investor personality, volatility as considered suitable to the investor, Investment goal etc. based on its research and expertise.
Estimates of income and growth in the portfolio will be based on the various assessments including the prevailing economic conditions. However, no guarantee of future performance will be given, and results may vary from the estimates shown. The figures in the portfolios include various estimates with respect to taxation and other laws, which we believe to be relevant. The Plan does not also assure that the goals will be achieved, or the returns are assured. It only provides certain possible scenarios based on current day data.
In case Client chooses to implement the whole or any of the parts or aspects of the portfolio, Client agree to do so at his/her own risk and independent assessment. The implementation of the advised portfolio and all related obligations, implications and liabilities or losses, if any, shall be wholly clients' responsibility and BTSL shall not, in any way be held responsible or liable for any of the outcomes of such implementation or related decisions made by client. (We further request client to read and understand the offer documents of any investment instrument that client chooses to make before such decision is taken.
The portfolios will be for the sole use of the person to whom it is addressed and for no other purpose. No responsibility is accepted for any third party who may use or rely on the whole or any part of the content of the financial plan.
A client may also choose to override such Investment strategies/Portfolio at its own risk, in which case the Portfolio selected may not align with such client's investment goals.
The rebalancing of the portfolio basis the market conditions and various other parameters shall be displayed on the platform. Further, BTSL will also provide alerts in connection to rebalancing of portfolio at its own discretion and the same shall not be constituted as an obligation with respect to BTSL. Further BTSL basis its research and expertise shall decide the periodicity of the review/ rebalancing of the portfolio without any obligation in this regard.
BTSL advises clients to act on the portfolio recommended by it and expect clients to strictly abide by the same. Any attempt or act to deal in non-advised portfolio shall be at the discretion of the client and client is solely responsible for the act or action done in this regard without any liability to BTSL whether directly or indirectly.
Notwithstanding our advice, Clients' decision, action or omission for financial plans, investment baskets to buy, sell, hold or otherwise deal in the Products shall be based on his/her own independent evaluation of the risks and rewards of the investments and client own verification of all the relevant facts, including financial and other circumstances and a proper evaluation thereof.
BTSL may provide the Implementation service of the advice as on convenience to client without any obligation and BTSL shall not charge any fee for such implementation services. BTSL merely act as aggregator of such Implementation request and shall forward such request with the respective service providers. Further, BTSL has entered into agreement with a Technology company which enable limited stockbrokers for placing client orders through its technology integration and BTSL has no role to play in this regard.
Client must be aware that the stock process is dynamic in nature and prices fluctuates rapidly, and it is possible that the order may get rejected due to shortage of funds in the client's broking account, hence client has to ensure sufficient funds are available his/her broking account. Further client must understand that the estimated price shown at the ETMONEY platform with respect of transaction value is just for the limited purpose of estimation at a certain point of time and may not be the true reflector of current price at which order may get executed.
Client understands that BTSL while giving investment advice to clients, may also invest in their own accounts, provided entered transactions on its own account should not be contrary to the advice given to the Client.
Client understand and agree to indemnify and hold harmless BTSL and any of its associates, affiliates and their respective directors, officers, employees, agents and controlling persons from and against any and all losses, claims, damages and liabilities, whatsoever and howsoever caused, incurred, sustained or arising from, or in connection with, the provision of services to client by BTSL.
Client understands that BanayanTree has entered into agreement with various service providers for providing the various services on the ETMONEY Platform. In the event of termination of agreement with such service provider there is a possibility of deficiencies in services or some of the services may remain temporarily unavailable. Banayantree to the best of its efforts will try to restore the services as quickly as possible. However, Banayantree will not own any liability/ obligation and risk arising out of it directly or indirectly.
The estimation on return, given at any place in the app, is a mere an estimate and indicative based on the past performance. The same should not be considered as a promise, guarantee or indication of future returns. Future returns may also be negative.
Any tax rebate figures indicated on the app is based on the assumption that the Client is in the highest tax slab (i.e. 30%). The same is based on the current tax rates. Tax rates are subject to change.
Client understands and agree that BTSL on the specific request of the client may try to cancel transaction which are initiated but not completed on the best efforts basis. There may be many circumstances in which the order cancellation may not be possible, and ETMoney does not own any liability or obligation in this regard.
BTSL reserves the right to terminate/suspend/freeze User Account, upon the occurrence of any of the following events:
if client commit a breach of any of the terms and conditions hereunder, advisory agreement;
basis any orders/instructions/communications from the regulatory or law enforcement agencies;
the client become insolvent or enters into liquidation or receivership or suffers an administration receiver to be appointed in relation to the whole or any part of its assets, or suffers any judgment to be executed in relation to any of its property or assets, if any of these would adversely affect the performance of the obligation under these terms;
any of client representations, warranties or statements hereunder or in the Application Form or in any document delivered pursuant to these terms and conditions have not been complied with or is incorrect or incomplete in any respect or if the client has provided any misleading information.;
if client is involved in any kind of misconduct or mischief including impersonation whether knowingly or unknowingly.
Any other circumstances, it may need for fulfilment of any obligation.
Client understands and agrees that, if he/she enters into any capital market transaction from any foreign jurisdiction, then client shall comply with all the applicable laws and shall not hold BTSL responsible for any non-wilful non-compliances/violations.
Investment Risk Factors
The Client should read and understand the following risk facts before implementing any Investment advise provided by BTSL:
All the security market investments are subject to various systematic and unsystematic risk including market risks, we request client to read and understand the policy wordings, offer documents of financial products/ services in which clients choose to make investment before such decision is taken.
The investments are subject to various other risks including Liquidity risk, counterparty risk, concentration risk, system risk, credit risk, reinvestment risk, inflation risk, Interest rate risk, Economic risk, Diversification risk, volatility risk etc.
The NAV of the schemes may fluctuate depending upon various micro-economic and macro-economic factors like economy, interest rates, stock market performance, Company performance etc.
Past performance is not an indicator of similar future returns.
There can be no guarantee that a scheme's investment objectives will be achieved.
The Client should consider various factors like the performance track record of the scheme, scheme objectives, risk factors etc. before making investment in any scheme.
Client understands that while implementing investment advise through ETMONEY Platform, investment amount directly goes to AMCs' bank account and at no time, BanayanTree receives the investment amount in its account. BanayanTree shall only receive such sums of monies from the client as are necessary to discharge the client's liability towards fees/charges owed to the Banayantree.
Client understand that BanayanTree has tied up with Payment Gateway for processing the payments. Hence, whenever the money transferred through payment gateway, the funds may be available to AMC after a time lag from the time it is debited from client's bank account.
Client understands that in the event of any failures in the payments link or in case of any delay in the payment instructions being processed by the Payment Gateway or the Bank or in case of any fraudulent transactions in the Client's Bank account, BanayanTree shall not be held responsible for the same. BanayanTree merely provides the access to the Payment Gateway and shall not be liable for claims/damages of any nature.
Client understands that in case of successful transfer of money but failure of investment transaction, refund will be initiated by AMC within (7) seven business days and by Payment gateway within (2) two business days, as the case may be. Actual credit of money in the Client's Bank account will depend upon the Client's respective bank/payment gateway.
Client understands that the information and the contents on the ETMONEY Platform, like securities details, mutual fund details, past performance, companies' information including its trading prices etc, are based on information, obtained from third parties, which is believed to be true and correct to the best of knowledge. BanayanTree does not provide any representation or warranty/guarantee of any kind, either express or implied, including without limitation, any representation or warranty for accuracy, continuity, uninterrupted access, timeliness, sequence, quality, performance, fitness for any purpose or completeness or delay in supplementing such information or are based on information available. Banayantree and/or its Group Companies and its directors, employees shall not be held liable for any loss or damage caused, directly or indirectly, from Client relying on such information.
Client understands that any links provided on the ETMONEY Platform is on "as is" basis. BanayanTree does not take any responsibility nor guarantee about the performance or content of that link/website.