Memorandum of Understanding

In Affidavit the Company named as AIMRA CORPORATION PRIVATE LIMITED having

registered office at office at C-599/F, 3RD FLOOR, MAJLIS PARK, DELHI -110033 (hereinafter
referred to as Company which expression shall unless repugnant to the context or meaning
thereof, shall include its successors and permitted assigns) of one part.
I, _____________________ son/ daughter/ wife of ______________________ resident of
____________________________ Distt.: ______________State:_______________, am eligible
to be engaged as service provider as per RBI’s/ Bank’s norms.
I declare / undertake that,
i. I have not been found / pronounced to be of unsound mind by any competent authority
and declared / adjudicated as insolvent by any competent court;
ii. I have not been found guilty of any criminal offence by any court of competent jurisdiction;
iii. I have not been found guilty of or to have knowingly participated in or connived at any
fraud, dishonesty or misrepresentation against a banker or an insured in the course of any
judicial proceeding relating to any bank or in the course of investigation of the affairs of a
Banker;
iv. I have not violated the code of conduct specified of any bank or declared a willful defaulter
by any bank or / financial institution.
v. I am willing to invest on fixed assets, Space for outlet and working capital required for day
to day operations.
vi. I am not a defaulter of any Co-operative Credit Society / Bank / any other financial
Institution.
vii. I am not an office bearer of any political / religious organizations.
viii. I am not owned or controlled by any director or officer / employee of the bank or their
relatives.
ix. I have knowledge of local area / people / socio-economic condition / language in the areas
of operation.
x. I have been duly informed of all the charges, costs and security deposits; both refundable
and non refundable, by the Company. I voluntarily agree to pay the same without any
duress or pressure.
xi. I shall voluntarily furnish the following charges and security deposits, if any, to the
company.
Purpose Amount Nature Remarks
1. Security Deposit Rs. NIL Refundable after discontinuation
of agency arrangement

2. Administrative expenses Rs. 100/- Non refundable Per Month

*Note: In case I decide to discontinue the Agency arrangement before expiry of one year, one third of my
above mentioned refundable security deposit shall be forfeited. (All charges is to be taken in form of DD
payable in favor of M/s Aimra Corporation Pvt. Limited payable at, New Delhi)

xi) I have read and understood RBI’s / Bank guidelines regarding Agent and the same is
acceptable and binding upon me.

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 xii) No right to employment in bank, or the company (M/s Aimra Corporation Pvt. Ltd)
shall accrue or arise by virtue of contractual assignment as Agent. I fully understand
and agree that the work being assigned to me is purely of contractual nature under
Principal and Agency arrangement. I shall not be entitled to claim permanent
absorption or any other claim or benefit against the Bank or the company.
xiii) I have been fully informed that I will ensure availability of adequate funds in my
settlement wallet and also cash in hand to carry out uninterrupted online banking
transactions at my sole cost, risk and responsibility.
xiv) I have been clearly informed and I am fully aware of the fact that it is neither the
responsibility of the Bank nor the Company (M/s Aimra Corporation Pvt. Ltd) to
provide or arrange the funds / cash for me for carrying out the customer transactions
from my location on behalf of the Bank.
xv) I am fully aware that security of cash handled by me from my location and while in
transit i.e. to and from any Bank Branch is my sole responsibility. I shall keep the
cash adequately insured and shall not hold the bank or the company responsible, in
any way, in case of any un-toward incident.
xvi) I am solely responsible to record the transactions of every cash deposit or transfer in
the company’s account for working capital limit in their virtual user ID and I shall
provide all necessary details of these transactions as may be required by
Bank/Company/Govt. Authorities/Tax department in the event of any illegal or
suspicious activities.
xvii) I have adequate means and capacity to handle the escalated level of activity and
customer transactions from my location. In case I am not able to meet out the
requirement of the Bank / customers the company has the unconditional right to
terminate my services by giving 30 days notice to improve the same. The decision of
the company shall be final and binding on me.
xviii) I have been fully informed of the commissions payable to me and have voluntarily
agreed that I will be paid the commission / cash handling charges as per the rate
decided by the Bank and after deduction of the charges and expenses of the
company.
xix) I have been fully informed that I will be required to maintain the required hardware at
my own cost. All hardware to be used by me will confirm to requisite specifications by
company.
xx) I undertake not to share the customer details with others and use it only for the
purpose of canvassing Bank business.

Signature of the Deponent

I hereby declare that all the information provided is correct to the best of my knowledge,
information and belief.

Date:
Place: Deponent signed before me
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