Terms and Conditions - Account Aggregator Framework

1. General Terms

1. These terms and conditions (“Terms”) contain important information regarding Zerodha Broking Limited, its affiliates and group companies (hereinafter collectively referred to as “Zerodha'', “our” or “us”), using the Account Aggregator framework (“AA”), as prescribed under the Non-Banking Financial Company (NBFC) - Account Aggregator (Reserve Bank) Directions, 2016 and other relevant laws, for various purposes outlined hereunder, in relation to You (the “Client”) and your information.
2. Anything not covered in these Terms shall be governed by the Zerodha Terms and Conditions.
3. Please note that the information contained herein is subject to change without notice. Please read this page carefully and retain it for future reference. You agree to any and all changes to the Terms without specific communication from Zerodha, by Your continuing usage of Zerodha platforms, and/or continuing to hold an account with Zerodha.

2. Partnerships

1. Zerodha is a Financial Information User (“FIU”) under the Account Aggregator framework. As of date, Zerodha has partnered with the following AAs:
   1. Perfios AA (Perfios Account Aggregation Services Pvt Ltd), and
   2. Onemoney AA (Fintech Products and Solutions India Pvt Ltd).
   We may enter into arrangements and agreements with additional AAs, for various purposes.
2. Zerodha is a member of Sahamati, a collective of Account Aggregator ecosystem participants.

3. Data Usage & Consent

As an FIU, Zerodha may utilize your data, received from AAs with your explicit consent, for the following purposes:

1. Verifying income details during account opening or segment activation processes, in compliance with regulatory requirements, and
2. For exploring additional use cases within the Account Aggregator framework as and when applicable to our services.

Zerodha shall use client data only to the extent permitted by the Account Aggregator framework and applicable law.

You, as a potential client or client of Zerodha, shall always retain the right to independently verify any information request received from an AA, when triggered by Zerodha. Consent for data sharing is to be provided at your discretion; however, declining consent may lead to certain services being unavailable to you as a Client, as Zerodha may not be able to verify or provide certain information without information from AAs.

Zerodha will retain client data obtained through the AA framework only for the duration necessary to fulfil the purpose. Upon completion of the purpose or as per applicable law, data will be securely deleted, in accordance with applicable law.

4. Responsibilities as an FIU

Zerodha, as an FIU, shall:

1. ensure that its systems are wholly interoperable and capable of working with every AA in the ecosystem;
2. set up and continue to operate its systems so that the FIU also functions as an FIP, when holding the types of data notified by RBI as eligible for transfer through an AA, in the Sahamati AA Ecosystem on the principle of reciprocity;
3. ensure that any data received from a Financial Information Provider (“FIP”) through an AA is only used for the express purpose mentioned in the consent artefact under which such data was requested;
4. not transfer, share or otherwise disclose any data collected from an FIP to any third party whatsoever except with your specific prior consent; Provided that FIUs, including Zerodha, may share data in an aggregated and anonymised form with contracted third parties and with due notice to any client that it is so sharing the data;
5. only retain any data received from an FIP for as long as is necessary for the FIU to fulfil the purpose for which such data was obtained and for no longer, save and except as required in order to comply with applicable laws; and
6. immediately notify the relevant AA about any consent revocation initiated by a cilent through the FIU and desist from further fetching of any data from an FIP through an AA using the consent so revoked by a client.