Terms & Conditions

1. Definitions and Interpretation

1.1 In these Terms and Conditions (“Terms”), the following words and expressions shall, unless the context otherwise requires, bear the meanings set out below. Defined terms apply equally to the singular and plural forms of the terms defined.

1.2 Interpretation

In these Terms, unless the context otherwise requires:

(a) reference to any of the words “include”, “including”, “for example”, “such as”, is not used as, nor it is to be interpreted as, a word of limitation and when introducing an example, does not limit the meaning of the word to which the example relates, to that example or examples of a similar kind;

(b) if a word or phrase is defined, parts of speech and other grammatical forms of that word or phrase shall have a corresponding meaning;

(c) The headings/captions of the clauses of these Terms are intended for convenience only and shall not in any way affect the meaning or construction of any provision therein;

2. Acceptance of Terms

2.1 These Terms constitute a legally binding agreement between you and IGM. By any one or more of the following acts, you unconditionally agree to be bound by these Terms, the Privacy Policy, and any additional policies published on the Platform, each of which is incorporated into these Terms by reference:

(a) downloading, installing, or accessing the App;

(b) accessing or browsing the Website;

(c) clicking “I Accept”, “Agree”, or any equivalent click-wrap acceptance mechanism;

(d) completing Account registration; or

(e) using or transacting on the Platform in any manner.

2.2 If you do not agree to these Terms, or any part of them, you must not access or use the Platform and must close your Account, if any, with immediate effect. Your continued use of the Platform after the effective date of any revised Terms constitutes your acceptance of the then-current version of these Terms.

2.3 These Terms constitute a valid electronic record under Section 4 of the IT Act and applicable Indian contract law. No physical or digital signature is required for these Terms to be binding.

2.4 These Terms are executed in the English language. IGM may, on request, make available translations of these Terms in other languages to the extent required under Applicable Law. In the event of any inconsistency or conflict between the English version and a translated version, the English version shall prevail.

2.5 These Terms may be accepted, and an Account may be created, opened, and operated, only by a natural person who satisfies the eligibility criteria set out in Clause 3. Any purported acceptance of these Terms by, or on behalf of, a minor or a person who does not have the legal capacity to contract under the Contract Act is void and shall not create any obligation on IGM.

3. Eligibility and Account Registration

3.1 Eligibility

3.1.1 To create an Account and avail RamMudra Services, you must, at all times:

(a) be at least 18 (eighteen) years of age;

(b) be a citizen and a resident of India, unless IGM has expressly enabled access for non-resident Indians or foreign nationals in compliance with the Foreign Exchange Management Act, 1999 and Applicable Law;

(c) hold a valid Indian mobile number capable of receiving OTPs;

(d) possess the legal capacity to enter into a binding contract under the Contract Act;

(e) not be an undischarged insolvent, and not hold an Account previously terminated by IGM for breach of these Terms;

(f) not be a person prohibited from transacting in gold under any Applicable Law, court order, regulatory direction, or sanctions list; and

(g) not be acting as a nominee, agent, or proxy for any undisclosed third party.

3.1.2 IGM may, on reasonable prior notice save where Applicable Law requires immediate effect, modify the eligibility criteria set out above and restrict access to specified Services for Users in particular states or jurisdictions where regulatory considerations so require.

3.1.3 Where you access or use the Platform on behalf of a business, firm, company, or other legal entity, you represent and warrant that you have the necessary authority to bind that entity to these Terms, and references to you in these Terms shall be construed as including that entity.

3.2 Account Registration

3.2.1 To register an Account, you must provide your valid Indian mobile number and complete OTP authentication. IGM may additionally require your name, email address, date of birth, and such other information as it may reasonably request.

3.2.2 A User may maintain only one Account, linked to a unique mobile number. The creation of duplicate or multiple Accounts by the same individual is prohibited. IGM may identify, merge, restrict, suspend, freeze, or terminate duplicate, linked, or suspected Accounts, reverse any promotional or erroneous benefit obtained through such Accounts, and require additional verification or KYC where fraud prevention, risk and compliance checks, operational integrity, or Applicable Law so requires.

3.2.3 You are solely responsible for maintaining the confidentiality and security of your Account credentials, OTPs, and device access, and must not share these with any third party. IGM shall not be liable for unauthorised transactions arising from your failure to safeguard your Account credentials.

3.2.4 By registering an Account, you consent to receive transactional, informational, and promotional communications from IGM by SMS, push notification, WhatsApp, or email. Promotional communications may be opted out of at any time through Account settings; transactional communications are integral to the operation of RamMudra Services and cannot be opted out of.

3.2.5 IGM employs device-based and behavioural anti-fraud controls, including device fingerprinting, velocity checks, and SIM-swap detection. You consent to IGM collecting and processing device identifiers for fraud-prevention purposes in accordance with the Privacy Policy.

3.2.6 You must notify IGM promptly of any change to your Account details, including registered mobile number, and complete any consequent re-verification. IGM shall not be liable for any loss arising from your failure to keep your contact details current.

3.2.7 By using the Platform, you represent and warrant that all information you provide to IGM (whether at the time of registration or thereafter) is true, accurate, current, and complete.

3.3 Account Suspension and Restriction

3.3.1 IGM may suspend, restrict, freeze, or terminate an Account in the circumstances, and subject to the process, described in Clause 17, including without prior notice where urgency or a legal obligation so requires.

3.3.2 During any suspension or restriction, the User's Account balance, transaction history, and Digital Gold holdings shall continue to be reflected in IGM's records, but may not be actionable by the User until the suspension or restriction is lifted or resolved.

4. Customer Due Diligence

4.1 Although IGM is currently not a reporting entity under AML laws, IGM may implement KYC, AML and other risk-based controls on a voluntary basis and may accordingly require your Permanent Account Number (PAN) or such other identity or transaction-related documents or information as it deems necessary, including but not limited to information required for compliance with Applicable Law.

4.2 IGM may verify such documents or information through measures as may be permitted under Applicable Law. By submitting your documents, you consent to such verification.

43 You represent and warrant that all information and documents submitted to IGM for KYC are true, complete, current, and authentic. IGM shall not be responsible for any consequence arising from your submission of false or misleading documents or information.

4.4 IGM may, and where required by Applicable Law shall, share your KYC or Account data and transaction information with law enforcement agencies, competent courts, and regulatory authorities.

4.5 You represent, warrant, and undertake, on a continuing basis, that:

(a) all funds used by you for gold purchases on the Platform are derived from legitimate and lawfully earned sources;

(b) you shall not engage in any transaction or series of transactions for the purpose of structuring, avoidance or circumvention of any Applicable Law, including anti-money laundering law;

(c) you are not a designated person under any applicable sanctions regime, including the UN Security Council Consolidated List, the OFAC SDN List, the EU Consolidated List, or any sanctions notification issued by the Government of India; and

(d) you will promptly notify IGM of any change in circumstances affecting your eligibility, or the accuracy of your KYC information.

4.6 If a User's name appears on a sanctions list, or IGM receives instructions from a competent authority, the relevant Account shall be frozen immediately and all pending transactions blocked, pending further direction from that authority.

4.7 Without prejudice to IGM's rights under these Terms, IGM may decline a transaction, suspend or freeze an Account, or terminate its relationship with a User where it reasonably suspects money laundering, terrorist financing, fraud, sanctions evasion, or any activity in breach of Applicable Law, without being obliged to disclose its reasons and without incurring liability to the User for having done so, save to the extent such action is later shown to have been taken otherwise than in good faith.

5. Purchase of Digital Gold

5.1 Advance Payment Purchase Model

5.1.1 RamMudra operates strictly on an advance payment basis. Every purchase of Digital Gold requires full payment in advance, through an approved electronic Payment Instrument. No credit, deferred payment, instalment, or cash-based purchase arrangement is available, unless IGM expressly offers one in writing.

5.1.2 Cash transactions are prohibited on the Platform. All payments must be made through Payment Instruments approved by IGM, which may include UPI, debit cards, credit cards, net banking, or pre-approved wallets. IGM may modify the list of accepted Payment Instruments from time to time.

5.2 Pricing and Quote Validity

5.2.1 The price of Digital Gold is market-linked and determined dynamically by the Pricing Engine, including based on prevailing wholesale gold prices, applicable premiums, and processing costs.

5.2.2 Gold prices are volatile. The price displayed when a transaction is initiated is a live quote valid for a limited period, as displayed on the Platform from time to time(the “Quote Window”). If payment is not completed and confirmed within the Quote Window, that quote shall lapse and a fresh quote shall be generated.

5.2.3 The price at which a purchase is confirmed is the price applicable at the time of successful payment confirmation, which may differ from the price displayed at initiation if the Quote Window has expired or payment was delayed. By placing a purchase order, you acknowledge and accept the market-linked and dynamic nature of gold pricing.

5.2.4 All prices displayed on the Platform, unless expressly stated otherwise, are exclusive of any applicable GST, which shall be solely borne by the User over and above the displayed purchase price. A tax invoice or GST receipt shall be made available to you on the Platform in respect of each purchase transaction.

5.3 Minimum and Maximum Purchase Limits

5.3.1 IGM may specify minimum and maximum purchase amounts per transaction, and per User per day and per month, which shall be displayed on the Platform.

5.3.2 These limits may vary depending on KYC / customer due diligence completion, Account tenure, and Applicable Law, and are subject to change at IGM's discretion, on reasonable prior notice save where immediate change is required by Applicable Law.

5.4 Order Placement and Acceptance

5.4.1 A purchase order is placed when you confirm the transaction on the Platform and initiate payment. A purchase order is accepted, and a binding contract of sale is formed, only upon:

(a) successful debit of funds from your Payment Instrument; and

(b) IGM's generation of a transaction confirmation and the crediting of the corresponding gram-weight of Digital Gold to your Account, representing equivalent, ascertainable physical gold held in custody in accordance with these Terms.

5.4.2 IGM may reject or cancel a purchase order, in whole or in part, for reasons including: (a) pricing errors; (b) payment failure; (c) fraud-detection alerts; (d) unmet KYC requirements; (e) technical or system failure; or (f) requirements of Applicable Law. Where payment has been debited in respect of a rejected order, IGM shall process a refund in accordance with Clause 13.

5.4.3 IGM may reverse, adjust, or recover any erroneous or unintended credit of Digital Gold, vouchers, cashback, rewards, monetary amounts, or other benefits arising from a technical, operational, payment, reconciliation, or system error, on notice to the affected User.

5.5 Failed Payments

5.5.1 If payment is initiated but not received by IGM within the processing cycle of the relevant payment gateway, the order shall stand cancelled and no Digital Gold shall be credited. IGM shall initiate a refund of any amount erroneously debited within 5–7 Business Days to the originating payment account.

5.5.2 IGM shall not be liable for a delay in refund caused by your bank, payment gateway, or Payment Instrument issuer. You may contact your bank if a refund is not received within 10 Business Days of IGM's initiation of the refund.

5.6 Purchase via Partner Channels

5.6.1 Digital Gold may also be purchased through partner marketplaces, API/SDK integrations, or offline partner channels authorised by IGM. Where a purchase is made through such a channel:

(a) the purchase is governed by these Terms, in addition to the terms of the relevant partner platform;

(b) the corresponding Digital Gold is credited to your RamMudra Account; and

(c) the partner platform remains solely responsible for its own platform operations, payment processing, and user experience.

6. Digital Gold Ownership, Custody and Storage

6.1 Title and Ownership

6.1.1 Each purchase by you of Digital Gold is a sale of goods under the Sale of Goods Act, 1930. On successful purchase and crediting of Digital Gold to your Account, you acquire title to the corresponding ascertained quantity of physical gold of the Gold Purity Standard, held in custody by the Custodian on your behalf and managed by the Administrator on your behalf, and deliverable to you in accordance with the conditions set out in these Terms. Each sell-back transaction is likewise an independent sale of goods under which title to the corresponding quantity of gold passes back to IGM against payment of the applicable buy-back price. No User's funds are accepted by IGM as a deposit, loan or other repayable financial accommodation. Notwithstanding anything to the contrary as set out in these Terms, IGM may offer incentives and rewards to Users by way of credit of additional units of Digital Gold against a purchase from time to time, free of cost to the User. Such incentive schemes and rewards shall be governed by terms as may be determined from time to time by IGM.

6.1.2 The physical gold underlying your Digital Gold is held by the Custodian and managed by the Administrator, subject to these Terms and the relevant arrangement. The Custodian holds such gold separately from its own assets, and such gold shall not form part of the estate of IGM or the Administrator or /Custodian on the insolvency or winding up of either.

6.1.3 Digital Gold does not confer on you:

(a) any right in or to a financial instrument;

(b) any interest, dividend, yield, or return beyond the spot market value of gold;

(c) any voting or corporate right in IGM; or

(d) any right to transfer, assign, pledge, hypothecate, or encumber Digital Gold, unless expressly enabled by IGM.

6.1.4 Upon the death of a User, IGM may permit the transmission of the deceased User’s Digital Gold holdings, redemption rights and Account balances to a nominee designated by the User or, where no valid nomination exists, to the deceased User’s legal heirs or authorised representatives, subject to submission of such documents, declarations, succession certificates, probate, letters of administration, indemnities, identity or KYC information and other evidence as IGM may reasonably require and conducting the required due diligence. Following such transmission, these Terms shall continue to apply to the recipient of such holdings and rights.

6.2 Custodian and Vaulting Arrangements

6.2.1 Physical gold corresponding to Users' Digital Gold holdings is procured from authorised Bullion Providers and held in secure, insured Vault facilities operated by, or under arrangements with, the Custodian.

6.2.2 The Custodian is responsible for the physical safekeeping, insurance, and security of gold held in the Vault. A summary of the custodial and insurance arrangements is available in Schedule II.

6.2.3 IGM shall procure, through its contractual arrangements with the Administrator and the Custodian, that the aggregate physical gold held in custody at all times equals or exceeds the aggregate Digital Gold holdings of all Users on the Platform. A summary of third-party audits or attestations shall be published on the Platform periodically.

6.3 Gold Purity and Standards

6.3.1 All gold credited as Digital Gold is of 999.9 fineness (24 karat), conforms to the Gold Purity Standard, and meets applicable standards of the Bureau of Indian Standards and/or the London Bullion Market Association, as further described in Schedule II.

6.4 Storage and Insurance

6.4.1 IGM provides complimentary storage of Digital Gold holdings for 60 months from the date of a User's first purchase, following which a storage fee as specified in Schedule I may apply.

6.4.2 Insurance against theft, damage, and loss in transit is maintained by the Custodian in respect of gold held in the Vault, for the collective benefit of the User pool. IGM does not guarantee that insurance proceeds in any specific amount will be available to any individual User.

6.4.3 Notwithstanding the existence of insurance arrangements, IGM does not guarantee that every loss event will be covered by insurance or that insurance proceeds will be available in any particular amount. Certain events, including war, terrorism, nuclear incidents, governmental action, civil unrest or other exclusions contained in the applicable insurance policy, may not be covered. To the extent permitted by Applicable Law, IGM shall not be liable for losses arising from uninsured events beyond its reasonable control.

6.5 Dormant Accounts

6.5.1 Before an Account is classified as Dormant, IGM shall send notifications to the User's registered mobile number and email address.

6.5.2 In respect of a Dormant Account, IGM may:

(a) restrict purchase and sale functionality while preserving the User's gold balance;

(b) apply the applicable storage charges under Schedule I; or

(c) initiate contact with the User to reactivate the Account.

6.5.3 Reactivation of a Dormant Account requires successful re-authentication and, where applicable, re-completion of customer due diligence, with which you are required to co-operate and provide such information as sought for by IGM, within the timelines as indicated by IGM. If the User fails to do so within such period, IGM may, to the extent permitted by Applicable Law and after such further notice as IGM considers reasonably appropriate, liquidate all or part of the User's Digital Gold at the prevailing buy-back price, deduct any applicable disclosed charges, taxes and costs, and remit or hold the net proceeds in accordance with Applicable Law or such other legally permissible process as may be notified to the User.

7. Blockchain-backed Recordkeeping

7.1 Nature of Blockchain Recordkeeping

7.1.1 IGM maintains the Blockchain Ledger as a supplementary technology layer for recording User ownership of Digital Gold, transaction history, and balance changes, designed to provide a tamper-resistant, distributed, and independently verifiable record of transactions conducted on the Platform.

7.1.2 The Blockchain Ledger is an internal or permissioned infrastructure tool used by IGM to enhance transparency and auditability. It does not create, represent, or imply:

(a) any cryptocurrency, or virtual digital asset as defined under the Income-tax Act, 2025 or referred to under any other Applicable Law;

(b) any speculative investment or asset class;

(c) any transferable, tradeable, or exchangeable digital instrument;

(d) any interest in a decentralised protocol, public blockchain, or peer-to-peer network;

(e) any right to blockchain private keys, cryptocurrency wallets, or custodial wallet arrangements; or

(f) any right independent of the underlying physical-gold interest represented by Digital Gold.

7.1.3 Users do not hold, own, or control any private key, blockchain address, wallet, or cryptographic credential. IGM, or its appointed technology provider, manages all blockchain infrastructure as part of the Platform infrastructure. The Blockchain Ledger is not a public blockchain.

7.2 Primacy of Records

7.2.1 If there is any inconsistency, discrepancy, or conflict between the Blockchain Ledger and (a) IGM's internal transaction management system, (b) the Administrator's records of gold holdings, (c) the Custodian's vault inventory records, or (d) payment gateway records, the authoritative and binding record shall be the Administrator's records as reconciled with IGM's internal systems.

7.2.2 IGM shall reconcile the Blockchain Ledger against the primary records at regular intervals. Where a discrepancy is identified, IGM shall resolve it by reference to the primary records, following reasonable investigation.

7.3 Immutability and Limitations

7.3.1 While blockchain technology is designed to be tamper-resistant, IGM does not warrant the absolute immutability of every Blockchain Ledger record. IGM may make an off-chain correction to the Blockchain Ledger in the following circumstances:

(a) detection of material fraud, forgery, or impersonation in a transaction;

(b) a transaction that was void ab initio, or is subsequently set aside by a court, tribunal, or regulatory authority;

(c) a systemic or technical error arising from a software defect, processing failure, or data corruption;

(d) a bona fide operational reversal or correction, such as a duplicate transaction, failed-payment reversal, or settlement error;

(e) a binding order, direction, or requisition of a competent court, law enforcement agency, financial intelligence unit, or regulatory body;

(f) compliance with Applicable Law obligations; or

(g) a Force Majeure Event affecting the blockchain infrastructure.

7.4 Legal Admissibility

7.4.1 IGM intends that Blockchain Ledger records, when printed or extracted, be admissible as evidence of transactions in consumer dispute resolution, internal audits, regulatory inspections, and litigation, subject to the applicable rules of evidence under Indian law, including the Bharatiya Sakshya Adhiniyam, 2023 and the IT Act.

7.4.2 IGM does not warrant that Blockchain Ledger records will be treated as conclusive evidence by every court or tribunal. The evidentiary weight of such records shall be determined by the relevant adjudicatory authority.

7.5 Downtime and Technical Interruptions

7.5.1 The Blockchain Ledger may experience downtime, outages, latency, data-propagation delay, or technical failure. During any such period, transactions shall continue to be recorded on IGM's internal systems, and Blockchain Ledger synchronisation shall resume once the technical issue is resolved.

7.5.2 IGM does not guarantee the uninterrupted availability of the Blockchain Ledger. Temporary unavailability of the Blockchain Ledger shall not affect the validity of a transaction that is confirmed on IGM's internal systems.

7.6 No Crypto-Asset Classification

7.6.1 Digital Gold recorded on the Blockchain Ledger is not, and shall not be construed as, a “virtual digital asset” as defined under Section 2(111) of the Income-tax Act, 2025, a cryptocurrency, a non-fungible token, a derivative, a collective investment scheme, a security, or a regulated financial product. It is merely a record to the title to the corresponding quantity of physical gold purchased by the User, held through custodial arrangements on the User's behalf.

7.6.2 Any tax, regulatory, or compliance treatment of blockchain-recorded gold ownership adopted by a competent authority or legislature after the date of these Terms shall apply to Users' holdings as required, and IGM shall update these Terms accordingly and in line with Clause 24.

8. Sale of Digital Gold and Cash Redemption

8.1 Selling Digital Gold

8.1.1 A User may sell Digital Gold holdings for cash settlement to a bank account or approved payment destination, subject to this Clause 8 and Clause 12. Each sell-back is a separate and independent sale of goods under which title to the gold passes back to IGM against payment of the applicable buy-back price.

8.1.2 Sale transactions are market-linked and quote-based. The price applicable to a sale is the live buy-back price generated by the Pricing Engine at the time of sale confirmation, which may differ from your original purchase price. Gold prices may fall as well as rise, and IGM makes no representation or guarantee as to the future value of gold or any particular sale price, yield, return, interest or appreciation.

8.2 Pricing and Settlement

8.2.1 The sale price is determined by the Pricing Engine and reflects the prevailing wholesale buy-back price of gold: (a) net of the charges set out in Schedule I; and (b) unless expressly stated otherwise, exclusive of any applicable GST, which shall be solely borne by the User over and above the displayed sale price. Applicable making charges, convenience charges, or the bid-ask spread shall be disclosed before confirmation of the sale.

8.2.2 Sale proceeds shall be credited to the eligible bank account or payment destination within the timeline displayed on the Platform, subject to: (a) successful completion of any required bank account verification; (b) the absence of any AML or fraud flag on the transaction; and (c) bank processing timelines outside IGM's control.

8.2.3 The minimum sale amount and the maximum sale amount per transaction and per day, will be as specified on the Platform.

8.3 Tax Deduction at Source

8.3.1 Proceeds from the sale of Digital Gold may be subject to tax deduction at source in accordance with Applicable Law. IGM reserves the right to deduct any applicable withholding taxes in accordance with Applicable Law on any payments made by IGM to the User (including in relation to sale of Digital Gold by the User to IGM), and any payments made after deducting such applicable withholding taxes shall constitute full and final settlement of the payments under these Terms.

8.3.2 Users remain solely responsible for their own tax obligations, including any capital gains tax liability.

9. Redemption into Physical Gold Coins

9.1 Eligibility for Physical Redemption

9.1.1 A User may request redemption into Physical Gold Coins of an available denomination (for example, 1g, 2g, 5g, or 10g, or such other denominations as are available on the Platform from time to time).

9.1.2 Redemption is subject to the availability of Physical Gold Coins of the requested denomination. IGM may specify blackout periods for redemption during periods of high demand, system maintenance, or supply constraints, and shall notify Users of any such period through the Platform.

9.1.3 Images shown on the Platform are illustrative. Packaging, serial numbers and artwork may vary.

9.2 Process and Charges

9.2.1 On a redemption request being placed, the corresponding gram-weight of Digital Gold shall be debited from your Account and the corresponding Physical Gold Coin shall be dispatched for delivery. The redemption is subject to:

(a) a making/minting charge as specified in Schedule I;

(b) delivery and logistics charges as specified in Schedule I; and

(c) applicable GST on making and delivery services.

9.2.2 All charges payable for a physical redemption shall be disclosed to you before confirmation of the redemption request and shall be debited from your registered payment method or deducted from redemption proceeds, as applicable.

9.2.3 Physical Gold Coins comply with the Gold Purity Standard. Coin specifications are set out in Schedule II.

9.2.4 Delivery timelines, shipping terms, insurance, and related matters are governed by Clause11.

9.2.5 IGM may reject, suspend or defer any redemption request that does not comply with these Terms, Applicable Law, applicable operational requirements or any verification (including identity verification), KYC, fraud-prevention or due diligence requirements prescribed by IGM.

10. Direct Purchase of Physical Gold Coins

10.1 Product Listing

Physical Gold Coins offered for direct purchase through the Platform will be described by denomination, weight, purity, design, packaging, applicable hallmark/certification, price and other material characteristics. Product images are illustrative and packaging, serial numbers and design elements may vary.

10.2 Order Placement and Acceptance

An order placed by you constitutes an offer to purchase the selected Physical Gold Coin at the price displayed at the time of order. An order shall be deemed accepted only upon confirmation by IGM and successful receipt of payment. IGM reserves the right to reject or cancel an order where the product is unavailable, payment is unsuccessful, pricing or listing information is erroneous, fraud or compliance concerns arise, or for any other legitimate operational or legal reason.

10.3 Pricing

The price payable for a Physical Gold Coin shall be the total price displayed at checkout, including the applicable gold value, minting or manufacturing charges, delivery charges and other mandatory charges, as separately disclosed. Unless expressly stated otherwise, such displayed purchase price shall be exclusive of any applicable GST, which shall be solely borne by the User over and above displayed price. Prices may change at any time before order acceptance. In the event of an inadvertent pricing or listing error, IGM may cancel the affected order and refund the amount paid.

10.4 Cancellation

Once an order for a Physical Gold Coin is placed on the Platform and successfully confirmed, it cannot be cancelled, modified, or revoked by you under any circumstances. You acknowledge and agree that all orders for Physical Gold Coins are final and binding upon placement. Any refund arising from cancellation by IGM in accordance with these Terms shall be processed in accordance with Clause 13 and the applicable refund terms displayed on the Platform.

10.5 Refunds

Where an order for a Physical Gold Coin is cancelled or cannot be fulfilled by IGM, the amount paid for such order shall be refunded to the original Payment Instrument, subject to applicable law and the terms displayed at checkout. Refunds arising from defective, damaged, incorrect or non-delivered products shall be processed in accordance with Clause 11, Clause 13.

10.6 Product Declarations

Physical Gold Coins shall be offered, packaged and labelled in accordance with Applicable Laws. Product information required to be disclosed under Applicable Law may be provided on the product packaging, product page, invoice or other legally permissible means.

10.7 Other Terms

10.7.1 IGM shall issue an invoice for each completed purchase of Physical Gold Coins in accordance with Applicable Law. The invoice may be provided electronically to the email address or other contact details associated with your Account.

10.7.2 Delivery of Physical Gold Coins purchased directly through the Platform shall be subject to the delivery, address verification, insurance, failed-delivery and logistics provisions set out in Clause 11, to the extent applicable.

10.7.3 Until confirmed delivery, loss or damage during transit shall remain the responsibility of IGM and/or the Logistics Partner, subject to the applicable insurance arrangements.

10.7.4 Title to a Physical Gold Coin purchased directly through the Platform shall pass to the User upon successful receipt of payment and acceptance of the order by IGM.

10.7.5 IGM reserves the right to cancel an order where the price displayed on the Platform is materially incorrect due to a technical, typographical or other error. Where payment has already been received, IGM shall refund the amount paid for the cancelled order.

10.7.6 Product availability is subject to stock availability. IGM may cancel an order where the selected product is unavailable and shall refund amounts received for such cancelled order. IGM shall not substitute a product without the User's consent, except where an equivalent substitution is expressly permitted at checkout.

10.7.7 You may designate a third-party recipient for delivery, provided you have the authority to provide such person's information and the recipient satisfies IGM's delivery verification requirements.

10.7.8 Physical Gold Coins may be purchased only through approved electronic Payment Instruments. Cash-on-delivery and cash payments are not permitted.

11. Physical Gold Coin Delivery

11.1 Delivery Arrangements

11.1.1 Physical Gold Coins shall be dispatched by IGM, through the Logistics Partner, to the delivery address registered in your Account. You are responsible for providing an accurate and complete delivery address.

11.1.2 Estimated delivery timelines from the date of dispatch confirmation, subject to the Logistics Partner's serviceability in your area and any Force Majeure Event, are displayed [on the Platform from time to time]/[your order confirmation].

11.1.3 IGM shall provide a shipment tracking number through the Platform on dispatch.

11.2 Delivery Conditions

11.2.1 Delivery of Physical Gold Coins is subject to:

(a) valid ID proof for recipient verification at the point of delivery, whether OTP-based or document-based;

(b) the delivery address being within the Logistics Partner's serviceable area at the time the order was placed;

(c) settlement of all applicable charges; and

(d) such enhanced verification, including further KYC, address verification, or identity confirmation, as IGM may require having regard to transaction value, fraud risk, Logistics Partner requirements, Applicable Law, or internal risk controls.

11.2.2 In-transit insurance for Physical Gold Coins is maintained by IGM or the Logistics Partner up to the point of delivery. Risk in the Physical Gold Coin passes to the User on confirmed delivery.

11.3 Failed Delivery

11.3.1 If delivery fails owing to (a) recipient unavailability after 3 delivery attempts, (b) an incorrect address, (c) refusal to accept delivery, or (d) failure to provide the required ID, the shipment shall be returned to IGM.

11.3.2 On return of an undelivered shipment to IGM:

(a) the Physical Gold Coin shall be returned to the Vault;

(b) in the case of a Digital Gold redemption, the corresponding gram-weight of Digital Gold shall be credited back to your Account; and in the case of a direct Physical Gold Coin purchase, the amount paid shall be refunded to the original Payment Instrument, in each case after deduction of any applicable re-stocking and return logistics charges specified in Schedule I; and

(c) you may place a fresh delivery request, which shall incur fresh delivery charges.

11.4 Damage in Transit

11.4.1 If a Physical Gold Coin is damaged in transit, you must document the damage by photograph and report it to IGM within 48 hours of receipt. IGM shall investigate the claim in coordination with the Logistics Partner and insurer, and a replacement or credit may be provided subject to the outcome of the insurance claim.

11.5 Return Policy

11.5.1 Unless specifically permitted under these Terms, once delivered, a Physical Gold Coin is not returnable for a refund, including on grounds of change of mind or market movement. Returns are accepted only where there is (a) demonstrable damage in transit, or (b) delivery of an incorrect product (which shall also be notified to IGM within the time period as set out in 12.4.1). IGM shall assess the claim based on the available evidence, including photographs, delivery records, packaging condition and logistics records, and shall process the claim in accordance with the applicable return/refund policy and Applicable Law.

12. Fees, Charges and Taxes

12.1 Fees Schedule

12.1.1 The fees and charges applicable to RamMudra Services are set out in Schedule I and on the Platform's fee-disclosure page.

12.1.2 All fees are, unless expressly stated otherwise, exclusive of any applicable GST, which shall be solely borne by the User over and above the agreed fees. GST shall be charged at the applicable rate and itemised on your invoice.

12.1.3 IGM may revise its fees and charges by giving not less than 30days' prior notice through the Platform, an App notification, or your registered contact details. Your continued use of RamMudra Services after notice of a fee revision constitutes your acceptance of the revised fees.

12.2 Taxes

12.2.1 Transactions on the Platform may attract applicable taxes, including GST, income tax, tax deducted at source (TDS), or other taxes under Applicable Law. You remain solely responsible for your own tax obligations.

12.2.2 IGM shall provide tax documents, invoices, and TDS certificates as required by law. IGM does not provide tax advice, and you should consult your own tax advisor.

12.2.3 All payments to IGM in respect of transactions on the Platform are, unless expressly stated otherwise, exclusive of any applicable GST, which shall be solely borne by the User over and above the displayed price.

12.2.4 If the User is required to withhold tax under Applicable Law on amounts payable to IGM under these Terms, the user shall gross-up the amounts such that IGM receives the full amount that would otherwise have been payable had no such deduction or withholding been required under Applicable Law.

12.2.5 IGM reserves the right to deduct any applicable withholding taxes in accordance with Applicable Law on any payments made by IGM to the User (including in relation to sale of Digital Gold by the User to IGM), and any payments made after deducting such applicable withholding taxes shall constitute full and final settlement of the payments under these Terms.

12.2.6 The parties agree to cooperate with each other in relation to any applicable taxes and will provide each other with any relevant tax information as reasonably requested, such as a tax certificate issued by Indian tax authorities or other document evidencing the deposit of taxes withheld under Applicable Law.

13. Payments, Settlement and Bank Controls

13.1 Accepted Payment Methods

13.1.1 All payments on the Platform must be made through an approved Payment Instrument listed on the Platform at the time of the transaction. IGM may add, remove, or restrict payment methods at any time.

13.2 Bank Account Verification and Redemption Controls

13.2.1 Unless expressly permitted otherwise sale proceeds and redemption amounts may only be credited to the same bank account, UPI ID, or Payment Instrument registered under your Account or from which the original purchase was made. This restriction is applied as a fraud-prevention measure. IGM may conduct penny-drop or other account verification relating to the User before approving a bank account for remitting any amounts to it.

13.2.2 IGM may temporarily withhold, delay, or redirect sale proceeds where:

(a) a fraud flag or AML alert has been raised on the transaction;

(b) the destination bank account cannot be verified;

(c) a court order, regulatory direction, or law-enforcement requirement has been received or IGMA is otherwise required to do so by Applicable Law; or

(d) the transaction is under review pending completion of KYC.

13.2.3 Penny-drop verification involves a nominal test credit to your account for verification purposes. You consent to this process and shall promptly confirm the verification on the Platform.

13.3 Refund Policy

13.3.1 A refund in respect of a failed or rejected transaction shall be credited to the originating Payment Instrument within 5–7 Business Days or such longer period as may be required for the relevant banks and payment intermediaries to process the transactions.

13.3.2 For a dispute regarding a refund, you may contact IGM's support team, and, where the dispute remains unresolved, escalate the matter to IGM's Nodal Officer, in accordance with Clause 23.

14. Partner and Third-party Services

14.1 IGM engages or may engage third-party service providers to deliver RamMudra Services, Bullion Providers, Administrator, Custodians, vaulting companies, Logistics Partners, payment aggregators or gateways, banks, KYC and identity verification providers, technology and cloud service providers, API and SDK partners, marketplaces, and other service providers as may be required for the operation of the Platform.

14.2 IGM uses reasonable efforts to select reputable and compliant partners. IGM shall not be liable for the acts, omissions, delays, errors, or failures of a third-party partner that are beyond IGM's reasonable control, except to the extent that IGM's negligence in the selection or oversight of that partner contributed to the relevant failure. IGM may appoint, replace or discontinue any partner or service provider from time to time without prior notice, provided such change does not adversely affect the User's ownership of Digital Gold.

14.3 Links to, or integrations with, third-party websites, apps, or marketplaces on the Platform are provided for convenience only. IGM does not endorse any third-party platform and is not responsible for its content, accuracy, or conduct.

14.4 Where you accessed RamMudra Services through a third-party partner (for example, a marketplace or API partner) that has its own terms and conditions, those terms apply in addition to these Terms in respect of that partner's platform. If there is a conflict between those terms and these Terms, these Terms shall prevail.

15. Prohibited Conduct

15.1 You must not, in connection with the Platform:

(a) provide false, misleading, or incomplete information during registration, KYC, or any transaction;

(b) impersonate any person or entity, or misrepresent your affiliation with any organisation;

(c) structure transactions to circumvent any Applicable Law;

(d) use the Platform for money laundering, the financing of terrorism, fraud, or any other unlawful purpose;

(e) create multiple Accounts for the same individual, or use another person's identity or Payment Instrument without authorisation;

(f) use an automated script, bot, crawler, or other non-human means to access or interact with the Platform without IGM's prior written authorisation;

(g) upload or transmit malware, a virus, or code designed to interfere with the operation of the Platform;

(h) harass, threaten, or abuse IGM's employees or agents, or other Users;

(i) reproduce, distribute, or commercially exploit Platform content, data, or Intellectual Property without IGM's consent;

(j) engage in wash trading, circular transactions, or artificial price manipulation;

(k) facilitate a transaction on behalf of a sanctioned or blacklisted entity; or

(l) abuse a promotional offer, referral programme, or bonus otherwise than in accordance with its terms.

(m) use the Platform in a manner intended to, or which may reasonably be expected to, damage, disable, overburden or impair the Platform or any IGM systems, networks or infrastructure, or circumvent any rate limits, usage caps, throttling or other technical controls; or

(n) hold out, represent, communicate, publish or market the Digital Gold, or any Platform record of your Digital Gold holding, as a deposit, investment product, security, derivative, virtual digital asset, cryptocurrency, non-fungible token, electronic gold receipt, collective investment scheme or any other regulated financial product, or as yielding any guaranteed or indicative return.

15.2 IGM may take immediate action, including suspension or termination of an Account and reporting to law enforcement, on detecting conduct prohibited under Clause 15.1. IGM shall not be liable for a loss incurred by a User as a result of enforcement action taken in good faith against such conduct.

16. License to Use

16.1 Subject to your continued compliance with these Terms, IGM grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to download, install, and use the Platform and any accompanying documentation on a compatible device solely for your personal use ("License"), and strictly in accordance with any specified usage restrictions as may be communicated by IGM from time to time.

16.2 You shall not use the Platform for any purpose other than as expressly authorised by these Terms. The License does not confer any right, title or interest in or to the Platform, or any Intellectual Property Rights therein, other than as expressly set out in these Terms.

16.3 In connection with your access to and use of the Platform, you agree to comply with Applicable Law and these Terms.

16.4 Except to the extent permitted by Applicable Law, you shall not, and shall not permit or authorise any third party to:

1. copy, reproduce, modify, adapt, translate, create derivative works of, distribute, publish, license, sell, rent, lease, loan, or otherwise transfer any part of the Platform;

2. “frame”, “mirror”, or otherwise incorporate any part of the Platform into any other website, application, or service without IGM’s prior written authorisation;

3. make any back-up or archival copies of the Platform or any part thereof;

4. modify, decompile, disassemble, reverse engineer, tamper with, or otherwise attempt to derive the source code or working mechanism of the Platform or the Blockchain Ledger infrastructure;

5. use the Platform for any harmful, unlawful, fraudulent, deceptive, or misleading purpose;

6. circumvent, disable, tamper with or otherwise interfere with any security, authentication, digital rights management, licensing, calibration, verification, or usage-limitation feature of the Platform;

7. remove, obscure, alter, or falsify any proprietary notice, trademark, watermark, disclaimer, digital signature or attribution on or within the Platform;

8. access, monitor, or copy any information from the Platform by using data mining tools, robots, spiders, scrapers or any other similar automated data-gathering or extraction tools;

9. use the Platform in a manner that is intended to, or may reasonably be expected to, damage, disable, overburden or impair the Platform or any IGM systems, networks, or infrastructure;

10. use the Platform to develop, train, benchmark, or improve any competing product, service, model, or algorithm;

11. use the Platform in any manner that may impair the functionality or availability of the App for other Users;

12. interfere with, disrupt, or attempt to gain unauthorised access to any part of the Platform, IGM’s servers, networks, or systems, or any connected network, or the accounts of other Users;

13. impersonate any person or entity, or misrepresent your identity, affiliation, or authority;

14. bypass, disable, remove, or circumvent any security features, licensing controls, or protection mechanisms embedded in or protecting the Platform;

15. engage in excessive, abusive, or automated usage that degrades system performance or circumvents any implemented rate limits, usage caps, throttling, or other technical controls on access to the Platform to maintain system performance and security;

16. use the Platform in a manner that violates any Applicable Law; or

17. host display, upload, modify, publish, transmit, store, update or share any information that:

    1. belongs to another person and to which the user does not have any right;

    2. is obscene, pornographic, paedophilic, invasive of another’s privacy including bodily privacy, insulting or harassing on the basis of gender, racially or ethnically objectionable, relating or encouraging money laundering or gambling, or an online game that causes user harm, or promoting enmity between different groups on the grounds of religion or caste with the intent to incite violence;

    3. is harmful to children;

    4. infringes any patent, trademark, copyright or other proprietary rights;

    5. deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any misinformation or information which is patently false and untrue or misleading in nature or, in respect of any business of the Central Government, is identified as fake or false or misleading by a fact check unit of the Central Government;

    6. impersonates another person;

    7. threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognisable offence, or prevents investigation of any offence, or is insulting other nation;

    8. contains software virus or any other computer code, file or program designed to interrupt, destroy or limit the functionality of any computer resource;

    9. is in the nature of an online game that is not verified as a permissible online game;

    10. is in the nature of advertisement or surrogate advertisement or promotion of an online game that is not a permissible online game, or of any online gaming intermediary offering such an online game;

    11. violates any law for the time being in force; or

    12. is synthetically generated information, including any such content/information that violates these Terms and any Applicable Law.

16.5 All rights not expressly granted to you under these Terms are reserved to IGM and its licensors.

16.6 A breach of this Clause 16 shall constitute a material breach of these Terms and a breach of IGM's Intellectual Property Rights and may result in, without limitation, immediate suspension or termination of your Account and licence in accordance with Clause 17, notification to relevant authorities where required under Applicable Law, and appropriate civil or criminal action by IGM including recovery of losses, damages, costs and expenses in accordance with Clause 21 and its rights under Applicable Law.

17. Term, Suspension, Restriction and Termination

17.1 Term

17.1.1 These Terms shall come into force upon your first acceptance of these Terms in accordance with Clause 2 and shall continue in force for so long as you use the Platform or maintain an Account, unless terminated earlier in accordance with this Clause 17.

17.2 Suspension and Restriction by IGM

17.2.1 IGM may, with or without prior notice as the circumstances require, suspend, restrict, or freeze a User's Account where:

(a) there is reasonable suspicion of fraud, identity theft, unauthorised access, or misrepresentation;

(b) an AML red flag or suspicious transaction pattern has been detected;

(c) the User's name appears on a government, regulatory, or international sanctions list or blacklist;

(d) the User has failed to complete KYC within the required timeline;

(e) IGM has received a court order, regulatory direction, or law-enforcement direction;

(f) the User is in breach of any provision of these Terms or Applicable Law;

(g) a chargeback, payment dispute, or payment fraud has occurred;

(h) the Account has been reported as compromised; or

(i) a regulatory requirement or direction compels restriction of the Account.

17.2.2 During a suspension, the User's gold balance shall be preserved, and the User shall not be permitted to buy, sell, or redeem Digital Gold. IGM may provide or withhold notice of the suspension to the extent permitted by the circumstances and by Applicable Law.

17.3 Termination by IGM

17.3.1 IGM may terminate an Account with prior written notice where:

(a) IGM discontinues RamMudra Services or ceases business; or

(b) continuation of the Account would create a regulatory or legal risk for IGM.

17.3.2 Without prejudice to any other rights available to IGM under these Terms or Applicable Law, if IGM ceases to provide the RamMudra Services, discontinues any part of its business, becomes subject to any insolvency, restructuring, administration, liquidation, winding-up or similar proceeding, or if any regulatory, legal, operational or commercial circumstance arises that materially affects IGM's ability to provide the RamMudra Services, IGM may:

(a) suspend, restrict, modify, transfer or discontinue any part of the RamMudra Services;

(b) require Users to provide updated KYC information, delivery instructions, redemption instructions, bank account details or such other information as IGM may reasonably require; and

(c) subject to Applicable Law and the applicable trust, custodial and contractual arrangements, take such actions as it reasonably considers necessary to facilitate the redemption, delivery, transfer, sale or settlement of Users' Digital Gold holdings, including recovering reasonable storage, insurance, logistics, minting, administrative, verification, or custodian costs from amounts otherwise payable to the User or from the corresponding Digital Gold holdings.

17.3.3 IGM may terminate an Account immediately, with or without notice, where:

(a) the User is in breach of these Terms or Applicable Law; or

(b) a court or regulatory authority directs termination

17.3.4 On termination, an outstanding gold balance shall be addressed as follows: (a) where the User has completed identity verification or KYC (as may be deemed necessary by IGM), IGM may sell the outstanding Digital Gold at the prevailing market price and credit the proceeds to the User's verified bank account; or (b) as otherwise directed by a competent authority or required by Applicable Law.

17.4 Voluntary Account Closure by User

17.4.1 You may request closure of your Account at any time through Account settings or by contacting support. Before closure, all outstanding Digital Gold must be sold or redeemed. An unresolved balance shall be settled in accordance with Clause 17.3.4.

18. Intellectual Property

18.1 The Platform and all Intellectual Property Rights therein and thereto are and shall remain the exclusive property of IGM and/or its licensors, including without limitation all software, source code, object code, APIs, SDKs, algorithms, the Pricing Engine, the Blockchain Ledger infrastructure, data models, databases, documentation, reports, research, website design, graphics, user interface, logos, trademarks (including the “RamMudra” name and brand), service marks, domain names, trade dress, confidential information, know-how, and proprietary technology.

18.2 If you provide IGM with any Feedback relating to the Platform or the RamMudra Services, you hereby assign to IGM, on a perpetual, irrevocable, worldwide, royalty-free basis, all rights, title and interest in and to such Feedback (including all Intellectual Property Rights therein), and IGM shall be free to use, exploit and commercialise such Feedback without any restriction, attribution, or payment to you. To the extent any such assignment is restricted or ineffective under Applicable Law, you hereby grant IGM a perpetual, irrevocable, worldwide, royalty-free, sub-licensable licence to the Feedback. Notwithstanding anything contained in the Copyright Act, 1957, such assigned or licensed rights, as applicable, shall not lapse even if not exercised for a period of one year.

19. Privacy, Data Protection and Consent

19.1 Your use of the Platform, and IGM's collection, use, storage, disclosure, transfer and other processing of your data and personal data in connection with your use of the Platform, is governed by IGM's Privacy Policy (available at [Privacy Policy — RamMudra](https://rammudra.com/privacy-policy.html)), which is incorporated into these Terms by reference. By accepting these Terms, you acknowledge that you have read the Privacy Policy and consent to the processing of your personal data in accordance with it.

19.2 The Platform may present separate consent notices at the time of account creation or when specific processing activities are initiated. Your acceptance of such consent notices shall constitute your consent for the purposes described therein, in addition to your acceptance of these Terms and the Privacy Policy.

20. Limitation of Liability and Disclaimers

20.1 No Investment Advice

20.1.1 RamMudra Services facilitate the purchase, storage, and redemption of physical gold. Nothing on the Platform constitutes financial, investment, tax, or legal advice. Gold prices are volatile, and past prices are not indicative of future performance. You make each purchase and sale decision at your own risk.

20.2 Platform Provided “As Is”

20.2.1 The Platform and RamMudra Services are provided on an “as is” and “as available” basis. IGM gives no warranty, express or implied, including as to merchantability, fitness for a particular purpose, uninterrupted availability, error-free operation, or the accuracy of pricing data, save as required by Applicable Law.

20.3 Specific Disclaimers

20.3.1 Subject to Clause 20.4, IGM shall not be liable for:

(a) loss of value of Digital Gold due to market movement or gold-price volatility;

(b) a delay or failure in payment processing by a bank, payment gateway, or UPI network;

(c) technology downtime, system maintenance, network outage, or Platform unavailability, including downtime of the Blockchain Ledger;

(d) a failure, error, or delay caused by the Custodian, the Administrator, a Logistics Partner, or any other third-party partner;

(e) a delay in physical delivery caused by a Logistics Partner or courier network;

(f) an act, omission, or representation of a ;

(g) a cybersecurity incident, data breach, hacking, or phishing attack not attributable to IGM's gross negligence or wilful misconduct;

(h) a loss arising from your failure to safeguard your Account credentials or devices;

(i) a consequence arising from incorrect information provided by you; or

(j) a Force Majeure Event, as described in Clause 22.

(k) the temporary suspension of purchase, sale or redemption services arising from market disruption, bullion market closure, pricing unavailability or regulatory intervention.

(l) the difference in prices available on the Platform and the prices quoted by any third party, jeweller or bullion dealer.

(m) for any corruption, loss or deletion of your data or information arising from the use of the Platform due to factors outside IGM’s control.

20.4 Cap on Liability

20.4.1 Neither party shall be liable to the other for any remote, indirect, incidental, special, consequential, punitive or exemplary loss or damage arising out of, or in connection with, these Terms (including loss of revenue, loss of profits, loss of goodwill, loss of opportunity, loss of anticipated savings or loss of data), even if that party has been advised of the possibility of such loss or damage. For the avoidance of doubt, this Clause 20.4.1 shall not apply to Clause 21 (Indemnification).

20.4.2 Subject to Clause 20.4.3, and to the maximum extent permitted by Applicable Law, IGM's aggregate liability to you under or in connection with these Terms, whether in contract, tort (including negligence), under statute or otherwise, shall not exceed the total transaction value of the specific transaction(s) giving rise to the relevant claim.

20.4.3 IGM shall not be liable for an indirect, incidental, special, punitive, consequential, or speculative loss, including loss of profit, loss of goodwill, loss of opportunity, or loss of data.

21. Indemnification

21.1 Notwithstanding anything to the contrary under these Terms, the User shall indemnify, defend and hold harmless IGM, its affiliates (including their respective directors, officers, employees, and agents) (together, the "Indemnified Party") from and against all losses, liabilities, damages, costs, expenses (including reasonable legal fees), claims (including third-party claims), demands, actions, proceedings, fines, penalties and other liabilities suffered or incurred by the Indemnified Party arising out of, or in connection with:

(a) your breach of any provision of these Terms or your violation of any Applicable Law;

(b) any false, misleading, incomplete or fraudulent information or document provided by you (including during KYC);

(c) any claim by a third party (including a tax authority, or regulator) arising out of, or in connection with, your access to or use of the Platform or the RamMudra Services;

(d) any unauthorised use of your Account;

(e) infringement of any Intellectual Property Rights of IGM or of any third party by any content material;

(f) any false representation or communication by you, including to any third party; or

(g) any content created or submitted by you in relation to IGM.

22. Force Majeure

22.1 A “Force Majeure Event” means any event or circumstance beyond the reasonable control of the affected party which prevents, restricts, or delays the performance by that party of any of its obligations under these Terms, including acts of God, fire, explosion, cyclone, floods, earthquake, storm, war (whether declared or undeclared), civil unrest, terrorism, blockage, embargo, strikes or industrial action (not involving the affected party’s own workforce), failure of utilities or telecommunications, bullion supply disruption, and any law, order, demand, or requirement of any governmental, or statutory authority, which restricts the movement of manpower, machinery or goods, or results in expropriation, compulsory acquisition, or requisition of any facility, equipment, or goods of either party relevant to these Terms. For avoidance of doubt, it is clarified that Force Majeure Event does not include: (a) insufficiency of funds or inability to pay amounts due; or (b) any event caused by the negligent or intentional acts, errors, or omissions of the affected party. In case of a Force Majeure Event, the affected party shall be excused from performance of those obligations for so long as, and to the extent that, performance is prevented, restricted or delayed by the Force Majeure Event, and shall use reasonable efforts to mitigate the effects of the Force Majeure Event. It is clarified that obligations not affected by the Force Majeure Event shall continue in full force and shall not be excused.

23. Dispute Resolution, Governing Law and Jurisdiction

23.1 Grievance Redressal

23.1.1 If you have a complaint or dispute regarding the RamMudra Services, you should first contact IGM's customer support at: Email – [email protected]; In-App – Support/Help Centre. IGM shall acknowledge a complaint within 2 Business Days and use reasonable efforts to resolve it within 7 Business Days.

23.1.2 If your complaint is not resolved to your satisfaction within [30] Business Days, you may escalate it at Email – [email protected]; Address – FT Tower, CTS No. 256 & 257, Suren Road, Chakala, Andheri (E), Mumbai-400 093 INDIA, India.

23.2 Arbitration

23.2.1 The parties shall use good-faith efforts to resolve any dispute, controversy, or claim arising out of, or in connection with, these Terms through negotiation between authorised representatives. If a dispute is not resolved within 30 (thirty) days of one party giving the other written notice of the dispute, the dispute shall, subject to Clause 23.1 and Clause 23.2.3 and Applicable Law, be referred to and finally resolved by arbitration under the Arbitration and Conciliation Act, 1996, as amended from time to time.

23.2.2 The arbitration shall be:

(a) conducted by a sole arbitrator mutually appointed by the parties; if the parties do not agree on an arbitrator within [30] days of notice invoking arbitration, the arbitrator shall be appointed in accordance with Section 11 of the Arbitration and Conciliation Act, 1996;

(b) seated at, and the arbitral award rendered in, Mumbai, Maharashtra, India, which shall also be the exclusive venue of the arbitral proceedings;

(c) conducted in the English language; and

(d) governed, as to procedure, by the Arbitration and Conciliation Act, 1996, and, as to the substantive law of the dispute, by the laws of India.

23.2.3 This arbitration clause does not prevent either party from seeking urgent interim relief from a court of competent jurisdiction, pending constitution of the arbitral tribunal.

23.3 Governing Law and Jurisdiction

23.3.1 These Terms shall be governed by and construed in accordance with the laws of India. Subject to Clause 23.2, the courts of Mumbai, Maharashtra shall have exclusive jurisdiction over a dispute arising out of, or in connection with, these Terms.

24. Amendments to these Terms

24.1 IGM may amend, modify, update, or replace these Terms at any time. A material change shall be communicated to Users through one or more of: an in-App notification; an SMS or email to the User's registered contact details; or a prominent notice on the Platform.

24.2 For a material change other than one required for immediate legal or regulatory compliance, IGM shall give not less than 30 days' notice before the revised Terms take effect. Where a change is required by law or regulatory direction, the revised Terms shall take effect immediately, or on the date specified in that direction.

24.3 Your continued use of the Platform after the effective date of the revised Terms constitutes your acceptance of the revised Terms. If you do not agree to a revised Terms, you must stop using the Platform and close your Account before the effective date.

24.4 The current version of these Terms is available at all times at www.igimindia.com and in the Platform legal section.

25. Miscellaneous

25.1 Entire Agreement. These Terms, together with the Privacy Policy and all policies incorporated by reference, constitute the entire agreement between you and IGM regarding your use of the Platform, and supersede all prior agreements, representations, and understandings on that subject matter.

25.2 Severability. If a provision of these Terms is held invalid, unlawful, or unenforceable, that provision shall be modified to the minimum extent necessary to make it enforceable, or, if such modification is not possible, shall be severed, and the remainder of these Terms shall continue in full force and effect.

25.3 Waiver. IGM's failure to enforce a right or provision under these Terms shall not constitute a waiver of that right or provision. No waiver shall be effective unless made in writing and signed by an authorised representative of IGM.

25.4 Assignment and Novation. You shall not assign, novate, transfer or otherwise dispose of any of your rights or obligations under these Terms without the prior written consent of IGM. IGM may assign, novate or transfer its rights or obligations under these Terms, in whole or in part, to its affiliates or to a successor entity or acquirer, with prior written intimation to you.

25.5 Notices. All notices and other communications from IGM to you shall be in writing and may be given through the Platform, an in-App notification, SMS, email to your registered email address or courier to your registered address. All notices from you to IGM shall be in writing and sent by hand delivery, certified mail (return receipt requested), recognised overnight courier (delivery receipt requested) or email to: IGM, Address – FT Tower, CTS No. 256 & 257, Suren Road, Chakala, Andheri (East), Mumbai – 400 093, India; Attention – Legal Head; Email – [email protected]. A notice shall be deemed to have been given: (i) if delivered by hand or courier, on the date of delivery; (ii) if sent by certified mail, on the date of receipt as verified by the return receipt; and (iii) if sent by email, on the date of transmission, as verified by electronic log or read receipt. If a notice is required to be given on or by a day which is not a Business Day, it shall be deemed to have been given on the next Business Day.

25.6 Language. These Terms are drafted, and shall be construed, in English. A translation into another language is provided for convenience only; the English version shall prevail.

25.7 Relationship. Nothing in these Terms creates a partnership, joint venture, agency, franchise, or employment relationship between you and IGM.

25.8 Survival. Clauses 4 (Customer Due Diligence), 7 (Blockchain-Backed Recordkeeping), 12 (Fees, Charges and Taxes), 15 (Prohibited Conduct), 15 (License to Use), 17 (Term, Suspension, Restriction and Termination), 18 (Intellectual Property), 19 (Privacy, Data Protection and Consent), 20 (Limitation of Liability and Disclaimers), 21 (Indemnification), 23 (Dispute Resolution, Governing Law and Jurisdiction) and this Clause 25, together with any other provision which by its nature is intended to survive, shall survive the termination or expiry of these Terms.

25.9 Regulatory Compliance. IGM may take any action necessary to comply with a law, regulation, court order, or regulatory direction, including disclosing User information, restricting Services, or discontinuing the Platform, without incurring liability to you for having done so.

Schedule I: Fees and Charges Schedule

The fees listed below are indicative and subject to change. The fee applicable at the time of a transaction is always displayed on the Platform before that transaction is confirmed.

Note: IGM may waive, reduce, or enhance a fee at its discretion as part of a promotional or operational decision, and shall notify Users of a fee change through the Platform.

Schedule II: Gold Purity and Storage Standards

A. Gold Purity

(a) All Digital Gold represents physical gold of 999.9 fineness (24 karat).

(b) Gold is sourced from India Good Delivery/LBMA Good Delivery-accredited and/or BIS-certified refiners.

(c) Gold bars held in the Vault conform to industry-standard weight tolerances.

B. Storage and Vaulting

(a) Gold is stored in secure, alarmed, and monitored Vault facilities operated by the Custodian.

(b) Vaults are located at Mumbai, India, or such other location as the Custodian may designate.

(c) Vault facilities are insured against theft, burglary, and physical damage.

(d) The Custodian maintains segregated records of gold held on behalf of RamMudra Users.

(e) Independent reconciliation and audit of vault inventory is conducted.

C. Administrator Arrangements

(a) Gold holdings are overseen and managed by the Administrator under a registered agreement for the benefit of Users.

(b) The Administrator is appointed by IGM under the applicable arrangements.

(c) The arrangement ring-fences Users' gold from IGM's corporate assets.

D. Audit and Transparency

(a) A summary of the results of periodic vault audits is available on request.

(b) A User may access their transaction history and Blockchain Ledger records from their Account at any time.

(c) IGM may publish proof-of-reserve reports, reconciliation summaries, or similar transparency reports from time to time.

Declaration

By clicking “I Accept” or otherwise using the RamMudra Platform, you acknowledge, represent and confirm that:

(a) you have read and understood these Terms in full;

(b) you are at least 18 years of age and legally competent to enter into this agreement;

(c) you agree to be legally bound by these Terms and all policies incorporated into them;

(d) you consent to the processing of your personal data in accordance with the Privacy Policy; and

(e) you have not been unduly influenced, coerced, or misled in accepting these Terms.

(f) where you access or use the Platform on behalf of a business, firm, company, or other legal entity, you have the necessary authority to bind that entity to these Terms, and references to you in these Terms shall be construed as including that entity.

End of Terms and Conditions

India Gold Metaverse Limited. All Rights Reserved.