This privacy policy (“Policy”) has been drafted in accordance with the Information Technology Act, 2000 and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011.
Infocredit Services Private Limited (hereinafter “CreditVidya” “Us”, “Our” “We”, which shall mean and include its affiliates, successors and assigns) facilitates the provision of financial products to various customers through financial institutions who have partnered with CreditVidya (“Service”).
THIS POLICY DESCRIBES OUR POLICIES AND PROCEDURES FOR COLLECTION, USE, STORAGE, PROCESSING, DISCLOSURE AND PROTECTION OF ANY INFORMATION, INCLUDING, BUT NOT LIMITED TO, BUSINESS OR PERSONAL INFORMATION PROVIDED BY YOU AS A USER (HEREINAFTER REFERRED TO AS “YOU” “YOUR” or “USER”) WHILE AVAILING THE SERVICES. USER SHALL MEAN ANY PERSON/ PERSONS, WHO AVAILS THE SERVICES OF CREDITVIDYA.
THIS POLICY CONSTITUTES A LEGAL AGREEMENT BETWEEN YOU, AS THE USER AND CREDITVIDYA. YOU MUST BE A NATURAL PERSON, CITIZEN OF INDIA, WHO IS ATLEAST 18 YEARS OF AGE AND ELIGIBLE TO ENTER INTO A BINDING CONTRACT UNDER THE INDIAN CONTRACT ACT, 1872.
BY AVAILING THE SERVICES AND VOLUNTARILY PROVIDING US WITH INFORMATION (PERSONAL AND/ OR NON-PERSONAL), YOU ARE CONSENTING TO OUR USE OF IT IN ACCORDANCE WITH THIS POLICY. IF YOU DO NOT AGREE WITH THE TERMS AND CONDITIONS OF THIS POLICY, PLEASE DO NOT PROCEED FURTHER TO AVAIL THE SERVICES.
USE OF YOUR INFORMATION BY US FOR PROVISION OF SERVICES WILL BE GOVERNED BY THIS POLICY TOGETHER WITH ALL POLICIES, NOTICES, GUIDELINES, DISCLAIMERS THAT ARE SHARED WITH YOU FROM TIME TO TIME AND SUCH OTHER TERMS AS MAY BE APPLICABLE TO YOU IN YOUR CAPACITY AS A USER. THIS POLICY SHALL BE ENFORCEABLE AGAINST YOU IN THE SAME MANNER AS ANY OTHER WRITTEN AGREEMENT.
WE MAY UPDATE THIS POLICY FROM TIME TO TIME. YOU MUST PERIODICALLY REVIEW THE POLICY FOR THE LATEST INFORMATION ON OUR PRIVACY PRACTICES.
We provide Services and to this end, we collect personal information from you through our on-boarded affiliates (“Partners”) who will interact with you for the collection of this information. The Partners will collect information from you and will transfer it to us for the purpose of provision of the Services. We shall further transfer the information collected from you to the financial institutions partnered with us for provision of financial products (“Lending Partners”).
This information is shared/uploaded by you, should you choose to share it with CreditVidya for the purpose of availing Services.
This information comprises of details pertaining to your name, parentage, marital status, nationality, state of residence, city of residence, email address, date of birth, gender, contact number/mobile number, demographic information, recent photograph, signature image, and other Know Your Customer (KYC) documents [address proof, identity proof, income proof, Permanent Account Number or such other officially valid documents/details (OVDs)] accepted for concluding a financial transaction.
Information as described under this Clause shall collectively be referred to as “Information”.
2.1 CreditVidya processes the Information for the following purposes:
2.2 You hereby understand that when you apply for a loan on our Partner’s platform, CreditVidya may check your records amongst other things with its own records, any information as available to CreditVidya through any of its sources, those at credit reference agencies (CRAs); those at fraud prevention agencies (FPAs) for assessing your credit worthiness, verifying identity to prevent and detect crime and money laundering. CreditVidya also has the right, and obligation, to report your details to CRAs in the event that you have delayed in repaying your loan instalment.
CreditVidya will not sell or rent your Information to anyone, for any reason, at any time. However, we will be sharing your Information with our affiliates and business partners including credit information companies, where we feel that you will be assisted better for the purpose of underwriting and approval of your credit card, loan or any other financial product transaction/related transaction or for doing an aggregate check of your credit profile on your behalf.
3.2 Our third-party partners are under an obligation under the contract executed with us to maintain confidentiality of your information and not transfer such information without our prior consent. By availing the Services, you authorize CreditVidya to send texts and email alerts to you and any other service requirements, including promotional mails and SMSs.
3.3 Further, it enables CreditVidya to:
For availing the Service such as applying for a loan, credit card or any other financial product we will collect details such as a your name, parentage, email address, nationality, address, mobile number, PAN, recent photograph, other Know Your Customer (KYC) documents like address proof, identity proof and to participate on our forum boards, a username (collectively the "Registration Information") from our Partners.
3.4 We may also use third party service providers to provide the Service to you, such as sending e-mail messages on our behalf or hosting and operating a particular feature or functionality of the Service. Our contracts with these third parties outline the appropriate use and handling of your Information and prohibit them from using any of your Information for purposes unrelated to the product or service they're providing. We require such third parties to maintain the confidentiality of the Information provided to them.
3.5 We further use your Information for the following purposes:
4.1 We store and process your data only in India. Our data center and systems also maintain backup and disaster recovery systems in India. We are hosted on Virtual Private Cloud on Amazon Webservices (Mumbai Region) which provides a secure and scalable technology platform.
4.2 We are an ISO 27001 Certified organization and have Information Security Management System framework in place that ensures up-to-date physical security, such as secure areas in offices; electronic safeguards, such as passwords, firewalls, and encryption; and secure development procedures. Access control systems are in place. Our safety and security processes are audited by a third-party cyber security audit agency from time to time.
4.3 CreditVidya algorithms identify the Personally Identifiable Information (PII) fields at the source itself and do not collect this information or mask it before collection wherever PII data is not needed. In the scenarios where PII data collection is mandatory, we encrypt the data with the latest security algorithms before transmitting the data. All such data is encrypted sat rest.
4.4 Information you and our partners provide and receive during the services is transmitted through a secure sockets layer (SSL) transmission. We encrypt and store PII data wherever it is possible. No data is shared with any third party unless until it is a core feature to serve the end-user, in all such scenarios the user consent is taken.
4.5 We restrict access to your personal information only to those employees who are required to know such information in order provide our services to you. We train our employees on all our security procedures, and we conduct audits to check compliance.
4.6 No security measures can provide absolute protection of data, but we will strive to protect your information. If you are a security enthusiast and have found a possible security vulnerability on our products, we encourage you to report the issue to us responsibly. You can reach out to us at security@creditvidya.com.
We provide our registered customers with periodic emailers and email/SMS alerts. We also allow users to subscribe to email newsletters and from time to time may transmit emails promoting CreditVidya or third-party products. Subject to the express consent clause above, Service subscribers may opt-out of receiving our promotional emails and terminate their newsletter subscriptions by following the instructions in the emails. Opting out in this manner will not end transmission of service-related emails/SMS, such as email/SMS alerts. The above services are also provided by our partners.
We have taken every effort to ensure that this Policy adheres with the applicable laws. The invalidity or unenforceability of any part of this Policy shall not prejudice or affect the validity or enforceability of the remainder of this Policy. This Policy shall be inapplicable to any unsolicited information You provide Us through this Platform or through any other means. All unsolicited information shall be deemed to be non-confidential and the Company shall be free to use and/ or disclose such unsolicited information without any limitations.
This Policy shall be governed by and construed in accordance with the laws of the Republic of India. The courts at Hyderabad, India shall have exclusive jurisdiction in relation to any disputes arising out of or in connection with this Policy.
The rights and remedies available under this Policy may be exercised as often as necessary and are cumulative and not exclusive of rights or remedies provided by law. It may be waived only in writing. Delay in exercising or non-exercise of any such right or remedy does not constitute a waiver of that right or remedy, or any other right or remedy.
If you require any information or clarification regarding the use of your personal information or this Privacy Policy, you can contact us at loans@creditvidya.com
If you have grievance with respect to use of your personal information, please write to us at loans@creditvidya.com
CreditVidya is a company based in India. By availing the Services, you hereby acknowledge that CreditVidya is not responsible or liable in any manner to comply with any local laws of our territory except India.