Privacy Policy
THIS PRIVACY POLICY SETS FORTH THE MODES OF ACCESS, COLLECTION, USE AND SHARING OF THE DATA GATHERED ON THIS MOBILE APPLICATION Bitsyyloan (HERE WRITTEN AS PLATFORM). THIS PRIVACY POLICY APPLIES ONLY TO DATA COLLECTED ON THE PLATFORM. THIS PRIVACY POLICY DOES NOT APPLY TO INFORMATION COLLECTED BY THE COMPANY IN OTHER WAYS, INCLUDING INFORMATION COLLECTED OFFLINE. PLEASE READ THIS PRIVACY POLICY CAREFULLY. BY CONTINUING TO USE THE SERVICES, OR ACCESS THE PLATFORM YOU AGREE TO THIS PRIVACY POLICY. IF YOU DO NOT AGREE TO THIS PRIVACY POLICY, YOU MAY NOT AVAIL THE SERVICES.
INTRODUCTION
We, Decredito Fintech Pvt. Ltd. (Company; We; us; our) have developed a mobile application called Bitsyyloan (Application/ App) through which you may apply for a short term loan (Loan) to be granted by (which is a Public incorporated on 14 August 1996 having its registered office at - Plot - 3A, S/F (above Central Bank of India) Sarhaul, Opp.-HIPA Sector-18, Gurugram, HR 122001 IN here stated as LENDER) , based on the loan agreement executed between you and LENDER(here ). LENDER has appointed and authorized Decredito Fintech Pvt. Ltd. to collect, store, authenticate , verify and distribute the Personal Information (defined below) as may be required by LENDER to sanction the Loan. The Personal Information shall be collected through the mobile application form (Mobile Application Form) available on the Application.
We are committed to protect your privacy and have made this Privacy Policy to describe the procedures we adhere to for collecting, using, and disclosing the Personal Information. We recommend you to read this Privacy Policy carefully so that you understand our approach towards the use of your Personal Information.
Personal and Sensitive Data Access, Collection , Use and Sharing
User Personal Information
In order to avail the Services, you are required to register with the Company by logging into our Mobile application(named as Bitsyyloan ) and make an account. During the application process, you need to enter your mobile number post that you need to enter and verify OTP( One time password )sent on same mobile number. Users are required to enter certain personal information like data required for Know Your Customer compliances(adhar number), data from Credit Information Companies( Pan card number), Email ID, 2 Reference numbers(relatives or friends ), Photo Selfie for ID verification, Bank Account details to credit the loan amount, Upload Bank Statement, Sign E-mandate and agreement. The data entered above by the user along with the accessed data from Credit Information Companies and from Know Your Customer compliances companies is saved on Bitsyyloan servers. You undertake that you shall be solely responsible for the accuracy and truthfulness of the Personal Information you share with us till the event that your obligations to pay the Outstanding Amount(s) to LENDER, exist. Deletion, uninstallation, and/or discontinuation of our Services, shall not release you from the responsibility, obligation and liability to repay the Outstanding Amount(s). The data collected above is used for assessment of your loan eligibility and risk involved. Bitsyyloan never publicly disclose any personal and sensitive user data related to financial or payment activities or any government identification numbers.
Contacts
Our app requires this permission to detect References mobile numbers which are already saved in your mobile contacts and you can select & fill the references contact data during your loan application process for seamless user journey. Also, we transfer your contacts through secured apis and save your contacts on Bitsyyloan servers which includes name and phone numbers to enrich and verify your financial profile. Most of the time we come around applications which switch off the number with which they have applied for the loan so this also helps us to assess your risk profile as well authenticity of application and to determine your loan eligibility. This data will be stored safely and securely in Bitsyyloan servers till your loan is closed. We do not share this data with any third party, only Bitsyyloan employees will have limited and secured access to it only in case of late repayment to discuss the situation with you and your references. Bitsyyloan does not publish or disclose your contact data.
Photos and Media
We require Photos and Media access so that you can easily upload documents like bank statements and save time by allowing us to auto-fill relevant data to initiate the verification process. This ensures that you are provided with a seamless experience. This data is sent as an input to third party API's with secured methods and we store its response to check the authenticity of your uploaded documents. This data will only be stored safely and securely in Bitsyyloan servers till your loan is closed, only Bitsyyloan employees will have limited and secured access to it during the verification process
Camera
We need camera access to take your selfie from the front cam and upload it in the verification API to check authenticity of your government IDs which you have uploaded during the loan application process. This data is sent as an input to third party API's with secured methods and Bitsyyloan stores its response to check the authenticity of your documents. This data will only be stored safely and securely in Bitsyyloan servers till your loan is closed, only Bitsyyloan employees will have limited and secured access to it.
DISCLOSURES
We do not sell, rent, lease your Personal Information to anybody and will never do so. Keeping this in mind, we may disclose your Personal Information in the following cases:
Administrators: We shall provide access to your Personal information to our authorized administrative(s) for internal business purposes, who shall be under confidentiality obligations towards the same. Business Partners: We may use certain trusted third party companies and individuals to help us provide, analyse, and improve the Services including but not limited to data storage, maintenance services, database management, credit bureaus, rating agencies, web analytics, payment processing, and improvement of the Platform’s features. These third parties may have access to your information only for purposes of performing these tasks on our behalf and under obligations similar to those in this Privacy Policy. We may disclose your Personal Information to partners who perform business functions or hosting services on our behalf and who may be located outside India. Service Providers: We may share your Personal Information with the service providers, including LENDER, who are working with us in connection with the operation of the Services or the Platform, so long as such service providers are subject to confidentiality restrictions consistent with this Privacy Policy. Persons Who Acquire Our Assets or Business: If we sell or transfer any of our business or assets, certain Personal Information may be a part of that sale or transfer. In the event of such a sale or transfer, we will notify you. Legal and Regulatory Authorities: We may be required to disclose your Personal Information due to legal or regulatory requirements. In such instances, we reserve the right to disclose your Personal Information as required in order to comply with our legal obligations, including but not limited to complying with court orders, warrants, or discovery requests. We may also disclose your Personal Information(a) to law enforcement officers or others; (b) to Credit Information Companies; (c) to comply with a judicial proceeding, court order, or legal process served on us or the Platform; (d) to enforce or apply this Privacy Policy or the Terms of Service or our other policies or Agreements; (e) for an insolvency proceeding involving all or part of the business or asset to which the information pertains; (f) respond to claims that any Personal Information violates the rights of third-parties; (g) or protect the rights, property, or personal safety of the Company, or the general public. You agree and acknowledge that we may not inform you prior to or after disclosures made according to this section.
Notwithstanding anything mentioned hereinabove, the Company shall not be responsible for the actions or omissions of the service providers or parties with whom the Personal Information is shared, nor shall the Company be responsible and/or liable for any additional information you may choose to provide directly to any service provider or any third party.
DATA RETENTION
We will retain your Personal Information for as long as your registration with us is valid and the Outstanding Amount(s) is due and payable to LENDER. We may also retain and use your Personal Information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. Subject to this section, we will try to delete your Personal Information upon reasonable written request for the same. Please note, however, that there might be latency in deleting Personal Information from our servers and backed-up versions might exist even after deletion.
SECURITY
We value your Personal Information, and protect it on the Platform against loss, misuse or alteration by taking extensive security measures. In order to protect your Personal Information, we have implemented adequate technology and will update these measures as new technology becomes available, as appropriate. All Personal Information is securely stored on a secure cloud setup in encrypted formats and all communication happens via bank-grade secure SSL communication channels. The Personal Information is stored on Google cloud. Although we provide appropriate firewalls and protections, we cannot warrant the security of any Personal Information transmitted as our systems are not hack proof. Data pilferage due to unauthorized hacking, virus attacks, technical issues is possible and we take no liabilities or responsibilities for it.
You are responsible for all actions that take place under your User Account. If you choose to share your User Account details and password or any Personal Information with third parties, you are solely responsible for the same. If you lose control of your User Account, you may lose substantial control over your Personal Information and may be subject to legally binding actions.
ACCESSING AND MODIFYING PERSONAL INFORMATION
In case you need to access, review, and/or make changes to the Personal Information, you shall have to login to your User Account and change the requisite details. You shall keep your Personal Information updated to help us better serve you.
ANCILLARY SERVICES
We may provide you with certain ancillary services such as chat rooms, blogs and reviews for the Services. Subject to any applicable laws, any communication shared by you via the Platform or through the blogs, reviews or otherwise to us (including without limitation contents, images, audio, financial information, feedback etc. collectively Feedback) is on a non-confidential basis, and we are under no obligation to refrain from reproducing, publishing or otherwise using it in any way or for any purpose. You shall be responsible for the content and information contained in any Feedback shared by you through the Platform or otherwise to us, including without limitation for its truthfulness and accuracy. Sharing your Feedback with us, constitutes an assignment to us of all worldwide rights, titles and interests in all copyrights and other intellectual property rights in the Feedback and you authorize us to use the Feedback for any purpose, which we may deem fit.
GOVERNING STATUTE
This Privacy Policy is governed by and is compliant with the Information Technology( Reasonable Security Practices and Procedures and Sensitive Personal Data or Information)Rules 2011, which is designed to protect Personal Information of the End-User(s) of the Services; and other applicable rules and regulations related to privacy.
COOKIES
We may set cookies to track your use of the Platform. Cookies are small encrypted files that a site or its service provider transfers to your device’s hard drive that enables the sites or service provider’s systems to recognize your device and capture and remember certain information. By using the Application, you signify your consent to our use of cookies.
COMMUNICATIONS FROM THE PLATFORM
Service Announcements: On certain occasions or under law, we are required to send out Service or Platform related announcements. We respect your privacy, however you may not opt-out of these communications. These communications would not be promotional in nature. Customer Service: We communicate with Customer(s) on a regular basis to provide requested services and in regards to issues relating to their User Account, we reply via email or phone, based on Customer(s) requirements and convenience
INDEMNIFICATION
You agree to indemnify us, our subsidiaries, affiliates, officers, agents, co-branders or other partners, and employees and hold us harmless from and against any claims and demand, including reasonable attorneys fees, made by any third party arising out of or relating to:
Personal Information and contents that you submit or share through the Platform your violation of this Privacy Policy, or your violation of rights of another Customer(s)
LIMITATIONS OF LIABILITY
You expressly understand and agree that the Company shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data, information, details or other intangible losses (even if the Company has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the Services; (ii) unauthorized access to or alteration of your Personal Information.
GOVERNING LAWS AND DUTIES
You expressly understand and agree that the Company, including its directors, officers, employees, representatives or the service provider, shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if the Company has been advised of the possibility of such damages), resulting from; (a) use or the inability to avail the Services (b) inability to use the Platform (c) failure or delay in providing the Services or access to the Platform (d) any performance or non-performance by the Company (e) any damages to or viruses that may infect your electronic devices or other property as the result of your access to the Platform or your downloading of any content from the Platform and (f) server failure or otherwise or in any way relating to the Services.
FORCE MAJEURE
This Agreement shall be construed and governed by the laws of India and courts of law at Gurugram, Haryana India shall have exclusive jurisdiction over such disputes without regard to principles of conflict of laws
CHANGES TO THIS POLICY
We may update this Privacy Policy without notice to you. You are encouraged to check this Privacy Policy on a regular basis to be aware of the changes made to it. Continued use of the Services and access to the Platform shall be deemed to be your acceptance of this Privacy Policy. .
This Privacy Policy was last modified on October 20, 2021
CONTACT US
If you have questions, concerns or grievances regarding this Privacy Policy, you can contact the developer by any means stated below, find the developer contact information below
Registered Office Address - Plot - 3A, S/F (above Central Bank of India) Sarhaul, Opp.-HIPA Sector-18, Gurugram, HR 122001 IN
Website - www.bitsyyloan .com
Email - grievance@bitsyyloan.com
