1.1). Company has developed and solely owns a mobile personal finance software application called Loan Dost” (“App”, which expression shall include all versions through future releases of the App). Company makes the App available for download and use on mobile phones to clients (“Clients”). Downloading and installing the App shall be deemed to constitute sufficient proof that Clients have read, understood and accepted this Policy.
2). Personal Information
2.1). “Personal Information” means the Transaction Information as defined in the Terms of Service and includes information which includes data, text, images, sound, voice, codes being collected from device of Client with consent or any other information provided by customer while applying for a loan. Without limitation, Transaction Information includes:
2.1.1).Location of Client: We fetch & store Client's location details in our servers to validate Client's presence in India. We also fetch & store Client's location on regular intervals and we use this information if Client goes missing & not rechable after availing a loan.
2.1.2).Contact/Phonebook Information of Client: We fetch and upload & store Client's contact/Phonebook information to our servers in order to prevent frauds. Contact/phonebook information will also be used in case Client goes missing & not reachable after availing a loan. This information will not be shared with any third parties
2.1.3).Camera & Media Access of Client: To capture Client's profile image and to capture images of KYC documents, and to capture video during psychometric test.The captured images will be uploaded and stored in Loan Dost servers. Profile image and KYC images will be shared for CKYC with CERSAI (An Indian Govt authority for KYC)
2.1.4).Device Information of Client: We fetch & upload/store Client's device information to our servers in order to link Client's device to Loan Dost account. We also upload & store other installed apps data for fraud prevention & risk analysis, we also check/store if your device has a front camera. This information will not be shared with any third parties
2.1.5).Email Address of Client: To verify Client's Gmail ID without sending verification link or OTP. We also upload and store Gmail ID in our servers. Gmail ID will be used for any official or legal communication with Client. Your Email ID will be shared with Indian Govt. authorised credit bureaus
2.1.6).Information related to the transaction in question including identity of the service or product and the price or fee paid or payable in respect thereof
3). Purpose of Collection and Use of Personal Information
3.1). Company may collect, store, access and use Personal Information solely to the extent required for Company to enable Clients to utilize the features of the App and to provide better user experience to Clients and for accessing credibility of customers for the purpose of Loan Dost. Personal information can also be used by Company in case Client is not rechable and goes missing, and for risk analysis
4). Usage of Google Advertising ID
4.1). As per the terms of Google Play Services, the Company shall use the Google advertising ID when available on a device, only for advertising and user analytics purposes. The Company may share this ID with advertising partners only for the purpose of advertising.
4.2). The Company shall not connect the advertising ID to any personally-identifiable information without the explicit consent of Clients. The Company shall abide by reset and “Opt out of Interest-based Advertising” settings of Clients.
5). Sharing of Personal Information with Third Parties
5.1). Company shall not publish, sell, give on rent, trade or otherwise transfer Personal Information to third parties, except as may be required by law, or pursuant to the order of a court or regulatory authority, or in order for Company to enforce its rights, or expressly permitted by clients/customers or as expressly stated by this Policy. In the event Company needs to share Personal Information with third parties, Company shall enter into non-disclosure agreements or equivalent covenants that are, at the least, as protective as the provisions of this Policy.
6.1). Company reasonably presumes that Clients who make available Personal Information to Company are doing so out of their own volition. Company does not compel Clients to disclose Personal Information. At any time, Clients may opt not to provide Personal Information by uninstalling the App.
7). Correctness and Integrity of Personal Information
7.1). Company accesses Personal Information as aforesaid on an ‘as is’ basis. Therefore, Company shall not be responsible in any way for the correctness, completeness and integrity of any Personal Information collected hereunder.
8.1). Company shall take all reasonable precautions by way of using current industry standard encryption technologies to protect Personal Information from loss, misuse and unauthorized access, disclosure, alteration and destruction.
9). Limit of Liability
9.1). Notwithstanding anything to the contrary in this Policy or any other terms of service or use applicable as between Company and Clients, Company’s aggregate liability hereunder shall be limited to Rs.1,000/- (Rupees One Thousand Only) and shall not extend to any indirect or remote damages whatsoever, including but not limited to special, incidental, consequential, or punitive damages or loss of profits.
10.1). For any inquiries and complaints, the following email address may be used: email@example.com. All inquiries and complaints shall be looked into promptly and without charging any fee to the inquirer / complainant.
11.1). Company shall always cooperate with regulatory authorities and investigating agencies in India in the matter of treatment of Personal Information.
12.1). Company may modify this Policy in its sole discretion at any time. While Company shall make best efforts to notify Clients of any such modification, it shall be Clients’ responsibility to read and understand the Policy as prevalent from time to time. Installation of the App shall be deemed to constitute acceptance of the Policy as amended.
13). Governing Law and Dispute Resolution
13.1). This Policy shall be governed by and construed in accordance with the laws of India. The courts at New Delhi, India shall have exclusive jurisdiction in relation to any disputes arising out of or in connection with this Policy.