Privacy Policy
Bitrocket Labs Private Limited is a company incorporated under the Companies Act, 2013 having its registered office address at No.112, AKR Tech Park, B Block, 7th Mile Hosur Rd, Krishna Reddy Industrial Area, Bommanahalli (Bangalore), Bangalore South, Karnataka, India, 560068 (hereinafter referred to as "Company” which expression shall, unless it be repugnant to the context thereof, be deemed to include permitted successors and assigns). The Company is providing credit management services and facilitates the Customers with better credit and loan services.
We recognize the importance of privacy confidentiality and security of the personal information of our Customers and this Privacy policy explains our intent and ensures the best and safe experience for our Customers. As used herein, “Customers” shall mean anyone who uses or accesses the Company Services /Designated Platform on any mobile phone, tablet, console, or other device (hereinafter collectively referred to as “Device/platform”).
You are encouraged to read this Privacy Policy regarding the collection, use, and disclosure of your information from time to time to keep yourself updated with the changes & updates that are made to this Policy. The Privacy Policy covers the products and services provided on the App. This Policy shall, at all times be read and construed in consonance and along with the terms and conditions of use and access of the App Platform (“T&C”).
This Privacy Policy is published in accordance with the provisions of the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data of Information) Rules, 2011 under the Information Technology Act, 2000, and other applicable laws that provide rules, regulations, and guidelines on access, collection, usage, disclosure, transfer or otherwise processing of personal information and sensitive personal information. This Policy highlights inter alia the type of data shared/collected from a Customer in the course of the Customer’s usage of the Platform.
By accessing or using any version of the designated platforms, you signify that you have read, understood, and agreed to be bound by this Privacy Policy of the Company and any other applicable law. This Policy forms an electronic contract within the provisions of the Information Technology Act, 2000 (“IT Act”), the rules made thereunder and the amended provisions pertaining to electronic documents/records in various statutes as amended by the IT Act, from time to time. We do not knowingly solicit or collect personal information from children under the age of 18. Use of the platform is available only for persons capable of forming a legally binding contract under the Indian Contract Act, of 1872. If you are providing any information about a minor under the age of 18, you represent that you are legally authorized to do so. This Policy does not require any physical, electronic, or digital signature.
The terms “We”/ “Us”/ “Our” individually and collectively refer to and are synonymous with the term ‘the Company’ and the terms “You”/“Your”/ “Yourself” are to be construed to be synonymous with the term ‘Customer’.
All defined terms used within this Policy but not specifically defined herein shall draw their meaning from the definition ascribed to such term under the T&C.
COLLECTION OF INFORMATION
Personal information and other information:
Name of the Customer;
National ID proof with photo (including PAN Card or such similar ID proofs);
Father’s Name;
Phone number (mobile and/or residence and/or alternative) of the Customer;
Gender of the Customer;
Date of birth of the Customer;
Address (official/residence/other) of the Customer;
Email ID (primary/alternative) of the Customer;
Internet protocol (IP) address of the Customer;
Marital Status;
Income type and status (Organization name if salaried employee or details of Business if self-employed);
Device information;
Credit Score, Customer credit information report from government-regulated credit bureaus (Eg. Experian), payment information, and financial information, which may be shared/ uploaded by you, as and when you avail any products and/or services from the Company and/or through the Company’s partner platforms which the Company may become privy to.
Security precautions:
We are committed to providing a secure and seamless experience to the Customer. To ensure better services we desist from accessing mobile phone resources like files and media, contact lists, call logs, telephony functions, etc. We may take one-time access for camera, microphone, location, or any other facility necessary for onboarding/ KYC requirements only, with your explicit consent. We have adopted reasonable security practices and procedures to protect your information from unauthorized access, damage, use, modification, disclosure, or impairment of the information under our control. Whenever you change or access your account information, we offer the use of a secure server. Once your information is in our possession, we adhere to stringent security measures to safeguard it against unauthorized access. We share the personal information of Customers for a limited period and on an explicit consent basis to the Lending partner respectively. We do not collect or store any other data which is not required to serve the Customer in a seamless and effective manner.
CheQ is an PCI DSS-certified organization ensuring applicable compliance standards on information security and understands that the confidentiality, integrity, and availability of your information are vital to our business operations and our own success. We employ appropriate technical and organizational security measures at all times to protect the information we collect from you. We use multiple electronic, procedural, and physical security measures to protect against unauthorized or unlawful use or alteration of information, and against any accidental loss, destruction, or damage to information. We have put in place appropriate security measures to deal with any suspected data security breaches. However, no method of transmission over the Internet, or method of electronic storage, is completely secure, we cannot guarantee its absolute security. Further, you are responsible for maintaining the confidentiality and security of your login ID and password and may not provide these credentials to any third party. If you suspect a data breach or compromise of credentials, you must immediately contact the support team and follow the necessary instructions.
The servers storing your data are located in India. By using the platform, Customers accept the inherent security implications of data transmission over the Internet and the World Wide Web, understanding that absolute security cannot always be guaranteed. You are responsible for safeguarding your login credentials and account activity, whether authorized or not. Any unauthorized use of your account or password must be reported promptly to the Company.
PURPOSE AND USE OF INFORMATION
All Information collected/stored by the Platform shall be used for:
- registering/sourcing services by you on the platform and facilitating transactions including, providing assistance to completion of online personal loan submission form;
- measuring consumer interest in our products and services, informing you about online and offline offers, products, services, and updates;
- sharing with our affiliates, business partners, and other third parties for the purpose of providing you products and services, including but not limited to Financial Institutions and Credit Information Companies, for the purpose of underwriting and approval of loans (including personal loans) and other financial products' transactions/related transactions, or for doing a check of your credit profile on your behalf;
undertaking KYC due diligence, credit assessment, and checking your eligibility for the financial products offered on our platform (including financial and identity checks);
Periodic assessment of creditworthiness via Bureaus and other financial institutions;
providing you with a safe, efficient, smooth, enhanced customer experience, fulfilled services; availed on the platform including carrying out your instructions to make and receive payments;
enforcing, investigating, resolving disputes; troubleshooting problems; helping promote a safe service; collecting money;
reporting on financial/regulatory / policy and developing and retaining different types of risk management strategies;
customizing and enhancing your experience; detecting and protecting us against error, fraud, and other criminal activity;
displaying tailored financial product offers to you and enabling you to apply for certain products and services for which you have chosen to apply; sending you offers based on your previous orders and your interests;
sharing with you, updates, and information on products/service improvements along with their terms and conditions;
facilitating promotion, marketing, web analytics, and advertising activities (to the extent we use your personal information to market our products and services to you, we will provide you the ability to opt out of such uses);
complying with financial services regulations including retention of financial information and transactions;
improving our internal customer training;
checking your eligibility for certain products/services including but not limited to credit and payment products and providing you access to the services being offered by us, our affiliates, or lending partners;
analyzing demographic and profile data about our Customers' activity on the platform;
diagnosing problems with our server, and administering or conducting online surveys.
SHARING OF PERSONAL INFORMATION
We may seek your consent (explicit consent) to share or disclose your personal information with our other corporate entities, affiliates, lending partners, technology partners, merchants, and other third parties (credit bureau, recovery teams) for specified purposes. This disclosure may be required to enhance your experience, comply with legal obligations, enforce agreement(s), facilitate marketing and advertising activities, to prevent, detect, mitigate, and investigate fraudulent or illegal activities related to our services. This will also help us provide further credit-related information, enhance your credit limit, detect and communicate, credit defaults if applicable and also to register you for the products or services that you opt for.
We and our affiliates will share some or all of your personal information with another business entity in the event of a merger, acquisition, reorganization, amalgamation, or restructuring of business. Should such a transaction occur the other business entity (or the new combined entity) will be required to strictly follow this Privacy Policy with respect to your personal information.
A. Data Sharing and Usage by third parties:
- CheQ Digital Private Limited: Technology service provider
- AppsFlyer: To track the attribution of our referrals & downloads
- MoEngage: To provide us with omnichannel services for Customer engagement, campaigns, and data analytics. Customer action-related events are sent for this purpose
- Google Cloud Provider (GCP): Our secure infrastructure provider
Hyperverge Technologies Private Limited: Liveness Check and Face Fraud Recognition
Monnai Technology India Private Limited: Provides enrichment and intelligence for decisions on transaction level.
Exotel Techcom Private Limited: Cloud Communication Solution for Customer Support
Lenders/Recovery and collection Partners: All the Banks & NBFC partners, collection and recovery Partners are outlined in the section C below.
- comply with a court order or other legal process;
- protect the rights, property, or safety of the Company or another party;
- enforce our Terms of Use; or
- respond to claims that any posting or other content violates the rights of third parties.
B. Access Revocation and Data Deletion
You may revoke access to various permissions such as contacts permission and SMS permission via your mobile operating system's app settings or similar functions. You may also request deletion of your Account and data in accordance with the termination section as set out above. User may opt to revoke the permission or explicit consent provided to retrieve the data during the usage of the specific products and services taken from Us. Users can simply reach out to the support team for such revocation requests. These requests will be completed within 72 hours. However, Bitrocket as LSP and the Lenders may still retain data as required by applicable law, to the extent that any amounts are outstanding under any Credit Products or till the time approved in-principle credit limit is available to You, or to the extent any fraud or fraudulent transactions are suspected in connection with the Credit Products.
C. Active Lenders (Banks and NBFCs):
Earlysalary Services Private Limited (Formerly Known as Ashish Securities Private Limited)
Bajaj Finance Limited
Piramal Capital & Housing Finance Limited
Amica Finance Private Limited
Be advised that, in addition to this privacy policy, you may be subject to the privacy policies of the Lenders as well as other obligations stipulated in the loan documents.
CHOICE/OPT-OUT:
We provide all Customers with the opportunity to opt out of receiving non-essential (promotional, marketing-related) communications from us on behalf of our partners. If Customers provide explicit consent, the Company may use their information for marketing purposes, not including information collected from other sources. Customers may choose not to receive marketing materials by following the unsubscribe instructions included in each email, indicating so when contacted, or by contacting the Company directly. With Customers' explicit consent, the Company may disclose certain information to other affiliate entities and partners that are not acting as suppliers or business partners.
LINKS TO OTHER SITES:
Customers may come across links to third-party websites or apps not affiliated with the Company during their use of the app services. The Company is not responsible for the privacy practices or content of those websites, or for any acts or omissions by those third parties during Customers' transactions with them.
ADVERTISEMENTS:
We may use third-party advertising companies to serve ads when you visit the platform. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to deliver advertisements relevant to your interests. We are not sharing any personal data with third parties without your consent.
DATA STORAGE AND DELETION:
We retain your personal information in accordance with applicable laws, for a period no longer than what is required for the purposes for which it was collected. Furthermore, we do not store any biometric data or information, personal information is collected and stored for the specific services that you have signed up for.
The user information collected by us will be stored and retained for a period of maximum 10 (ten) years or as long as necessary for compliance of applicable laws. We do not keep your personal data and information longer than necessary for the purpose of the processing except for any record retention required by applicable laws, including but not limited to Prevention of Money Laundering Act 2002. This includes, for example, the purposes of satisfying any legal, regulatory, accounting, or reporting requirements, to carry out legal work, for the establishment or defence of legal claims. We may aggregate and anonymize your personal data and information (so that it can no longer be associated with you) for research or statistical purposes, in which case we may use this information indefinitely without further notice to you.
Please note that the Company is not storing any Customer data that the Customer is providing after receiving a customized loan offer from the respective Lending partner.
YOUR RIGHTS
9. CONSENT
UPDATION OF POLICY
The Company reserves the right to change or update this Policy at any time without prior notice. The Customer shall be notified of any change to the Policy having the effect of curtailing or limiting the existing Customer rights under the Policy. Any such changes or updating of the Policy shall be immediately effective upon posting to the Platform and your continued use is deemed approval of all such changes.
GRIEVANCE REDRESSAL
The Customer may report violation or breach of privacy, Information or identify theft or grievances in relation to the Information shared, collected, stored, or disseminated by the Company in relation to the Platform may please reach out at. The grievances shall be redressed within 30 days from the date of receipt.
Grievance Officer:
Phone No.: 9740523482
GOVERNING LAW AND JURISDICTION
In the event of any dispute arising between the parties with respect to this Policy, the same shall be referred to a sole arbitrator mutually appointed by the Parties and the arbitration shall be in accordance with Arbitration and Conciliation Act of 1996. The language of arbitration proceedings shall be English. The seat and place of arbitration shall be Bangalore, India and the decision of the Arbitrator shall be final and binding on both parties herein.
This contract shall be subject to the exclusive jurisdiction of courts in Bangalore, India, and shall be governed by Indian laws.