“Affiliates” shall mean any Person that, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with a Party and shall include a subsidiary or a holding company of such Person, and, in case of a Party being a natural person, the Relative of such Party.
“Force Majeure Event” shall mean any event that is beyond our reasonable control and shall include, without limitation, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action or any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to your mobile or storage device, crashes, breach of security and encryption.
“KredX” shall mean and refer to Minion Ventures Private Limited (CIN) U74900KA2015PTC080305, a Company constituted under the Companies Act, 2013 having its registered office at Wing A, Ground Floor, Office-1 Block A, Salarpuria Softzone, Bellandur Village Varthur Hobli Bangalore, India and its subsidiaries and group companies namely KredX Finance Private Limited (CIN U65990KA2022PTC157708), KredX Ventures IFSC Private Limited (CIN U67110GJ2022PTC128919 ) KredX Platform Private Limited(CIN U72900KA2021PTC147215) and KredX Global PTE (UENZ2991659)
“Personal Information” refers to any information that identifies or can be used to identify, contact or locate the person, to whom such information pertains including, but not limited to, name, address, phone number, email address, identification number or documents and any other information disclosed by you in relation to the Services.
“Sensitive Information” means sensitive personal data or information of a person means such personal information which consists of information relating to passwords, financial information such as bank account or credit card or debit card or other payment instrument details, biometric information, details of nominees and national identifiers including but not limited to: Aadhaar card, passport number, PAN, etc. For customers enrolled in Services provided by KredX, personal information about the transaction is collected. Provided any information that is freely available or accessible in public domain or furnished under the Right to Information Act, 2005 or any other law for the time being in force shall not be regarded as sensitive personal data or Sensitive Information for the purpose of these terms and conditions.
“Third Party” refers to any person or entity other than you or us.
Fully acknowledging the fact that your personal information belongs to you, we do our best to securely and carefully process the information you share with us. We place our highest value on your trust. We hence collect a minimal amount of information only with your permission and use it solely for its intended purposes.
Additional terms and conditions applicable to specific areas of this Website or to particular content or transactions are also posted in particular areas of the Website and, together with these terms, govern your use of those areas, content or transactions. By using the Website, you signify your acceptance to the Policy terms which takes effect immediately upon your use of the Services, and create a legally binding arrangement to abide by the same.
The terms and provisions of this Policy apply to the personal data and the sensitive personal data that we collect about you for the purposes of providing you with our services. Personal data or information as used in this Policy shall include sensitive personal data or information, as applicable. This Policy is formulated under the Information Technology Act 2000, the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 (“IT RSP Rules''), the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“Intermediary Rules”), guidelines, rules and regulations issued by regulatory/statutory authorities
We reserve the right to change this Policy without prior notice due to changes in applicable laws, promulgation of new statutes/laws/regulations or basis directions issued by competent statutory/regulatory authorities. For ensuring that you are updated on the Policy terms, We encourage you to regularly review this policy to ensure that you are aware of any changes and how your personal data may be used.
Please note that KredX might engage in business activities which might be interpreted as “digital lending activity” as covered under the Digital Lending Guidelines (“DLG Guidelines”) issued by Reserve Bank of India (“RBI”). Please note that with respect to digital lending under the DLG Guidelines, KredX shall ensure that it will not store personal information of borrowers or financiers except some basic minimal data (viz., name, address, contact details of the customer, etc.) that may be required to carry out their operations. A one-time access can be taken for camera, microphone, location or any other facility necessary for the purpose of on-boarding/KYC requirements only, with the explicit consent of the borrower or financier.
Personal Information provided by you in relation to the use of the Website: In order for you to access the Website, we may collect your Personal Information and / or Sensitive Information as may be required for the purposes connected thereto. We endeavor to protect the security of your information during transmission by using Secure Sockets Layer (SSL) software, which encrypts information you input.
We may collect information from you through a variety of sources including;
Device information —We collect device-specific information (such as your hardware model, operating system version, unique device identifiers, and mobile network information including phone number).
Log information —When you use our Services or view content provided by us, we automatically collect and store certain information in server logs. This includes:
KredX uses the information collected and appropriately notifies you to manage its business and offer an enhanced, personalised online experience on its website. Further, it enables KredX to:
Cookies are small pieces of information saved by your browser onto your electronic devices. Cookies are used to record various aspects of your visit and assist us to provide you with uninterrupted service. Cookies may be set in your browser by us when you access the Services or may be set in when you visit Third Party websites.
Please feel free to change your browser settings if you do not wish to accept cookies. However, please note that changing your browser setting may affect your experience on the Services.
In addition to the cookies, we may also collect information to enable us to better understand you so that we can improve your user experience; to assist our customer service and technical support personnel; and put processes in place to prevent fraud and unlawful use. In an effort to make the Website effective and improve the Website, certain information may be collected each time you access the Website. Such information may be saved in server logs in an encrypted form which may not identify you personally. In addition to cookies, we use web beacons, ad tags, and pixels to advertise as part of the Services. The above- mentioned data may be used by us and may be shared with our sponsors, investors, advertisers, developers, strategic business partners or other associates to enhance and grow the user experience in relation to the Website.
You might register with us using your Facebook or LinkedIn account or Google identity or any other third party website mentioned on our website (“Third Party Sites''). You understand that, by creating an account or by registering through Third Party Sites, we and others will be able to identify you by your profile. We will also not be liable for the photographs and data that the users might upload, which are not in accordance with applicable law. We will ask for your personal information details only for the service provided by us. Such data is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
Please note that we always ask for your permission before accessing the information. We hereby confirm that we do not store your personal information, except the personal information provided in this Policy which is necessary to carry out our business operations which may be shared with third parties. The website and our App does not store personal information of users except some basic minimal data (viz., name, address, contact details of the customer, etc.) that may be required to carry out business operations.
Some of the data collected by us may be regarded as sensitive personal data or information under Rule 3 of the IT RSP Rules. We shall use the information collected by us only for the purpose for which it has been collected, for a specified purpose of providing you the services as mentioned in the Platform.
KredX may engage or use the service of third party Service Providers while providing various services due to the following reasons:
KredX wishes to inform users that these third parties have access to your personal information. The reason is to perform the tasks assigned to them on our behalf. However, they are obligated not to disclose or use the information for any other purpose.
We strive to ensure the security, integrity and privacy of your Personal Information and Sensitive Information. To protect your Personal Information / Sensitive Information against unauthorized access or unauthorized alteration, disclosure or destruction.
You can access your personal identity details on our website/App through your login and password. We recommend that you do not share your password with anyone. In addition, your personal details are stored on a secure server located in India that only selected personnel contractors and authorised Agencies have access to on a need- to- know basis. We encrypt certain sensitive information using Secure Socket Layer (SSL) technology to ensure that your personal details are safe as it is transmitted to us.
We are not responsible for any breach of security or for any actions of any Third Parties that receive your Personal Information / Sensitive Information. We are not/shall be not responsible for their privacy policies or practices as it is beyond our control.
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.
No data collected and allowed to be stored by us shall be stored in any server which is not located in India.
Standards for handling security breach:
Information may be retained for a duration, required under applicable statutes/by regulations, rules or guidelines or as long as required to achieve the identified (and notified) purpose.
We will only retain your personal data for as long as it is necessary for the stated purpose, taking into account also our need to answer queries or resolve problems, provide improved and new services, and comply with legal requirements under applicable laws. This means that we may retain your personal data for a reasonable period after your last interaction with us. Kindly note that we do not sell your personal data to any third party and the use of your personal data is strictly restricted to the services provided by us, as mentioned herein. Your data will be stored in our systems in accordance with the Information Technology Act, 2000, Rule 3(h) of the Intermediary Rules and the IT RSP Rules (“IT RSP Rules”).
When there is no longer a business, legal, or regulatory requirement to keep the data, then the data will be purged in a secure manner.
Data Destruction Protocol: All the data, including all the copies thereof will be destroyed post the completion of the business, legal or regulatory requirement. In case the data are stored in digital form, then secure erasure of individual folders and/or files will be done.
We make all efforts to ensure that we collect only such Personal Information that we believe to be relevant in order to record, support, and facilitate your access to the Website.
We may offer email, short message service (sms), multimedia message service (mms) or other forms of communication to share information with you about certain promotions or features the Services may choose to offer or about our affiliates, subsidiaries, business partners, advertisers and sponsors. You may receive such communication when you have registered as a User.
KredX may make disclosures of information diligently which is required pursuant to law or court order or under any legal procedure. We may or may not notify you for the same.
We cannot and will not assure that other Users are or will be complying with the foregoing rules or any other provisions of this T&C, and, as between you and us, you hereby assume all risk of harm or injury resulting from any such lack of compliance.
We have no control over and accept no responsibility for the content of any website or mobile application to which a link from the Website exists (unless we are the provider of those linked websites or mobile applications). Such linked websites and mobile applications are provided “as is” for your convenience only with no warranty, express or implied, for the information provided within them.
You have the option, at any time while availing our Services or otherwise, to withdraw your consent given to us, for processing your data. In case of withdrawal of your consent, we reserve the option not to provide the Services for which such information was sought. In case the Services are already availed and then you raise a request to withdraw consent, then we have the right to retain to stop the provision of the Services.
You have the right to exercise any of the above rights by contacting the Official specified in “Grievance Redressal” clause of this Policy. Once we receive your request and verify the same satisfactorily, we shall proceed with assisting you on your requests.
If you have any complaint under the Information Technology Act 2000, the IT RSP Rules or any FinTech/ digital lending related complaints/issues, the contact details of the Grievance Redressal Officer are provided below.
Name: Amrutha A
Ph: 08061799200, IVR-9
Any controversy or claim arising out of or relating to this policy shall be decided by Arbitration in accordance with the Arbitration and Conciliation Act 1996 and the governing law shall be the laws of India. The Arbitral Tribunal shall consist of one arbitrator who shall be appointed by an Arbitral Institute nominated by the Parties hereto in accordance with the Arbitration and Conciliation Act 1996.Any such controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. Any other dispute or disagreement of a legal nature will also be decided in accordance with the laws of India, and the Courts at Bengaluru shall have exclusive jurisdiction in all such cases, subject to the foregoing.