Paisa24 Privacy Policy Data Protection & Security

01Our commitment to your privacy

At Paisa24Finance, a brand of Barota Finance Limited, we highly value the trust you place in us. We are committed to upholding ethical standards in the collection, usage and protection of your information. This Privacy Policy governs the use of our website, applications, products and services. By accessing and using them, you indicate your acceptance of this policy and our Terms of Use.

We understand your concerns regarding the use and sharing of your personal information. Please read this Privacy Policy alongside the Terms of Use provided on our website. Your continued use of our website, application, products or services constitutes your legally binding agreement to this policy. If you do not agree with these terms, please refrain from using our platforms and services.

Your consent: By accepting this Privacy Policy, you expressly consent to Paisa24Finance's collection, retention, analysis, use and disclosure of your personal information as described here.

02Information we collect

At Paisa24Finance, we collect the following types of information:

Personal information

Your name, contact details and date of birth, provided during the loan application process.

Financial information

Bank account or card details, collected to facilitate loan processing and repayment.

Transaction information

Loan applications, repayment history and account balances, to evaluate eligibility and manage your account.

Third-party information

With your permission, information stored by third parties (e.g. social networks) as your privacy settings allow.

PII data

Paisa24Finance collects customer data, including Personally Identifiable Information (PII), from you or from Paisa24Finance and its service providers, when you apply for our products and services, apply for employment, register an account on our Site or App, or during your association with the Company. You may be asked to provide PII through our Sites, physical forms, or when you enter into any financial transaction with the Company.

Device data

Paisa24Finance may process your device data (detailed in Annexure 1). Before accessing such data, the Site may request that you activate the requisite permissions; a general description of the app's behaviour can be referenced through the permissions module of your mobile phone. Our Sites may employ cookies and similar technologies, and we may use third-party analytics tools (such as SDKs and APIs).

Right to delete / forget device data: Device data is accessed only with your prior consent, and you have the right to request its deletion from our Site or app. Upon deletion, you may be required to register again. Paisa24Finance disposes of personal information using a secure destruction mechanism only.

03Third-party policies

We may work with different third parties in connection with the App or for providing the Services. Please be aware that once you click through or are routed to third-party links, our Privacy Policy no longer applies, and we are not responsible for the privacy practices of these third parties.

In general, third-party service providers will only collect, use and disclose your information to the extent necessary to perform the services they provide us. In such cases, we share information securely and use commercially reasonable efforts to ensure recipients comply with confidentiality, fidelity and secrecy obligations.

However, certain third-party service providers (such as credit information companies) have their own privacy policies in respect of the information. The list of third parties collecting information through the App is available on our website and is updated from time to time for your reference.

04How we use your information

We utilise the information collected for the following purposes:

Loan processing: to process and evaluate loan applications, ensuring efficient and effective loan disbursal.
Customer support: to provide excellent support and resolve any disputes that may arise during your loan journey.
Legal and regulatory compliance: to comply with applicable laws and regulations, ensuring a secure and transparent lending process.
Non-personal information: to track website usage and customer behaviour, enabling us to enhance our services and improve the user experience.

Rest assured that your information is treated with the utmost confidentiality and used solely for the purposes stated above.

05Retention, withdrawal of consent & account deletion

You can access and review the information shared by you, after fulfilling any pending contractual obligations, by getting in touch with us. You may also withdraw or revoke consent given to us to process any information by writing to us at care@paisa24finance.com, and you can request deletion of your mobile app account from within the app. You have the right to deny consent for the use of specific data on the App.

Post account deletion, you will not be able to avail services on the mobile app. However, deletion will not impact any other terms and conditions agreed between you and Paisa24Finance, and you shall continue to perform all obligations otherwise agreed. If you have applied for a loan and the application is under process, it will be discarded upon account deletion.

We shall not retain your information and will delete it when it is no longer required and there is no legal requirement to retain it. Note that multiple legal bases may exist in parallel, and we may still retain certain information for legitimate reasons such as security, fraud prevention, regulatory compliance or audit purposes.

06Information sharing

We may share your information in the following circumstances:

Service providers: with trusted providers who assist our operations, such as credit bureaus, lenders and card processors, to ensure a smooth loan processing experience.
Legal requirements: when required by law, such as in response to a subpoena or court order, to comply with legal obligations and protect our rights.
Business transfers: in the event of a sale, merger or transfer of our business, your information may be shared with the acquiring or merged entity to continue providing our services.

Our promise: We do not rent, sell or disclose your personally identifiable information to third parties or affiliates without your consent.

07Your rights & choices

Your rights

You have the right to request access to your personal information, seek corrections or deletions, and withdraw your consent for the processing of your data. We respect your choices and privacy preferences.

Dispute resolution

Any disputes or claims arising from this Privacy Policy shall be subject to the exclusive jurisdiction of the courts in Chandigarh (UT), India, and will be resolved through the regular judicial process in accordance with Indian laws.

Cookies

We use cookies to enhance your website experience and understand how users interact with our services. You have the option to disable cookies in your browser settings, although this may impact certain features of our website.

08Security

We employ reasonable measures to safeguard your information against unauthorised access, use or disclosure. However, please note that no transmission over the Internet can be guaranteed as completely secure. While we strive to protect your data, we cannot provide an absolute guarantee of its security.

09Changes & grievance officer

Changes to this Privacy Policy

We may periodically update this Privacy Policy to reflect changes in our practices or to comply with legal requirements. We recommend reviewing it periodically to stay informed about our privacy practices.

Grievance officer

We have appointed a Grievance Officer to address any concerns or grievances you may have regarding your personal information. Please reach out using the contact details below:

Grievance Officer, Paisa24Finance
Email: care@paisa24finance.com
SCO-859, NAC, Manimajra, Chandigarh, India 160101

We value your privacy and strive to address any issues promptly and effectively.

A1Annexure 1, App permissions

To provide a seamless and secure experience, our mobile app may request the following permissions. Each is used only for the purposes described and with your consent.

Camera & microphone

For a seamless experience, clicking your selfie, uploading photos, or recording audio/video, for verification, onboarding / KYC, or uploading necessary documents.

Location

To verify your location and current address, offer customised promotions, check serviceability, and identify unusual activity for underwriting and fraud investigation. Collected when you enable access on your device.

Device

Information about the device you use, IP address, browser type, OS and version, hardware model, device type and unique identifiers, to uniquely identify devices and prevent unauthorised devices from acting on your behalf.

Phone storage

Required to proceed with your loan application, enabling you to upload images of identity / address documents, bank statements and other documents needed during the loan.

SMS

We read only headers to check the sender type and indicative content from 6-digit alphanumeric senders for verification. We do not read personal or OTP messages (except OTPs sent by us). This helps verify financial statistics for credit evaluation, faster approvals and fraud prevention.

Apps

Details of system and installed applications (e.g. VPN or gaming apps) to understand usage for fraud detection and risk profiling, helping us give quicker approvals and higher credit limits.

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