Privacy Policy

This Privacy Policy document (“Privacy Policy”) is published in accordance with the provisions of Rule 4 (1) of the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 which requires the publishing of a privacy policy for handling of or dealing in personal information including sensitive personal data or information.

By visiting the website, www.thelendingbank.com (“Website”) or the The Lending Bank mobile and/or web application (the “App”) (collectively, the “Platform”) and availing the services provided by us (“Services”) you agree to be bound by the terms and conditions of this Privacy Policy.

By mere access to the Platform or any part thereof, you signify your assent to this Privacy Policy and consent to the processing of your personally identifiable information (Personal Information, Sensitive Personal Data or Information) to The Lending Bank  (“we” or “our” or “us” or “thelendingbank”). This Privacy Policy is incorporated into and subject to the Terms of Use of the Platform.

For the purpose of this Privacy Policy, the users of the Services may be customer/consumers/ buyers/ consumers, or any other persons using Services or accessing our Platform (“user” or “you” or “your”).

If you do not agree to this Policy or any part thereof, please do not use/ access/ download or install the Platform or any part thereof.

COLLECTION OF USER PERSONAL INFORMATION

When you use our Platform, we collect and store your information which is provided by you from time to time by explicitly seeking permissions from YOU to get the required information. Our primary goal in doing so is to provide you a safe, efficient, smooth and customized experience and Services. This allows us to provide services and features that meets your needs, and to customize our Platform to make your experience safer and easier and to improve the Services provided by us. More importantly, we collect personal information from you that we consider necessary for achieving the aforementioned purpose.

Wherever possible, we indicate the mandatory and the optional fields. You always have the option to not provide any information by choosing not to use a particular service or feature on the Platform. We also collect user account data which includes email address and user public profile information like name, photo, ASID depending on the platform used by You to log-into the App. This information is required as a part of registration process to access our Service and it is also used to auto-populate relevant fields in the course of the interface of the App. We further collect other identifiable information such as your transactions history on the Platform when you set up a free account with us as further detailed below. While you can browse some sections of our Platform without being a registered member as mentioned above, certain activities (such as availing of loans from the third party lenders on the Platform) require registration and for you to provide the above details. The Platform will clearly display the personal information it is collecting from you, and you have the option to not provide such personal information. However, this will limit the services provided to you on the Platform.

USE AND DISCLOSURE OF YOUR PERSONAL AND OTHER INFORMATION

We understand the importance of your information and ensure that it is used for the intended purpose only. We access, store and use the information we collect from you in accordance with the applicable laws to provide our Services, to research and develop new ones subject to the limitations set out in this Privacy Policy.

We use the information to:

  1. resolve disputes;

  2. troubleshoot problems;

  3. help promote a safe service;

  4. analytical analysis;

  5. marketing and promotional purposes including sending you promotional SMS, Email and Whatsapp;

  6. measure consumer interest and satisfaction in our products and services;

  7. inform you about online and offline offers, products, services, and updates;

  8. customize your experience;

  9. detect and protect us against suspicious or illegal activity, fraud and other criminal activity;

  10. enforce our terms and conditions;

  11. improvement of our services and as otherwise described to you at the time of collection

In our efforts to continually improve our product and service offerings, we collect and analyze demographic and profile data about our users’ activity on our Platform.

PURPOSE OF COLLECTING INFORMATION

The intended purpose of collecting information provided by you is to:

  1. establish identity and verify the same;

  2. to facilitate your KYC;

  3. monitor, improve and administer our Platform;

  4. provide our service i.e. perform credit profiling for the purpose of facilitating loans to You.

  5. design and offer customized products and services offered by our third party financial partners;

  6. analyse how the Platform is used, diagnose service or technical problems and maintain security;

  7. send communications notifications, information regarding the products or services requested by You or process queries and applications that You have made on the Platform;

  8. manage Our relationship with You and inform You about other products or services We think You might find of some use;

  9. conduct data analysis in order to improve the Services / Products provided to the User;

  10. use the User information in order to comply with country laws and regulations;

  11. conduct KYC for our third party lending partners based on the information shared by the User;

  12. use the User information in other ways permitted by law to enable You to take financial services from our lending partners.

We will use and retain the information for such periods as necessary to provide You the Services on the Platform, to comply with our legal obligations, to resolve disputes, and enforce our agreements.

DISCLOSURE TO THIRD PARTIES

We will share Your information with only our registered third parties including our regulated financial partners for provision of Services on the Website/ App. We will share Your information with third parties only in such manner as described below:

  1. We disclose and share Your information with the financial service providers, banks or NBFCs and our third party partners for facilitation of a loan or facility or line of credit or purchase of a product;

  2. We share Your information with our third party partners in order to conduct data analysis in order to serve You better and provide Services our Platform;

  3. We may disclose Your information, without prior notice, if we are under a duty to do so in order to comply with any legal obligation or an order from the government and/or a statutory authority, or in order to enforce or apply Our terms of use or assign such information in the course of corporate divestitures, mergers, or to protect the rights, property, or safety of Us, Our users, or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction.

  4. We will disclose the data / information provided by a User with other technology partners to track how the User interact with the Platform on Our behalf.

  5. We and our affiliates may share Your information with another business entity should we (or our assets) merge with, or be acquired by that business entity, or re-organization, amalgamation, restructuring of business for continuity of business. Should such a transaction occur than any business entity (or the new combined entity) receiving any such information from Us shall be bound by this Policy with respect to your information.

  6. We will disclose the information to our third party technology and credit partners to perform credit checks and credit analysis like Credit Bureaus or third party data source providers;

  7. We will share Your information under a confidentiality agreement with the third parties and restrict use of the said Information by third parties only for the purposes detailed herein. We warrant that there will be no unauthorised disclosure of your information shared with third parties.

  8. By using the Platform, you hereby grant your consent to the Company to share/disclose your Personal Information (i) To the concerned third parties in connection with the Services; and (ii) With the governmental authorities, quasi-governmental authorities, judicial authorities and quasi-judicial authorities, in accordance with applicable laws of India.

  9. We shall disclose your KYC journey or any data with respect to the same to the relevant regulatory authorities as a part of our statutory audit process. Please note that your Aadhaar number shall never be disclosed.

In case we use or disclose your information for any purpose not specified above, we will take your explicit consent.

CHANGES IN THIS PRIVACY POLICY

We reserve the right to change, modify, add, or remove portions of this Privacy Policy at any time for any reason. In case, any changes are made in the Privacy Policy, we shall update the same on the Platform. Once posted, those changes are effective immediately, unless stated otherwise. We encourage you to periodically review this page for the latest information on our privacy practices. Continued access or use of the Services constitute Your acceptance of the changes and the amended Privacy Policy.

ACCESSING YOUR INFORMATION / CONTACTING US

At any point of time Users can choose to edit/modify or delete/withdraw any Personal Information shared for use of the Platform. Please note that deleting or withdrawing information may affect the Services we provide to you. In case of modification of Personal Information, Users will be required to furnish supporting documents relating to change in Personal Information for the purpose of verification by the Company.

SECURITY PRECAUTIONS

The Platform intends to protect your information and to maintain its accuracy as confirmed by you. We implement reasonable physical, administrative and technical safeguards to help us protect your information from unauthorized access, use and disclosure. For example, we encrypt all information when we transmit over the internet. We also require that our registered third party service providers protect such information from unauthorized access, use and disclosure.

Our Platform has stringent security measures in place to protect the loss, misuse and alteration of information under control. We endeavour to safeguard and ensure the security of the information provided by you. We use Secure Sockets Layers (SSL) based encryption, for the transmission of the information, which is currently the required level of encryption in India as per applicable law.

We blend security at multiple steps within our products with the state of the art technology to ensure our systems maintain strong security measures and the overall data and privacy security design allow us to defend our systems ranging from low hanging issue up to sophisticated attacks.

YOUR CONSENT

By using the Platform and by providing your information, you consent to the collection, sharing, disclosure and usage of the information that you disclose on the Platform in accordance with this Privacy Policy.

If we decide to change our Privacy Policy, we will post those changes on this page so to make you aware of the information we collect, how we use it, and under what circumstances we share and disclose it.

By using the Platform and by providing your information, you consent to the collection, transmission, sharing, disclosure and usage of the information that you disclose on the Platform in accordance with this Privacy Policy.

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