For the purpose of this Privacy Policy (hereinafter referred to as the “Policy”), wherever the context so requires:
To create an account on the Platform, You must provide us with the basic details and information required as part of our customer identification process and You agree to our User Terms and Conditions and this Privacy Policy, which governs how We treat Your information.
Type of information collected.Platform collects basic information required to provide customized services including Your name, mailing address, postal code, phone number, PAN No., age, declarations, Your description and details in Your account, financial information such as bank account etc. Such data is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
You will register with us using Your Facebook or LinkedIn account or Google identity or any other third-party website mentioned on our Platform (“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 bank account 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.
Storage of information.We hereby confirm that We do not store Your personal information, except the following personal information provided in Clause 5 of the Policy which is necessary to carry out our business operations which may be shared with third parties. The Platform 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.
We may collect data about You from a variety of sources, including through:
Usage of information. Without prejudice to any use cases of information detailed in above, the Company retains the right to use the User’s information for the following purposes:
However, any personal information provided by You will not be considered as sensitive if it is freely available and/or accessible in the public domain like any comments, messages, blog posts or scribbles, etc. available on social media Platform like Facebook, Twitter etc. Any information posted/ uploaded/ conveyed/ communicated by Users on the public sections of the Platform becomes published content. In addition, the Company may collect information regarding the domain and host from which the visitor accesses the internet, the internet protocol address of the computer or internet service provider, browsing history, and anonymous website or application statistical data. The Platform uses cookie and tracking technology depending on the features offered which are text files collected by a User’s web browser.
This includes the types of personal or sensitive personal data that You provide us, in addition to the data mentioned in Clause 4 above, with Your consent for a specified purpose of providing You the services as mentioned on the Platform.
Some of these may be regarded as sensitive personal data or information under Rule 3 of the IT RSP Rules.
Purpose of collection of information.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.
APP Permissions
SMS Permission: We will request permission to view SMS messages relating to financial transactions only in order to determine Your income and expense profile. The App will only access financial SMSs sent by 6- digit alphanumeric senders from the inbox which helps us identify the various accounts held by the user and to help perform an optimal ‘credit risk assessment’ of the user.
The data is accessed by our machine learning models only. We will only access those messages that are relevant for the purpose of sharing such information with our partners and in furtherance of our business operations and will not read / store/share irrelevant or personal messages in any form or manner. The permission is voluntary and can be revoked at any time. However, denying access may lead to an inaccurate assessment of the user’s credit assessment on the platform. The data accessed by the said permission is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
Phone Permission: Collect and monitor specific information about Your device including Your hardware model, operating system and version, unique device identifiers like IMEI and serial number, user profile information and mobile network information to uniquely identify the devices and ensure that unauthorized devices are not able to act on Your behalf to prevent frauds. The data accessed by the said permission is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
Contact: We do not collect or store contact information. However, we request the users to provide us with contact references for the purpose of filling the reference details screen during the loan application stage. The data accessed by the said permission is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
Location Permission: The App will request permission to capture the user’s location for verification, risk analysis and operational purposes. The user’s location will enable us to verify addresses, determine serviceability and expedite the KYC process. The data accessed by the said permission is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
Apps Permission: Collect and monitor a list of installed apps on Your device for credit profile enrichment Accounts Permissions Collect and monitor the list of accounts on Your device for credit profile enrichment. The data accessed by the said permission is stored in our systems in accordance with Rule 3(h) of the Intermediary Rules and the IT RSP Rules.
We value Your trust in providing us Your Personal Information, thus We endeavour to maintain physical, technical and procedural safeguards that are appropriate to protect Your information.
You can access Your personal identity details on our Platform 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.
Protection of Your privacy and Your data security is a top priority for us. We encrypt Your data and store it in multiple databases. There are security group and firewall checks to control the APIs with multi-level authentication, authorisation and verifications.
However, You understand and accept no data transmission over the internet can be guaranteed to be completely secure. We cannot ensure or warrant the security of any information that You transmit to us and You do so at Your own risk. Data pilferage due to unauthorized hacking, virus attacks, technical is possible and We take no liabilities or responsibilities for it, except to the extent permitted in law. In case such security breach happens, We take the following steps as mentioned in Para 8 & 9 of this Policy.
In order to keep Your personal data secure, We have implemented a number of security measures including:
We value Your Personal Information, and protect it on the Platform against loss, misuse or alteration by taking extensive security measures. In order to protect Your Personal Information against any loss, misuse, copying, damage or modification and unauthorized access or disclosure, We have implemented adequate technology and will update these measures as new technology becomes available, as appropriate. All Personal Information is securely stored on a secure cloud setup and all communication happens via secure SSL communication channels.
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:
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 IT Act, Rule 3(h) of the Intermediary Rules and the 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 physical form, that is, CDs, DVDs, Pen Drive, tapes, etc., then the physical device storage shall be destroyed. In case the data are stored in digital form, then secure erasure of individual folders and/or files will be done.
Users are permitted to request the deletion of their accounts from the application by initiating an account deletion request. However, such requests will not be considered if the customer falls under any of the following criteria:
We will delete the user data associated with the user’s account in accordance with our retention policy and the following conditions:
Data shall be retained for an extended period of time:
The customer account shall be deleted within the 30th day from the date of submission of request for data deletion. If the user logs in to the app post the deletion of their account, he/she shall be treated as a new customer.
Scope of Data Deletion & Retention
When a user’s account deletion request is successfully submitted, the following details shall be deleted from our database:
However, for regulatory and legal compliance reasons, other details related to the user’s account, including user-submitted data, transaction history, investment history, KYC and any other data shall be retained as per regulatory guidelines.
For a better experience, while using our service, We may require You to provide us with certain personally identifiable information, including but not limited to User info. The information that We request will be retained by us and used as described in this privacy Policy.
The app does use third party services that may collect information used to identify You.
Certain third-party providers’ services are used by the Platform including the following:
(i) Google; (ii) Facebook; (iii) IOs/ Apple, (iv) LinkedIn etc.
We and our affiliated partners may use the personal information submitted by You to contact You in relation to the services offered.
We may employ third-party companies and individuals due to the following reasons:
We want to inform users of this service 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.
Cookies are files with a small amount of data that are commonly used as anonymous unique identifiers. These are sent to Your browser from the websites that You visit and are stored on Your device’s internal memory.
We may set cookies to track Your usage on our Platform. We use data collection devices such as “cookies” on certain pages of the Platform to help analyze our web page flow, measure promotional effectiveness, and promote trust and safety.
These are used to enhance Your experience with our Platform. We use cookies to help us identify who You are, so Your login experience is smooth each time. Cookies also allow us to collect Non-Personally Identifiable Information from You, like which pages You visited and what links You clicked on. Use of this information helps us to create a more user-friendly experience for all visitors. In addition, We may use Third Party Advertising Companies to display advertisements on our Platform. By using the Platform, You signify Your consent to our use of cookies.
Please note that if You decline or delete these cookies, some parts of the Platform may not work properly.
We and our affiliated partners may use the personal information submitted by You to contact You in relation to the services offered. This shall override any calling preferences, which You may have registered in the National Do Not Call Registry.
Transactions on the Website are secure and protected. Any information entered by the User when transacting on the Website is encrypted to protect the User against unintentional disclosure to third parties. The User’s credit and debit card information is not received, stored by or retained by the Company / Website in any manner. This information is supplied by the User directly to the relevant payment gateway, which is authorized to handle the information provided, and is compliant with the regulations and requirements of various banks and institutions and payment franchisees that it is associated with.
If You have any complaint under the Privacy Policy or wish to report a breach of the Privacy Policy or any complaints/issues, the contact details of the Grievance Redressal Officer are provided below.
The Grievance Redressal Officer should acknowledge the complaint within 24 (twenty-four) hours and dispose of such complaint within a period of 15 (fifteen) days from the date of its receipt.
Ms. Anvesha Gupta
5th Floor, Paville House, Twin Towers Lane,
Off Veer Savarkar Marg, Prabhadevi, Mumbai-400025.
E-Mail ID: grievance@13karat.in
Notwithstanding anything contained herein, the Company reserves the right, without notice and in its sole discretion, to terminate Your account and/or to block Your use of the Platform.
As per the applicable data protection law, Your principal rights are as follows. Please read this in in conjunction with the Policy, specifically Clause 5:
Right to withdraw consent: 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 our Grievance Redressal Officer(“GRO”) as mentioned under Clause 17 of this Policy. Once We receive Your request and verify the same satisfactorily, We shall proceed with assisting You on Your request.
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 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. The proceedings shall be conducted in English. The seat and the venue of arbitration shall be Mumbai.
Any other dispute or disagreement of a legal nature will also be decided in accordance with the laws of India, and the Courts at Mumbai shall have exclusive jurisdiction in all such cases, subject to the foregoing.
We keep our Policy under regular review and may update the same to reflect changes to our information related practices. We encourage You to periodically review this page for the latest information on our privacy practices, Your continued use and access of our platform will be taken as acceptance of the updated policy.