Privacy Policy
Privacy Policy
This Privacy Policy (“Policy”) sets forth the modes of collection, use and disclosure of your information gathered through any Digital Lending App used by us. This Policy applies only to personal information collected on the platform. Please read this Policy carefully. By continuing to use the services you agree to this Policy. If you do not agree to this Policy, you may choose to not avail the services. Access to any Platform is subject to the Terms and Conditions (Terms) accessible on that Platform.
INTRODUCTION
We, Lendigo Microfinance Private Limited (Company; We; us; our) have developed and use an in-house Digital Lending App (“DLA”) called Fibe and/or website https://www.lendigo.in/ (together referred to as Platform), through which you may apply for a loan (Loan) with RBI registered lenders (hereinafter referred to as ‘Lending Partners’), which shall be granted based on the loan agreement executed with our Lending Partners, further you may also avail other financial services through our Platform which are offered by entities holding valid license from the applicable regulators. Customer (hereinafter referred to as ‘Customer’, ‘You’, as the reference maybe) authorizes us to collect, store, authenticate, verify and distribute the Personal Information (defined below) as may be required to for the purpose of our Services. Personal Information shall be collected through the form in digital format available on the Platform.
We are committed to protecting your privacy and have made this Privacy Policy to describe the procedures we adhere to for collecting, using, and disclosing the
PERSONAL INFORMATION COLLECTED
In order to avail the Services, you are required to register with the Company by logging in the Platform (User Account). For the purpose of this Policy, Services shall mean the services of granting, sanctioning, lending of loans, and availing other financial services from entities holding valid license from the applicable regulators through the Platform. During the application process, you shall be required to share/ upload certain personal information, your name, e-mail address, gender, date of birth, mobile number, passwords (if required for opening any document shared by you) , photograph, mobile phone information, Financial SMS , data , financial information such as bank documents, salary slips, bank statements, PAN card, bank account no., data from Credit Information Companies, data required for Know Your Customer compliances, requirement and other relevant details (together hereinafter referred to as “Personal Information”). You undertake that you shall be solely responsible for the accuracy and truthfulness of the Personal Information you share with us
You understand and acknowledge that the Company reserves the right to track your location (Track) during the provision of the Services, and in the event that you stop, cease, discontinue to use or avail the Services, through the deletion or uninstallation of the Mobile App or otherwise, till the event that your obligations to pay the Outstanding Amount(s) exist. Deletion, uninstallation of the DLA, and/or discontinuation of our Services shall not release you from the responsibility, obligation, and liability to repay the Outstanding Amount(s).
You further understand and acknowledge that provision of the information provided herewith is voluntarily and you may choose to provide and/or withhold provision of any data. However, in case of non-provision of any data you may not be eligible for certain services for which the data needs to be collected.
You understand acknowledge that, the Company shall only store data required for provision of the Services and upon completion of the Services the data shall be deleted
You further understand acknowledge that, all the data stored by the Company shall strictly be in adherence to the Digital Personal Data Protection Act 2023, Digital Lending Guidelines as published and updated by the Reserve Bank of India from time to time and any other applicable law, rules and regulations.
GOVERNING STATUTE
This Privacy Policy is governed by and is compliant with the Digital Personal Data Protection Act 2023, Digital Lending Guidelines as published and updated by the Reserve Bank of India from time to time, Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules 2011, which is designed to protect Personal Information of the End-User(s) of the Services; and any other applicable law, rules and regulations related to privacy, data security and storage.
COOKIES
We may set cookies to track your use of the Platform. Cookies are small, encrypted files, that a site or its service provider transfers to your device’s hard drive that enables the sites or service provider’s systems to recognize your device and capture and remember certain information. By using the Application, you signify your consent to our use of cookies.
DISCLOSURES
We do not sell, rent, lease your Personal Information to anybody and will never do so. Keeping this in mind, we may disclose your Personal Information in the following cases:
Administrators:
We shall provide access to your Personal Information to our authorized administrative(s) for internal business purposes, who shall be under confidentiality obligations towards the same.
Affiliates:
We may provide Personal Information we collect to our affiliates. For example, we may disclose Personal Information to our affiliates to respond
Business Partners:
We may use certain trusted third-party companies and individuals to help us provide, analyse, and improve the Services including but not limited to data storage, maintenance services, database management, credit bureaus, rating agencies, web analytics, payment processing. These third parties may have access to your information only for the purposes of performing these tasks on our behalf and under obligations like those in this Privacy Policy. Please be assured that all your data is stored only in servers located in India.
Joint Marketing Arrangements:
Where permitted by law, we may share your Personal Information with joint marketers with whom we have a marketing arrangement, we would require all such joint marketers to have written contracts with us that specify the appropriate use of your Personal Information, require them to safeguard your Personal Information, and prohibit them from making unauthorized or unlawful use of your Personal Information.
Legal and Regulatory Authorities:
We may be required to disclose your Personal Information due to legal or regulatory requirements. In such instances, we reserve the right to disclose your Personal Information as required in order to comply with our legal obligations, including but not limited to complying with court orders, warrants, or discovery requests. We may also disclose your Personal Information (a) to law enforcement officers or others; (b) to Credit Information Companies; (c) to comply with a judicial proceeding, court order, or legal process served on us or the Platform; (d) to enforce or apply this Privacy Policy or the Terms of Service or our other policies or Agreements; (e) for an insolvency proceeding involving all or part of the business or asset to which the information pertains; (f) respond to claims that any Personal Information violates the rights of third-parties; (g) or protect the rights, property, or personal safety of the Company, or the general public.
Lending Partners:
We have entered into a contractual arrangement with RBI registered Lenders, who shall on the basis of RBI requirements and their internal criterions and policies shall provide lending and related services to the Customers. We shall share all the data shared by you with these Lending Partners. These Lending Partners shall have access to your information for the purposes of performing these tasks, further the Lending Partners shall have the
Persons Who Acquire Our Assets or Business:
If we sell or transfer any of our business or assets, certain Personal Information may be a part of that sale or transfer. In the event of such a sale or transfer, we will notify you.
Service Providers:
We may share your Personal Information with the service providers, including LSP's and DLA's, who are working with us in connection with the operation of the Services or the Platform, so long as such service providers are subject to confidentiality restrictions consistent with this Privacy Policy.
You agree and acknowledge that we may not inform you prior to or after disclosures made according to this section.
We may share your data with the following https://www,lendigo.in/
Notwithstanding anything mentioned hereinabove, the Company shall not be responsible for the actions or omissions of the service providers or parties with whom the Personal Information is shared, nor shall the Company be responsible and/or liable for any additional information you may choose to provide directly to any service provider or any third party.
DATA RETENTION
We shall retain your Personal Information for as long as your registration with us is valid and the Outstanding Amount(s) is due and payable. We may also retain and use your Personal Information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements.
You may choose to delete and/or change/ withdraw your consent for use of your data at any point. You may reach out to us by email specifying such a change. Upon receiving such a request, we will delete your Personal Information subject to receiving written request for the same through your registered email-id. Please note, however, that there might be latency in deleting Personal Information from our servers and we shall have right to retain copies of the information if required for Legal, Regulatory, Complaince or audit purpose.
Also, upon withdrawal of such a request you might not be eligible for any services, and it shall be at the sole discretion of the Companybe deleted.
Further, all your data shall be stored only in servers located within the territory of India.
Type of Data Stored
We collect and store personal information as specified in this Policy, which may include but is not limited to the following:
- Identifiable information: name, address, contact details, date of birth, and government-issued identification numbers (such as PAN, Aadhaar).
- Financial details: bank account information, UPI transaction data, and loan account data.
- Transactional information: records of payments, repayment schedules, and correspondence related to our services.
Any sensitive personal data is handled in accordance with applicable laws and industry standards.
Length of Data Storage
Customer data is retained for as long as is necessary to fulfill the purpose for which it was collected or as required under applicable law or regulatory guidelines. Typically:
- Data linked to transactions is stored for 8 years after the conclusion of the contractual relationship, in line with regulatory requirements.
- Customer data not linked to any ongoing services is securely destroyed within 5 years of the termination of services.
Restrictions on Use of Data
Customer data is processed only for purposes outlined in this Policy, such as servicing customer accounts, ensuring regulatory compliance, and improving service offerings.
Sharing customer data with third parties is strictly limited to authorized purposes and entities, including regulatory requirements, after obtaining explicit
Data Destruction Protocol
Upon termination of the customer relationship or after the storage period expires, data shall be removed using secure deletion techniques, including data sanitization and/or destruction of physical media.
Data destruction is conducted ensuring compliance with applicable data privacy laws and minimizing the risk of unauthorized access.
Standards for Handling Security Breaches
We have stringent security measures in place to prevent security breaches, including encryption, firewalls, secure access protocols, and periodic audits.
In case of a breach, the following steps are taken:
- Immediate identification and containment of the breach.
- Notification to affected customers and relevant authorities within the timeline prescribed by applicable privacy laws.
- Full investigation to understand the root cause and implement remedies to prevent recurrence.
Any breach is managed as per IT Act guidelines and in alignment with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011.
For deleting your Personal data, you can reach out to us on info@lendigo.in from your registered email address. However, such deletion shall be subject to any data retained under any legal or regulatory requirements.
SECURITY
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, 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 bank-grade secure SSL communication channels. The Personal Information is stored on Amazon Web Services (AWS) cloud unauthorized hacking, virus attacks, technical issues could be possible, though we shall take all the care and caution to protect the data to atleast the limit of care and precaution accorded to our own data.
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.
ACCESSING AND MODIFYING PERSONAL INFORMATION
In case you need to access, review, revoke and/or make changes to the Personal Information, you shall have to login to your User Account and change the requisite details. You shall keep your Personal Information updated to help us better serve you.
ANCILLIARY SERVICES
We may provide you with certain ancillary services such as chat rooms, blogs and reviews for the Services. Subject to any applicable laws, any communication shared by you via the Platform or through the blogs, reviews or otherwise to us (including without limitation contents, images, audio, financial information, feedback etc. collectively Feedback) is on a non-confidential basis, and we are under no obligation to refrain from reproducing, publishing or otherwise using it in any way or for any purpose. You shall be responsible for the content and information contained in any Feedback shared by you through the Platform or otherwise to us, including without limitation for its truthfulness and accuracy.
Sharing your Feedback with us, constitutes an assignment to us of all worldwide rights, titles and interests in all copyrights and other intellectual property rights in the Feedback and you authorize us to use the Feedback for any purpose, which we may deem fit.
COMMUNICATIONS FROM THE PLATFORM
your privacy, we present you with the option of not receiving these types of communications. You may unsubscribe via the unsubscribe mechanism provided in each such communication or by emailing us at info@lendigo.in
