Effective Date: [November 2, 2023]
Laxmi Finance (“we,” “us,” or “the Company”) is committed to protecting the privacy and security of your personal and financial information. This Privacy Policy details the types of information we collect, how we use it, how we protect it, and your rights concerning your data.
1. Information We Collect
To provide our financial services, we collect various types of information, including:
Personal Identification Information (PII): Name, date of birth, address, email address, telephone number, photographs, and government-issued identification numbers (e.g., Aadhar, PAN).
Financial Information: Bank account details, credit/debit card information, income statements, credit history, loan repayment records, and transaction history.
Employment Information: Occupation, employer’s name, salary, and employment history.
Technical and Usage Data: IP address, device identification, browser type, operating system, and data collected through cookies regarding your use of our website or mobile application.
Credit Information: Data obtained from Credit Information Companies (CICs) or similar credit bureaus to assess your eligibility for loans and other financial products.
2. How We Collect Information
We collect information through the following methods:
Direct Interaction: When you apply for a loan, open an account, fill out forms, or communicate with our customer service.
Automated Technology: Through cookies and tracking technologies when you use our website or mobile app.
Third Parties: From credit bureaus, regulatory bodies, fraud prevention agencies, and identity verification services.
3. Use of Your Information
We use the collected information for the following primary purposes:
Processing and Service Delivery: To evaluate your loan or service application, process transactions, manage your accounts, and provide customer support.
Risk Assessment and Underwriting: To assess creditworthiness, verify identity, and manage financial risk and security.
Compliance and Legal Obligations: To comply with legal, regulatory, and statutory requirements, including Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
Service Improvement: To analyze usage patterns, troubleshoot problems, and improve the quality and features of our financial products and digital platforms.
Marketing and Communication: To inform you about products, offers, and services that may be of interest to you.
4. Data Protection and Security
We maintain strict physical, electronic, and procedural safeguards to protect your information.
We use industry-standard encryption protocols for data transmission and storage.
Access to your personal and financial data is restricted to authorized employees, agents, and service providers who need the information to perform their specific duties.
We regularly review our security procedures and implement new technologies as needed.
5. Sharing and Disclosure of Information
We will not sell or rent your personal data. We may share your information with:
Service Providers: Third-party vendors who assist us with identity verification, payment processing, data analytics, and collection efforts.
Credit Bureaus: Credit Information Companies (CICs) to report loan performance and facilitate credit checks.
Regulatory Bodies: Government authorities, law enforcement agencies, and regulators when required by law or to respond to legal processes.
Affiliates: Other entities within the Laxmi Finance group for internal business purposes and cross-selling, provided such sharing is compliant with applicable laws.
6. Your Rights
You have the right to:
Access your personal data held by us.
Request correction of any inaccurate or incomplete data.
Withdraw consent for the use of your data, subject to legal or contractual restrictions.
7. 📢 Notification and Communication Consent
By accepting this policy, you acknowledge and consent to receive notifications and promotional communications from us through various channels, including but not limited to email, mobile push notifications, SMS, RCS (Rich Communication Services), WhatsApp, or any other digital communication platforms.
If you prefer not to receive such updates or marketing communications, you may opt out by contacting us at info@laxmifinance.shop.
