Mahindra and Mahindra Financial Services Limited, a company incorporated under the provisions of the Companies Act, 1956, having its registered office at Gateway Building, Apollo Bunder, Mumbai, Maharashtra – 400001 and having corporate identity number L65921MH1991PLC059642 (hereinafter referred to as “MMFSL”/ “We”/ “us”), is committed to upholding the privacy and security of the Personal Information (as defined below) supplied by every Customer (as defined below) (either directly to MMFSL or on the App (as defined below) by Customer (as defined below), or through the Representative (as defined below) / the MMFSL Representative (as defined below) / Customer (as defined below), as the case may be).
1. Definitions and Interpretation
“App” means MMFSL’s application/software program, including Website/any other MMFSL website or microsite, as may be updated / modified from time to time and as may be used and accessed by the Representative(s) / MMFSL Representative / Customer, as the case may be, on any compatible device, in relation to any Facility sought to be availed by you;
“CIC” or “Credit Information Company” means an entity which has been granted a certificate of registration under sub-section (2) of Section 5 of the Credit Information Companies (Regulation) Act, 2005;
“Customer” / “You” means any person being an existing or potential customer / borrower of MMFSL, who is desirous of availing any Facility(ies) offered by MMFSL. The term “your” shall be construed accordingly;
“Customer Data” means, collectively and individually, any and all data or information obtained with consent from your mobile device like device location, device information (including storage, model, installed apps, wifi, mobile network) transactional and promotional SMS, communication information.
“Facility” means any services and/or products, including any loan, financial assistance facility, or credit line, offered by MMFSL, including but not limited to personal loan;
“Indicative Amount” shall mean the tentative amount, as determined by MMFSL at its sole discretion, which the Customer may be preliminarily eligible for under the Facility, on an indicative basis. It is clarified that this Indicative Amount is only an estimate, and is subject to final assessment and approval by MMFSL at its sole discretion;
“MMFSL Representative” means a Representative of MMFSL’s engaged by it to carry out the assessment of the Customer’s request for a Facility, and to undertake the subsequent onboarding of such Customer, if applicable;
“Representative” means any employee, official, personnel, representatives, service provider, agents, or contractors, whether third party or otherwise, that are employed or engaged by MMFSL;
“Personal Information” shall have the meaning assigned to it in Clause 2.1 below;
“SDK” means software development kit.
1. words of any gender are deemed to include those of all genders, and the words importing singular shall include plural, and vice versa;
2. references to “persons” shall include any individual, sole proprietorship, unincorporated association, body corporate, company, partnership, government authority, trust or any other entity or organization;
4. reference to any legislation or law or to any provision thereof, shall include references to any such law as it may, after the date hereof, from time to time, be amended, supplemented or re-enacted, and any reference to statutory provision shall include any subordinate legislation made from time to time under that provision; and
5. reference to the word “include” or “including” shall be construed without limitation.
2. Personal Information
2.1. “Personal Information” means and includes any information that relates to an identified or identifiable natural person, who can be identified, directly or indirectly, in combination with other information available with us, and is capable of identifying such person, including but not limited to the following:
(a) name, surname, date of birth, age, sex, nationality, father’s name, mother’s name, spouse’s name, Customer’s photograph for identification;
(b) residential address (permanent and current), email address, telephone number, mobile number;
(c) details linked to credit/debit payment instruments;
(d) any details that may have been voluntarily provided by the Customer, whether to the Unique Identification Authority of India (UIDAI), Credit Information Bureau of India Limited (CIBIL) or any Credit Information Companies;
(e) bank or payment card details and any proof of your identity and/or address that we may request;
(f) details of any transactions you carry out through our application using your MMFSL account and of the fulfilment of your requests (if applicable);
(g) details of any bank account (including but not limited to, account holder, account name, account number;
(h) details of any credit, debit or other card used by you for transactions;
(i)your participation in any promotion sponsored by us;
(j) correspondence that you send us or receive from us;
(k) surveys that you complete through the App or based on our request;
(l) your IP address, log-in times, operating system and browser type; and / or
(m) details of your onboarding / your account creation on the App, including, but not limited to, traffic data, location data, weblogs and other communication data, whether this is required for our own billing purposes or otherwise and the resources that you access whilst visiting our Website;
(n) credit score / rating, credit information, type of employment, monthly income, details of the loan / Facility type and loan amount applied for, found eligible for, approved (tentative and final), availed / to be availed, repayment schedule;
(p) employment status and type – Salaried/self-employed/professional etc.;
(q) marital status;
(r) monthly salary / income (as applicable);
(s) any surrogate document “type” that Customer would like to provide (e.g., salary slip, GST, etc. – just a type will be selected, and no document is required to be shared / uploaded at this stage).
2.2. Information Collected from You
In order for usage of App for MMFSL to carry out your eligibility check for an Indicative Amount under the Facility and if applicable, onboarding, or for MMFSL to render the Services to you, the Representative / MMFSL Representative / App, as the case may be, may ask you to provide certain Personal Information for it to be uploaded on / entered into the App. You are under no obligation to provide the Personal Information that the App asks for. However, please note that if you do not provide your Personal Information, MMFSL may not be able to check your eligibility for an Indicative Amount.
In case of Android Users: we will be collecting the following information from you: SMS, Location, Device Data, App Data. We will also require storage permission and camera access, as mentioned below.
In case of ioS Users: We will also require storage permission and camera access, as mentioned below.
Collection Of SMS Information (if applicable)
We don’t collect, read or store your personal SMS from your inbox. We collect and monitor only transactional SMS sent by 6-digit alphanumeric senders from your inbox which helps us in identifying the various bank accounts that you may be holding, cash flow patterns, description and amount of the transactions undertaken by you as a user to help us perform a credit risk assessment which enables us to determine your risk profile and to provide you with the appropriate credit analysis. This process will enable you to take financial facilities from the regulated financial entities available on the Platform. This financial SMS data also includes your historical data. This data is used to understand your income, spending patterns which help us in the credit evaluation and help us in facilitating higher limits, faster approval rates. We do not read any personal or OTP messages.
Collection Of Device Location And Device Information (if applicable)
We collect and monitor the information about the location of your device, on a one-time basis for MMFSL to provide serviceability of your loan application for the purpose of on-boarding / KYC process, to reduce risk associated with your loan application and to provide pre-approved customised loan offers. This also helps us to verify the address, make a better credit risk decision and expedite know your customer (KYC) process. Information the App collects, and its usage, depends on how you manage your privacy controls on your device. When you install the App, we store the information we collect with unique identifiers tied to the device you are using. We collect information from the device when you download and install the App and explicitly seek permissions from You to get the required information from the device. The information we collect from your device includes the hardware model, build model, RAM, storage; unique device identifiers like IMEI, serial number, SSAID; SIM information that includes network operator, roaming state, MNC and MCC codes, WIFI information that includes MAC address and mobile network information to uniquely identify the devices and ensure that no unauthorized device acts on your behalf to prevent frauds.
Collection Of Installed Applications (if applicable)
We may, with your permission, during usage of the App, collect a list of the installed applications metadata information which includes the application name, package name, installed time, updated time, version name and version code of each installed application on your device to assess your credit worthiness and enrich your profile with pre-approved customized loan offers.
We require storage permission so that your KYC and other relevant documents in relation to your account and / or the loans (including but not limited to the statement of account for the loan, or any no dues certificate). Can be securely downloaded and saved on your phone. This ensures that you are provided with a seamless experience while using the application. You can then easily upload the correct KYC related documents for faster loan application details filling and disbursal process.
We require one time access to the camera to provide you an easy/smooth experience and to enable you to click photos of your KYC documents along with other requisite documents and upload the same on the App during your loan application journey.
Collection of Other Non-Personal Information
Link To Third-Party SDK
The App may have a link to registered third party SDKs, which will be disclosed to You, which may collect data on our behalf and store data on a secured server to perform a credit risk assessment. We would ensure that our third party service provider(s) take extensive security measures in order to protect your personal information against loss, misuse or alteration of the data. Our third-party service provider shall employ separation of environments and segregation of duties and have strict role-based access control on a documented, authorized, need-to-use basis. The stored data will be protected and stored by application-level encryption. They will enforce key management services to limit access to data. Furthermore, our registered third party service provider shall provide hosting security – they will use industry-leading anti-virus, anti-malware, intrusion prevention systems, intrusion detection systems, file integrity monitoring, and application control solutions.
2.3. Use of Personal Information
2.3.2. We will process your Personal Information for the following purposes:
(a) We use Personal Information to confirm your eligibility for the Facility(ies) that you have applied for / approached the Representative / MMFSL Representative, as the case may be, for, or may have explicitly requested MMFSL for, or to resolve disputes, troubleshoot concerns, help promote safe services, assess your interest in our services, inform you about offers, products, services, updates, to customize your experience, detect and protect us against errors, fraud and other criminal activity, enforce our terms and conditions;
(b) We may also use your Personal Information to send you offers regarding various product, services and / or facilities which MMFSL or its affiliates or group companies may, from time to time, offer. We may occasionally also ask you to complete optional online surveys. These surveys may ask you for you contact information and demographic information (like zip code, age, gender, etc.). Should you choose to take such survey(s), we may use this data to customize your experience at MMFSL. You hereby provide us your express consent to use your Personal Information to contact you with offers and ask you to take surveys, as mentioned above;
(c) to make this App and MMFSL’s services available to you and to further optimize and develop this website;
(d) to create App usage statistics;
(e) to assess and improve your user/customer experience on the App;
(f) to be able to recognize, prevent and investigate attacks of this App;
(g) to communicate with you;
(h) to enforce our terms and conditions;
(i) to comply with legal obligations; and
(j) as otherwise described to you at the time of collection of your Personal Information.
MMFSL will not use or share your Personal Information and will not disclose the same to any third party(ies), save and except in the following events;
(b) otherwise, where it is pursuant to obtaining the Customer’s permission;
(c) where it is in connection with a disclosure to financial institutions and banks, in which case, the Customer hereby gives his / her / its express permission to MMFSL for such disclosure;
(d) where it may become necessary for MMFSL to disclose the Personal Information to its Representatives (including MMFSL Representative), agents, other service providers and contractors (which includes but is not limited to KYC repository service providers, data storage agencies, marketing and collection agents, any assigns to whom MMFSL intends to grant any right or obligation of MMFSL) or the Representative, in each case, on a need basis, in the course of normal business operations or otherwise for rendering services to the Customer, to facilitate MMFSL in providing the services and Facilities to its customers. The aforesaid persons shall be informed by MMFSL that the Personal Information shall not be used for any purpose except as mentioned herein;
(e) where it is in connection with the services being rendered through the App;
(g) where it is a case of special circumstances such as compliance with court orders, requests/order, notices from legal authorities or law enforcement agencies compel us to make such disclosure;
(h) where it is required to be disclosed pursuant to any law, regulation, rule or any regulatory or statutory compliance;
(i) for the purposes mentioned in Clause 3 below;
(j) where it forms part of the information MMFSL shares with advertisers on an aggregate anonymised basis;
(k) where it may also be disclosed to a third party as part of any organizational restructuring; and/or
(l) with other entities affiliated with us primarily for business and operational purposes. As far as this is necessary for the purposes set out above, we will transfer your Personal Information to the following recipients:
1) IT service providers or third-party service partners that we use;
2) Public authorities (which includes government agencies, law enforcement and other public authorities which may include such authorities outside your country of residence.)
We only transfer your Personal Information to recipients that have an adequate level of data protection, or we take measures to ensure that all recipients provide an adequate level of data protection.
3. Terms regarding KYC and CIC
3.1. The Customer hereby gives its express consent to MMFSL to (directly and / or through its Representatives) search, download, upload/share information with the Central KYC registry, and further consents to receiving information through SMS/e-mail on the mobile number/e-mail id of the Customer registered with MMFSL, for the purpose of KYC compliance.
3.2. The Customer further gives its express consent to and authorises MMFSL:
(a) to obtain and / or submit the Customer’s information (including Personal Information, Facility related information) from / to Credit Information Company and/or information utility and/ or such institution set up under the provisions of law from time to time, as and when required;
(b) for obtaining/authenticating/verifying the Customer’s KYC details from CERSAI C-KYC portal / Aadhaar e-KYC / National Securities Depository Limited (NSDL) / any other service provider/ organization as deemed fit by MMFSL, in relation to the facilities / services offered by it and permitted by the Reserve Bank of India. The Customer understands that as per directions of the Government of India, its KYC information may be created / updated by MMFSL in Central KYC Registry;
(c) to use its Aadhaar Number and/or biometric/demographic information to verify its details from UIDAI. The Customer also provides its consent for e-KYC/offline verification for considering the current address of residence, if the said address is different from the address updated in Aadhaar. The Customer further authorizes and gives its consent to MMFSL to share and disclose any/all information as received KYC from UIDAI/information furnished by the Customer with credit bureaus/statutory bodies/subsidiaries/affiliates/Credit Bureaus/Rating Agencies, services providers, banks/financial institution, governmental/regulatory authorities or third parties for KYC information verification, credit risk analysis, or for other purposes in relation to the Facility availed / to be availed by the Customer.
A “cookie” is a small piece of information stored by a web server on a web browser so it can be later read back from that browser. MMFSL uses cookie and tracking technology depending on the features offered. No Personal Information / data / details will be collected via cookies and other tracking technology; however, if you have previously provided personally identifiable information, cookies may be tied to such information. Aggregate cookie and tracking information may be shared with third parties.
MMFSL reserves the right to collect the Customer Data and use the same for granting the Facilities. MMFSL may also require a one-time access for camera, microphone, location of your phone for the purpose of on-boarding and KYC for the Facility. You are requested to provide your consent to MMFSL, when requested, to enable MMFSL to carry out such activities.
5. Password Policy
Do help us protect your privacy by maintaining the confidentiality of the username and password (if you use the same for any of our services).
6. Retention of Data
We are required under applicable laws to retain certain records for a period of at least 5 (five) years after closure of your MMFSL account, which will include your personal data such as your name, contact details, customer number and transaction history, etc. (“Retained Data”). We will, in any case, retain your Personal Information for as long as there are statutory retention obligations or until potential legal claims are not yet time-barred. Other than the Retained Data, we will delete and destroy all Personal Information that we hold about you when you (or we) terminate your MMFSL account.
We do not ask for or store your online banking login PIN, TAN and/or password. Please do not share the same with the Representative or with any MMFSL Representative, as the case may be.
8. Anti-Money Laundering Policy
8.1. report such transaction to the applicable central, state, provincial or local authorities and law enforcement agencies;
8.2. de-activate or terminate your MMFSL account forthwith; and
8.3. restrict you from registering a MMFSL account on or with our website / App or any of our affiliated websites.
9. Third-Party Links and Content on Our Services
The App may have links to third-party websites and services that are outside our control. Further, MMFSL, its group companies, its affiliates, and their directors and employees (collectively, “MMFSL Group”) accept no liability and will not be liable for any loss or damage arising directly or indirectly (including but not limited to any special, incidental or consequential, punitive, or exemplary loss, damage or expenses) from the use of the App (through the Representative / MMFSL Representative, as the case may be, or otherwise) or your data being stored / uploaded on the App or any site or inability to use by any party, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, omission, interruption, imperfection, fault, mistake or inaccuracy with any mobile or online application, its contents (material, information, data, money market movements, news items, etc.) or associated services, or due to unavailability of any application or any part thereof or any contents or associated services, even if MMFSL Group are advised of the possibility of such damages, losses or expenses.
10. Intellectual Property Rights
Please note that MMFSL retains all rights towards copyrights, trademarks, patents as well as any other intellectual property right, in relation to all information on the App (including all texts, graphics, and logos), but excluding your Personal Information.
SMS Consent: You consent and provide permission to the App to collect your transactional SMS data like sender names, SMS body, received time and transmit the data to third parties.
Phone Consent: You provide your consent to collect and monitor specific information about your device including your hardware model, operating system and version, unique device identifiers like IMEI (International Mobile Equipment Identity) and serial number, user profile information to uniquely identify the devices and ensure that unauthorized devices are not able to act on your behalf to prevent frauds.
Apps Consent: You provide your consent to collect details of your installed applications to understand your profile. This helps us give quicker approvals and higher credit limits.
We may use third party website/application analytics services in connection with the App. These application analytics services do not collect information that you do not voluntarily enter into / provide to be entered on the App. These services do not track your browsing habits across websites which do not use their services. We are using the information collected from these services to find usability problems, if any, to make the App more efficient in our endeavour to render services to you. The analytics will be anonymised, and the recordings will never identify you or your account.
Kindly note that MMFSL does not collect Personal Information about individuals, except when such individuals specifically provide such information on a voluntary basis. Upon such voluntary disclosure of Personal Information, we may further verify, collate or receive information about you from publicly and commercially available sources (as permitted by law), which we may combine with other information we receive from you. We may also receive information about you from third-party social networking services, if you are already connected with those services. MMFSL shall, at all times, ensure to implement reasonable security practices and procedures (such as managerial, operational, physical and technical) for the purpose of protection and safeguarding of your Personal Information and information as the same is of vital importance to MMFSL. At MMFSL, we are strongly committed to protecting the personal and financial information that you submit to us. Personal Information of individual users will not be sold or otherwise transferred to unaffiliated third parties without your approval at the time of collection. However, please note that although we take reasonable steps to protect your information, no website, internet transmission, computer system or wireless connection is completely secure.
Your information / inputs / queries are required to serve you better and the same shall not be shared with anyone without your consent. However, we may disclose your Personal Information to agents or contractors of MMFSL and/or its group companies/affiliates to enable processing of transactions or communications with you “on need” basis. Your aforesaid information may be further used for assessment and analysis of our market, customers, products, and services and to understand the way people use our services so that we can improve them and develop new products and services. However, it shall be on the basis that the agents are required to keep the information confidential and will not use the information for any other purpose other than to carry out the services they are performing for MMFSL and/or its group companies/affiliates.
14. Customer Communication
The Customer hereby gives its express consent to receive communications and to be contacted / notified, from time to time, through any Communication Mode(s) at any contact number, physical and / or electronic address provided by the Customer (either at the time of registering the Customer’s Account / onboarding on the App, or as may be updated thereafter) by us, our Representatives, affiliates, MMFSL Group and / or anyone authorised by us to communicate with the Customer on our behalf, in relation to the Customer’s account with MMFSL (if any), the services or products availed / sought by the Customer, or otherwise in relation to the products, services, facilities or offers provided by MMFSL, including but not limited to any communications in the nature of updates, notifications, reminders for repayment of the loan / facility / EMI / outstanding dues, information, alerts and updates, to be provided to the Customer.
For the purposes of this Policy, the term “Communication Mode,” shall mean any one or more modes that may be used for communicating with, updating or / notifying the Customer, in any form or manner, including without limitation, electronic mails, SMS messages (including text messages), calls using pre-recorded messages or artificial voice, calls, messages delivered using auto telephone dialing system or an automatic texting system, messages via WhatsApp Messenger, and notifications sent via the App. The following shall also be construed as a valid communication by MMFSL: (a) automated messages that may be played when the telephone call made to a phone / mobile number provided by the Customer, is answered by the Customer or anyone else; and / or (b) in the event that an agent or Representative calls, he or she may also leave a message on the Customer’s answering machine, voice mail, or send a message via SMS.
From time to time, MMFSL may monitor and/or record telephone calls and other Communication Modes between MMFSL and the Customer, to ensure the quality of MMFSL’s customer service. The Customer hereby agrees and grants its consent to MMFSL for the same.
The Customer certifies, warrants and represents that the telephone numbers, mobile number, postal address and/or email addresses and any other information that Customer has provided to the Representative / MMFSL Representative, as the case may be, are their own and not someone else’s, and are true, accurate, current and complete. The Customer represents that they are permitted to receive calls, emails, posts at each of the telephone numbers, email addresses and postal addresses they have provided us. The Customer agrees to notify us whenever they stop using a particular telephone number(s), mobile number, postal and/or email address(es).
15. Other Terms
You explicitly understand and confirm that:
(a) that the eligibility check for the Indicative Amount is preliminary in nature, and does not constitute final approval by MMFSL to grant the Facility to you;
(b) MMFSL is under no obligation to sanction any Facility to you. MMFSL, at its sole and absolute discretion, may reject any application / request for the Facility, on the basis of MMFSL’s credit norms, eligibility criteria and approval process, and MMFSL shall neither be responsible to provide any reasons for any rejection / acceptance nor be liable in any manner whatsoever for such rejection. You reserve no right to challenge or appeal against such decision of MMFSL or to request / demand a reason for such rejection;
(c) by requesting to avail the Facility, or by furnishing the requisite Personal Information, you are not / will not automatically be entitled to avail the Facility; and
(d) that no commitment is made to you in regard to the grant of the Facility.
16. Your Rights in Connection with Your Personal Information
We respect your right to access and control your Personal Information, and we will respond to requests for information and, where applicable, will correct, amend, or delete your Personal Information. These rights can be exercised by you, as per the applicable data protection law. Please note that applicable law might require that we cannot comply with every request. For example, we will be required to retain your Personal Information due to statutory retention requirements despite your request for erasure.
You have the following rights:
. Right to access: You have the right to confirm if we hold any Personal Information about you and obtain a copy of the Personal Information about you that is held with us.
. Right to withdraw consent: If you have consented to our processing of your Personal Information, you may revoke that consent at any time, effective going forward, by contacting us. This includes cases where you wish to opt out from marketing messages that you receive from us via the App. However, opting out will result in immediate cessation of services and no further collection of data will be done on a going forward basis.
. Right to rectification: You have the right to have information held about you corrected if it is not accurate or complete.
. Right to erasure: You can also request to erase the Personal Information (including from the App) that is no longer necessary for the purpose for which it was processed, unless retention is necessary for a legal purpose.
. Right to restriction of processing: You have the right to restrict processing of your information, however exercising this right may not enable us to fulfil your service requests and ensure service performance.
. Right to object: You have the right to object to receive marketing communications from MMFSL by choosing to opt out of all marketing communications.
. Right to lodge a complaint: You have the right to complain about the processing activities carried out by us before the competent data protection authorities, as applicable under your region-specific data protection law.
. Right to restrict disclosure: You have the right to restrict disclosure by us of your Personal Information to a third party, except as required by us pursuant to any applicable law.
For exercising any of your rights mentioned above, you can write to us at firstname.lastname@example.org. We will need you to respond with proof of your identity before you can exercise these rights. MMFSL may not be able to process any requests made in the event the user fails to identify themselves or if MMFSL is unable to authenticate such a user. MMFSL may also decline to process requests that are unreasonably repetitive, requiring disproportionate effort, jeopardizing the privacy of others, or would be extremely impractical. You understand that the withdrawal of your consent as mentioned above will not affect your Personal Information that has already been processed prior to the withdrawal of your consent.
MMFSL shall not charge you for fulfilling any of the above requests. However, if the fulfilment of any such request leads to certain costs being incurred by MMFSL, then MMFSL will notify you prior to processing such request.
17. Grievance Officer
In accordance with the Information Technology Act, 2000 and rules made thereunder, the name and contact details of our Grievance Officer are provided below:
Name: Mr. Trilok Singh
Address: Mahindra & Mahindra Financial Services Ltd Mahindra Towers, 4th Floor, P. K. Kurne Chowk, Worli, Mumbai- 400 018.
Direct Number: 022 6652 3813
(Mon – Fri, 9am to 5pm) Toll free:1800 233 1234 (Mon–Sat, 8am to 8pm)