This document was last updated on 02/12/2024.
This Privacy Policy should be read in conjunction to the Site Terms of Use, Credit Report Terms of Use and Disclaimers of the Site and shall collectively be referred to as “Agreement” between the User and BFDL.
This document (“Privacy Policy”) is published in compliance with the provisions of Information Technology Act, 2000 (as amended from time to time), and Applicable Laws, as amended from time to time.
In this policy,
- "Affiliates" means, in relation to any person, any entity that directly or indirectly controls, is controlled by, or is under common control with, the person, where the term ‘control’ shall have the meaning assigned to it in the Companies Act, 2013, as amended from time to time; and
- "Applicable Laws" includes any applicable constitution, statute, law, rule, regulation, ordinance, decree, order, judgement, authorization, or any directive, guideline, requirement or government restriction having the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial authority, whether in effect as of the date of the Agreement or thereafter and each as amended from time to time within the jurisdiction of India.
- “Bureau” shall mean credit information company which is authorized under Applicable Laws of India to provide comprehensive credit information by collecting, collating and issuing credit information, pertaining to both commercial and consumer borrowers, to a closed user group of members. In relation to provision of the Services mentioned herein;
- “Credit Report Terms of Use” shall mean the terms of use, pertaining to the credit information company and relevant terms of the Site, for enjoying the Services of availing the credit report as offered on the Site. Such Credit Report Terms of Use shall always be read with Site Terms of Use, Privacy Policy and Disclaimers of the Site.
- "Partner" means banks, nonbanking financial institutions, housing finance companies, insurance companies, fintech companies, Bureau and such other financial institutions which are regulated by RBI, SEBI, IRDA either directly or indirectly etc.. whereas BFDL has an arrangement with them for offering their products on the Site.
- “Site” means any web site, mobile site, or application, owned and operated by us ;
- “Service” means using our products, software, services, as available on our Site and any products offered by our Partner’s on our Site;
- “Service Provider” means any authorized Service Provider engaged by BFDL thereby enabling us to offer Services on Site.
- “We,” “us,” and “our” means Bajaj Finserv Direct Limited (“BFDL”);
- "I", “You”, “your” and “User” mean anyone who visits, accesses, or uses our Site or obtains Services from us through our Site.
BFDL intends to protect the privacy of its Users on its Site and committed to maintain the confidentiality, integrity, and security of all Information of our Users provided by them to BFDL from time to time. This Privacy Policy describes how BFDL collects and handles the information it may collect and/or receive from you via the use of this Site. Please see below for details on what type of information we may collect from you, how that information is used in connection with the Services offered on our Site and relevant Information shared with our Partners and Service Providers, only for the purpose of Services offered by us. This Privacy Policy applies to all current and former Users and by visiting and/or using our Site, and you agree to this Privacy Policy. We encourage you to read privacy policy for better understanding on the information which we collect and how we use this information.
BY VALIDATING YOUR MOBILE NUMBER THROUGH OTP AT THE TIME OF REGISTRATION OR AVAILING THE SERVICES, YOU ARE ACCEPTING THIS PRIVACY POLICY AND FURTHER, YOU EXPLICITLY CONSENT TO BFDL’s COLLECTION, STORAGE, RETENTION, ANALYSIS, USE AND DISCLOSURE OF YOUR INFORMATION IN ACCORDANCE WITH THIS PRIVACY POLICY AND APPLICABLE LAWS.
BFDL may, for the purpose of rendering its Services, collect personal information and financial information such as:
1. For the purpose of registering on our Site, you are required to furnish information including Mobile Number, Date of Birth, OTP validation, Full Name, Email ID, and other details shared via application form or via email or via any other medium
2. BFDL may collect additional information on the basis of type of product you choose and Services we render to you. We assure you that the information collected/stored/processed/shared shall be solely for the purpose for which it has been collected. All representation of information, facts, concepts, opinions, or instructions and data about an individual who is identifiable by or in relation of such data collected/stored/processed/shared shall therefore be collectively known as “Information”.
3. For the purpose of rendering our Service, we may collect additional Information including Name, Gender, Residential/correspondence address, Telephone number, DOB, Marital status, Email address, Aadhaar, PAN, KYC Status, Signature/ Digital Signature, Photograph, Bank Account or other payment instrument details and other details required for providing the services availed by you.
4. In addition to the Information made available to us, we may seek your one-time explicit consent and request access to your Location, camera, microphone or any other facility necessary for the purpose of on-boarding/KYC requirements. Upon granting the consent for access to your Location, camera, microphone, if at any time, you wish to deny access to the above-mentioned consent in future you may do so from the settings of your mobile device. In case you withdraw given consents, we assure you that BFDL shall not have any access to your Information prospectively.
5. Information exchanged between you and BFDL in the form of written communication, responses to emails, feedback required from you, participation in discussions, etc. is handled with confidentiality.
6. PURPOSE: We collect/obtain your Information for the purposes mentioned herein below:
- To provide the Services availed by you;
- To market new financial products and services by BFDL or by any of its group companies, affiliate(s), Partners;
- To intimate you about any new products, services, offers and/or promotions being offered by BFDL or any of its group companies, Affiliate(s) or Partners;
- To recommend suggestions related to availed services on the basis of your Information collected.
We provide a unique user code to every user, where we keep all collected Information related to the User and further, we use that Information on the basis of the purpose required.
1. BFDL offers online platform for offering financial products and services to you and to carry out the transaction that collects such Information to process your transaction requests. The Information so collected may be shared with respective Partners/Affiliates/Service Providers. for offering the Services and the purposes as mentioned hereinabove. BFDL will endeavour to take all reasonable steps to ensure that the confidentiality of your Information is maintained by imposing strict confidentiality standards on all the Service Providers to whom it discloses such Information.
2. We and our Partners/Affiliates/Service Providers may share/transfer/convey some or all of your Information with another business entity to carry out any business activity related to the Services and products offered/to be offered to you.
3. BFDL may share your Information with its Service Providers, Partners and Affiliate(s) in accordance with Applicable Laws, for the purposes of (i) providing the Services and to perform the functions on your behalf or on behalf of BFDL; (ii) marketing new products and services by BFDL or by any of its Affiliate(s), Partners or (iii) to intimate you about any new products, services, offers and/or promotions being offered by BFDL or any of its Affiliate(s) and Partners.
4. BFDL shares Information with Partners and its Affiliates, in accordance with applicable laws, for providing certain services, we make available to you on our Site. We may provide Information related to those Services on our Site or redirect you to the Site of such third parties. Your Information shall be used/ processed/ stored by such third parties, in accordance with the services availed by you as per the terms and conditions of their respective terms. BFDL may not store any Information collected in this case and therefore, we are not bound to maintain confidentiality regarding the Information shared by you or collected by such third parties and further, we are not responsible for the use of such Information by the third parties. It is hereby expressly declared that third parties shall be solely responsible for use of your Information by them.
5. Changes in Policy - Due to changes in legislation or enhancements to functionality and content on the Site, we may make changes to Privacy Policy (without being obliged to do so) and would reflect those changes in this Privacy Policy statement. Hence, you are requested to go through the privacy policy statement on a regular basis. By using this Site, you consent to the usage of the Information that you provide to us in accordance with this Privacy Policy. If we alter our Privacy Policy materially, the alterations/ changes to this Policy will go into effect on posting this page. If you continue using the Site, you are consenting that your Information may be used in accordance with the new Privacy Policy. If you do not agree with the changes, then you should inform us that you do not want your Information used in accordance with the changes.
6. Security of Information shared by you - BFDL is strongly committed to protecting the privacy and security of its users and has taken all necessary and reasonable measures to protect the confidentiality and integrity of the user Information and its secure transmission through the world wide web. Protecting User’s Information is of utmost importance to BFDL, and it undertakes the following initiatives to secure the privacy and integrity of the User’s Information :-
BFDL implements various technical, physical and administrative controls to safeguard internal information.
Alongside conducting periodic internal and external penetration testing exercises, assessments, audits of systems, BFDL also adheres to multiple Regulatory and Statutory obligations mandated by RBI, SEBI, IRDAI.
BFDL is aligned to and certified with the ISO 27001:2022 Standard.
BFDL uses latest tools and techniques for data discovery which ensures that personal data of Users is tracked across all its assets and security of such data is maintained using data at rest encryption and masking methodologies.
BFDL has implemented access control measures across all its data assets to ensure that employees have access as per the principles of least privilege and need-to-know.
BFDL has implemented information security tools such as DLP, WAF and SOC /SIEM which help prevent data leakage outside its environment, monitor network across servers and protect its platform from external attacks and threats. We also ensure that all our systems, endpoints and infra has the latest patches that are always deployed post testing.
BFDL has a robust IT infrastructure and follows the core concept of defence in depth while designing and implementing different controls at different layers. In order to avoid a single point of failure, BFDL has implemented different tools from different vendors across different layers.
In all contractual arrangements, BFDL ensures compliance with appropriate standards from third party, agencies/service providers, with obligations to protect any information and apply appropriate security controls and safeguards wrt its use and transfer. Any acts involving unauthorized usage and sharing of information, breach of security procedures, usage of information for unlawful gain, or breach of confidentiality, BFDL warrants penalty as per master service agreements / contracts which may or may not lead to legal proceedings. Our responsibility is to keep you informed of our approach to information security and encourage your commitment to its successful implementation.
Handling of Security Breach
BFDL has an internal policy for incident reporting and management which is reviewed and updated from time to time which deals with framework for management of information security incidents at BFDL, including reporting of incidents, escalation procedures, and actions to contain the damage and recover systems and follow up investigative and corrective actions.
We may share your Information with the Government agencies & authorities in accordance with the Applicable Laws.
We retain your Information as long as the purpose of its usage exist, after which the same is archived or purged or deleted by us except in case where the retention is required as per Applicable Laws. Further, we inform you that we retain Information even after you withdraw your consent partially or wholly, for longer period of time, when necessary or required to be retained by Us, under various Applicable Laws.
In general terms, this will mean that your Information will be kept for the duration of our relationship with you and:
- the period required by under Applicable Laws; and
- as long as it is necessary for you to be able to bring a claim against us and for us to be able to defend ourselves against any legal claims. This will generally be the length of the relationship plus the length of any applicable statutory limitation period under Applicable Laws.
If you are desirous of having your details removed from the records of BFDL, on receiving your request in the BFDL Site, BFDL shall, subject to the extant acts, rules, regulations, supervisory body/ies guidelines, directions, circulars, notification, as amended from time to time/any statutory modification thereto, or re-enactment thereof, modify, remove and/delete such information. Once the requested action has been taken, BFDL will inform you via email or provide a response to your service request, as per the mode chosen by you.
By agreeing to avail the service offered by BFDL, you have agreed to the collection and use of your Information by BFDL. You always have the right to refuse or partially withdraw or completely withdraw your consent to share of your Information by raising a service request through Bajaj Markets App/ Customer Portal. However, in case you choose to opt for any such revocation/restriction, we may not be able to offer/serve you with various products/services that need us to have your consent for using/storing/sharing your Information in accordance with this Privacy Policy and in such case, we may have to withdraw/stop any such products/services being availed by you. Such request of withdrawal/revocation shall always be prospective and any Information shared with third parties basis the earlier consent may not be destroyed/purged in all cases.
The applicable laws require us to notify you regarding how we collect, use, and share your Information. Throughout this Privacy Policy we discuss in detail the specific pieces of Information we collect, how we use them and with whom we share those Information for the purposes mentioned herein.
Further, you are hereby informed that the following Information are sought/ have been obtained by us from you based on the products and Services opted by you on our Site:
Full Name
Date of Birth
Gender
Residential/correspondence address
Telephone number
One-time access to Location, camera, microphone for the purpose of onboarding/ KYC requirements
Marital status
Email address
Aadhaar (by following procedure under applicable law)
PAN
KYC Status
Signature/ Digital Signature
Photograph
Bank Account or other payment instrument details and
Other details which shall be require for providing services to YOU
The purpose of collecting the aforesaid listed Information is solely to cater smooth Services to you and such Information shall not be used for any other purpose whatsoever. We may disclose the categories of Information identified above for our operational purposes where the use is reasonably necessary and proportionate to achieve the operational purpose for which it was collected or processed, or for another compatible operational purpose.
Like most Sites, we use small bits of data called ‘cookies’ stored on user’s computers to stimulate a continuous connection. Cookies allow us storage of Information about your preferences and certain session Information that allow you to move to different pages of our secure Site without having to re-enter your Information. A cookie includes a unique identifier that is sent by a web server to the browser on your computer, mobile phone or any other internet enabled device when you visit an on-line Site. Cookies and similar technologies are widely used to make Sites work efficiently and to collect Information about your online preferences.
We use this Information to customize our services and measure the overall effectiveness of our online content, and products and services we offer through the Site. We use cookies for marketing purposes as well to track your online activity and to help advertisers deliver more relevant advertising or to limit how many times you see an ad. No personal information will be collected via cookies and other tracking technology; however, if you previously provided personal information, cookies may be tied to such Information. Any Information collected is stored in secure databases protected via a variety of access controls and is treated as confidential Information by us.
In case of any complaints, discrepancies, requests, or concerns with regard to use, processing, disclosure of Information with respect to your Information/ personal information or breach of terms of Site Terms of Use, Credit Report Terms of Use and Privacy Policy and/ or violation of Applicable Laws, you may contact the designated Grievance Redressal Officer. The Grievance Redressal Officer shall redress the grievances of the relevant individuals expeditiously and in any event within the period prescribed under law. Notwithstanding the above, BFDL reserves the right to decline to process any such request which may risk the security and confidentiality of the Information of others, as well as requests which are impractical or not made in good faith, or the circumstances as provided for under the law permitting BFDL to refuse such request(s).
Details of Grievance Redressal Officer is mentioned herein below:
Name: Rajeev Chauhan
Designation: National Manager – Customer Service & Experience
Contact No.: 020-71877021 (Monday to Friday - 10 AM to 6 PM)
Email Id: grievanceofficer@bajajfinservmarkets.in
Raise your Request/ Query/ Complaint by filling the form on https://www.bajajfinservmarkets.in/contact-us.html
