Bhawana Capital Private Limited Principles of Processing its Clients Personal Data (Privacy Policy)

Latest updated on May 18, 2023

Bhawana Capital Private Limited (formerly Bhawana Securities and Financial Services Limited) (“Bhawana”) is a Non-Deposit Taking Non-Banking Finance Company registered with Reserve Bank of India (“RBI”). The Company is presently in the business of providing short term loans and advances

These principles of Processing the Clients’ Personal Data (hereinafter also principles) describe how we, Bhawana Capital (hereinafter also we, us or our) process Personal Data of our Clients and any other Data Principals (hereinafter also you) in relation to the services and products we offer. These principles apply if you use, have used, have expressed an intention to use or are in any other way related to our products or services, or in case you have expressed your wish to receive any information about our products or services.

1. Definitions
1.1. Client – A natural person who uses, has used or has expressed an intention to use the products or services offered by Bhawana Capital or expressed a wish to receive information about Bhawana Capital products or services;
1.2. Contract – A contract concluded between Bhawana Capital and the Client;
1.3. Data Protection Regulations – Any applicable laws and regulations regulating the processing of Personal Data;
1.4. Data Principal – means a natural person to whom personal data relates;
1.5. Bhawana Capital – Bhawana Capital Private Limited, bearing CIN: U65100DL1995PLC071089 with registered office address situated at Unit No. 111, Aggarwal City Square, Plot No. 10, District Centre Manglam Place, Sector-3, Rohini, New Delhi-110085 and corporate office situated at The Executive Centre Level 18, One Horizon Centre, DLF5, Gurgaon-122002, India; phone: 0124-6687879; e-mail: [email protected];
1.6. Multitude Group – Bhawana Capital together with companies the majority shareholder of which is directly or indirectly Bhawana Capital’s parent undertaking Multitude SE (Finnish Trade Register code 1950969-1, address Ratamestarinkatu 11 A, Helsinki, Republic of Finland);
1.7. Personal Data – Any information relating to Data Principal;
1.8. Processing – Any operation or set of operations which is performed on Personal Data or on sets of Personal Data, whether or not by automated means, such as collection, recording, organisation, structuring, storing, adaption, alteration, retrieval, use, alignment or combination, indexing, disclosure by transmission, granting access to, making enquiries, transfer, viewing, restriction, erasure, destruction, etc.

2. Data Fiduciary
2.1. Bhawana Capital is responsible for the Processing of your Personal Data and for those reasons we are the data fiduciary.
2.2. As Bhawana Capital is a company established under the laws of Republic of India, then the Processing of your Personal Data shall be governed by the laws of India.

3. Collecting your Personal Data
3.1. Bhawana Capital collects your Personal Data in the following ways:
3.1.1. contact and communication data through communications made to us;
3.1.2. In case you apply for a loan or request other services or products from us, you provide your Personal Data directly to us or through the third party loan service provider authorised by us. We collect personal data from external sources. Such external sources include but are not limited to public and private registers which are used to identify you and verify your identity and perform credit and risk assessments;
3.1.3. By automatic means when you use Bhawana Capital website.

4. Personal Data Processed
4.1. Considering the financial nature of our services and products, Bhawana Capital Processes Personal Data collected for the following purposes:
4.1.1. concluding and performing the Contract with our Client. This includes properly identifying the Client and performing credit and risk checks and assessments on the Client to determine whether and on which conditions to conclude the Contract;
4.1.2. performance of our obligations arising from law; (e.g., anti-money laundering (AML) and terrorist financing rules and regulations to properly identify the Client (KYC) and ensure the trust- and creditworthiness of the Client);
4.1.3. safeguarding our rights (establishing, exercising, and defending legal claims);
4.1.4. assessing and developing further the quality of our services and products, e.g., customer support service and quality assurance service;
4.1.5. assessing the quality of our (potential) service providers services which enables us to evaluate and develop further the quality of the services and products we offer to our Clients;
4.1.6. internal record and statistics keeping;
4.1.7. security of the website to guarantee a safe consultation and secure interaction with our systems;
4.1.8. to ensure the best user experience;
4.1.9. the purposes you would have requested when providing your Personal Data to us.
4.2. For the foregoing, Bhawana Capital Processes the following Personal Data:
4.2.1. identification data (e.g., name, personal identification code, date of birth, place of birth, nationality, information about and copy of identification document, results of face/ID recognition, voice, picture, video, signature, address);
4.2.2. contact data (e.g., address, phone number, e-mail address, language of communication);
4.2.3. bank data (e.g., bank ID, account holder, account number, transaction information from your bank account, if you have consented to this);
4.2.4. professional data (e.g., current and former employer and position);
4.2.5. financial data (e.g., salary, income, assets, liabilities, properties, tax data);
4.2.6. data concerning origin of assets (e.g., data concerning employer, transaction partners, business activities and actual beneficiaries, data showing the source of your income and wealth);
4.2.7. data concerning creditworthiness/trustworthiness (e.g., data concerning payment behaviour, damages caused to Bhawana Capital or other persons, data that enables Bhawana Capital to perform the due diligence measures regarding money laundering and terrorist financing prevention and to ensure the compliance with international sanctions, including the purpose of the business relationship);
4.2.8. data obtained when performing an obligation arising from the law (e.g., information received from enquiries submitted by investigative bodies, tax authorities, courts and bailiffs, and Reserve Bank of India);
4.2.9. communications data (e.g., e-mails, phone call recordings);
4.2.10. data related to the products and services of Bhawana Capital (e.g., performance of the Contract or the failure thereof, transactions history, submitted applications, requests and complaints).

5. Specific consent
5.1. You consent and grant us authority to share your information with third parties to:
5.1.1. Provide the product or service you have requested;
5.1.2. To enable them to contact you or to certain service partners in order to respond to your queries/comments or to resolve service issues and to serve you better;
5.1.3. To collect information about you as set out in Section 3 and use the same for those purpose mentioned in Section 4.
5.2. By using our services you authorize us, our affiliates and our associate partners to contact you via email or phone call or SMS and offer you our products and services, imparting product knowledge, provide promotional offers running and offers by the associated third parties on their websites.
Irrespective of the fact if also you have registered yourself under DND or DNC or NCPR service, you still authorize to give you a call from Bhawana and its partners for the purposes mentioned above.

6. Disclosing the Personal Data
6.1. The financial nature of Bhawana Capital’s products and services require us to share your Personal Data to run our everyday business to process transactions, maintain customer accounts, and report to public institutions. We will always ensure to respect relevant financial industry secrecy obligations before sharing any Personal Data.
6.2. We only share your Personal Data with those carefully selected and trusted partners to whom Bhawana Capital wishes to entrust or has entrusted the provision of services and with the third parties performing functions delegated to them by law, if stipulated herein, required under the applicable law (e.g., when Bhawana Capital is obligated to share Personal Data with the authorities) or with your consent.
6.3. Bhawana Capital may share your Personal Data with the following partners and third parties:
6.3.1. Bhawana Capital cooperation partners with whom Bhawana Capital offers co-branded products and services for providing and marketing those services and products;
6.3.2. Personal Data processors and their sub-processors, e.g., legal and other advisors, data storage providers, telemarketing, marketing and surveys service providers, communication service providers, identification and certification service providers, card management service providers, invoicing and payment service providers, credit and financial institutions, bank data scraping, scoring and credit check service providers, online and offline intermediaries, IT service providers, etc.;
6.3.3. credit reference agencies who provide credit reports;
6.3.4. persons maintaining databases of defaulted payments;
6.3.5. debt collection agencies and bailiffs;
6.3.6. Bhawana Capital’s auditors and regulators;
6.3.7. other partners and third parties to which we may assign, pledge, or transfer our rights and obligations to the extent required or allowed under the legislation applicable to Bhawana Capital or according to the agreement concluded with you.

7. Protection of Personal Data
7.1. Bhawana Capital endeavours to maintain physical, technical, and procedural safeguards appropriate to the sensitivity of the Personal Data in question. These safeguards are designed to protect your Personal Data from loss and unauthorized access, copying, use, modification, or disclosure. Despite these safeguards, please note that no method of transmission over the internet or data storage is fully secure. Should we be required by law to inform you of a breach to your Personal Data, we may notify you electronically, in writing, or by phone.

8. Data retention
8.1. Bhawana Capital retains your Personal Data in accordance with industry guidelines for as long as necessary for the purposes for which they were collected, or for as long as necessary to safeguard our rights, or for as long as required by applicable legal acts, including but not limited to the norms prescribed under Prevention of Money Laundering Act, 2002. Kindly note that if the same Personal Data is Processed for several purposes, we will retain the Personal Data for the longest retention period applicable.

9. Your rights
9.1. To the extent required by applicable Data Protection Regulations, you have all the rights of a Data Principal as regards your Personal Data. This includes the right to:
9.1.1. request access to your Personal Data;
9.1.2. rectify inaccurate or incomplete Personal Data relating to you;
9.1.3. erase your Personal Data;
9.1.4. withdraw your consent where our Processing of your Personal Data is based on your consent;
9.1.5. Should you believe that your rights have been violated, you have the right to lodge a complaint with Bhawana Capital customer support at ([email protected]).
9.2. When requesting access to, or rectification of your Personal Data, please note that we shall request specific information from you to enable us to confirm your identity and right to access or rectify, as well as to search for and provide you with the Personal Data that we hold about you.
9.3. Kindly note that your right to access or rectify your Personal Data we hold about you is not absolute.
9.4. If we cannot provide you with access to, or rectification of your Personal Data, we will inform you of the reasons why, subject to any legal or regulatory restrictions. We can assure you we will not discriminate you for exercising any of your rights described in these Principles.
9.5. To exercise your rights, please contact Bhawana Capital on the contact details above.

10. Amending these principles
10.1. Should our Personal Data Processing practices change or there shall be a need to amend these principles under the applicable law, case-law or guidelines issued by competent authorities, we are entitled to unilaterally amend these principles at any time. Our most recent principles will always be published on our website, and we urge you to check this at least once a month.

11. Contact
11.1. In case you have any question regarding the Processing of your Personal Data by Bhawana Capital or you would like to exercise your rights as a Data Principal, please contact us on contact details provided above in Section 8.

12. Return Policy
Customers can return the loans within 2 days from the date of disbursement, if applied mistakenly. Bhawana gives its borrower all the information they need to manage their returns along with details on compensation and charges levied for each return, if any. We have all necessary tools to help our borrower track and manage their returns, get loans data as well as detailed payment tracking and order history.

13. Shipping Policy
The loans must be disbursed/shipped within 2-3 days from the date of receiving the application within the agreed time provided by you. You can check the status of your loans and the days left for disbursement/dispatch on the digital platform.

14. Refund & Cancellation Policy
In order to maintain a good customer experience for customers, it is important for you to ensure that the loan products listed on Bhawana’s website / LSP’s platform are available for disbursement. However, we understand that there could be delays that are out of your control leading to late disbursement. In that case, Bhawana will not charge any penalty to you so you can continue to sell online without any tension.