PRIVACY POLICY
Before engaging with our offerings, we urge you to thoroughly review this document for a complete understanding.
Operated by Reliance Commercial Finance Limited , Turat Fund is accessible as an App or Service ("the Service" ). Our operational requirement to deliver the Service, process loan applications, and eventually distribute loans involve collecting specific information from you . This Privacy Policy document ( "Policy") details our methods of data collection, usage, storage, sharing and processing . We periodically update both the Policy and the Service, and we recommend revisiting this page to stay informed about any alterations . If you find any part of this Policy unacceptable, please refrain from using our Service .
The Policy includes and is part of our Terms of Service and any contractual agreements you enter into with us for our lending services. Definitions not explicitly mentioned in the Policy are to be interpreted as defined in our Terms of Service. The term "you" here refers to all our service users and customers.
DATA WE COLLECT
In order to create an account and use the full Service on the Platform, you have to provide us with some personal information such as, full name, phone number, emergency contacts, and PAN card image.
Additionally, through your loan application process, we will also require your personal data from your phone for you to use the Platform more smoothly and securely, e.g., SMS, device data, and camera permission. The details of the personal data requirements will be interpreted below, and we only acquire the data that is related to the use of our Service.
A) SMS
After acquiring your permission when you agree to our disclosure, we will collect, store and upload your SMS records to our server for conducting mechanical reviews without manual intervention, which means no personal messages will be monitored. Additionally, there will be an uploading indicative icon available on the page when your encrypted data is being uploaded confidentially to our server: https://www.turat-fund.com/ , and the data will be completely erased when you terminate our Service. To be clearer, the data we require only includes the name of the sender, the date, and the number of transactions. It is to help us verify loan eligibility, analyze your financial habits and expedite the loan application process.
B) LOCATION
We collect and track information about the location of your device to ensure your loan application is eligible, reduce the risks associated with your loan application, and provide pre-approved customized loan offers. This also helps us verify addresses, make better credit risk decisions, and complete the know-your-customer (KYC) process.
C) DEVICE
We also collect your log information to improve the application function. Other than the above, we continuously track and collect application performance-related data and other diagnostic data to identify and resolve any technical errors that may be identified from such data, as well as to improve data glut.
D) CAMERA
We need your camera access so that we can capture photographs required by your KYC (Know Your Customer) documents and to fill in relevant fields in the registration process. It is to verify your identity and prevent others from stealing your personal information to commit loan fraud. Your taken photo will be recorded and retained for regulatory purposes. We will only upload this information safely and securely to our server: https://www.turat-fund.com/ , and only obtain or use this information after getting your permission first .
E) CALENDAR
We collect and use calendar data for risk control purposes. We use this data to analyze and identify patterns or trends that can help us operate our Service and provide it to our users. By using our Service, you consent to our collection and use of calendar data for your creditworthiness, the process will be conducted after we obtain your permission .
F) OTHER DATA
We automatically collect certain information about you based on your behavior on our Platform, and we use this information to conduct internal research on our users' demographics, interests and behaviors in order to better understand, protect and serve our users and to improve our service. We also collect your Internet Protocol (IP) address and the URL you use to connect your computer to the Internet, among other things. This information may include the URL you just came from (whether the URL is on our website or not), the URL you visit next (whether the URL is on our website or not), your computer browser information and your IP address.
DATA SECURITY
Your personal data, including device-obtained information, is collected and processed by us, then transferred to https://www.turat-fund.com/ via AWS cloud server. We ensure the confidentiality and security of all data received, whether directly from you or through your device. Our protective measures include SSL data encryption and controlled access to information. We employ robust safeguards to maintain the integrity and security of your data, guarding against loss, theft, unauthorized access, disclosure, duplication, use, or alteration. These safeguards align with legal requirements for data protection. Nevertheless, it's important to understand that the security of data transmitted over the Internet cannot be absolutely guaranteed. Any data you send to us is at your own risk. We are not liable for any information loss due to transmission errors, unauthorized access to our platform and databases, third-party actions, or circumstances beyond our control. You agree not to hold our Company responsible for any security breach.
HOW AND WHY IS THE COLLECTED DATA USED
Our Company collects and processes your data primarily to enhance and optimize the Service we provide to you. Below is a detailed explanation of how we utilize the data gathered as per the aforementioned section:
A) Purpose: To enable and improve the App and Service
Methods: The data helps us tailor and upgrade our Service. Specific uses include:
Creating and updating your user account.
Evaluating your loan eligibility and estimating loan terms.
Monitoring loan disbursement and repayment.
Facilitating the addition and removal of bank accounts for loan transactions.
Offering features to review your loan history, credit scores (from government databases), and other App functionalities.
Conducting internal operations like troubleshooting, data analysis, research, and monitoring usage trends.
B) Purpose: For processing loans and KYC (Know Your Customer) verification
Methods: The data is utilized to assess your creditworthiness and verify your KYC documents. This is crucial for processing loan applications and ensuring compliance.
C) Purpose: To enhance customer support
Methods: The information is used to address your queries and train customer service teams.
D) Purpose: For research and development
Methods: We use the data for research and product development, aiming to improve the user interface and experience, and to create automated responses for specific scenarios, such as unclear photo uploads or incorrect ID numbers.
E) Purpose: To facilitate communication between you and us
Methods: We may introduce features for direct communication and may contact you through various channels, including the App.
F) Purpose: For marketing and promotional activities
Methods: The data might be employed to promote the App and Service, including the use of your feedback and screen names for marketing.
G) Purpose: For automated decision-making features
Methods: The App may include automated responses and tracking features, with ongoing additions as the App evolves.
H) Purpose: To comply with legal obligations
Methods: We use the data for addressing legal disputes, complying with laws, and responding to regulatory and government requests.
I) Purpose: For introducing new products and services
Methods: We may leverage the collected data to develop and offer new products and services.
YOUR RIGHTS REGARDING DATA PRIVACY
As a user, you are granted specific rights pertaining to your personal data, including:
Right to Information: You can inquire if your personal data is being, has been, or will be processed.
Right to Object: You have the authority to oppose the processing of your personal data.
Right to Access: You are entitled to reasonably access the personal data held about you.
Right to Rectification: If your personal data is incorrect or incomplete, you have the right to have it corrected promptly.
Right to Redress: If your data privacy rights are violated, you can file a complaint with the appropriate authorities.
Right to Compensation: Should you suffer damage due to inaccurate, outdated, or unlawfully processed personal data, you have the right to be compensated.
Right to be Informed of Data Processing: You have the right to know if your personal data is being processed, including through automated means.
DATA RETENTION
Following our responsibilities as a financial services entity subject to regulation, we are obligated to retain your personal data for a period of 90 days after your account becomes inactive. Depending on the jurisdictional regulations, this timeframe may be subject to extension. It is essential to recognize that, depending on the regulatory environment, we may be required to continue storing your personal data for a stipulated period even after the closure of your loan-related activities with us, in adherence to the applicable banking and governmental regulations.
CHANGES TO OUR POLICY
We may modify this Privacy Policy at our discretion, at any time and for any reason, by adding, editing, or deleting parts of it. Any updates to the Privacy Policy will be made available on the Platform. Changes are typically effective immediately upon posting, unless specified otherwise. We recommend regularly reviewing this page to stay informed about our current privacy practices. Your continued use of the Service constitutes your acceptance of these changes and the updated Privacy Policy.
COMPANY CONTACT DETAILS
You may contact us with any enquiry relating to this App, Policy or your personal data.
Reliance Commercial Finance Limited
Address: 7th Floor, B-Wing, Trade World, Kamala Mills Compound, S. B. Marg, Lower Parel Mumbai City Maharashtra 400013
Email Address: [email protected]