Data Privacy and Storage

Last updated: 06 November 2024

  1. Introduction
    • At Meghdoot Mercantile Pvt. Ltd. (“Meghdoot”), we prioritize the privacy and security of personal information entrusted to us. This Data Privacy and Storage Policy outlines how we collect, use, store, and protect customer data, in compliance with applicable data protection regulations, including but not limited to the Information Technology Act, 2000, and the RBI’s data privacy guidelines for Non-Banking Financial Companies (NBFCs).
  2. Scope
    • This policy applies to all personal data collected by Meghdoot in connection with our financial services, including but not limited to loan processing, underwriting, credit assessment, and customer relationship management.
  3. Data Collection

    • a. Types of Data Collected:

      We collect and process the following types of data:
      • Personal Identification Data: Name, contact information, date of birth, PAN number, Aadhaar number, etc.
      • Financial Information: Income details, bank account information, credit history, loan history, etc.
      • Usage Data: Information collected through customer interactions with our services, website, and mobile
      • Technical Data: Device information, IP address, and data collected through cookies or similar technologies.

    • b. Purpose of Data Collection

      Data is collected to:
      • Process loan applications and assess creditworthiness.
      • Comply with regulatory requirements.
      • Provide, personalize, and improve our services.
      • Communicate with customers about products, services, and updates.
      • Conduct risk management and fraud prevention.
  4. Data Usage and Sharing

    • a. Usage of Data

      • Customer data is used strictly for legitimate business purposes and as required by regulatory authorities.
      • Personal data will not be shared, sold, or disclosed to third parties except as outlined in this policy or required by law.

      • b. Third-Party Sharing

      • Service Providers: We may share information with trusted third-party vendors who assist with operational functions, such as payment processing, data storage, credit scoring, and verification services.
      • Regulatory Bodies: Personal data may be disclosed to law enforcement or other government agencies as required by law or regulatory obligations.
      • Affiliates and Partners: For offering and delivering joint services and ensuring seamless customer experience within Meghdoot’s partner network.
  5. Data Storage and Security

    • a. Storage Duration

      • Personal data will be stored only as long as necessary for the purposes for which it was collected, or as required by applicable law or regulation. Data not actively used will be archived or anonymized to prevent unauthorized access.

      • b. Data Security Measures

      • Encryption: Personal data is encrypted during transmission and at rest, using industry-standard encryption protocols.
      • Access Control: Access to personal data is restricted to authorized personnel only, and is reviewed periodically.
      • Regular Audits: Meghdoot conducts regular audits of its data handling practices to identify and address potential vulnerabilities.
      • Data Backup and Recovery: Secure backup solutions are employed, and data recovery protocols are in place to ensure business continuity.
  6. Customer Rights

      7. a. Access and Correction

      • Customers may request access to their personal data, and if necessary, request corrections or updates to maintain accuracy.

      b. Data Portability

      • Where applicable, Meghdoot will assist in the transfer of data to another service provider, if feasible.

      c. Withdrawal of Consent

      • Customers have the right to withdraw their consent for processing data at any time; however, this may impact Meghdoot’s ability to continue providing certain services.

      d. Complaint and Redressal Mechanism

      • For complaints regarding data privacy, customers can contact our Data Protection Officer at shreydahlan@meghdootmercantile.com .We commit to resolving complaints in a timely manner.
  7. Policy Updates
    • Meghdoot reserves the right to update this policy as needed. All changes will be communicated to customers via email or our website, and will be effective immediately upon posting.
  8. Contact Information
    • For questions or concerns regarding this policy, please contact:
    • Data Protection Officer
    • Meghdoot Mercantile Pvt. Ltd.
    • Email: shreydahlan@meghdootmercantile.com
    • Phone: 9074700000

    This Data Privacy & Storage Policy reflects our commitment to data security and customer trust.