Privacy

INTRODUCTION

Maanaveeya Development & Finance Private Ltd. (hereafter referred as “the Company” or “MV”) was incorporated in August 2004. The Company is registered with Reserve Bank of India (RBI) as a Non-Banking Finance Company, falling under the category of ‘NBFCs-Middle layer’ (NBFCs-ML), as per the regulatory structure of scale based regulation. MV is a development financial institution, a wholesale lender, and extends bulk loans to established Micro-Finance Institutions (MFIs), FI-MSME companies, Renewable Energy companies, other organizations engaged in Agri value chain activities.

This Privacy Policy is an electronic record in the form of an electronic contract formed under the Information Technology Act, 2000 and the rules made thereunder and the amended provisions pertaining to electronic documents / records in various statutes as amended by the Information Technology act, 2000. The term “you”, “customer” “partner”, “borrower” denotes the person who avails the services of Maanaveeya. In order to provide you with the Services, process your loan requests, and to ultimately provide a loan to you, MV need to collect various data and information from you. The manner in which this data and information is collected, retained, shared, stored, and processed by us (i.e., Company) is addressed in this Privacy Policy/ Privacy Statement (“Policy”).

We may revise this Policy from time to time, it is strongly recommended for you return to our website periodically to review the most current version of this Privacy Statement which is amended by us from time to time. 

Your privacy is important to Maanaveeya. We are committed to protecting your personal data and respecting your privacy. We are committed to safeguarding your personal data. In this notice, we explain how Maanaveeya treat your personal data. Please read the following terms of the Policy carefully to understand our practices regarding your personal data and how we will treat it. This Policy sets out the basis on which any personal data we collect from you, we collect about you, or that you provide to us, will be processed by us. 

By providing us with the consent to process your personal data, you acknowledge that we will collect, store, use, and disclose your personal data in accordance with this Policy

What is Personal Data?

Personal data is any information that could be used to identify you without making unreasonable efforts. A name or a national ID number is clearly personal data. Other information may not be personal data on its own (e.g. nationality) but would become personal if combined with other information (e.g. nationality coupled with a name). Similarly, an IP address is not personal data on its own, but becomes personal if it can be linked to you. We may, for the purpose of rendering services, collect personal information as described below:

Whose personal data and what kind of data do Maanaveeya have?

• Types of Personal Information Collected:

By providing us with the consent to process your personal data, you acknowledge that we will collect, store, use, and disclose your personal data in accordance with this Policy. This includes:

Information that may be provided by You directly, such as:

Identity and profile-related data: Name, gender, residential/communication address, contact number, date of birth, marital status, email address, company names or any other contact information.

KYC Data: Identification documents issued by government authorities such as PAN card, proof of possession of Aadhaar, Passport and voter ID, Signature and Photograph, where applicable, for yourself and your director, shareholder, beneficial owner and/ or any other person or authorised signatory.

Related Personal Details: Related Persons Information about related persons, co-applicants, guarantors, nominees, ultimate beneficial owners, and others may be collected to comply with applicable laws or to evaluate credit and risk profiles, provided the necessary consents and permissions are obtained. A person’s role in a company, if applicable (for example, beneficial owner, legal representative, director or guarantor).

Transaction Data: Details of transactions that occur through the products and services or in connection with the services, including sought or availed services..

Financial data: Past credit history, income details, details of loans, payments, bank account information, and bank account statements. 

Data is not collected from individuals’ mobile phone resources, such as contact lists, call logs, telephony functions, and files and media. 

• Purpose of Collection and Usage of Data:

We have your personal data in order to be able to perform on the contracts Maanaveeya have concluded with you, as well as to meet legal obligations, such as know-your-customer rules. 

We need to know your identity and, in the case of a legal entity, the identity of the directors, top management, beneficial owners, representatives, and the final owners in order to meet legal requirements. This is why we obtain ID copies. This information will be used for evaluating credit applications, credit risk assessments, providing products and services, complying with customer identification requirements under the law, and maintaining and reporting customer account information as required by applicable laws.

We use the data to analyze your creditworthiness, loan eligibility, KYC documents and the terms of your loans. While partners Financial and KYC Information is collected, we are required to individually process the loan requests and verify the KYC documentation of related persons and partners received. Failing to process such data means that you cannot be provided any loans. You hereby grant us explicit consent to fetch your KYC (Know Your Customer) details from the Central KYC Records Registry using the details provided by you. We also use the data to track disbursement and repayment of your loan. Such information is further collected for specified business purposes, such as:

• to provide You with the services that You may require,
• to process Your financial transaction requests,
• to check and process Your submitted applications, if any, for availing any financial services,
• to take up and investigate any complaints/claims/disputes,
• to respond to Your queries and feedback submitted by You,
• for verification of Your identity and other parameters,
• to fulfil the requirements of applicable laws/regulations and/or court orders/regulatory directives received by Us.
• Transaction history, for example: Name and account number of the person instructing a payment, Account number of the person receiving a payment, in order to be able to give effect to the payment or instruction. 
• Sensitive personal data, for example: Criminal data, Biometric data, including national number (e.g. BSN or social security number) if it appears on your passport copy/national ID

The collection and treatment of this data is subject to stricter rules. We collect a copy of a passport or national ID to meet our legal obligation to identify persons we do business with. These documents frequently contain a national number and biometric data. We do not use these details beyond the process of gathering copies of IDs.

If you fail to provide us that data as and when requested by us, we will not be able to perform our obligations under the arrangement we have with you or are trying to enter with you. In this case, we may have to cancel or limit your access to the Services (or part thereof).

• Method of Collecting Information

We will use following methods to collect and process your personal data, including:

• Information provided by you 

Information voluntarily provided by partners and related persons when using the Services or corresponding with us, such as during onboarding, data sharing, or issue reporting. Records of these interactions are maintained. 

• Information Received from Specialized Service Providers

We also obtain your information from third party entities that your business maintains accounts with, such as financial institutions, service providers referral partners, identity verification services, vendors, mailing list providers, credit reporting agencies, credit bureaus and associations, fraud prevention agencies.

Data needed to ensure the integrity of the financial system and of Maanaveeya’ s mission.

1. We use the service of a third-party provider, World-Check, in order to verify in publicly available records whether doing business with a partner (including, when applicable, directors, top management, representatives or final owners) is acceptable in light of our legal obligations and our mission. The data that we obtain could include:

• Criminal or civil case history from public court registers
• Presence on national, European or international sanctions lists
• Negative coverage in the media

1. We examine the screenings with a critical eye, taking into consideration at all times that they might be incomplete or irrelevant. In all cases, we use these tools only to establish that a person:

• Has not committed fraud or otherwise pose a risk to the financial sector;
• Is not on national, European or international sanctions lists. If that is the case, we will not give effect to a transaction;
• Is not engaged in activities that are incompatible with Maanaveeya’ s mission.

1. Data on companies and their representatives from the relevant national chamber of commerce register or land registry.
2. Data from other public sources such as the relevant national credit bureaus, insolvency registers, newspapers, the internet or social media.

We use such data to check, for example:

• If the details of our partner organisations are up to date against what is recorded in the public trade register;
• If a prospective partner organisation offers collateral as part of its loan application: we check in the relevant land registry system who the owner of the property is, what its value is estimated at, and whether there are any existing mortgages on it;
• As part of the approval process for funding to partners, our staff may look at information available publicly online in order to see if anything should be taken into account when considering the funding request. 

We may combine this information with the information that has already been collected from you or about you. For example, we may obtain transactional information about your businesses from financial institutions, information about your business’ engagement with customers from social networking services, and information about your business’ sales volume from service providers.

In case the information provided by the Partner and Related Persons is invalid or not accessible, e.g., a change in contact details, we may reach out to an appropriate and authorized bureau and agency to obtain the updated information. 

• Data from web visitors

People visit our websites for various reasons: to learn more about us; to ask a question or sign up for a newsletter. In all cases, we may collect your name and address for newsletter subscription

If you send an inquiry on our website, we also have the data that you enter in that form. Most often this is your name and email address, so we can contact you.

Website Disclaimer

We use cookies to give you the best possible experience with Maanaveeya. Some are essential for this site to function; others help us understand how you use the site, so we can improve it. We may also use cookies for targeting purposes. Click “Accept all cookies” to proceed as specified or click “Manage my preferences” to choose the types of cookies you will accept.

• Data from persons who engage with us on our social media accounts

We are active on social media such as Facebook, Twitter and LinkedIn. On these platforms, we share campaigns and information about Maanaveeya with anyone who is interested. As a result, if you leave a public message, we retain data about you via our accounts on these media.

We use social media buttons such as the Facebook, LinkedIn ‘like’ or ‘share’ button. Social media platforms such as Facebook are able to track your liking or sharing behaviour through such buttons. We ourselves do not track it.

We will not have control over personal data made publicly available, such as reviews or comments in public sections of the platform or application stores. Provider of the information or users share such data at their own risk, and we will not be responsible for third-party misuse of this information.

• Data from job applicants

When you apply for a job at Maanaveeya, you send a Cover letter and a CV. As a result, we have the data that appears on these documents. 

In addition, as a financial institution we must ensure that all our employees have the required integrity. Therefore, before we make a job offer to an applicant, we conduct a background verification which includes, employment history, CIBIL check, Criminal record check, Address verification and reference check to ensure there are no other factors that pose a risk to Maanaveeya. We check publicly available records via the service of a third party provider.

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• Storage, sharing & disclosure of collected information

• Storage & sharing of Information

We do not share personal data with others for reasons other than to facilitate a contract that we have concluded with you or your organisation, or to comply with the law.

1. Your Consent: You allow us to collect, compile, and share your information with third parties, including Lenders and service providers, solely for rendering Services. Failure to provide consent may hinder our ability to meet its obligations.
2. Communication Authorization: You authorize us, our partners, and affiliates to contact you via email or phone to ensure you are aware of Service features.
3. Legal Compliance: We will share data when required by law, courts, government agencies, or authorities.

Disclosure of Personal Information

We do not disclose personal information to third parties without your consent, except when necessary for normal financial business operations or legally permitted. Maanaveeya may engage third party service providers to perform functions and provide services to us, such as hosting and maintaining our servers, websites management, conducting surveys or contests, third-party solutions for marketing and analytics, application developers, database storage and management, data hosting, e-mail management, payments processing, some aspects of our technical and customer support, collections and recovery. In order to enable these third parties to perform these services for us and for you we may share your personal information, and possibly some non-personal information, with them after imposing confidentiality obligations on them.

For example, in sending and receiving payments, we use the services of regulated banks. These banks receive the details, which may include personal data, necessary to effect the transfer. These banks are legally obligated to treat your personal data securely.

In principle, we may be required by regulatory authorities to pass on personal data, pursuant to obligations laid down in applicable laws.

At times, we make use of the services of other companies. For example, we hire companies to do mailings of your annual account statements by post, or to host and develop our IT systems. In such cases, we share only the personal data required to complete the task, and we conclude a contract with the service provider in which we require it to safeguard your data.

How do Maanaveeya share data internally?

Regarding the data of persons connected to our partners (not job applicants) only: data collected for the purpose of creating and assessing proposals for financing, including know-your-customer requirements, is handled by our staff. 

Protection of Data

We have measures in place to ensure that your data is secure from unauthorised access. Such security practices and procedures as stipulated under applicable law will be applied on the personal information, we collect from you. To protect privacy of your personal information, we implement a variety of security measures to maintain the safety of your personal information. Please be aware that we cannot rule out breach of privacy of your personal information on account of breach of any of our physical, technical, or managerial safeguards. Systems are protected through a combination of physical and electronic access controls, firewall technology, and other security measures. 

Restricted Access

Access for our staff to personal information will only be on a need-to-know basis that is relevant for their respective function. Where it will suffice, access will be provided to depersonalized/anonymized/pseudonymized information as appropriate. We maintain segregated access to systems, to ensure that the only staff who have access to your data are those who facilitate the purpose for which you shared your data with us. IT administrators with broader access sign additional agreements obligating them to protect your data. We require the same standards of security from our service providers.

Data Protection or Grievance Redressal

You can contact the Data Protection Officer or Grievance Redressal Officer in case of any privacy concern, complaint, or any question regarding this Privacy Policy

Title: Grievance Redressal Officer

Name: B Ram Babu

Email id:Pno@oikocredit.org

Data Retention and Destruction Protocols

How long do Maanaveeya keep your data?

We keep your personal data only as long as necessary in relation to the purpose for which we obtained it. We obtain your data only to facilitate an agreement we have with you, with your consent, or to meet a legal obligation. 

1. Any deletion or destruction of any personal data governed by this Privacy Policy in terms thereof shall be, to the extent technically possible and in accordance with the relevant industry standards. Alternatively, we may render the personal data into anonymized data, so that it no longer constitutes personal data.
2. We ensure that users acknowledge personal data, and it may continue to be stored as required or permitted by laws, regulations, or for legal defence.
3. We ensure that KYC data shall be deleted or anonymized as per applicable legal or regulatory requirements pertaining to data retention from the application date. Other data will be deleted or anonymized upon your request, provided there are no active loans or services. However, legal obligations or applicable laws may prevent data deletion in some cases.

If you apply for a job, we keep your data for no longer than three months after we have filled the respective position. If you agree to have your application stored for future opportunities, we will keep your data for 12 months after you have provided your consent.

Legal Rights

Under certain circumstances, you have the right to:

1. Request the erasure of your personal data: This enables you to ask us to delete or remove personal data. You can also request to correct or add to your personal data if you deem it to be incorrect or incomplete for the purpose for which we have it. We shall comply with any request, subject to applicable laws and the terms of the loans that are sanctioned.
2. Right to Deny Consent: You can opt not to grant consent for the processing of your personal data. However, this choice may affect our ability to provide services.
3. Right to Revoke Consent: You can withdraw consent at any time. We comply with any such request, subject to applicable laws and the terms governing Products or Services.

Further, if there is no legal ground for us to have your personal data, you can request to have it deleted. Or, you can withdraw consent you have previously given us to have your data. If we are legally required to keep your personal data, we cannot delete it upon your request. We will inform you if this is the case.

To exercise your rights, you can send your request to privacy@oikocredit.org or to the physical address stated below. You will receive a written reply within four weeks. When sending your request, please include a copy of your ID document (such as a passport) so we can verify your identity. Please also indicate how you are related to Maanaveeya (e.g. representative, owner, director of a partner etc.).

Maanaveeya Development & Finance Private Limited 

Prashanthi Towers, 4th Floor, H. No. 8-2-293/82/564 A 43

Road No. 92, Jubilee Hills

500034 Hyderabad, Telangana

India

fax: 00 91 40 23554729

Please consider redacting the sensitive fields in your identity document (such as the biometric data).

We facilitate your request to exercise these rights, following regulations governing data processing and storage. 

Non-Binding

Please note that this privacy policy does not create any contractual or other legal rights in or on behalf of any party, nor is it intended to do so.

Notification of data breaches

Maanaveeya comply with applicable laws applicable to the organization in respect of any data breach.

• Support

Users of our services, website or mobile application will send an email to

info@oikocredit.org, in case of any questions or to require any support

regarding this Privacy Policy

Minors

Our Services are not directed to children, and we do not knowingly solicit or collect personal information from persons under the age of 18 (eighteen). 

Changes to this policy

Maanaveeya can make changes to this privacy statement

Maanaveeya can change this privacy statement at any time. We will make an announcement regarding any changes on our website. Older versions of our privacy statement will be stored in our archives. To view an older version of the privacy statement, please contact privacy@oikocredit.org. 

More information

Questions about this privacy statement or about our services can be directed to privacy@oikocredit.org.