CREDIT INFORMATION SERVICES TERMS & CONDITIONS



These Credit Information Services Terms and Conditions (“Terms”) govern the use of or access to Credit Information Services (defined below).

Please read these Terms carefully before accessing or using the Credit Information Services. These Terms also include Privacy Policy, available at [Final Link of the PP to be copied here]and any guidelines, additional terms, policies, or disclaimers made available or issued by us from time to time.

These Terms constitute a binding and enforceable legal contract between Navmaya Tech Services Private Limited (“Company”, “we”, or “us”, including holding, subsidiary, associate companies and affiliates of Navmaya Tech Services Private Limited) and any user of the Credit Information Services (“you”, “User”, “your”).

  1. Definitions:
    1. “Applicable Law” means any statute, law, regulation, ordinance, rule, judgment, notification, order, decree, by-law, permits, licences, approvals, consents, authorisations, government approvals, directives, guidelines, requirements or other governmental restrictions, or any similar form of decision or determination by, or any interpretation, policy or administration, having the force of law of any of the foregoing, by any regulatory authority, whether in effect as on the date of you agreeing to be bound by these Terms or at any time after.
    2. “Authority” means any judicial or quasi-judicial authority or any regulatory, statutory authority of India.
    3. “Credit Information” has the same meaning as ascribed to the term under the Credit Information Companies (Regulation) Act, 2005.
    4. “Credit Information Company” or “CIC” means a credit information company registered with the Reserve Bank of India in accordance with the provisions of the Credit Information Companies (Regulation) Act, 2005, which the Company has partnered with in order to provide the Credit Information Services.
    5. “Credit Information Company Terms of Use” means the credit score terms of use of the CIC.
    6. “Credit Information Report” shall mean the credit information reports which shall be generated by the CIC by using their tools, algorithms, and devices.
    7. “Credit Information Services” has the meaning as ascribed to the term under clause 4.1 of the Terms.
    8. “Credit Score” shall mean the score that is set out in the Credit Information Report including any inferences, references, and details, as may be provided at the sole discretion of the CIC, by using CIC’s tools, algorithms, and devices.
    9. “Lenders” shall mean any Commercial Banks, Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks or Non-Banking Financial Companies with which the Company collaborates from time to time to provide loan services.
    10. “Permitted Time Period” has the meaning as ascribed to the term under clause 3 of the Terms.
    11. “Platform” means our Digital Lending Platform.

  2. USER ACKNOWLEDGEMENT AND CONSENT
    User acknowledges that by accessing the Platform or availing the Credit Information Services, User expressly consents and confirms to be bound by these Terms. In the event you do not agree to be bound by these Terms, we encourage you to stop accessing our Platform and Credit Information Services immediately.

  3. ELIGIBILITY
    You represent and warrant that you (a) have full legal capacity and authority to agree and be bound to these Terms, (b) are 18 (eighteen) years of age or older, (c) are an Indian resident, and (d) you have all requisite right, power and authority in full force to enter into these Terms.

  4. APPOINTMENT OF COMPANY AS AUTHORISED REPRESENTATIVE
    You hereby acknowledge and agree that by clicking “yes” on the check box and by providing your details on the Platform, you have requested for availing the Credit Information Services. You have also provided your consent to appoint the Company as your authorized representative on an ongoing basis to receive your Credit Information, Credit Information Report and Credit Score (a) for a period of 6 (six) months; or (b) till such time the Credit Information, Credit Information Report and/or Credit Score is required to be retained to satisfy the Purpose for which it was intended; or (c) until the revocation of consent, whichever is earlier (“Permitted Time Period”).

  5. SCOPE OF CREDIT INFORMATION SERVICES
    1. Credit Information Services: You hereby acknowledge and agree that the Company shall access, use, analyses, aggregate and retain your Credit Information, Credit Information Report and Credit Score for the following purposes (“Purpose”):
      1. provide you access to your Credit Information, Credit Information Report, and Credit Score (including any changes therein) on the Platform;
      2. provide you with such products and/or services that you may be interested in and choose to avail; and/or
      3. take such other actions as may be required in relation to undertaking the activities mentioned under sub-clause 4.1(a) and/or 4.1(b).

    2. Third-Party Services:
      1. The Credit Information Services may include services, content, documents, and information owned by, licensed to, or otherwise made available by a third party including, but not limited to the CICs (“Third-Party Services”) or contain links to Third-Party Services. You understand and acknowledge that Third-Party Services are the responsibility of the third party that created or provided it and acknowledge that use of such Third-Party Services is solely at your own risk.
      2. We make no representations and exclude all warranties and liabilities, express or implied or arising in law, arising out of or pertaining to such Third-Party Services, including their accuracy or completeness. Should you avail a Third Party Service, you shall be governed and bound by the terms and conditions and privacy policy of the third parties providing the Third-Party Services. Further, all intellectual property rights in and to Third-Party Services are the property of the respective third parties.

    3. Responsibilities:
      1. You represent and warrant that all information that you provide on the Platform or in relation to the Credit Information Services is complete, true, and correct on the date of agreeing to these Terms and shall continue to be complete, true, and correct while you avail the Credit information Services or access the Platform. Should any information that you provide change during the existence of these Terms, you undertake to immediately bring such change to our notice. We do not accept any responsibility or liability for any loss or damage that you may suffer or incur if any information, documentation, material, or data provided to avail the Credit Information Services is incorrect, incomplete, inaccurate, or misleading, or if you fail to disclose any material fact or notify us of any change to the same.
      2. You shall extend all cooperation to us, in our defence of any proceedings that may be initiated against us due to breach of your obligations or covenants under these Terms, including in any proceedings by an Authority or the CIC.
      3. You shall not use the Platform in any manner except as expressly permitted in these Terms. Without limiting the generality of the preceding sentence, you may not:
        1. except as may be provided hereunder, copy, display, distribute, modify, publish, reproduce, store, transmit, post, translate, create any derivative works from, or licence the Platform;
        2. use the Platform to transmit any data or send or upload any material that contains viruses, trojan horses, worms, timebombs, keystroke loggers, spyware, adware, or any other harmful programmes or similar computer code designed to adversely affect the operation of any computer software or hardware;
        3. use any robot, spider, other automated device, or manual process to monitor or copy the Platform or Credit Information Services or any portion thereof;
        4. engage in the systematic retrieval of content from the Platform to create or compile, directly or indirectly, a collection, compilation, database, or directory;
        5. use the Credit Information Services in any unlawful manner, for fraudulent or malicious activities, or in any manner inconsistent with these Terms; or
        6. violate Applicable Laws in any manner.

  6. FEE
    You acknowledge and agree that the Credit Information Services provided are free of cost. However, you understand that we reserve the right to levy fees in the future for a User to be able to access the Credit Information Services. In such an event, we shall provide the User with a prior reasonable notice and the User shall have the option to discontinue the access to the Credit Information Services if the User does not wish to continue availing our Credit Information Services.

  7. CONSENT TO USE DATA
    1. All data that we collect in order to provide you the Credit Information Services shall be governed in accordance with our Privacy Policy.
    2. Credit Information: You hereby acknowledge and agree that the Company shall:
      1. use the Credit Information, Credit Information Report and/or Credit Score for the limited Purpose;
      2. not share the Credit Information, Credit Information Report and/or Credit Score with third parties except Lenders; and
      3. access and retain your Credit Information, Credit Information Report and/or Credit Score until the Permitted Time Period. Upon the completion of the Permitted Time Period, the Company shall promptly destroy, purge, and erase the Credit Information, Credit Information Report and/or Credit Score.


  8. COMPANY’S RIGHTS
    1. The Company reserves the right to verify the details/information provided by you. In the event such information is false, the Company reserves the right to take action against you including but not limited to suspension of your access to the Credit Information Services. Additionally, the Company reserves the right to suspend your access to the Credit Information Services for any breach of the terms contained herein.
    2. Further, the Company reserves the right to withdraw, discontinue or stop the provision of the Credit Information Services, at any time, at sole discretion of the Company and your use of such Credit Information Services shall automatically terminate.
    3. You agree that upon deletion of your account, we reserve the right to retain such data of yours to the extent permitted under the Applicable Law.

  9. DISCLAIMERS
    1. You have registered on the Platform and have chosen to avail the Credit Information Services voluntarily and at your free will for your own benefit and the Company has not made any promises or representations to you in order to induce you to grant your consent or authorisation under these Terms, including but not limited to, consent for sharing your personal identifiable information with the CICs. Accordingly the Company shall not be liable for any loss or damage resulting from you availing the Credit Information Services on the Platform, or, otherwise from the use of the Platform, or, from the use of the Credit Information, Credit Information Report and/or Credit Score provided to you.
    2. You agree and acknowledge that the sharing of your Credit Information, Credit Information Report and/or the Credit Score by the CICs with the Company in relation to the Credit Information Services being availed by you on the Platform is only upon your request, consent and convenience and does not imply any affiliation, endorsement, approval, investigation, verification or monitoring by the Company of any content or information, including but not limited to the Credit Information, contained within or provided by the CICs on the Platform.
    3. You agree that it shall be your sole responsibility to ensure the correctness of any communication, information, instruction, or any other inputs which is required to avail the Credit Information Services. You understand and agree that we do not accept any responsibility or liability for any loss or damage if any information, documentation, material, or data provided to avail the Credit Information Services is incorrect, incomplete, inaccurate, or misleading, or if you fail to disclose any material fact.
    4. You acknowledge and understand that the Company shall not be responsible for any errors, inaccuracies, or omissions in relation to the Credit Information, Credit Information Report and/or the Credit Score. The Credit Information Service is for informational purposes only and is intended to provide helpful and informative material on the subjects addressed to you. The Company does not control your Credit information, Credit Information Report and Credit Score, which is a statistical analysis of information contained in your credit file as maintained in the system and database of the CIC and we cannot change that information for you. However, if information in your report is inaccurate and is affecting your score, you have the right to dispute it directly with the CIC through its website.
    5. The Credit Information, Credit Information Report and/or Credit Score as well as the Credit Information Services and other products, information, materials, and services provided by the Company are provided “as is”. The Company specifically disclaims all implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement, and all warranties arising from course of dealing, usage, or trade practice in respect to the same. Without limiting the foregoing, the Company makes no warranty of any kind that the Credit Information Services or any products or results of the use thereof, will meet your or other persons’ requirements, operate without interruption, achieve any intended result, be compatible or work with any software, systems, or other services, be secure, accurate, complete, free of harmful code or error free.
    6. You understand that we shall in no manner be held liable for any unauthorised use of the Credit Information Services due to unauthorised access including but not limited to hacking and security breaches.
    7. You agree and acknowledge that the display of any products including but not limited to any financial product, offered by any third parties, on the Platform does not in any way imply, suggest, or constitute any sponsorship, recommendation, opinion, advice, or approval of the Company against such third parties or their products. Your interaction and any sharing of your data/information/personal information with any third party accessed through the Platform is at your own risk, and the Company will have no liability with respect to the acts, omissions, errors, representations, warranties, breaches or negligence of any such third parties or for any personal injuries, death, property damage, or other damages or expenses resulting from your interactions with the third parties.
    8. As a user of TallyPrime, I further authorize the Company to share with CICs, my personal information/details to procure my Credit Information on a monthly frequency and use the same to
      1. provide me access to my Credit Information (including any changes therein),
      2. provide me lending facilitation services that I may be interested in and choose to avail, and/or
      3. take such other actions as may be required in relation to the above (collectively, “Purpose”). I understand and acknowledge that the CIC shall not be liable under law or equity, in in accordance with my consent hereunder any manner whatsoever, for providing my Credit Information to the Company and I will not raise any claim or objections against the CIC. I confirm that this consent is given by my free will and not due to any solicitation by any person/entity. This consent/authorization shall be valid for
        1. a maximum period of 06 (six) months, from the date of giving the same,
        2. satisfying the Purpose or
        3. until I withdraw my consent at any time, by informing the same to the Company, at their registered office address, website, assigned email id or mobile application, whichever is earlier. I also consent to the CRIF High Mark Credit Score Terms of Use

  10. LIMITATIONS AND RESTRICTIONS ON USE OF THE SERVICE
    1. You agree to use the Credit Information Services for your personal consumption only, except as specifically provided by the Company.
    2. You acknowledge that there may be a failure to process a request by the Company or by the CICs in the event the particulars, details and/or the documents, furnished by you, do not match the information existing with the CICs, for any reason whatsoever, including but not limited to, data not accepted by the data collection system maintained by the CICs or incomplete upload of data provided by you in relation to this service. The Company shall inform you of such failures.
    3. You acknowledge that any analysis and estimates provided by the Company as part of the Credit Information Services are for illustrative and informational purposes only.
    4. You agree and acknowledge that the methodology which the Company uses to determine which offers, analysis, or other information is presented or highlighted is proprietary and the Company may elect to consider, ignore, emphasize, or de-emphasize certain factors in its sole and absolute discretion.
    5. You further agree and acknowledge, to the extent permissible by law, all information given by the Company to you shall be proprietary information of the Company.
    6. To the fullest extent permissible by law, we, our affiliates, and our related parties each disclaim all liability to you for any loss or damage arising out of or due to:
    7. your use of, inability to use, or availability or unavailability of the Credit Information Services or Platform, including any Third-Party Services;
    8. the occurrence or existence of any defect, interruption, or delays in the operation or transmission of information to, from, or through the Credit Information Services, communications failure, theft, destruction or unauthorised access to our records, programmes, services, server, or other infrastructure relating to the Credit Information Services or the Platform; or
    9. the failure of the Credit Information Services or Platform to remain operational for any period of time.

  11. INTELLECTUAL PROPERTY
    1. All rights, title, and interest in and to the Platform and Credit Information Services, including all intellectual property rights arising out of the Platform and Credit Information Services (including text, graphics, software, photographs and other images, videos, sound, trademarks, and logos), are owned by or otherwise licensed to us. Subject to compliance with these Terms, we grant you a non-exclusive, non-transferable, non-sub licensable, royalty-free, revocable, and limited licence to use the Platform in accordance with these Terms.
    2. We may request you to submit suggestions and other feedback, including bug reports and vulnerability disclosures, relating to the Credit Information Services from time to time (“Feedback”). We may freely use, copy, disclose, publish, display, distribute, and exploit the Feedback we receive from you, without any payment of royalty, acknowledgement, prior consent, or any other form of restriction arising out of your intellectual property rights.
    3. Except as stated in these Terms, nothing in these Terms should be construed as conferring any right in or license to our or any third-party’s intellectual property rights.
    4. You must not use any part of the content on our Platform for commercial purposes without obtaining a licence to do so from us or our licensors. If you print, copy, or download any information from our Platform in breach of these Terms, your right to use our Platform will cease immediately, and you must, at our option, return or destroy any copies of the materials you have made.
    5. The Company reserves the right to ban you in the event you infringe, violate or misappropriate the intellectual property rights of the Company or any other third party, while using the Platform.

  12. INDEMNITY
    1. You shall indemnify, defend at Company’s option, and hold the Company, its affiliates, and their officers, associates, successors, assigns, licensors, employees, directors, agents, and representatives, harmless from and against any direct or indirect losses, actions, damages, penalties, cost and expenses, claim, demand, lawsuits, judicial proceeding, (including, without limitation, from all damages, liabilities, settlements, costs and attorneys’ fees) arising from or relating to:
      1. acts, commissions or omissions, errors, misrepresentations, misconduct, negligence, fraud, forgery, dishonesty, violation attributable to you, or any third party who may use your access to the Platform, use of the Credit Information Services;
      2. contravention of Applicable Law; or
      3. any claim from any Authority or any third party as a result of any action or inaction on your part, including but not limited to, breach of these Terms or any acts committed beyond the scope of these Terms.

  13. LIMITATION OF LIABILITY
    Notwithstanding anything to the contrary contained herein, neither the Company nor any of its affiliates or related parties shall have any liability to you or any third party for any direct, indirect, incidental, special, or consequential damages or any loss of revenue or profits arising under, directly, or indirectly, or relating, in any manner whatsoever, to these Terms, including any action taken by any Authority. If the foregoing limitation is not enforceable, the maximum liability of the Company shall be limited to INR 1000.
  14. TERM
    These Terms shall remain in effect as long as you continue to avail the Credit Information Services.
  15. TERMINATION
    1. Notwithstanding other legal remedies that may be available to you, we may at our sole discretion, limit your access or activity (either temporarily or indefinitely), or suspend your access to the Credit Information Services, without providing you with notice or cause, for any reason including but not limited to the occurrence of the following events:
    2. breach of your obligations, covenants, representation under the Terms;
    3. breach of Applicable Law; or
    4. upon the request of Authorities.
    5. Upon termination under Clause 14.1 these Terms shall terminate, except for those clauses that are intended to survive termination or expiry.

  16. REGULATORY CHANGES
    You acknowledge and agree that we may have to modify the Credit Information Services to comply with the Applicable Laws. As a result of this, you may be unable to access or use all or any part of the Credit Information Services and/or Platform. We shall not be liable to you for such inability to use the Credit Information Services and/or Platform pursuant to our compliance with the Applicable Laws.

  17. ENTIRE AGREEMENT:
    The Terms read with the Privacy Policy and Credit Information Company Terms of Use shall constitute the entire agreement and understanding between Company and the User.

  18. COMPANY MAY MAKE CHANGES TO THE PLATFORM
    1. We reserve the right to make changes to these Terms. As a User, you are required to review these Terms each time you use the Platform or Credit Information Services. Your use of the Platform and Credit Information Services will be governed by these Terms as amended from time to time. If at any point such amendments are not acceptable to you, we advise you to cease using the Platform and/or the Credit Information Services at such time.
    2. We do not guarantee that our Platform, or any content on it, or our Credit Information Services will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of our Platform or Credit Information Services for business, legal and operational reasons. We will try to give you reasonable notice of any such suspension or withdrawal. We shall not be liable for any such suspension or discontinuation of the Credit Information Services or the Platform.

  19. MISCELLANEOUS PROVISIONS
    1. Severability - If any provision of these Terms is determined by any court or other competent authority to be unlawful or unenforceable, the other provisions of these Terms will continue to be in effect. If any unlawful or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue to be in effect (unless that would contradict the clear intention of the clause, in which case the entirety of the relevant provision will be deemed to be deleted).
    2. Waiver - No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any right, power, or privilege preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. Every right or remedy herein conferred upon or reserved to either party shall be cumulative and shall be in addition to every right and remedy existing in law or equity or by statute and the pursuit of any one right or remedy shall not be construed as an election.
    3. Assignment - You shall not licence, sell, transfer, or assign your rights, obligations, or covenants under these Terms in any manner without the Company’s prior written consent. The Company may grant (subject to any conditions it deems appropriate) or withhold this consent at its sole discretion. The Company may assign its rights to any of its affiliates, subsidiaries, or parent company, or to any successor in interest of any business associated with the Credit Information Services without any prior notice to you.
    4. Notices - All notices, requests, demands, and determinations for the Company under these Terms (other than routine operational communications) shall be sent to
      Navmaya Tech Services Private Limited
      Raheja Arcade, No. 331-336, Koramangala,
      Bangalore-560095
    5. Third Party Rights – No third party shall have any rights to enforce any terms contained herein.


  20. GOVERNING LAW AND JURISDICTION
    1. These Terms shall be governed by and construed and enforced in accordance with the laws of India. Subject to other provisions in this clause, courts in Bengaluru shall have exclusive jurisdiction over all issues arising out of these Terms or the use of the Credit Information Services.
    2. Any controversies, conflicts, disputes, or differences arising out of these Terms shall be resolved by arbitration in Bengaluru in accordance with the Arbitration and Conciliation Act, 1996 for the time being in force, which is deemed to be incorporated by reference in this clause. The tribunal shall consist of 1 (one) arbitrator appointed by us. The language of the arbitration shall be English. The parties to the arbitration shall keep the arbitration confidential and not disclose to any person, other than on a need to know basis or to legal advisors, unless required to do so by law. The decision of the arbitrator shall be final and binding on all the parties hereto. Each party to the arbitration shall bear its own costs with respect to any dispute.

  21. GRIEVANCE REDRESSAL MECHANISM
    Grievance Redressal Policy is formulated with a purpose to provide efficient customer service support through a laid down procedure and the same can be accessed via link
    Grievance Redressal Policy
    on company’s website. Please refer to same, if you have any grievances.