Privacy Policy & Data Protection Charter | Ashapura Financial Services Bengaluru

CLAUSE 01

Entity Overview & Intermediary Status

Ashapura Financial Services operates exclusively as an independent loan facilitator, financial advisory consultancy, and authorized Direct Selling Agent (DSA) / Business Channel Partner. We connect retail and corporate borrowers with a curated network of over 35+ Scheduled Commercial Banks, Non-Banking Financial Companies (NBFCs), and Housing Finance Companies (HFCs) duly licensed and regulated by the Reserve Bank of India (RBI).

Crucial Statutory Clarification — We Are Not a Direct Lender:

Under Section 79 of the Information Technology Act, 2000, Ashapura Financial Services operates strictly as an intermediary aggregator and facilitator. The Company does not grant loans, does not operate as a licensed banking institution or NBFC, and does not underwrite credit risk directly.

Any credit facility, loan approval, interest rate calculation, processing charge, collateral valuation, repayment tenure, or sanction letter is governed exclusively by the independent credit underwriting policies and terms of our partner lending institutions.

CLAUSE 02

Scope & Consent Acceptance

This Policy governs all personal data, financial information, identity documentation, and digital metadata collected across all platforms operated by Ashapura Financial Services, including but not limited to:

The desktop and mobile iterations of our website;
Instant loan eligibility forms, EMI calculation tools, and consultation modals;
Communications via WhatsApp, SMS, RCS, telephonic voice calls, and electronic mail;
Physical document collection, verification drives, and in-person consultations at our Electronic City, Bengaluru headquarters or partner branches.

If you do not agree with any terms of this Privacy Policy or object to your data being shared with our network of 35+ partner banks/NBFCs for credit appraisal, you must immediately terminate use of our website and refrain from submitting your information through any of our web forms or interactive widgets.

CLAUSE 03

Categories of Information We Collect

In order to assess your credit profile, match you with competitive financial products, and facilitate statutory loan and insurance processing, we collect the following classifications of user information:

Data Classification	Specific Data Points Collected	Primary Processing Purpose
Identity & Demographic Data	Full legal name, gender, date of birth, marital status, residential address, duration at current address, and KYC document proofs.	Identity verification, KYC compliance under RBI guidelines, and fraud mitigation.
Contact Information	Primary mobile phone number, WhatsApp contact number, alternate contact details, and electronic mail address.	Advisory coordination, application status updates, lender verification, and document collection.
Financial & Employment Details	Employment type (Salaried / Self-Employed), monthly net take-home salary, employer/company name, work experience, ITR acknowledgement, bank statements, existing loans, and monthly EMI obligations.	Pre-qualification assessment, Debt-to-Income (DTI) ratio calculation, and optimal bank matching.
Credit Bureau Records	Credit bureau scores (CIBIL, Experian, CRIF High Mark, Equifax) and repayment history furnished directly by you or via partner lender pulls.	Determining creditworthiness and eligible loan interest rate brackets.
Technical & Log Data	Internet Protocol (IP) address, browser version, operating system, referring URL, time spent on web pages, and cookie session identifiers.	Website analytics, cyber-security defense, DDoS prevention, and user experience optimization.

CLAUSE 04

Purpose & Legal Basis of Processing

Ashapura Financial Services processes your personal data strictly under legitimate interest, explicit customer consent, and regulatory obligations for the following legitimate purposes:

1. Eligibility Pre-Screening

Evaluating monthly income, employment stability, and financial metrics against lending criteria established by our 35+ partner banks and NBFCs.

2. Application Forwarding

Transmitting verified application files and financial dossiers to relevant lending partners to expedite formal loan sanction and disbursement.

3. Insurance & Tax Facilitation

Sourcing term, health, and general insurance quotes or assisting in ITR, GST, and MSME Udyam documentation requests.

4. Fraud Prevention & AML

Complying with Anti-Money Laundering (AML) standards, identity validation checks, and RBI Fair Practice Code guidelines.

CLAUSE 05

Disclosure & Sharing with 35+ Partner Banks & NBFCs

To fulfill our contractual obligations as your loan facilitator, you grant Ashapura Financial Services explicit, irrevocable authorization to disclose and transfer your information to selected third-party entities, including:

Partner Banks, NBFCs & Housing Finance Companies: Nationalized, private, and regional financial institutions registered with RBI to which your loan dossier is routed for formal appraisal;
Credit Information Companies (CIBIL / Experian / CRIF High Mark / Equifax): Facilitating credit score verification in accordance with Credit Information Companies (Regulation) Act, 2005;
Field Verification & Valuation Agencies: Official chartered engineers, legal title searchers, and third-party verification associates engaged by lending institutions;
Technology & Telecom Service Providers: Cloud servers, secure document management vendors, transactional SMS gateways, WhatsApp Business API providers, and customer relationship management systems;
Government & Statutory Authorities: Law enforcement agencies, judicial tribunals, the Reserve Bank of India, or tax authorities upon receipt of a lawful subpoena, regulatory directive, or judicial summons.

Partner Disclaimers & Independent Privacy Practices:

Once your loan application dossier is transferred to a partner bank or NBFC, the processing of your data by that financial institution is subject to that entity's own privacy policy and RBI regulatory charter. Ashapura Financial Services exercises no operational control over bank servers and expressly disclaims any liability for third-party institutional actions.

CLAUSE 06

Express Calling, WhatsApp & DND / TRAI Waiver

Efficient loan facilitation requires real-time coordination, document collection, eligibility updates, and offer delivery across modern communication channels.

Explicit National Do Not Call (NDNC / DND) Registry Waiver:

By providing your mobile telephone number on any form, modal, EMI tool, or interactive element across our website, you expressly authorize Ashapura Financial Services, its senior loan advisors, channel partners, and representative institutions to initiate contact with you via:

Telephonic voice calls (including automated dialers and agent follow-ups);
WhatsApp messages, chat updates, and document transmission;
Transactional and promotional SMS text messages;
Electronic mail newsletters and financial product briefings.

This consent supersedes and overrides any registration on the National Customer Preference Register (NCPR / NDNC) or TRAI Do Not Disturb (DND) registry maintained under the Telecom Commercial Communications Customer Preference Regulations. You agree that such calls and messages shall not be deemed unsolicited commercial communication (UCC).

Opt-Out Notice: If you wish to cease receiving non-essential promotional updates, you may submit an opt-out request by emailing support@ashapurafinancialservices.com with the subject line "DND Preference". Transactional updates regarding an ongoing loan file will continue until case closure.

CLAUSE 07

Applicant Data Accuracy & Indemnification

The accuracy of your loan appraisal relies completely on the veracity and integrity of the records you supply to our advisors and upload onto our systems.

Applicant Representations, Warranties & Absolute Indemnity:

1. Truthfulness of Records: You represent, covenant, and warrant that all information, identification details (PAN, Aadhaar, Passport), employment slips, bank statements, audited financials, and property collateral titles submitted by you are 100% authentic, correct, and legally valid.

2. Zero Tolerance for Fraud: Ashapura Financial Services strictly condemns fraudulent loan submissions, fabricated salary slips, or falsified financial documentation. The Company reserves the right to terminate any consultation and report fraudulent activity to competent law enforcement agencies and partner banks.

3. Complete Indemnity: You agree to fully indemnify, defend, and hold harmless Ashapura Financial Services, its proprietor (Dharmendra Parmar), advisors, employees, and authorized agents against any and all civil claims, financial penalties, bank sanctions, investigations, legal costs, or liabilities arising from any misstatement, forged record, or deceptive submission provided by you.

CLAUSE 08

Non-Guarantee of Sanction & Limitation of Liability

As an advisory facilitator, Ashapura Financial Services provides professional guidance, documentation assistance, and bank liaison services. However, customers must note the following unconditional disclaimers:

No Approval Guarantee

Ashapura does not warrant, promise, or guarantee loan approval, sanction amount, interest rate percentage, or disbursal timelines. Final underwriting rests solely with partner banks.

Market Rate Fluctuations

Interest rates, processing fees, and margin requirements displayed on our site are indicative approximations and fluctuate based on RBI repo rate revisions and bank policies.

System & Server Availability

We do not warrant that our website, calculations, or server transmissions will operate error-free, uninterrupted, or immune from technical downtime.

Exclusion of Consequential Loss

In no circumstance shall the Company or its leadership be liable for any punitive, indirect, special, or consequential damages resulting from loan rejections or delays.

CLAUSE 09

Zero Upfront Fee Policy & Public Warning

Ashapura Financial Services operates on an ethical corporate model. We do not collect upfront cash deposits, advisory bribes, or unofficial approval fees from applicants.

Transparent Fee Disclosure:

- Legitimate loan processing charges, valuation charges, and administrative fees are deducted directly by the lending bank/NBFC from your sanctioned disbursement or paid directly to the bank via official payment links.
- Ashapura Financial Services is compensated directly by its partner institutions through formal channel partner agreements.
- Never transfer money into personal savings accounts or GooglePay/PhonePe handles of any individual claiming to represent Ashapura without written corporate confirmation. The Company disclaims all responsibility for transactions conducted with unauthorized imposters.

CLAUSE 10

Data Security Protocols & Encryption

We prioritize safeguarding your sensitive financial documents against unauthorized access, theft, or interception through robust technical and organizational safeguards:

SSL 256-Bit Transport Encryption

All data exchanged between your web browser and our servers is secured with industry-grade SSL/TLS cryptographic protocols.

Role-Based Access Controls

Access to applicant files is strictly restricted to assigned senior loan officers and verified compliance personnel on a strict need-to-know basis.

Secure Document Storage

Physical and electronic records are maintained within firewall-protected repositories adhering to standardized data hygiene benchmarks.

Confidentiality Undertakings

All staff, channel associates, and employees are bound by strict non-disclosure agreements regarding customer financial data.

CLAUSE 11

Data Retention & Statutory Audit Timelines

Ashapura Financial Services retains personal and financial records only for the period necessary to fulfill the operational purpose for which they were gathered, or to satisfy statutory legal, accounting, tax, or regulatory reporting requirements under Indian law:

Active Applications: Retained throughout the duration of loan facilitation, credit verification, and final disbursement;
Completed & Disbursed Loan Records: Retained for a minimum statutory period of up to 5 to 8 years in accordance with the Prevention of Money Laundering Act (PMLA), 2002 and Income Tax regulations;
Incomplete or Rejected Inquiries: Retained for up to 24 months to address applicant follow-up inquiries, prevent duplicate processing, and maintain statistical audit trails.

CLAUSE 12

Customer Rights under the DPDPA 2023

In compliance with the Digital Personal Data Protection Act, 2023 (DPDPA) and Reserve Bank of India consumer protection standards, you are entitled to exercise the following data principal rights:

Right to Information

You may request a summary of personal data collected, processing activities undertaken, and the identities of partner banks with whom data was shared.

Right to Rectification

You have the right to request immediate correction or updating of inaccurate, outdated, or incomplete personal data in our records.

Right to Erasure (Conditional)

You may request data deletion where retention is no longer necessary, subject to statutory PMLA and banking audit requirements that supersede erasure requests.

Right to Grievance Redressal

You have the unencumbered right to register concerns or data disputes with our designated Grievance Redressal Officer.

CLAUSE 13

Cookies, Web Beacons & Analytics

Our website utilizes standard cookies, web beacons, and transient session tokens to recognize your device, preserve interactive form state, measure portal responsiveness, and compile aggregated statistical metrics.

Most contemporary web browsers automatically accept cookies by default. You can modify your browser settings to decline cookies or alert you when a cookie is placed. Note that disabling essential cookies may impact interactive functionality, such as our EMI Calculators or instant loan pre-qualification forms.

CLAUSE 14

Third-Party External Links & Platforms

Our website and digital correspondence may feature hyperlinks directing you to third-party domains, such as partner bank web portals, official payment gateways, social networks (Facebook, Instagram, YouTube), or messaging services (WhatsApp).

Ashapura Financial Services holds no proprietary interest in, nor control over, the privacy frameworks, cookies, or digital security practices of external websites. Navigating to third-party domains is undertaken entirely at your own discretion and risk.

CLAUSE 15

Unilateral Right to Amend & Update Terms

Ashapura Financial Services reserves the express, unilateral right to revise, modify, augment, or amend this Privacy Policy at any time in response to evolving statutory requirements, technological enhancements, or organizational changes without prior individualized notice.

Any updates will take effect immediately upon publication on this page, indicated by the revised "Last Updated" date at the top of this document. Continued utilization of our web services following any amendment constitutes your complete acceptance of the revised terms.

CLAUSE 16

Governing Law & Exclusive Jurisdiction

Mandatory Territorial Jurisdiction — Bengaluru, Karnataka:

This Privacy Policy, all operations of Ashapura Financial Services, and any disputes, controversies, or legal claims arising out of or related to website usage, loan facilitation, or data management shall be governed by, construed, and enforced strictly in accordance with the laws of the Republic of India.

You irrevocably agree that the competent courts and tribunals situated exclusively in Bengaluru, Karnataka, India shall have sole, exclusive territorial jurisdiction over any legal proceedings, arbitrations, or judicial claims arising in connection with this agreement, to the exclusion of all other courts.

CLAUSE 17

Grievance Redressal Officer & Contact Desk

In accordance with the Information Technology Act, 2000, the Digital Personal Data Protection Act, 2023, and Reserve Bank of India customer redressal directives, the contact particulars of our designated Grievance Redressal Officer are set forth below:

DESIGNATED DATA PROTECTION & GRIEVANCE OFFICER

Grievance Redressal Desk

Ashapura Financial Services

Headquarters Address: 133 Manjunath Bldg, 3rd Cross, 2nd Main, Krishna Reddy Layout, Electronic City, Bengaluru 560100, Karnataka, India

Direct Helpline: 084310 02626 / +91 84310 02626

Official Compliance Email: support@ashapurafinancialservices.com

Support Timings: Monday through Saturday, 9:30 AM to 7:00 PM IST (Excluding National & State Holidays)

Statutory Redressal Timeline: All written grievances and data requests are officially acknowledged within 48 hours of receipt and resolved within 15 to 30 working days following verification.

Privacy Policy & Data Protection

Operational Transparency & Dual-Protection Summary