Last updated: 1st Mar, 2023
This Website (https://www.rainapp.com/in), the Rain mobile application and other related internet based applications (collectively referred to as “website” or “services” or “app”) is owned and operated by InCred Financial Services Limited (formerly known as KKR India Financial Services Limited), (hereinafter referred to as “We”, or “Us” or “Our” or “InCred”), a Company incorporated under Companies Act, 1956 and having its registered office at unit No. 1203, 12th Floor, B Wing, The Capital, Plot No. C - 70, G Block, Bandra - Kurla - Complex, Bandra East, Mumbai - 400 051.
You are also advised to please take note that any statements made on the InCred website/application shall not be construed as an offer or promise for grant of any financial services.
InCred will only be using the information for providing the Services to you.
IF YOU DO NOT AGREE TO THIS POLICY OR ANY PART THEREOF, PLEASE DO NOT USE/ ACCESS/ DOWNLOAD/ INSTALL THE APPLICATION OR ANY PART THEREOF.
2. INFORMATION COLLECTED AND USED BY INCRED
This section describes the information we may collect about you and how we use that information and is divided into two sections - a) Data provided by you and b) Information we collect with your explicit consent in order to render our services
Data provided by you
i. Data provided by you by filling in forms on the Website or associated internet applications.
ii. Data provided by corresponding with us (for example, by e-mail or chat or call).
iii. Data and information, you provide when you register to use the Website or associated internet applications, subscribe to any of our Services (such as applying for a loan), search for a Service, and when you report a problem with our App, our Services, or any of our Sites.
iv. Data including your name, address, gender, date of birth, e-mail address, phone number, username, password and other registration information.
v. Identity Proof, Address Proof,PAN Card, proof of possession of Aadhaar Card (with Aadhaar number duly redacted or blocked out), financial information such as employer name, monthly salary, bank account no., bank statements, credit information, copies of identification documents
vi. Data generated by your usage of our website and associated internet applications
This data helps us create your profiles, complete mandatory KYC, decision on loans and provide you with customised support in case of issues as well as ongoing staff training and quality checks.
Information we collect about you and how we use that information
3. PURPOSE OF INFORMATION COLLECTED BY INCRED:
Apart from section 2 where we describe the information we collect and how we use the information we collect, we may also use the information we collect for the following purposes:
(a) To provide products or services you have requested.
(b) To provide information to our partners to assist in making credit decisions about you.
(d) To disclose the information under special circumstances such as compliance with the applicable local law, court summons, court orders, requests/order from legal authorities or law enforcement agencies requiring such disclosure.
(e) Search credit bureaus, generate credit reports and fraud prevention agencies.
(f) To get in touch with you when necessary and contact you by email, SMS, letter, telephone or in any other way about our products and services.
(g) To identify, prevent, detect or tackle fraud, money laundering, terrorism and other crimes.
(h) To form a view of your credit worthiness, as per InCred policies and to identify, develop or improve products that may be of interest to you.
(i) Provide information to independent external bodies such as governmental departments and agencies, universities and similar to carry out research.
(j) Perform other administrative and operational actions including the testing of systems.
(k) Trace your whereabouts for the purpose of on-boarding / KYC (know your customer) requirements.
(l) Recover any payments you owe to InCred or partners.
(m) To show you advertisements.
(n) Contact you as a survey respondent.
(o) To maintain records under applicable law or a may apply to pursuant to agreements executed by InCred.
(p) Carry out, monitor and analyse our business, Carry out market research, business, and statistical analysis and also direct our efforts for product improvement.
(q) Carry out process review and audits under regulatory framework
(j) Details required for administration or services and product improvement.
(k) Record and/or monitor calls if InCred feel necessary for quality checks and staff training. Such recordings may also be used to help InCred combat fraud.
(r) Location information – for validating your address and to increase the chances of your loan approval. These accesses are for the purpose of on-boarding/ KYC (know your customer) requirements.
(s) Information about Apps and Accounts – for credit profile enrichment.
(t) Information about Apps and Accounts – for credit profile enrichment.
(u) to avail identity verification services
(v) To generate and maintain User profiles, to provide personalised features, to facilitate collection activities, to maintain regular communications with the User
(w) To use/modify/display, distribute and create new material from the information you provide
4. DATA RETENTION AND DELETION
We at InCred, promise to protect your personal data from unauthorised access, misuse, and disclosure using the right security measures based on the type of data and how we are processing the same. We retain information about you to provide a seamless experience, to contact you in case of support required and about your account, to detect, mitigate, prevent, and investigate fraudulent or illegal activities during the course of the Services. We retain your data for as long as necessary based on statutory requirements and to provide you with our services. We may also retain and use your basic personal information inter alia as name, contact number, transactional details and address details as necessary to comply with our legal obligations, resolve disputes, send you notifications about dues or past dues that you owe to InCred and enforce our agreements which shall always be in accordance with applicable laws.
5. PROCEDURE FOR DATA DESTRUCTION AND REMOVAL OF USER DETAILS FROM THE RECORD:
User desirous of having his/her name and other details removed from the records of InCred, on receiving the User’s request in the InCred app, InCred shall, subject to the terms mentioned in section 4 and extant acts, rules, regulations, supervisory body/ies guidelines, directions, circulars, notification, as amended from time to time/any statutory modification thereto, or re-enactment thereof, modify, remove and/delete such information. Once the requested action has been taken, InCred will inform you via email or call, as per the user’s preference. However, you may not be able to use our services after deletion.
6. SPECIFIC CONSENT
A. You consent and grant us authority to share your information with third parties to
B. By using the Website/Services you authorise us, our affiliates & our associate partners to contact you via email or phone call or sms and offer you their services/ product, imparting product knowledge, offer promotional offers running on their websites & offers offered by the associated third parties. Irrespective of the fact if you have also registered yourself under DND or DNC or NCPR service, you still authorise us to give you a call from InCred & its associates/partners for the above-mentioned purposes.
D. You can revoke consent already granted to collect personal data at any point in time on your device by using the privacy controls available to you. Please note however that this might impact our ability to render our services to you.
7. SHARING OF INFORMATION
InCred shall not will not rent, sell or share User information and will not disclose any of the User’s personally identifiable information to third parties (apart from the third parties whose details are mentioned in the links provided herein. Click here and here for a full list), except when the disclosure is
(a) pursuant to obtaining the User’s permission
(b) in connection with disclosure to financial institutions and banks
(c) in connection with the services being rendered through the App
(d) help investigate, prevent or take action regarding unlawful and illegal activities
(e) special circumstances such as compliance with court orders.
(f) to enforce your contractual obligations to us.
8. SECURITY SAFEGUARDS AND ONGOING VIGIL:
InCred intends to protect your information and to maintain its accuracy as confirmed by you. We implement reasonable physical, administrative and technical safeguards to help us protect your information from unauthorised access, use and disclosure. For example, we encrypt all information when we transmit over the internet. We also require that our registered third-party service providers protect such information from unauthorised access, use and disclosure.
InCred has stringent security measures in place to protect the loss, misuse and alteration of information under control. We endeavour to safeguard and ensure the security of the information provided by you. We use Secure Sockets Layers (SSL) based encryption, for the transmission of the information, which is currently the required level of encryption in India as per applicable law.
We aim to protect from unauthorised access, alteration, disclosure or destruction of information we hold, including:
However, we do not warrant that such User information may not be misused in the event our safeguards and protocols are breached by a malicious third-party. Your use of the App is at your sole risk and discretion. You shall be the custodian of your password and comply with the applicable terms mentioned in the Website/Application in this regard., We are not liable to actions of other users with whom you may choose to share your information. The collection, usage, and sharing of User information are in compliance with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 and other applicable laws.
9. STANDARDS FOR HANDLING DATA BREACHES:
While InCred invests in best in class Data Safety and Security Standards, in the improbable event of a data breach; InCred will activate its Incident Management protocol to mitigate and safeguard our user’s data. Furthermore, InCred shall inform and update its users as prescribed by the prevalent guidelines at the time.
10. PROCEDURE FOR CORRECTING INACCURACIES IN YOUR INFORMATION:
In the event that any Personal Information provided by You is inaccurate, incomplete or outdated then You shall have the right to provide Us with the accurate, complete and up to date data and have Us rectify such data at Our end immediately. We urge You to ensure that You always provide Us with accurate and correct information/data to ensure Your use of Our Services is uninterrupted. In case of modification of Personal Information, Users will be required to furnish supporting documents relating to change in Personal Information for the purpose of verification by InCred.