Privacy Policy

PRIVACY POLICY

INTRODUCTION

‘Akar Auto Industries Limited (Also referred to as ‘Akar’) and utmost importance to the protection and privacy of the information collected by us or submitted by the customers, dealers and visitors by using ‘Akar’ website/App.

‘Akar is committed to ensure the privacy of the visitor’s information. This privacy is intended to let you know what personal information we collect, why we collect and what we do with it, processing/sharing and transfer of personal information and your right relating to such personal information shared with us. By using ‘Akar’ website / Apps, you agree, understand and consent to this Privacy Policy and any future amendments and additions. Any information collected by any other source other than ‘Akar’ website is not part of this privacy policy.

INFORMATION WE OBTAIN

We obtain the following forms of information from you:

A. Information You Submit

You may choose to provide us with personal information through the Platform, like:

1. Contact information, such as your name, address, telephone number and email address.
   1. Payment information, such as your payment card details.
   1. Information obtained from the account you use to login to the Platform.
   1. Personal information in communications and other content you submit or share, such as photographs and video clips.
   1. Information about services received/rendered on the Platform.
   1. KYC Documents.
   1. Beneficiary account details

B. Information We Collect By Automated Means

If you use the Platform, we may collect the following information by automated means:

• The type of device you use and its operating system.

• Identification details of your device (e.g., unique device identifier):
  We collect and monitor the information about the location of your device to provide serviceability of your loan application, to reduce risk associated with your loan application and to provide pre-approved customised loan offers. This also helps us to verify the address, make a better credit risk decision and expedite know your customer (KYC) process. Information the App collects, and its usage, depends on how you manage your privacy controls on your device. When you install the App, we store the information we collect with unique identifiers tied to the device you are using. We collect information from the device when you download and install the App and explicitly seek permissions from you to get the required information from the device. The information we collect from your device includes the hardware model, build model, RAM, storage; unique device identifiers like IMEI, serial number, SSAID; SIM information that includes network operator, roaming state, MNC and MCC codes, WIFI information that includes MAC address and mobile network information to uniquely identify the devices and ensure that no unauthorised device acts on your behalf to prevent frauds.

1. Internet protocol (“IP”) address.

1. Information about your use of the Platform.

1. Location

1. Collection of financial SMS information
   we don’t collect, read or store your personal SMS from your inbox. We collect and monitor only financial SMS sent by 6-digit alphanumeric senders from your inbox which helps us in identifying the various bank accounts that you may be holding, cash flow patterns, description and amount of the transactions undertaken by you as a uses to help us perform a credit risk assessment which enables us to determine your risk profile and to provide you with the appropriate credit analysis. This process will enable you to take financial facilities from the regulated financial entities available on the Platform. This Financial SMS data also includes your historical data.

1. We collect a list of the installed applications’ metadata information which includes the application name, package name, installed time, updated time, version name and version code of each installed application on your device to assess any difficulties faced by users.

1. Camera
   
   

We require the camera information permission to provide you an easy/smooth experience and to enable you to click photos of your KYC documents along with other requisite documents and upload the same on the App.

• De-Identified and Non-Personally Identifiable Information
  we automatically track certain information about you based upon your behaviour on our Platform. We use this information to do internal research on our users’ demographics, interests, and behaviour to better understand, protect and serve our users and improve our services. This information is compiled and analysed on an aggregated basis. We also collect your Internet Protocol (IP) address and the URL used by you to connect your computer to the internet, etc. This information may include the URL that you just came from (whether this URL is on our Website or not), which URL you next go to (whether this URL is on our Website or not), your computer browser information, and your IP address. Cookies are small data files that a Website stores on your computer. We will use cookies on our Website similar to other lending websites / apps and online marketplace websites / apps. Use of this information helps us identify you in order to make our Website more user friendly. Most browsers will permit you to decline cookies but if you choose to do this it might affect service on some parts of Our Website. If you choose to make a purchase through the Platform, we collect information about your buying behaviour. We retain this information as necessary to resolve disputes, provide customer support and troubleshoot problems as permitted by law. If you send us personal correspondence, such as emails or letters, or if other users or third parties send us correspondence about your activities or postings on the Website, we collect such information into a file specific to you.
  We may de-identify personal information that we have collected from you through the Platform and combine it with de-identified information about other users, information from third parties, and/or publicly available information.

• Platform Visitor ship Information
  
  

We gather information from the Website activity, such as data on the number of people who visit the Platform, the pages they visit, the duration of their stay, etc. Platform Visitor ship Information includes:

1. Collected on an aggregate, anonymous basis, which means no personal identifiable information is associated with this data.

• Gathered through the use of web server logs and cookies.

USE OF INFORMATION COLLECTED

We use the information we collect about you to establish your account and provide Services, provide customized content to you, communicate with you to inform about our features and services, promotional messages and take action regarding unlawful or harmful activities. We may use your email address or phone number (if provided by you) to contact you regarding changes to the Services, system maintenance and outage issues, account issues, or otherwise to troubleshoot problems.

STORAGE AND MAINTENANCE OF INFORMATION COLLECTED

Although we may store or track information about you, however, we shall not be obligated to do so and may delete any information and records, in whole or in part, solely at our discretion.

We require storage permission so that you’re KYC and other relevant documents can be securely downloaded and saved on your phone. You can then easily upload the correct KYC related documents for faster loan application details filling and disbursal process. This ensures that you are provided with a seamless experience while using the application.

LINK TO THIRD-PARTY SDK

The App has a link to a registered third party SDK which collects data on our behalf and data is stored to a secured server to perform a credit risk assessment. We ensure that our third party service provider takes extensive security measures in order to protect your personal information against loss, misuse or alteration of the data. Our third-party service provider employs separation of environments and segregation of duties and has strict role-based access control on a documented, authorised, need-to-use basis. The stored data is protected and stored by application-level encryption. They enforce key management services to limit access to data. Furthermore, our registered third party service provider provides hosting security – they use industry leading anti-virus, anti-malware, intrusion prevention systems, intrusion detection systems, file integrity monitoring, and application control solutions.

DISCLOSURE OF INFORMATION

Our customer’s privacy is extremely important to us. However, we may disclose certain information obtained due to the following:

1. To our employees, in order to diagnose and resolve any problems or to provide support to you.

• To any other person, who performs services on our behalf, including credit-card and billing, survey administration, technical or customer support, shipping, and provision of email and data analytics
• To the business partners, who can alert you about the new service upon receipt of any alert, if you desire to be removed from such alert list, you may inform the sender or unsubscribe from the list as provided in each mail alert.

• If we are required to do so by law, regulation or legal process, such as a court order or in response to legal requests by government agencies or when we believe disclosure is necessary or appropriate to prevent physical, financial or other harm, injury or loss or in connection with an investigation of suspected or actual unlawful activity.

• Data can be used for third party integration in order to provide additional services.

USE OF COOKIES

We use traffic log cookies to identify which pages are being visited. This helps us analyse data about webpage traffic and improve our website in order to tailor it to visitor needs. We only use this information for statistical analysis purposes and then the data is removed from the system.

Overall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.

You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.

SECURITY OF DATA

We are committed to ensuring that your information is secure. In order to prevent unauthorized access or disclosure, we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect online. However, we cannot guarantee the security of the personal information transmitted to us via Internet, although we use our best endeavours to do so, we will not be liable in any way in relation to breach of security during internet transmission of personal information, including any unintended loss, misuse, alteration or disclosure of that information. It is important for you to protect against unauthorised access to your password and to your computer. Be sure to sign off when you finish using a shared computer. Notwithstanding anything contained in this Policy or elsewhere, we shall not be held responsible for any loss, damage or misuse of your Personal Information, if such loss, damage or misuse is attributable to a Force Majeure Event or a reason not within our control or to any reason attributable to you.

LINK TO THIRD PARTY WEBSITES

Our website may contain links to other websites of interest. However, once you have used these links to leave our site, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information which you provide whilst visiting such sites and such sites are not governed by this privacy statement. You should exercise caution and look at the privacy statement applicable to the website in question.

FORCE MAJEURE

Notwithstanding anything contained in this Privacy Policy or elsewhere, we shall not be held responsible for any loss, damage or misuse of your user information, if such loss, damage or misuse is attributable to a Force Majeure Event. “Force Majeure Event” shall mean any event that is beyond our reasonable control and shall include without limitation, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, network errors, computer hacking, technical snags, unauthorised access to computer data and storage device, breach of security and encryption and any other like event beyond our control.

GOVERNING LAWS AND DISPUTE RESOLUTION

The courts of Aurangabad, Maharashtra, India shall have exclusive jurisdiction in respect of all matters arising out of, or concerning or incidental to using of the website / Website. The parties hereby consent to the exclusive jurisdiction of Aurangabad courts (and of the appropriate courts therefrom) and irrevocably waives, to the fullest extent permitted by law, any objection which it may have now or hereafter to the jurisdiction of courts at Aurangabad, Maharashtra, India.