Privacy Statement

1. Introduction

BAUMEN SERVICES PRIVATE LIMITED("we","us","our") is committed to safeguarding your privacy. This Privacy Policy outlines how we collect, use, store, and protect your personal information when you use the Loan Baumen app and related services.

We have partnered with JAGRAWAL CREDITS PRIVATE LIMITED (Lender), a registered Non-Banking Financial Company(NBFC), to provide loan services through the Loan Baumen platform. In this arrangement, JAGRAWAL CREDITS PRIVATE LIMITED serves as the lender and is responsible for the disbursement and management of all loans.

Both BAUMEN SERVICES PRIVATE LIMITED and JAGRAWAL CREDITS PRIVATE LIMITED share the responsibility for handling and processing your personal information, ensuring compliance with applicable data protection laws, including the Information Technology(Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules,2011.

By accessing or using our services, you agree to the terms of this Privacy Policy, which governs how we handle your data across both parties involved in delivering the Loan Baumen app and services.

2. The Kinds of Personal Information We Collect

When you use Loan Baumen, we collect and store the following types of personal information:

Personal Information: Name, email address, phone number, date of birth, residential address, government-issued identification(e.g., PAN, Aadhaar).

Financial Information: Bank account details, income level, loan application details.

Device Information: IP address, device type, browser information, and user activity data on our platform.

Biometric Data: Facial data used for identity verification purposes.

3. How We Collect Your Personal Information

We collect your personal information through various means, including:

Directly from You: When you submit forms through the Loan Baumen app or website, or communicate with our support team.

Cookies & Tracking: We use cookies and other tracking technologies to enhance your experience, collect site usage data, and remember preferences.

Third-Party Services: We may receive personal data from third parties, such as credit bureaus or identity verification services, to assess your creditworthiness and verify your identity.

4. Purpose of Collecting Personal Information

We use the collected personal information for the following purposes:

Loan Processing: To assess, approve, and manage your loan applications.

Fraud Prevention: To ensure your identity is properly verified and to detect fraudulent activities.

Customer Support: To assist you with any issues you may have while using the Loan Baumen app or website.

Marketing: To send promotional material and updates related to our services. You can opt-out of these communications at any time.

5. Sharing Personal Information with Third Parties

We may share your personal information with the following third parties:

Credit Bureaus: To assess your creditworthiness during the loan application process

Identity Verification Providers: To verify your identity and prevent fraud

Regulatory Authorities: To comply with applicable legal and regulatory requirements.

Service Providers: To provide necessary operational or technical support.

We ensure that any third parties with whom we share your information comply with data protection regulations and only use your data for the specified purposes.

6. Biometric Data Collection and Usage

To prevent fraud and ensure secure access to our services, we collect biometric data, including facial images, for identity verification:

Purpose: Biometric data is used solely for verifying your identity during the loan application process.

Storage & Security: We use encryption to securely store your biometric data, ensuring that it is only accessible for verification purposes.

Withdrawal of Consent: You can withdraw your consent for the use of your biometric data at any time, which may affect your ability to use certain services.

7. SMS Access for Fraud Prevention

We request access to your SMS messages for fraud prevention and identity verification:

Purpose: We analyze SMS messages related to financial transactions to identify potential fraudulent activities and to assist with loan approvals.

Security: We ensure that your SMS data is stored securely and used only for the purposes of fraud prevention and identity verification.

Data Deletion: Once verification is complete, your SMS data will be securely deleted.

8. Data Security and Protection

We take the following steps to protect your personal data:

Encryption: Sensitive data, such as financial and biometric data, is encrypted both in transit and at rest.

Access Control: Only authorized personnel have access to your personal information.

Security Measures: We implement industry-standard security protocols to prevent unauthorized access, use, or disclosure of your data.

9. Data Retention Policy

We retain your personal information for as long as necessary to fulfill the purposes for which it was collected, including to comply with any legal, regulatory, or contractual obligations. Once your information is no longer needed for these purposes, we will take appropriate measures to securely delete or anonymize it. The data retention period may vary based on the nature of the service provided and the specific requirements of applicable laws.

10. International Data Transfers

Your personal information may be transferred and stored in countries outside India as part of our data processing systems and service operations. These countries may have different data protection laws, which may not be as strict as those in India. By using our services, you consent to the transfer of your data to such countries. We ensure that any such transfer complies with applicable data protection laws and that appropriate safeguards are in place to protect your data.

11. Children's Privacy Protection

Our services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children. If we learn that we have inadvertently collected personal information from a child, we will take steps to delete such information as soon as possible. If you believe we may have collected information about a child, please contact us immediately.

12. Privacy Policy Updates Notification

We may update or modify this Privacy Policy from time to time to reflect changes in legal requirements, our data collection practices, or the functionality of our services. We will post the updated Privacy Policy on our website, and where required, notify you of significant changes. We encourage you to review this Privacy Policy periodically. Continued use of our services after the changes are posted will signify your acceptance of those changes.

13. Third-Party Links and Services

Our app or website may contain links to third-party websites or services that are not operated or controlled by us. These third-party services may have their own privacy policies, and we encourage you to review them before providing any personal information. We are not responsible for the content, privacy practices, or security of any third-party sites. We disclaim any liability for their activities.

14. Automated Decision-Making

We use automated processes to assess your creditworthiness and make decisions related to your loan application. These decisions are based on the data you provide and the credit evaluation criteria we have established. If you disagree with an automated decision, you may request a manual review of your application by contacting our customer support team. Automated decision-making helps us process applications more efficiently and securely.

15. Legal Basis for Processing

The legal basis for processing your personal information includes, but is not limited to:

Consent: You have given us explicit consent to process your personal data for the purposes described in this Privacy Policy.

Contractual Necessity: Processing your personal information is necessary for the performance of the loan agreement you have entered into with us.

Legal Obligations: We are required to process your data to comply with applicable laws and regulations, such as those governing financial services and anti-money laundering requirements.

Legitimate Interest: We have a legitimate interest in processing your data for purposes such as fraud prevention, customer support, and improving our services.

16. Your Rights and Choices

Access: You have the right to request access to the personal information we hold about you. This includes the right to know what data we collect, how we use it, and with whom it is shared.

Correction: If you believe that any of your personal data is inaccurate or incomplete, you have the right to request corrections to ensure the information we hold is accurate and up-to-date.

Deletion: You have the right to request the deletion of your personal data, subject to any legal obligations or legitimate interests that may require us to retain certain information. We will delete your data when it is no longer necessary for the purposes for which it was collected.

Opt-Out: You can opt out of receiving marketing communications or promotional emails from us at any time. To do so, please contact us, and we will remove you from our marketing communications list.

Withdrawal of Consent: You have the right to withdraw your consent for specific processing activities, such as biometric data or SMS data processing. Once consent is withdrawn, we will cease processing your data for those activities, except where we are required to process your data by law or in order to fulfill a contractual obligation.

17. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. Any changes will be posted on our website and within the app. If significant changes are made, we will notify you in accordance with applicable laws.

18. Contact Us

If you have any questions or concerns about this Privacy Policy, or how we handle your personal information, please contact us at: