Privacy Policy

Sarvam Fintech Private Limited, is a private limited fintech company incorporated in India, operating under the brand name of “Scholfe” (“We”/ “Us”/ “Our”) and is engaged in the business of providing easy, transparent and speedy loans using innovative technology solutions (“Services”) to its clients (who shall hereinafter be referred to as “You”, “Your” “User” as applicable). The Services shall be rendered either through its website at https://www.scholfe.com (“Website”) or through various mobile applications that are made available to you (“Applications”) from time to time (the Website and Application shall be collectively referred to as “Platform”).

We are committed to protection of the information provided by you and this Privacy Policy and disclaimer, as amended from time to time (“Privacy Policy”) forms part and parcel of the Platform’s terms and conditions and is included therein by this reference. This Privacy Policy covers our practices for collecting and processing Personal Information (as detailed below) and maintaining the confidentiality, integrity and security of your Personal Information is of utmost important to us. 

This Privacy Policy is applicable to the Platform alone and does not apply to the websites of our business partners, service providers, corporate affiliates or to any other third parties, even if their websites are linked to the site. While these third parties have access to your Personal Information only to perform these tasks on our behalf and are obligated not to disclose or use it for any other purpose, we recommend you to review the respective privacy statements of the other parties with whom you interact. 

Please read this Privacy Policy carefully before using the Platform along with the Terms and Conditions (“Terms”) provided on Platform. This Privacy Policy and the Terms constitute your agreement with us.  Unless otherwise defined in this Privacy Policy, the terms used in this Privacy Policy have the same meanings as in our Terms.

BY ACCESING THE PLATFORM, YOU WILL BE BOUND BY THIS PRIVACY POLICY FOR USING THE SERVICES OR BY OTHERWISE GIVING US YOUR PERSONAL INFORMATION, YOU AGREE TO BE BOUND BY THE PRACTICES AND POLICIES OUTLINED IN THIS PRIVACY POLICY AND YOU HEREBY CONSENT TO OUR COLLECTION, USE AND SHARING OF YOUR INFORMATION AS DESCRIBED IN THIS PRIVACY POLICY. 

WE RESERVE THE RIGHT TO CHANGE, MODIFY, ADD OR DELETE PORTIONS OF THE TERMS OF THIS PRIVACY POLICY, AT OUR SOLE DISCRETION, AT ANY TIME. IF YOU DO NOT AGREE WITH THIS PRIVACY POLICY AT ANY TIME, DO NOT USE ANY OF THE SERVICES OR GIVE US ANY OF YOUR INFORMATION. IF YOU USE THE SERVICES ON BEHALF OF SOMEONE ELSE (SUCH AS YOUR CHILD) OR AN ENTITY (SUCH AS YOUR EMPLOYER), YOU REPRESENT THAT YOU ARE AUTHORISED BY SUCH INDIVIDUAL OR ENTITY TO ACCEPT THIS PRIVACY POLICY ON SUCH INDIVIDUAL’S OR ENTITY’S BEHALF.

WHAT CONSTITUTES AS PERSONAL INFORMATION?
When you access our Platform, we collect, store and retain certain potential information for provision of Services, when you fill out the Registration Form to avail our Services, including but not limited to the following:

In addition to the above, the following information is defined as “Personal Information” is defined under Information Technology (Reasonable Security Practices & Procedures and Sensitive Personal Data or Information) Rules, 2011 (“SPDI Rules”) to mean any information that relates to a natural person, which, either directly or indirectly, in combination with other information available or likely to be available with a body corporate, is capable of identifying such person. 

The SPDI Rules further define “sensitive personal data or information” of a person to mean personal information about that person relating to the following: (i) passwords; (ii) financial information such as bank accounts, credit and debit card details or other payment instrument details; (iii) physical, physiological and mental health condition; (iv) sexual orientation; (v) medical records and history; (vi) biometric information; (vii) information received by body corporate under lawful contract or otherwise; (viii) visitor details as provided at the time of registration or thereafter; and (ix) call data records. (The points above shall be collectively referred to as "Personal Information").

You shall, at any time while using the Platform and/or the Services, also have an option to withdraw your consent given earlier to us to use such Personal Information. Such withdrawal of the consent is required to be sent in writing to us at the contact details provided in this Privacy Policy below. In such event, however, we fully reserve the right not to allow further usage of the Platform and/or provide any Services thereunder to you.

HOW IS PERSONAL INFORMATION COLLECTED? 

We may collect information either actively, as described above, or passively.   To improve the responsiveness of the Platform, as you navigate through a website, certain information can be passively collected (that is, gathered without your actively providing the information) using various technologies and means, such as Internet Protocol addresses, cookies, Internet tags, and navigational data collection. 

The Website may use Internet Protocol (IP) addresses. An IP Address is a number assigned to your computer by your Internet service provider so you can access the Internet and is generally considered to be non-personally identifiable information, because in most cases an IP address is dynamic (changing each time you connect to the Internet), rather than static (unique to a particular user's computer). We use your IP address to diagnose problems with our server, report aggregate information, determine the fastest route for your computer to use in connecting to our site, and administer and improve the site.

A "cookie" is a bit of information that a website sends to your web browser that helps the site remember information about you and your preferences. You can set your browser to reject cookies, however not all aspects of the site may be available to you if you choose to do so.

"Session" cookies are temporary bits of information that are erased once you exit your Web browser window or otherwise turn your computer off. Session cookies are used to improve navigation on websites and to collect aggregate statistical information. This site uses session cookies. 

"Persistent" cookies are more permanent bits of information that are placed on the hard drive of your computer and stay there unless you delete the cookie. Persistent cookies store information on your computer for a number of purposes, such as retrieving certain information you have previously provided (e.g., passwords), helping to determine what areas of the website visitors find most valuable, and customizing the website based on your preferences. 

"Internet tags" (also known as single-pixel GIFs, clear GIFs, invisible GIFs, and 1-by-1 GIFs) are smaller than cookies and tell the website server information such as the IP address and browser type related to the visitor's computer. This site uses Internet tags. Tags have been placed both on online advertisements that bring people to the site and on different pages of the site. These tags indicate how many times a page is opened and which information is consulted. We do not collect or seek personally identifiable information through these tags. 

"Navigational data" ("log files," "server logs," and "clickstream" data) are used for system management, to improve the content of the site, market research purposes, and to communicate information to visitors. This site uses navigational data.

Please be informed that we use the following cookies:

“Preference Cookies” to remember your preferences and various settings.
“Security Cookies” We use Security Cookies for security purposes.

You can instruct your browser to refuse all cookies or to indicate when a cookie is being sent. However, if you do not accept cookies, you may not be able to use some portions of our Services.

OTHER DATA COLLECTED:

HOW DO YOU CONSENT TO OUR USE OF YOUR PERSONAL INFORMATION?

By providing your Personal Information (including any changes thereto as may be provided by you from time to time) and / or accessing the site, you are consenting to collection, storage, use and disclosure of your Personal Information by us for the purposes and to the persons (as applicable) outlined in this Privacy Policy (as amended from time to time). Collection of information which has been designated as ‘sensitive personal data or information’ under the SPDI Rules requires your express consent and by affirming your assent to this Privacy Policy, you provide your consent to such collection as required under applicable law. Our Services may be unavailable to you in the event such consent through an email is not given or choose to withhold Personal Information. In such cases, we will not be liable and/or responsible for the denial of its Services to you on account of inadequacy of Personal Information provided by you. As outlined in this Privacy Policy, we will not process your Personal Information without a lawful basis to do so. In general, we may process your Personal Information on the legal basis of: (i) consent (where we have obtained your prior, express consent to the processing; (ii) contract (if you have either availed Services and/or entered into an agreement with us and such processing is a necessary part thereof); (iii) compliance with Applicable Laws (as set forth below); (iv) to protect the vital interests of any individual. 

USAGE OF PERSONAL INFORMATION

Our primary goal in collecting your Personal Information is to provide you with a smooth, efficient and customized experience. This also allows us to provide our Services and features that are most likely to meet your needs, and to customize the Platform and our Services in a hassle-free manner to you. 

We use the Personal Information collected from you for the following: (a) to provide and maintain our Services; (b) to notify you about changes to our Services;(c) to allow you to participate in interactive features of our Services when you choose to do so; (d) to provide customer support; (d) to gather analysis or valuable information so that we can improve our Services; (e) to monitor the usage of our Services; (f) to detect, prevent and address technical issues; (g) to fulfil any other purpose for which you provide it; (h) to carry out our obligations and enforce our rights arising from any contracts entered into between you and us, including for billing and collection; (i) to provide you with notices about your account and/or subscription, including expiration and renewal notices, email-instructions, etc.;(j) to provide you with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or enquired about unless you have opted not to receive such information; (k) in any other way we may describe when you provide the information and (l) for any other purpose with your consent.

ACCESS AND DELETION OF PERSONAL INFORMATION

When you sign up for our Services, you are opting in to receive emails, text messages and/or WhatsApp messages from us. We will take reasonable steps to accurately record the Personal Information that you provide to us and any subsequent updates. As a user, you have the right to access, correct, delete or transfer your Personal Information that we hold, including registration details.

You can log in to manage your email preferences and follow the "unsubscribe" instructions in commercial email messages. If required by you, we will delete the Personal Information provided by you in connection with the Services. We will remove your public posts from view and/or dissociate them from your account profile, but we may retain information about you for the purposes authorized under this Privacy Policy, unless prohibited by law. Thereafter, we will either delete your Personal Information or de-identify it so that it is anonymous and not attributed to your identity. Upon deletion of your Personal Information, copies of your Personal Information may remain viewable in cached and archived pages.

RETENTION OF PERSONAL INFORMATION 

We can retain Personal Information for as long as needed or permitted in light of the purpose(s) for which it was obtained and consistent with Applicable Law. The criteria for determining the duration for which we will keep your Personal Information are as follows: (i) we will retain copies of your Personal Information in a form that permits identification only for as long as is necessary in connection with the purposes set out in this Privacy Policy, including for the length of time we have an ongoing relationship with you and provide the Services to you; (ii) if there is a legal obligation to which we are subject (for example, certain laws require us to keep records of your transactions for a certain period of time before we can delete them); or (iii) keeping in view our legitimate interests (litigation or regulatory investigations). Therefore, for the above reasons or for any other reasons found to be pertinent by us,  you should not expect that all of your Personal Information will be completely removed from our databases in response to your requests.

DISCLOSURE OF PERSONAL INFORMATION

We will share your Personal Information with only our registered third parties including our regulated financial partners for provision of Services on the Platform and/or for facilitation of a loan / facility to a User. We will share your Personal Information with third parties only in such manner as described below:

In case we use or disclose your Personal Information for any purpose not specified above, we will take your explicit consent.

APPLICABLE LAWS

For the purposes of this Privacy Policy, we hereby declare that this document is an electronic record in terms of Section 43A of the Information Technology Act, 2000 and rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000 and is generated by a computer system and does not require any physical or digital signatures. Further, we declare that it shall always be in adherence with the Consumer Protection (E-Commerce) Rules 2020, to the extent applicable to the Services rendered by us.

This Privacy Policy is published in accordance with the provisions of Rule 4(1) of SPDI Rules that require publishing the rules and regulations, privacy policy and Terms for access or usage of the Platform and Regulation 3(1) of the Information Technology (Intermediaries Guidelines) Rules 2011.

LINKS TO THIRD PARTY WEBSITES

The Platform may contain links or references to other websites. Please be aware that we do not control other websites and that this Privacy Policy does not apply to those websites.  

Once you leave our servers (you can tell where you are by checking the URL in the location bar on your browser), use of any information you provide is governed by the privacy policy of the operator of the site you are visiting. We encourage you to read the privacy policy of every website you visit. If you can't find the privacy policy of any of these sites via a link from the site's homepage, you should contact the site directly for more information. 

Please note that we may be required to share your Personal Information with third parties for the purposes of rendering Services to you (such third parties may include any service providers, vendors, design partners, service partners, etc) and by agreeing to this Privacy Policy, you provide your consent to share the Personal Information collected by us to such third parties.

CHILDREN’S PRIVACY

Our Services are not intended for use by children under the age of 18 (“Child” or “Children”). We do not knowingly collect personally identifiable information from Children under the age of 18 years. If you become aware that a Child has provided us with Personal Information, please contact us. If we become aware that we have collected Personal Information from Children without verification of parental consent, we take steps to remove that information from our servers.

PROHIBITED ACTIONS

While using our Platform, you hereby agree not to, by any means (including hacking, cracking or defacing any portion of the Platform) indulge in illegal or unauthorized activities including the following: (i) restrict or inhibit any authorized user from using the Platform; (ii) use the Platform for unlawful purposes; (iii) collect information about other users without their express consent; (iv) copy and/or reproduce any part of the Platform without our prior authorization; (iv) engage in spamming or flooding; (v) transmit any software or other materials that contain any virus, time bomb, or other harmful or disruptive component; (vi) remove any copyright, trademark or other proprietary rights, owned by us and contained in the Platform; (vii) use any device, application or process to retrieve, any data stored; and/or (viii) permit or help anyone without access to the Platform to use the Platform through your username and password or otherwise.

CONFIDENTIALITY OF PERSONAL INFORMATION

The Personal Information collected from you will, at all time during retention, be maintained by us (including its employees, representatives, partners, etc) in strict confidence and we will take all necessary precautions to protect your Personal Information both online and off-line, and implements reasonable security practices and measures including certain managerial, technical, operational and physical security control measures that are commensurate with respect to the information being collected and the nature of our business. 

However, please take note that, we do not undertake any liability for any un-authorised use of your account and password. If you suspect any unauthorized use of your account, you must immediately notify us by sending an email to info@scholfe.com. You shall be solely liable to indemnify us due to any loss suffered by it due to such unauthorized use of your account and password. 

Notwithstanding the above, we shall not be responsible for the confidentiality, security or distribution of your Personal Information by our partners and third parties outside the scope of our agreement with such partners and third parties. 

Further, while the security of your Personal Information collected is important to us and we shall use reasonable security measures to safeguard the confidentiality of your Personal Information, such as "firewalls," Secure Socket Layers (SSL), and other physical and electronic security measures, by accepting to this Privacy Policy, you acknowledge that there are no methods of transmission over the Internet or methods of electronic storage, that are 100% secure. Therefore, we shall not be responsible for any breach of security or for any actions of any third parties or events that are beyond our reasonable control including, acts of government, computer hacking, unauthorised access to computer data and storage device, computer crashes, breach of security and encryption, poor quality of Internet service or telephone service of the User etc.

CHANGES TO THIS PRIVACY POLICY

We may update our Privacy Policy from time to time. We will notify you of any changes by posting the new Privacy Policy on this page. You are advised to review this Privacy Policy periodically for any changes. Changes to this Privacy Policy are effective when they are posted on this page.

CONTACT DETAILS

In case of any questions, queries, feedback, comments, or concerns about any of the terms of this Privacy Policy, you are requested to contact us at info@scholfe.com.

OTHER TERMS

Your use of the Platform will also be to our Terms and Conditions.