This document is an electronic record in terms of the Information Technology Act, 2000 and rules there under in force, and the provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000 from time to time. This electronic record is generated by a computer system and does not require any physical or digital signatures.
Welcome to CASHe! Aeries Financial Technologies Private Limited (“us”, “we”, or “Aeries” or “Company”) is the exclusive licensee in Indian territory of the CASHe technology and Website. By visiting the Website, you agree that these User T & C shall be a legally binding agreement between User and us/ One Capitall Limited or/and Bhanix Finance and Investment Limited (“Herein after referred as “Lending NBFC”, “Company”, “Lender” as applicable”)
Before using our Services, you are requested to please ensure that you carefully read and understand these User T & C which shall apply. Your use of our Services is expressly conditional on your acceptance of these User T & C.
Please read these User T & C carefully before using this Website and/or Application.
1. COMPANY INFORMATION
Aeries Financial Technologies Private Limited is the licensee of the CASHe technology and Website in the Indian territory and is responsible for maintaining the Website and providing for the technical support for the same. “Lending NBFC” ) is responsible for the Loan and other facilities provided through the Website. The terms "CASHe" "Company," "we," "our," and "its" when referring to these entities are used only for convenience and are not intended to be an accurate description of ownership, operation or corporate/legal relationships. You acknowledge that Lending NBFC and not Aeries would be responsible for the contents displayed on the Website, loan and other facilities offered and for any breach of these User T & C. Lending NBFC reserves the right in its sole discretion to remove any content or data, information or material (“User Content”) from the Website from time to time.
This page sets forth the User T & C under which Lending NBFC provides information on this Website, as well as the User T & C governing your use of this Website and Services.
Aeries Financial Technologies Private Limited is a company registered under the Companies Act, 2013 and having its registered office address at 5th Floor, Paville House, Off Veer Savarkar Marg, Prabhadevi, Mumbai, Maharashtra- 400 025. The company registration number is 270608. One Capitall is a company registered under the Companies Act, 1956 and having its registered office address at Patel House, Ground Floor, Plot No.48, Gazdar Bandh, North Avenue Road, Santacruz (West), Mumbai, Maharashtra- 400 054.The company registration number is 181072. Bhanix Finance and Investment Limited is a Company registered under the Companies Act, 1956 and having its registered office address at 312, Shail, Near Swagat Resturant, Off C.G.Road, Ahmedabad-380009, The Company registration number is 29073
a. The content of the pages of this Website is for your general information and use only. It is subject to change without notice. Unauthorised use of this Website may give rise to a claim for damages and/ or be a criminal offence.
b. The service statements on this Website are for general description purposes only. The information contained in this Website should not be viewed as an offer to sell or as a solicitation to purchase any of our Services. Furthermore, not all Services are available in every state or country.
c. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this Website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.
d. The Website may contain links to other third party sites. Such sites will contain their own separate terms and conditions. Your access to and use of these interactive sites will require acceptance of these separate terms and conditions.
e. You agree to use the Website only for lawful purposes. You agree not to take any action that might compromise the security of the Website, render the Website inaccessible to others or otherwise cause damage to the Website or the content therein. You agree not to add to, subtract from, or otherwise modify the content, or to attempt to access any content that is not intended for you. You agree not to use the Website in any manner that might interfere with the rights of third parties.
g. We make no warranties or representations about this Website or any of its content. CASHe is not responsible to you or anyone else for any damages of any kind, including (but not limited to) any direct or consequential loss and losses resulting from security failure, disclosure of confidential information by other parties or the transmission of a computer virus, suffered in connection with the use of this Website. Your use of any information or materials on this Website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this Website meet your specific requirements.
h. All materials herein and all Company software are proprietary to Company and protected by worldwide copyright and other intellectual property laws. Except as stated herein, none of the materials may be modified, copied, reproduced, distributed, republished, downloaded, displayed, sold, compiled, posted or transmitted in any form or by any means, including but not limited to, electronic, mechanical, photocopying, recording or other means, without the prior express written permission of the Company.
i. Unauthorised use of this Website may give rise to a claim for damages and/or be a criminal offence.
j. Any violation of these User T & C may result in legal liability upon you. Nothing in these User T & C should be construed to confer any rights to any third party or any other person. Your use of the Website means you are consenting to this User T & C and agree to be legally bound by it.
k. You acknowledge and agree that nothing in these User T & C shall have the effect of transferring the ownership of any copyrights, trademarks, service marks, trade names or other proprietary rights in the Website or Application or any other Material or any part thereof to you or any third party.
3. PROHIBITED USE
As a condition of your use of the Website, you will not use the Website for any purpose that is unlawful or prohibited by these User T & C or by any domestic or international laws, statues, ordinances and regulations. Your use of Website is your responsibility.
You shall not, display, upload, modify, publish, transmit, update or share any information on the Website, that –
Belongs to another person and to which you do not have any right;
Is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, libelous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner;
Involves the transmission of "junk mail", "chain letters", or unsolicited mass mailing or "spamming" or unsolicited commercial advertisement;
Harm minors in any way;
Infringes any patent, trademark, copyright or other proprietary rights;
Violates any law for the time being in force;
Deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
Impersonate another person;
Contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource.
Aeries Financial Technologies Private Limited is the licensee of the CASHe technology and Website in the Indian territory and is responsible for maintaining the Website and providing for the technical support for the same. Lending NBFC is responsible for the Loan and other facilities provided through the Website. The terms "CASHe" "Company," "we," "our," and "its" when referring to these entities are used only for convenience and are not intended to be an accurate description of ownership, operation or corporate/legal relationships.
You acknowledge that TSLC, Singapore is the owner and Aeries is the exclusive licensee of the in the Indian territory, of the Website and CASHe technology including, without limitation, all applicable patents, trademarks, copyrights (including, but not limited to, selections, collections, compilations, and arrangements), and other intellectual property rights thereto.
You are permitted to access the Website in accordance with these User T & C:
No part of the contents of this Website and may be modified, transmitted, or otherwise used without our express permission except as provided herein.
Unless specifically requested, CASHe does not solicit nor does it wish to receive any confidential, secret or proprietary information or other material from you. By submitting or sending information or other material to us you represent and warrant that the information is original to you and that no other party has any rights to the material. By submitting or sending information or other material to us you grant us the royalty-free, unrestricted, worldwide, perpetual, irrevocable, non-exclusive and fully sub-licensable right and license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such material (in whole or part) worldwide and/or to incorporate it in other works in any form, media, or technology now known or later developed. You also warrant that any "moral rights" in posted materials have been waived. You agree and acknowledge that by using this Website, any and all communications and/or information transmitted by you to or through the Website will not be treated as confidential or proprietary. You agree to defend, indemnify and hold Company, Lending NBFC and each of its directors, officers, employees, agents and affiliates harmless from any and all claims, liabilities, costs and expenses, including reasonable attorneys' fees, arising in any way from your use of the Website or the placement or transmission of any message, content, information, software or other materials through the Website by you.
References on the Website to services and products or supplied information or data provided by CASHe are on an "as is" and "as available" basis, without warranty of any kind, either express or implied. Without limitation of the foregoing, We specifically disclaim any and all warranties, including, but not limited to: (i) any warranties concerning the availability, accuracy, appropriateness, reliability, timeliness, or usefulness of the content of the Website; and (ii) any warranties of title, warranty of non-infringement, warranties of merchantability or fitness for a particular purpose, or warranties arising from a course of dealing, usage or trade practice. This disclaimer of liability applies to any damages or injuries occurring as a result of: (i) any error, omission, deletion, or defect in the content, or (ii) any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction of record, unauthorized access to, alteration of, or use of record, whether for breach of contract, tort, negligence, defamation, or any other cause of action. We do not warrant or guarantee: (i) that any portion of the Website will be free of infection by viruses, worms, trojan horses, or anything else manifesting contaminating or destructive properties; or (ii) that access to the Website will be uninterrupted or error-free.
Under no circumstances, including, but not limited to, negligence, shall We be liable to any party for: (i) any direct, indirect, special, punitive, incidental, exemplary, consequential (including, but not limited to, damages for business interruption, loss of business profits, loss of programs, or loss of information), or any other damages arising in any way out of the availability, use, reliance on, or inability to use the materials in this Website, even if Aeries or a CASHe authorized representative has been advised of the possibility of such damages; or (ii) any claim attributable to errors, omissions, or other inaccuracies in, or destructive properties of the Website. In no event shall our total liability to you herein, for any claim or action arising from use of the Website (whether in contract, tort, or otherwise) exceed the amount paid by you, if any, for accessing this Website. Because some states or jurisdictions do not allow the exclusion or the limitation of liability for consequential or incidental damages, in such states or jurisdictions, our liability shall be limited to the fullest extent permitted by law.
“CASHe” and the “CASHe” logo/word mark are registered trademarks or applied for registration and/or service marks of TSLC Singapore or Aeries group companies or affiliates and is licensed to Company for exclusive use in Indian Territory. Nothing contained in the Website should be construed as granting, by implication or otherwise, any license or right to use these marks without express written permission of Company.
Other names, company names, brand names, registered and unregistered trademarks or service marks and logos (the “Marks") are the property of their respective holders. Nothing contained in the Website should be construed as granting, by implication or otherwise, any license or right to use the Marks without express written permission of the owner or rights holder with respect to such use.
6. USER REGISTRATION
You may use the Website without registration however, to participate in certain activities of the Website you may be requested to create an account or you can login any other third party service account permitted by the Website. In the event you wish to create an account with us you may do so by completing the registration process. You agree to a) provide true, accurate, correct and complete information as prompted by the applicable registration form b) maintain and update true, accurate, correct and complete information provided by you during the registration process. You may be required to choose a password and user name. You are solely responsible for maintaining the confidentiality of your password and account.
If at any time Company believes that your account and password is being misused in any manner, or that the information provided by you during the registration process is not true, inaccurate or incomplete the Company reserves the right to cancel your account and block your access to Website.
You are entirely responsible for any and all activities that occur under your account. You agree to notify the Company of any unauthorized use of your account or any breach of security. Company will not be liable for any loss that you may incur as a result of someone else using your password or account or your failure to comply with this section.
7. LINKED SITES
Linked sites are not under the control of Aeries, Company and Aeries, Company is not responsible for the contents of any linked site or any link contained in a linked site. CASHe provides links to you only as a convenience, and the inclusion of any link does not imply endorsement by Aeries, Company of the Website has no control over such third party Website or any offsite dealings with such third parties is at your own risk
8. USE OF GOOGLE ANALYTICS & GPS
The Website uses Google Analytics, a web and mobile analytics service provided by Google, Inc. ("Google"). Google Analytics uses "cookies", which are text files placed on your device, to help analyze how users use the Website application. The information generated by the cookie about your use of the Website (including your IP address) will be transmitted to and stored by Google on servers in the United States or India or Cloud. Google will use this information for the purpose of evaluating your use of the Website, compiling reports on Website activity for operators and providing other services relating to Website activity and Internet usage. Google may also transfer this information to third parties where required to do so by law, or where such third parties process the information on Google’s behalf. By using this Website, you consent to the processing of data about you by Google in the manner and for the purposes set out above.
9. ADVERTISING MATERIAL
Some part of the Website may contain advertising information or promotion material or other material submitted to CASHe by third parties. Responsibility for ensuring that the material submitted for inclusion on Website complies with applicable law is exclusively on the party providing the information/material. Your correspondence or business dealings with, or participation in promotions of advertisers or including payment and delivery of related goods or services, and any other terms, conditions, warranties or representations associated with such dealings, are solely between You and such advertiser. Company will not be responsible or liable for any claim, error, omission, inaccuracy in advertising material or any loss or damage of any sort incurred as the result of any such dealings or as the result of the presence of such advertisers on the Site. Company reserves the right to omit, suspend or change the position of any advertising material submitted for insertion.
10. TYPOGRAPHICAL OR OTHER ERRORS
While CASHe takes reasonable care and skill to provide information which is accurate and up to date when first included on the Website, typographical and other errors may nevertheless occur. We do not undertake to update or correct such information and reserve the right to modify, delete and rearrange any or all of the contents of this Website at any time without notice to you. While we make reasonable efforts to prevent unauthorized tampering with the Website, we do not guarantee that our efforts will always be successful. Therefore, as set out below, we do not warranty that the Website materials will be error-free, and disclaims any liability for such errors.
11. DATA PRIVACY
12. CONSENT TO ELECTRONIC COMMUNICATIONS AND TRANSACTIONS
By clicking the ‘I Agree’ button, you consent to conduct transactions and receive communications, notices and information from us electronically, whether sent by e-mail or other electronic means. Electronic communications shall be deemed to have been received by you when we send the electronic communication to the email address / mobile number that as per our records, or when we post the electronic communication on the Website.
13. APPLICABLE LAW
These User T & C shall be a legally binding agreement between User and us and shall be governed by and interpreted and construed in accordance with the laws of India. Notwithstanding the foregoing, we reserve the right to pursue any action or claim against you in any court of competent jurisdiction which we believe is the most appropriate to seek any relief. Subject to the arbitration provision herein, the courts at Mumbai, India shall have exclusive jurisdiction over any claims or matters arising out of these User T & C.
14. DISCLAIMER OF WARRANTIES
WE MAKE NO REPRESENTATION AS TO THE ACCURACY, TIMELINESS, OR COMPLETENESS OF THE WEBSITE MATERIALS. WE PERIODICALLY AMEND, CHANGE, ADD, DELETE, UPDATE OR ALTER THE INFORMATION, INCLUDING, WITHOUT LIMITATION, THE USER T & C, AT THE WEBSITE WITHOUT NOTICE. FURTHER, WE ASSUME NO LIABILITY OR RESPONSIBILITY FOR ANY ERRORS OR OMISSIONS IN THE CONTENT OF THE WEBSITE. WE SPECIFICALLY DISCLAIM ANY DUTY TO UPDATE THE INFORMATION ON THE WEBSITE. YOU ARE RESPONSIBLE FOR VERIFYING ALL INFORMATION LOCATED ON THIS WEBSITE.
ALL MATERIALS, INFORMATION, SOFTWARE, PRODUCTS, AND SERVICES INCLUDED IN OR AVAILABLE THROUGH THIS WEBSITE (THE "CONTENT") ARE PROVIDED "AS IS" AND "AS AVAILABLE" FOR YOUR USE. THE CONTENT IS PROVIDED "AS IS" AND WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AND TITLE.
15. ENTIRE AGREEMENT
We reserve the right to modify them at any time, and without actual notice to you. All such changes to these User T & C will appear on the Website.
By using this Website following any modifications to these User T & C, you agree to be bound by any such modifications to these User T & C. If any changes to these User T & C are unacceptable to you, you must discontinue use of the Website. We reserve the right to suspend or deny, in our sole discretion, your access to all or any portion of the Website, including for any violation of any provision of these User T & C. We also reserve the right to change the Website without notice to you, at any time.
17. LIMITATION OF LIABILITY
Use of the CASHe Website is at your sole risk. While we make reasonable efforts to ensure the safety and functionality of our Website, these efforts may fail and errors may occur. IN NO EVENT SHALL COMPANY OR ANY OTHER PARTY INVOLVED IN THE CREATION, PRODUCTION, OR DELIVERY OF THE CONTENT OF THIS WEBSITE BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES OF ANY KIND, OR ANY DAMAGES WHATSOEVER RESULTING FROM LOSS OF USE, COMPUTER VIRUS OR SYSTEM FAILURE, OR LOSS OF DATA OR PROFITS, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THIS WEBSITE (OR THE CONTENT PROVIDED AT THIS WEBSITE ON ANY APPLICATION RELATED TO ANY THIRD PARTY), OR USERS' INABILITY TO USE THE CONTENT CONTAINED IN THIS WEBSITE (OR ANY OTHER APPLICATION), ON ANY THEORY OF LIABILITY. WE WILL NOT BE LIABLE OR RESPONSIBLE FOR ANY LOSS OR DAMAGE CAUSED BY OR ARISING FROM YOUR RELIANCE ON THE CONTENT OF THIS WEBSITE. THESE WAIVERS APPLY EVEN IF COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL OUR LIABILITY TO YOU FOR ANY DAMAGES, LOSSES, OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE OR OTHERWISE) EXCEED THE AMOUNT, IF ANY, PAID BY YOU TO US FOR ACCESSING THIS APPLICATION.
THE FOREGOING LIMITATIONS WILL APPLY EVEN IF ANY REMEDY PROVIDED UNDER THESE USER T & C FAILS OF ITS ESSENTIAL PURPOSE.
You agree to defend, indemnify, and hold harmless Company and Lending NBFC and their affiliates, parents, subsidiaries, and their respective employees, agents, contractors, officers, directors, successors and assigns from all liabilities, claims, damages and expenses, including without limitation attorneys' fees and costs, that arise from your use or misuse of this Website, without limitation, any actual or threatened suit, demand, or claim made against Company arising out of or relating to the User Content, your conduct, your violation of these User T & C, or your violation of the rights of any third party.
We shall have the right immediately to terminate this agreement with you and your use of the Website if we determine in our sole discretion that you have breached any of these User T & C or otherwise been engaged in conduct which we determine in our sole discretion to be unacceptable. Upon termination or expiration of these User T & C, your obligations and our rights and disclaimers survives, but your right to use the Website immediately ceases. Any express waiver or failure to exercise promptly any right under these User T & C will not create a continuing waiver or any expectation of non-enforcement.
20. GENERAL TERMS
a. Force Majeure: In no event shall Company/CASHe be liable for any acts beyond its control or for any acts of god.
b. Modification of Services: We reserve the right to modify or discontinue (completely or in part) our Website, Services, or any content appearing therein. We will not be liable to you or any third party if we exercise this right.
c. No Waiver: Our failure to exercise or enforce any right or provision of these User T&C will not be deemed to be a waiver of such right or provision.
d. No Third-Party Beneficiaries or Rights: These User T&C do not create any private right of action on the part of any third party or any reasonable expectation that the Website or Services will not contain any content that is prohibited by these User T&C.
e. Complaints: In the event you have any complaint(s) pertaining to Services provided through this Website, please feel free to email us at firstname.lastname@example.org and kindly provide your name, email address, physical address and contact numbers so that we may be in a position to verify details or check the authenticity of the complaints.
f. Assignment: You may not assign or otherwise transfer your rights or obligations under these User T&C. We may assign our rights and duties under these User T&C without any such assignment being considered a change to these User T&C and without any notice to you.
g. Notices: Any notices or other communications that you wish to send to us may be addressed to the registered office email@example.com
h. Dispute Resolution: Any Dispute relating in any way to your visit to Website or to Services through Website shall be submitted to arbitration in Mumbai, India, except that, to the extent you have in any manner violated or threatened to violate this Website’s intellectual property rights, We may seek injunctive or other appropriate relief in any court in India or internationally, and you consent to exclusive jurisdiction and venue in such courts.
i. The Arbitration under this agreement shall be in accordance with the provisions of the Indian Arbitration and Conciliation Act, 1996. The Award shall be binding and may be entered as a judgment in any court of competent jurisdiction. To the fullest extent permitted by applicable law, no arbitration under this agreement shall be joined to an arbitration involving any other party subject to this agreement, whether through class arbitration proceedings or otherwise.
j. We reserve the right to make changes to our Website, policies, and these User T & C at any time. If any of these conditions shall be deemed invalid, void, or for any reason unenforceable, that condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition.
k. Feedback: We welcome feedback, comments and suggestions for improvements to the Services ("Feedback"). You can submit Feedback by emailing us at firstname.lastname@example.org.
l. Contact Information: If you have any questions or suggestions regarding our User Terms and Conditions, please contact us at email@example.com
NOTICE:Grant of Social Loan is expressly conditioned on Borrower's assent to these Terms and Conditions (“T&C”). Any acceptance of Lender's loan facility is expressly limited to these T&C. No document uploaded or document solely signed by Borrower shall modify these T&C. The Lender may amend the T&C after prior notiﬁcation to the Borrower and such amended T&C will thereupon apply to the Borrower.
If the visitor to the CASHe is a minor i.e. under the age of 18 years, he/she shall not register as a member of CASHe and shall not transact or use CASHe. As a minor, if a visitor wishes to use or transact on CASHe, such use or transaction may be made only by their parents/ legal guardian who have registered and have an online account with CASHe in their name. All monetary transactions shall be made by the parents/ legal guardians themselves. The parents/ legal guardians shall be ﬁnancially responsible for access of the mobile application and for repayments of Loan availed by their children below 18 years of age. Lender reserves the right to terminate any membership in the event of breach of any of the T&C as are set out herein.
This document is an electronic record in terms of the Information Technology Act, 2000 and Rules there under, as applicable and the provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000 from time to time. This electronic record is generated by a computer system and does not require any physical or digital signatures.
By clicking on the ACCEPT button at the bottom of this page, you irrevocably and unconditionally accept the T&C for grant of Social Loan and these T&C will become a legally binding contract between the Lender and Yourself as the Borrower.
“Amounts Due” shall mean the principal Loan Amount together with Interest and Delayed Interest and other amounts due and payable by Borrower to Lender in terms of these T&C;“Applicable Law” shall mean any Indian statute, law, acts of the state legislature or Indian Parliament, regulation, ordinance, rule, judgment, order, decree, bye-laws, clearances, directives, guidelines, policy requirement, or any governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration having the force of law in India of any of the foregoing, by any government authority having jurisdiction over the matter in question, whether in effect as of the date of this Contract or thereafter, and includes any laws, notification, circulars, ordinances, byelaws, rules whatsoever.
“Borrower” shall mean any individual who avails a Loan through the CASHe Website and shall include an individual who has opened a Registered Account with CASHe.“Business Day” means the days on which the Lender is open for business in Mumbai during normal business hours.
“Default”means non-payment of Loan Amount and/or any amount due to Vender.
“Due Date” means in respect of any amount payable under any Loan, the date on which such amounts falls due in terms of the contract; and if such date falls on a day which is not a Business Day, on the immediately preceding Business Day.“Loan” or “Loan Amount” shall mean the facility availed by the Borrower and sanctioned by the Lender, from time to time.
“T&C” shall mean these Terms and Conditions.
“Term” shall mean the term of the Loan which is 15 (Fifteen), 30 (Thirty), 90 (Ninety) and 180 (One Hundred Eighty) days or as may be communicated to borrower from the Date of Disbursement and /or may be suffixed to CASHe e.g. CASHe 15, (for 15 days ) CASHe 30 (for 30 days ) CASHe 90 (for 90 days) CASHe 180 (for 180 days) and CASHe 1 year (for 360 days).The final decision on Terms and Loan amount will be of Lender.
“Persons” shall mean an individual, and shall include legal representatives, administrators, executors, heirs, their respective successors and permitted assigns.
“Registered Account” or “Account” shall mean the account of the Borrower registered with CASHe.
“Social Loan Quotient” or “SLQ” shall have the meaning ascribed to it in clause 2.5 of these T&C.“Website” shall mean and include the CASHe Mobile Application, the internet resource www.cashe.co.in, and any other media platform through which the CASHe application, software and platform is run. The terms “Website” and “CASHe” are used interchangeably in these T&C.
2. Registered Account and Social Loan Quotient
Borrower have opted for a facility of direct credit of all or part of the Loan Amount to Borrower’s Paytm Wallet Account. In view of Borrower opting for this facility, Borrower acknowledge that Borrower is solely responsible for providing Borrower’s accurate and correct mobile number to enable us to credit the specified portion of the Loan Amount into Borrower’s Paytm Wallet Account, and that any loss or wrongful credit to a third party Paytm Wallet that may arise due to incorrect details being provided to us or inappropriate use of the mobile number that is provided will be solely to Borrower‘s account. Borrower confirm that the credit of the specified portion of the Loan Amount to the specified Paytm Wallet Account would constitute receipt of the specified portion of the Loan Amount by Borrower.Borrower shall not be permitted to seek disbursement in third party account.
Borrower agree to indemnify and hold Lender harmless from any damages, claims demands, proceedings, losses, costs, charges and expenses whatsoever which may be incurred, sustained, suffered or be put to as a consequence of or arising out of (i) Borrower using a mobile other than Borrower’s own or Borrower providing an incorrect mobile number and/or providing a number that belongs to that of any other person; (ii) any misuse, improper or fraudulent information provided by Borrower; and (iii) the loss, theft or misuse of the mobile number provided by Borrower.
4. Procedure for Drawdown and Disbursement
5. Suspension or Cancellation by Lender
Processing Fees, Commission and Other Payments:
The Borrower shall be liable to pay the Lender a First-time processing fee plus GST, for each category of loan e.g. 15, 30, 90, 180 and one year (360) days loan period, as per slabs given below (“Processing Fee”). Lender reserves the right to change the amount of Processing Fee at any time.
|CASHe 15/30 days||
|CASHe 90 days||19000 to 100000||2% of Loan Amount|
|CASHe 180 days||
|CASHe One year||
|CASHe 15/30 days||
|CASHe 90 days||
|CASHe 180 days||
|Product||CASHe Gold||CASHe Platinum||CASHe Diamond|
7. Repayment and Pre-Payment
(a) Net Banking Payment to the Bank Account of Lender: as will be communicated by SMS and/or email registered with loan application.
(b) Cash or Cheque to be deposited into the Lender's Bank Account, in exceptional cases, when Borrowers Bank is unable to execute Net Banking Transaction.
(c) UPI payment through VPA account registered with CASHe app.
8. Eligibility, Commission and other Payments
9. Representations and Warranties
10. Borrower Covenants
11. Event of Default and Consequences of Event of default
12. Term and Termination
15. Transfer and Assignment
16. Disclosure of Information
17. Governing Law, Jurisdiction and Arbitration
BORROWER CONFIRMATION AND ACCEPTANCE
Use of CASHe/CASHe Website is available only to persons who can form legally binding contracts under Indian Contract Act, 1872. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. are not eligible to use the CASHe Website.
I HEREBY CONFIRM THAT I AM 18 YEARS OF AGE OR ABOVE AND HAVE THE LEGAL CAPACITY TO ACCEPT THE CASHe PRODUCT TERMS AND CONDITIONS AND POLICIES.
I HEREBY CONFIRM THAT I AM DULY REGISTERED WITH THE CASHe WEBSITE AND ALL INFORMATION PROVIDED BY ME IN RESPECT OF ACCOUNT REGISTRATION AND AVAILING THE LOAN THROUGH CASHe IS TRUE AND ACCURATE TO THE BEST OF MY KNOWLEDGE AND BELIEF.
I CONFIRM THAT I HAVE FULLY UNDERSTOOD THESE TERMS AND CONDITIONS. THE LENDER IS ENTITLED TO USE THE SAID INFORMATION AS WELL AS INFORMATION FROM ANY SOCIAL, MOBILE NETWORK AND ALSO ENTITLED TO ASSIGN, TRANSFER THE LOAN (IN FULL OR PART) ALONGWITH INTEREST TO ANY OTHER COMPANY, APPROVED BY RBI.
COMMENTS TO LOAN AND RISK POLICY
Clause of L&R Policy
The Loan & Risk Management Policy
One Capitall Limited or/and Bhanix Finance and Investment Limited (“Herein after referred as “Lending NBFC”, “Company”, “Lender” as applicable”) has adopted a Loan and Risk Management Policy in accordance with the guidelines issued by the Reserve Bank of India, provisions of the Companies Act 2013, Memorandum & Articles of Association and Guidelines issued under any statutory acts, rules & regulations
When a Loan is extended to the Borrower ("Loan Amount"), the major concern is securing the principal amount lent. The prospective borrower is subjected to be scrutinized for his/her creditworthiness by means of background checking, his/her repayment culture through CIBIL and the past dealings.
Loan & Risk Management Committee
Loan & Risk Management Committee ("Committee")
The amount which the Committee can lend should not exceed INR 200000 in aggregate for a single Borrower.
Period/Tenure of Loans
Period/Tenure of Loans
1. The Loans to be offered by the Company are for a period not exceeding 15 days. Various of Loan Products offering by the Company are viz. CASHe 15, CASHe 30, CASHe 90 and CASHe 180 and the Loans that are offering by the Company are not exceeding 180 days.
2. Foreclosure of Loan account: The borrower shall be entitled to foreclose the Loan account.
3. Prepayment of Loan amount: The borrower shall be entitled to prepay any amount exceeding his periodic repayment installment.
4. The Loan shall be sanctioned to a single borrower in a single tranche only. However, the total exposure should not exceed the limits specified in the policy unless approved by the Committee.
Rate of Interest
The Rate of Interest shall be 1.5%(36.50% p.a.), 3%(36.50% p.a.), 7.50%(30.42% p.a.) and 12%(24.33 p.a.) of the Loan amount for the tenure of 15 days, 30 days, 90 days and 180 days respectively and delayed interest shall be 2% per week (104% p.a.), on cumulative basis, past the Due Date. If the rate of interest to be charged exceeds the maximum permissible limit as per the Reserve Bank of India’s guidelines from time to time, the approval of the Committee will be obtained.
The Processing fee and applicable interest rate charges for loan tenures from 15 to 90 days will be deducted at source. For 180 days loan, the applicable interest charges (6%) will be collected at source for the first three EMIs. The balance interest charges (6%) will be levied across the tenure of the loan paying months (6 months).
▪ These Interest deducted at source from the principal sanctioned Loan amount, therefore effective rate of interest on the net disbursed amount will vary from 0.55% to 1.56% (without deduction of processing fees).
For more details, you can read terms and conditions of Loan published in our website i.e. www.cashe.co.in
The Borrower shall be liable to pay the Lender a First-time processing fee plus GST, for each category of loan e.g. 15, 30,90 and 180 days loan period, as per slabs given below (“Processing Fee”). Lender reserves the right to change the amount of Processing Fee at any time.
For repeat of Loan, the processing fee across all CASHe Products as under-
Custody of the Loan Documents
All documents related to the Loan accounts offered by the Borrower shall be kept in the safe custody of the Company
LOAN & RISK MANAGEMENT POLICY
Lending NBFC has adopted a Loan and Risk Management Policy in accordance with the guidelines issued by Reserve Bank of India, provisions of the Companies Act 2013, Memorandum & Articles of Association and guidelines issued under any statutory Acts, Rules & Regulations. The Policy is in strict adherence to the Prudential Norms applicable under IRAC norms prescribed to the NBFCs.
This Policy is applicable to the present loans given and future loans which the Company may lend subject to the adoption of this policy and amendments from time to time.
Objective of the Policy:
While formulating this Policy all the principles of lending are taken in to consideration. Lending activities exposes the Company to following Risks:
While formulating the Loan Policy the utmost care is taken to minimize the above Risks. The following measures are put in place to hedge the Risks.
Loan & Risk Management Committee (“Committee”):
The Company has formed a Committee authorized to take decisions on the Loan Proposals received, set the Terms and Conditions for each type of Loan sanctioned, monitor and control/manage the Risks arising out of Financial Exposure in the Market. The committee consists of:
The amount which the Committee can lend should not exceed the following limits.
|1.||Cap on the amount of lending to single entity||Rs.1000.00 Lakhs|
|2.||Cap on the amount of lending to a Group of Companies||Rs2000.00 Lakhs|
|3.||Companies||10% of the NOF|
|4.||Inter Corporate Deposits||Rs. 500.00 Lakhs|
Period/Tenure of Loans:
Right to Recall:
The Company reserves the right to recall the Loans either in part or in full, during the tenure of the Loan giving prior notice to the borrower and providing adequate time to the Borrower to liquidate the same.
Rate of Interest:
The rate of interest should not be less than 2% (Two percent) above the Lending NBFC PLR per annum. If the rate of interest to be charged exceeds the maximum permissible limit as per the Reserve Bank of India’s guidelines from time to time, the approval of the Board will be obtained. For CASHe borrowers maximum rate of interest shall be 36.5% per annum at the time of disbursement of the Loan amount and delayed interest shall be 104 % per annum past the Due Date. If the rate of interest to be charged exceeds the maximum permissible limit as per the Reserve Bank of India’s guidelines from time to time, the approval of the OCM will be obtained.
Restructuring of Loan:
The Company may restructure the loan by modifying/altering/varying the terms and conditions of the loans disbursed. The restructuring may be for the loan amount, rate of interest, tenure, etc. in accordance with the loan policy.
Custody of the Loan and Security Documents:
All documents related to the loan accounts including security documents, if any, offered by the borrower shall be kept in the safe custody of the Company. The security documents, if any, is to be returned to the borrower on recovery of the full amount of loan, interest and other charges.
The Company should maintain the register of all the loans made and same to be produced to the auditors for the verification at the time of audit and to the RBI officials at the time of inspection.
The loan Committee shall be authorized to appoint Brokers / Agents to act as introductory person / intermediary.
The staff loans as per the policy of Personnel Department are not covered under this policy.
Any question or doubt as to the meaning or interpretation of any provision of this policy shall be referred to the Loan & Risk Management Committee of the Company. The decision of the majority of the members of the committee, on any such doubt shall be final and binding.
The Reserve Bank of India (RBI) has issued comprehensive ‘Know Your Customer’ (KYC) Guidelines to all Non-Banking Financial Companies (NBFCs) in the context of the recommendations made by the Financial Action Task Force (FATF) and Anti Money Laundering (AML) standards and Combating Financing of Terrorism (CFT) policies. In view of the same, One Capitall Limited or/and Bhanix Finance and Investment Limited (“Herein after referred as “Lending NBFC”, “Company”, “Lender” as applicable”) has adopted the said KYC guidelines with suitable modifications depending on the activity undertaken by it. The Company has ensured that a proper policy framework on KYC and AML measures are formulated in line with the prescribed RBI guidelines and duly approved by its Loan & Risk Committee (“Committee”).
OBJECTIVES, SCOPE AND APPLICATION OF THE POLICY:
The objective of KYC guidelines is to prevent the Company from being used, intentionally or unintentionally, by criminal elements for money laundering activities or terrorist financing activities. KYC procedures shall also enable the Company to know and understand its Customers and its financial dealings better which in turn will help it to manage its risks prudently. Thus, the KYC policy has been framed by the Company for the following purposes:
1. To prevent criminal elements from using Company for money laundering activities;
2. To enable Company to know and understand its Customers and their financial dealings better which, in turn, would help the Company to manage risks prudently;
3. To put in place appropriate controls for detection and reporting of suspicious activities in accordance with applicable laws/laid down procedures;
4. To comply with applicable laws and regulatory guidelines;
5. To ensure that the concerned staff are adequately trained in KYC/AML/CFT procedures. This KYC Policy is applicable to all branches/offices of Lending NBFC and is to be read in conjunction with related operational guidelines issued from time to time. This Policy includes nine (9) key elements:
a) Customer Acceptance Policy (CAP);
b) Customer Identification Procedures (CIP);
c) Monitoring of Transactions;
d) Risk Management;
e) Training Programme;
f) Internal Control Systems;
g) Record Keeping;
h) Appointment of Principal Officer;
i) Reporting to FIU – India.
DEFINITION OF CUSTOMER:
For the purpose of Lending NBFC’s KYC policy a ‘Customer’ means a Person as defined under Know Your Customer Guidelines issued by RBI (and any amendment from time to time by RBI) which are at present as under:-
a) A Person who has a Registered Account with Lending NBFC and has a financial transaction or activity with Lending NBFC; or
b) A Person on whose behalf the Registered Account is maintained (i.e. the beneficial owner);
c) Any other Person connected with a financial transaction which can pose significant reputation or other risks to Lending NBFC, say a wire transfer or issue of high value demand draft as a single transaction.
A “Person” shall have the meaning as defined under KYC policy of RBI (and any amendment from time to time by RBI) which at present is as follows:
‘Person’ shall include:
(i) an Individual;
(ii) a Hindu Undivided Family;
(iii) a Company;
(iv) a Firm;
(v) an association of persons or a body of individuals, whether incorporated or not;
(vi) every artificial juridical person, not falling within any one of the above person (i to v);
(vii) any agency, office or branch owned or controlled by any one of the above persons (i to vi).
I. Customer Acceptance Policy (“CAP”):
1. Company’s CAP lays down the criteria for acceptance of Customers. The guidelines in respect of Customer relationship in Lending NBFC broadly includes the following:
a) No account is to be opened in anonymous or fictitious/benami name(s)/entity (ies);
b) Accept Customers only after verifying their identity, as laid down in Customer Identification Procedures. Necessary checks before opening a new account are to be ensured so that the identity of the Customer does not match with any person with known criminal background or with banned entities such as individual terrorists or terrorist organizations, etc;
c) Classify Customers into various risk categories and, based on risk perception, apply the acceptance criteria for each category of Customers. Also, a profile of each Customer will be prepared based on risk categorization.
d) Documentation requirements and other information to be collected in respect of different categories of Customers depending on perceived risk and compliances with Prevention of Money Laundering Act, 2002 (PML Act) and RBI/ Lending NBFC guidelines/instructions.
e) Not to open an account or close an existing account (except as provided in this Policy), where identity of the account holder cannot be verified and/or documents/information required could not be obtained/confirmed, as per the risk categorization, due to non-cooperation of the Customer or non-reliability of the data/ information furnished to Company. Suitable built – in safeguards shall be provided to avoid any harassment to Customers.
f) Implementation of CAP should not become too restrictive and result in denial of Lending NBFC services to general public.
g) Circumstances in which a Customer is permitted to act on behalf of another person/ entity shall be clearly spelt out in conformity with the established law and practice and shall be strictly followed so as to avoid occasions when an account is operated by a mandate holder or where an account may be opened by an intermediary in the fiduciary capacity.
2. The Company shall prepare a profile for each new Customer during the credit appraisal based on risk categorization as mentioned in this Policy. The Customer profile shall contain the information relating to the Customer’s identity, social status and nature of employment or business activity. The nature and extent of due diligence will depend on the risk perceived by Company. At the time of credit appraisal of the Customer the details are recorded along with his profile based on the documents provided by the Customer and verified by Company either by itself or through third party sources. The documents collected will be as per the product norms as may be in practice. However, while preparing Customer profile, the Company shall seek only such information from the Customer which is relevant to the risk category and is not intrusive. Any other information from the Customer should be sought separately with his/her consent and after opening the Registered Account.
The Customer profile will be a confidential document and details contained therein shall not be divulged for cross selling or for any other purposes.
3. As per KYC policy, for acceptance and identification, Company’s Customers shall be categorized based on perceived risk broadly into three categories – A, B & C. Category A includes High Risk Customers, Category B contain Medium Risk Customers while Category C Customers include Low Risk Customers. None of the Customers will be exempted from Company’s KYC procedure, irrespective of the status and relationship with Company or its Promoters. The above requirement may be moderated according to the risk perception.
4. (i) High Risk – (Category A):
High Risk Customers typically includes:
a) Non-Resident Customers;
b) Persons without an occupation track record of more than 3 years;
c) Trust, charitable organizations, Non-Government Organization (NGO), organizations receiving donations;
d) Companies having close family shareholding or beneficial ownership;
e) Firms with sleeping partners;
f) Politically exposed persons (PEPs) of Indian/ foreign origin;
g) Person with dubious reputation as per public information available;
h) Persons without any Contact Number and details;
i) Person with Criminal Background;
j) Person with CIBIL score less than 500;
k) Person already in debt and more than 30% of his salary is consumed in instalments/ debt repayment;
l) Person having very Low Social Loan Quotient (SLQ) i.e. SLQ Grade C
(ii) Medium Risk – (Category B):
Medium risk Customers will include:
a) Salaried applicant with variable income/ unstructured income receiving Salary in cheque;
b) Salaried applicant working with Private Limited Companies, Proprietary, Partnership firms;
c) Self-employed customers with sound business and profitable track record for a reasonable period;
d) Person with occupation track record between 3 & 5 years;
e) Person with temporary rental address, which keeps changing within 6 months;
f) Person with moderate SLQ i.e. SLQ Grade B.
g) Person with CIBIL score between 501-749;
h) Person with contact details less than one year old;
i) Person not providing employer contact details.
(iii) Low Risk-(Category C):
Low Risk individuals (other than high net worth) and entities whose identities and sources of wealth can be easily identified and all other person not covered under above two categories. Customer carrying low risk may include the following:
a) Salaried employees with well-defined salary structures for over 5 years;
b) People working with government owned companies, regulators and statutory bodies, MNC’s, rated companies etc;
c) Person is post-graduate and not falling within any of the criteria in (i) and (ii) above;
d) Persons having own accommodation as residential address for over 5 years;
e) Person with additional income source from spouse;
f) Person with CIBIL score exceeding 750;
g) Person with high SLQ i.e SLQ Grade A.
II. Customer Identification Procedures (“CIP”):
1. Customer Identification means identifying the Customer and verifying his/her identity by using reliable, independent source documents, data or information. Company shall obtain sufficient information necessary to verify the identity of each new Customer along with brief details of its promoters and management, wherever applicable, whether regular or occasional and the purpose of the intended nature of business relationship. The requirement as mentioned herein may be moderated according to the risk perception for e.g. in the case of a public listed company it may not be necessary to identify all the shareholders.
2. Besides risk perception, the nature of information/documents required would also depend on the type of Customer (individual, corporate etc). Company shall obtain sufficient identification data to verify the identity of the Customer, his address/location, his employment details and also his recent photograph. The Social Loan is not available to non-individuals and hence this KYC Policy does not refer to documentation and KYC Procedures for Customers that are legal persons or entities. As and when the Social Loan shall be accessible to non-individuals, applicable KYC Policy for the same shall be included herein in terms of the RBI guidelines. Customer identification requirements keeping in view the provisions applicable of Prevention of Money Laundering and its Rules and as per guidance note issued in this respect are indicated in Annexure I. An indicative list of the nature and type of documents/information that may be relied upon for Customer Identification is given in Annexure II. The Company will frame internal guidelines based on its experience of dealing with such persons/entities, normal prudence and the legal requirements.
3. The Company will formulate and implement a Customer Identification Programme to determine the true identity of its Customers keeping the above in view. The Policy shall also cover the Identification Procedure to be carried out at different stages, i.e. while establishing a relationship; carrying out a financial transaction or when there is a doubt about the authenticity/veracity or the adequacy of the previously obtained Customer Identification data.
Important: Lending NBFC shall periodically update Customer Identification Data after the transaction is entered. The periodicity of updating of Customer Identification data shall be once in five years in case of low risk category customers and once in two years in case of high and medium risk categories.
III. Monitoring of Transactions:
Ongoing monitoring is an essential element of effective KYC procedures. Monitoring of transactions and its extent will be conducted taking into consideration the risk profile and risk sensitivity of the account. Company shall make endeavours to understand the normal and reasonable activity of the Customer so that the transactions that fall outside the regular/pattern of activity can be identified. Company may prescribe threshold limits for a particular category of accounts and pay particular attention to the transactions which exceed these limits. Company shall set key indicators for accounts basis the background of the Customer, the type of transactions involved and other risk factors which shall determine the extent of monitoring. Company shall carry out periodic review of risk categorization of transactions/Customer’s accounts and the need for applying enhanced due diligence measures at a periodicity of not less than once in six months. Company shall explore the possibility of validating the new account opening applications with various watch lists available in public domain, including RBI watch list.
IV. Risk Management:
The Management of the Company under the supervision of the Committee shall ensure that an effective KYC programme is put in place by establishing appropriate procedures and ensuring their effective implementation. It will cover proper management oversight, systems and controls, segregation of duties, training and other related matters. Responsibility will be explicitly allocated within the Company for ensuring that the policies and procedures as applicable to Company are implemented effectively. The Company shall devise procedures for creating Risk Profiles of their existing and new Customers and apply various Anti Money Laundering measures keeping in view the risks involved in a transaction, account or business relationship.
V. Training Programme:
Company shall have an ongoing employee training programs so that the members of the staff are adequately trained in KYC/ AML/ CFT procedures. Training requirements shall have different focuses for front line staff, compliance staff and officer/ staff dealing with new Customers so that all those concerned fully understand the rationale behind the KYC Policies and implement them consistently.
VI. Internal Control System:
The Company’s Internal Audit and Compliance functions will evaluate and ensure adherence to the KYC Policies and procedures. As a general rule, the compliance function will provide an independent evaluation of the Company’s own policies and procedures, including legal and regulatory requirements. The Management of the Company under the supervision of the Committee shall ensure that the audit function is staffed adequately with skilled individuals. Internal Auditors will specifically check and verify the application of KYC procedures at the branches and comment on the lapses observed in this regard. The compliance in this regard shall be put up before the Committee along with their normal reporting frequency. Further, the Company shall have an adequate screening mechanism in place as an integral part of their recruitment/ hiring process of personnel so as to ensure that person of criminal nature/ background do not get an access, to misuse the financial channel.
VII. Record Keeping:
1. Maintenance of records of transactions: The Company shall maintain proper record of the transactions as required under Section 12 of the PML Act read with Rule 3 of the Prevention of Money Laundering Rules, 2005 (PML Rules) as mentioned below:
a) All cash transactions of the value of more than Rupees Ten Lakhs (Rs. 10,00,000/-) or its equivalent in foreign currency, though by policy the Company neither accept cash deposits nor in foreign currency.
b) All series of cash transactions integrally connected to each other which have been valued below Rupees Ten Lakhs (Rs. 10,00,000/-) or its equivalent in foreign currency where such series of transactions have taken place within a month.
c) All transactions involving receipts by non-profit organizations of Rupees ten lakhs or its equivalent in foreign currency.
d) All cash transactions, where forged or counterfeit currency notes or bank notes have been used as genuine and where any forgery of a valuable security has taken place; any such transactions.
e) All suspicious transactions whether or not made in cash and in manner as mentioned in the PML Rules framed by the Government of India under PML Act. An Illustrative List of suspicious transaction pertaining to financial services is given in Annexure III.
2. Records to contain the specified information
The Records referred to above in Rule 3 of PML Rules to contain the following information:
a) the nature of the transactions;
b) the amount of the transaction and the currency in which it was denominated;
c) the date on which the transaction was conducted;
d) the parties to the transaction.
3. Maintenance and preservation of records Section 12 of PML Act requires the Company to maintain records as under:
a) records of all transactions referred to in clause (a) of sub-section (1) of Section 12 read with Rule 3 of the PML Rules is required to be maintained for a period of Ten (10) years from the date of transactions between the customers and One Capitall Limited or/and Bhanix Finance and Investment Limited.
b) records of the identity of all Customers of Company are required to be maintained for a period of Ten (10) years from the date of cessation of transactions between the Customers and Company .
c) Company shall take appropriate steps to evolve a system for proper maintenance and preservation of information in a manner (in hard and/or soft copies) that allows data to be retrieved easily and quickly whenever required or as/ when requested by the competent authorities.
VIII. Appointment of Principal Officer:
Company shall designate a senior employee as ‘Principal Officer’ (PO) who shall be located at the Head/Corporate office and shall be responsible for monitoring and reporting of all transactions and sharing of information as required under the law. PO shall maintain close liaison with enforcement agencies, NBFCs and any other institution which are involved in the fight against money laundering and combating financing of terrorism.
IX. Reporting to Financial Intelligence Unit – India:
The Principal Officer shall report information relating to cash and suspicious transactions, if detected, to the Director, Financial Intelligence Unit India (FIUIND) as advised in terms of the PMLA rules, in the prescribed formats as designed and circulated by RBI at the following address:
Director, FIU – IND,
Financial Intelligence Unit India,
6th Floor, Hotel Samrat,
Chanakyapuri, New Delhi110021
The employees of One Capitall Limited or/and Bhanix Finance and Investment Limited shall maintain strict confidentiality of the fact of furnishing/ reporting details of suspicious transactions.
I. Customer Education:
Company shall educate Customers on the objectives of the KYC programme so that Customer understands and appreciates the motive and purpose of collecting such information. The Company shall prepare specific literature/ pamphlets, terms and conditions etc. so as to educate the Customer about the objectives of the KYC programme. The front desk staff shall be specially trained to handle such situations while dealing with Customers.
II. Introduction of new technologies:
Company shall pay special attention to any money laundering threats that may arise from new or developing technologies including online transactions that may favor anonymity, and take measures, if needed, to prevent their use in money laundering. Company shall ensure that any remittance of funds by way of demand draft, mail/telegraphic transfer or any other mode for any amount is affected by cheques and not against cash payment.
III. Applicability to Branches and Subsidiaries outside India:
This Policy shall also be applicable to the branches and majority owned subsidiaries located abroad, especially, in countries which do not or insufficiently apply the FATF Recommendations, to the extent local laws permit as and when the Company opens overseas branches. When local applicable laws and regulations prohibit implementation of these guidelines, the same will be brought to the notice of RBI.
IV. Closure of Accounts/Termination of Financing/Business Relationship:
Where Company is unable to apply appropriate KYC measures due to non-furnishing of information and/or non-operation by the Customer, Company shall terminate Financing/Business Relationship after issuing due notice to the Customer explaining the reasons for taking such a decision. Such decision shall be taken with the approval of Chairman & Managing Director or key managerial persons authorized for the purpose.
V. KYC for the Existing Accounts:
While the KYC Policy will apply to all new Customers, the same would be applied to the existing Customers on the basis of materiality and risk. However, transactions with existing Customers would be continuously monitored for any unusual pattern in the operation of the accounts.
VI. Updation in KYC Policy of Company
PO shall, after taking the due approval from the Committee, make the necessary amendments/modifications in the KYC/ AML/ CFT Policy or such other related guidance notes of Company, to be in line with RBI or such other statutory authority’s requirements/updates/ amendments from time to time.
CUSTOMER IDENTIFICATION REQUIREMENTS (INDICATIVE GUIDELINES)
In case of non-face-to-face Customers i.e. all Customers of One Capitall Limited or/and Bhanix Finance and Investment Limited availing Social Loan, apart from applying the usual customer identification procedures, there must be specific and adequate procedures to mitigate the higher risk involved. Certification of all the documents presented should be insisted upon and, if necessary, additional documents may be called for. Company may also require the first payment to be effected through the Customer's account with the bank which, in turn, adheres to similar KYC standards. In such a case, if there is the additional difficulty of matching the Customer with the documentation then Company may have to rely on third party certification/introduction. In such cases, it must be ensured that the third party is a regulated and supervised entity and has adequate KYC systems in place.
Customer Identification Procedure Features to be verified and Documents that may be obtained from Customer:
Customer shall electronically upload following documents (self-attested) in jpg format:
1. Photo Identity Proof - PAN Card
2. Latest salary slip
3. Permanent Address Proof – Any 1 of:
i. Aadhar Card
iii. Driving License
iv. Utility Bills i.e. Electric/landline phone bill/Mahanagar Gas Bill (not more than 2 months old)
v. Voters Card
. If Current Address is different from Permanent Address, then additionally:
4. Utility Bill- Electric/landline phone bill/Mahanagar Gas Bill of current address (not more than 2 months old).
5. Photograph in jpg format.
6. Salary slip (if it contains the current office address of the Customer)
7. Latest statement of Bank Account mentioned by the customer
In case the Customer do not have any of the above mentioned documents for verification, then Customer can submit proof of address and identity of a close relative with whom the prospective Customer is living together with a declaration from such relative stating the prospective customer is a relative and is staying with him/her.
For the aforesaid purpose, a close relative includes husband, wife, son, daughter and parents etc. who live with their wife, husband, father/mother, daughter and son.
1. PAN Card shall be verified electronically from Income Tax Website so as to ascertain correctness of PAN Number and corresponding name from Income Tax web site. The said verification may be carried out by the Company itself or through an independent Agency.
2. Similarly AADHAR & Voters ID shall be verified through Independent Agency.
3. Utility Bills and Passport will be used to verify address
4. Customer will electronically upload his selfie.
5. Bank statement will be used to verify account No.
All Documents uploaded should be self-certified. Additional documents may be called for, if necessary.
First payment made by Customer should be effected through Customer’s account with a Bank with whom Customer has completed all KYC requirements.
SUPPLEMENTAL KNOW YOUR CUSTOMER (‘KYC’) POLICY FOR CASHE PRODUCT
1. The CASHe product is for salaried individuals only. Considering the nature and purpose of CASHe product, the risk categorization for the CASHe Product is modified as follows:
High Risk – Category A
Medium Risk – Category B
Low Risk – Category C
2. The customer identification procedure for CASHe product customers shall be as follows:
Customer shall electronically upload following documents (self-attested) in jpg format:
In case the Customer does not have any of the above mentioned valid documents for verification, then Customer can submit proof of address and identity of a close relative with whom the prospective Customer is living together with a written declaration from such relative stating the prospective customer is a relative and is staying with him / her.
For the aforesaid purpose, a close relative includes husband, wife, son, daughter and parents etc. who live with their wife, husband, father/mother, daughter and son.
All Documents uploaded should be self-certified. Additional documents may be called for, if necessary.
First payment made by Customer should be effected through Customer’s account with a Bank with whom Customer has completed all KYC requirements.
ILLUSTRATIVE LIST OF SUSPICIOUS TRANSACTION PERTAINING TO FINANCIAL SERVICES
Broad categories of reason for suspicion and examples of suspicious transactions for Non- Banking Financial Companies are indicated as under:
1. Identity of client:
a) False identification documents
b) Identification documents which could not be verified within reasonable time
c) Accounts opened with names very close to other established business entities.
2. Background of Client:
Suspicious background or links with known criminals
3. Multiple Accounts:
a) Unexplained transfers between multiple accounts with no rationale
4. Signatory with No Rationale:
a) Unexplained transfers between multiple accounts with no rationale.
5. Nature of Transactions:
a) Unusual or unjustified complexity.
b) No economic rationale or bona-fide purpose.
c) Nature of Transactions inconsistent with what would be expected from declared business.
6. Value of Transactions:
a) Value just under the reporting threshold amount in an apparent attempt to avoid reporting.
b) Value inconsistent with the client’s apparent financial standing.
7. Illustrative list of Suspicious Transactions:
a) Reluctant to part with information, data and documents;
b) Submission of false documents, purpose of loan and detail of accounts;
c) Maintaining multiple accounts without explanation;
d) Frequent request for change of address;
e) Suggesting dubious means for sanction of loan;
f) When transactions do not make economic sense;
g) Encashment of loan through fictitious bank account;
h) Request for payment in favour of third party with no relation to transaction.
Aeries Financial Technology Private Limited (“us”, “we”, or “AFT” or “Company”) is the exclusive licensee in Indian Territory of the internet resource www.cashe.co.in as well as the CASHe mobile application platform and any other application or software run under the brand name “CASHe”. Whereas CASHe is owned by TSLC PTE Ltd, a Singapore based company, which has licensed CASHe mobile application to AFT for perpetual and exclusive use in India. In turn AFT has sublicensed CASHe mobile application to its wholly owned subsidiary, Bhanix Finance and Investment Limited (herein after referred to ‘Bhanix’ or ‘Lender’), which is a RBI registered NBFC. All loans that are disbursed through the CASHe application are underwritten by Bhanix. The CASHe application and software whether run through the internet resource www.cashe.co.in or through the CASHe mobile application or on any other media platform shall hereinafter be referred to as the “App/Application” or “CASHe”.
Bhanix is responsible for the Loan and other facilities provided through the App. You acknowledge that Bhanix and not AFT would be responsible for the contents displayed on the App, loan and other facilities offered. CASHe reserves the right in its sole discretion to remove any content or data, information or material (“User Content”) from the App from time to time.
The foregoing limitations shall apply notwithstanding any failure of the essential purpose of any limited remedy and to the fullest extent permitted under applicable law.
You will register with us using your Facebook or LinkedIn account or Google identity (“Third party sites”). You understand that, by creating an account or by registering through Third party sites, we and others will be able to identify you by your CASHe proﬁle. However, we will not be liable under any circumstance for the generation of your proﬁle or the information you provide therein. CASHe will also not be liable for the photographs and data that the Users might upload, the use and misuse thereof. We will ask for your bank account details only for the Service.
Why does CASHe require permissions for the Android app?
Data / Cookies
You can access your personal identity details on our App through your login and password. We recommend that you do not share your password with anyone. In addition, your personal details are stored on a secure server that only selected personnel contractors and authorised Agencies have access to. We encrypt certain sensitive information using Secure Socket Layer (SSL) technology to ensure that your personal details are safe as it is transmitted to us.
However, you understand and accept no data transmission over the Internet can be guaranteed to be completely secure. We cannot ensure or warrant the security of any information that you transmit to us and you do so at your own risk. Data pilferage due to unauthorized hacking, virus attacks, technical is possible and we take no liabilities or responsibilities for it.
Privacy Policies of Third Party Websites
You also permit us to retrieve your personal, public proﬁle and friend list/ contact list from your Facebook or LinkedIn account or Google identity, in case you are using our internet resource www.cashe.co.in and your call history, phone / address book and geo location, in case you are using our CASHe mobile application.
Any personal information will be used but not limited to allow you to login to your account or to resolve speciﬁc service issues, inform you of our new services or features, or for call centre veriﬁcation, or to communicate with you in relation to your use of the App. Any other information we collect will be used for-
a. Our business purposes and this may include the viewing or advertising of services or relating to any associated services;
b. Analytical purposes, data usage;
c. Improving the Application, or your user experience; and
d. Providing targeted advertisements to you.
For those Users who have registered for the mailing list, their personal information is kept until we are notified that they no longer want their information stored.
Persons who supply us with their telephone numbers may receive communication from us via telephone, text message or emails, pertaining exclusively to new services or any upcoming events. If you do not wish to be on our mailing list, you can let us know of your updated preferences by either emailing us at firstname.lastname@example.org or choosing “unsubscribe” option.
In order to provide and improve our services and to share relevant ads with you, we use and disclose to our advertising and analytics partners non-personally identifiable information that we collect, including cookie data, some log data, and mobile data.
Our App complies fully with all the applicable and relevant laws of India.
Third party advertisers;
Protection of App: We release personal information when we believe, release is appropriate to comply with the law; enforce or apply our User Terms and Conditions and other agreements; or protect the rights, property or safety of App, our users or others. This includes exchanging information with other companies, organizations, government or regulatory authorities for fraud protection and credit risk reduction.
If you are no longer interested in sharing your Personal and Sensitive Information, please e-mail your request at: email@example.com. Please note that it may take about 72 business hours to process your request.
To the Government and other judicial bodies as required under the law in order to comply with the legal obligations (without the prior permission of customers).
CASHe website shall also contains links to the other websites. Customers are requested to go through the respective privacy polices disclosed under the relevant sites to familiarize themselves.
The Accuracy and Confidentiality of your Account Information is your Responsibility: You are responsible for maintaining the secrecy and accuracy of your password, email address, and other account information at all times. We recommend a strong password that you do not use with other services. We are not responsible for personal data transmitted to a third party as a result of an incorrect email address.
Confidentiality and Security: We use commercially reasonable security measures to protect the loss, misuse, and alteration of the information under our control. However, we cannot absolutely guarantee the protection of any information shared with us.
We make all User information accessible to our employees, agents or partners and third parties only on a need-to-know basis, and bind all such employees to strict confidentiality obligations Notwithstanding the above, We are not 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, We shall not be responsible for any breach of security or for any actions of any third parties or events that are beyond the reasonable control of CashE including, acts of government, computer hacking, unauthorized 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. Please be aware that you can opt out of receiving service messages from us.
If you have any questions or suggestions or wish to make a complaint you can contact us at firstname.lastname@example.org or write to us at the following address:
BHANIX FINANCE AND INVESTMENT LTD
5th Floor, Paville House, Twin Towers Lane,
Off Veer Savarkar Marg, Prabhadevi,
Social Media (Features) and Widgets
BHANIX FINANCE AND INVESTMENT LIMITED
FAIR PRACTICE CODE
The Fair Practices Code aims to provide to all those who will be associated with Bhanix Finance and Investment Limited (“Bhanix”) with the information about the practices Bhanix follows in respect of the financial facilities, loans and services provided, which will facilitate the customers/borrowers to take informed decisions in respect of the financial facilities and services to be availed by them and will apply to any loan that Bhanix may sanction and disburse.
Bhanix had adopted the Fair Practice Code (the “FPC”) pursuant to Reserve Bank of India’s (“RBI”) Circular DNBS (PD) CC NO.80/03.10.042 /2005- 06 of September 28, 2006, issued to all Non-Banking Financial Companies (NBFCs). Further to RBI’s Circular DNBS.CC.PD.No. 266/03.10.01/2010-11 dated March 26, 2012 on the Guidelines on Fair Practices Code for all NBFCs, Bhanix has modified and adopted the FPC as stated below in conformity with the Guidelines given by RBI in the aforesaid Circulars and as updated pursuant to RBI’s Master Circular DNBR (PD) CC.No.054/03.10.119/2015-16 dated July 1, 2015.
III. APPLICATION FOR LOANS AND THEIR PROCESSING:
IV. LOAN APPRAISAL AND TERMS & CONDITIONS:
V. DISBURSEMENT OF LOANS INCLUDING CHANGES IN TERMS AND CONDITIONS:
VI. RELEASE OF SECURITIES:
Bhanix shall release all securities, if any, on repayment of all dues or on realisation of the outstanding amount of loan and/or all dues owed to Bhanix subject to any legitimate right or lien for any other claim that Bhanix may have against the customers/borrowers. If such right of set off is to be exercised, the customers/borrowers shall be given notice about the same with full particulars about the remaining claims and the conditions under which Bhanix is entitled to retain the securities till the relevant claim is settled/paid.
VIII. INTEREST RATE:
IX. GRIEVANCES REDRESSAL:
Grievance Redressal Officer:
Name: Mr. Vilas Unavane
Designation: Compliance officer
Telephone No: 022-71774000
Email id: email@example.com
Fax : 022-71774050
Address: Bhanix Finance and Investment Ltd
5th Floor Paville House, Twin Towers Lane,
Off Veer Savarkar Marg., Prabhadevi,
Mumbai – 400025.
X. RECOVERY OF LOAN: