Legal Compliance

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Privacy Policy

The terms "We" / "Us" / "Our"/” Company” individually and collectively refer to Dr Indrajit Yadav Nidhi Limited and the terms "You" /"Your" / "Yourself" refer to the users.

This Privacy Policy is an electronic record in the form of an electronic contract formed under the information Technology Act, 2000 and the rules made thereunder and the amended provisions pertaining to electronic documents / records in various statutes as amended by the information Technology Act, 2000. This Privacy Policy does not require any physical, electronic or digital signature.

This Privacy Policy is a legally binding document between you and Dr Indrajit Yadav Nidhi Limited (both terms defined below). The terms of this Privacy Policy will be effective upon your acceptance of the same (directly or indirectly in electronic form, by clicking on the I accept tab or by use of the website or by other means) and will govern the relationship between you and Dr Indrajit Yadav Nidhi Limited / Dr Indrajit Yadav Nidhi Limited for your use of the website “www.diyanidhi.com” (defined below).

This document is published and shall be construed in accordance with the provisions of the Information Technology (reasonable security practices and procedures and sensitive personal data of information) rules, 2011 under Information Technology Act, 2000; that require publishing of the Privacy Policy for collection, use, storage and transfer of sensitive personal data or information.

Please read this Privacy Policy carefully by using the Website, you indicate that you understand, agree and consent to this Privacy Policy. If you do not agree with the terms of this Privacy Policy, please do not use this Website.

By providing us your Information or by making use of the facilities provided by the Website, You hereby consent to the collection, storage, processing and transfer of any or all of Your Personal Information and Non-Personal Information by us as specified under this Privacy Policy. You further agree that such collection, use, storage and transfer of Your Information shall not cause any loss or wrongful gain to you or any other person.

USER INFORMATION

To avail certain services on our websites, users are required to provide certain information for the registration process namely: - a) your name, b) email address, c) sex, d) age, e) PIN code, f) credit card or debit card details g) medical records and history h) sexual orientation, i) biometric information, j) password etc., and / or your occupation, interests, and the like. The Information as supplied by the users enables us to improve our sites and provide you the most user-friendly experience.

All required information is service dependent and we may use the above said user information to, maintain, protect, and improve its services (including advertising services) and for developing new services

Such information will not be considered as sensitive if it is freely available and accessible in the public domain or is furnished under the Right to Information Act, 2005 or any other law for the time being in force.

COOKIES

To improve the responsiveness of the sites for our users, we may use "cookies", or similar electronic tools to collect information to assign each visitor a unique, random number as a User Identification (User ID) to understand the user's individual interests using the Identified Computer. Unless you voluntarily identify yourself (through registration, for example), we will have no way of knowing who you are, even if we assign a cookie to your computer. The only personal information a cookie can contain is information you supply (an example of this is when you ask for our Personalised Horoscope). A cookie cannot read data off your hard drive. Our advertisers may also assign their own cookies to your browser (if you click on their ads), a process that we do not control. 

Our web servers automatically collect limited information about your computer's connection to the Internet, including your IP address, when you visit our site. (Your IP address is a number that lets computers attached to the Internet know where to send you data -- such as the web pages you view.) Your IP address does not identify you personally. We use this information to deliver our web pages to you upon request, to tailor our site to the interests of our users, to measure traffic within our site and let advertisers know the geographic locations from where our visitors come. 

LINKS TO THE OTHER SITES

Our policy discloses the privacy practices for our own web site only. Our site provides links to other websites also that are beyond our control. We shall in no way be responsible in way for your use of such sites.5.

INFORMATION SHARING

We share the sensitive personal information to any third party without obtaining the prior consent of the user in the following limited circumstances:

(a) When it is requested or required by law or by any court or governmental agency or authority to disclose, for the purpose of verification of identity, or for the prevention, detection, investigation including cyber incidents, or for prosecution and punishment of offences. These disclosures are made in good faith and belief that such disclosure is reasonably necessary for enforcing these Terms; for complying with the applicable laws and regulations. 

(b) We propose to share such information within its group companies and officers and employees of such group companies for the purpose of processing personal information on its behalf. We also ensure that these recipients of such information agree to process such information based on our instructions and in compliance with this Privacy Policy and any other appropriate confidentiality and security measures.

INFORMATION SECURITY

We take appropriate security measures to protect against unauthorized access to or unauthorized alteration, disclosure or destruction of data. These include internal reviews of our data collection, storage and processing practices and security measures, including appropriate encryption and physical security measures to guard against unauthorized access to systems where we store personal data.

All information gathered on our website is securely stored within our controlled database. The database is stored on servers secured behind a firewall; access to the servers is password-protected and is strictly limited. However, as effective as our security measures are, no security system is impenetrable. We cannot guarantee the security of our database, nor can we guarantee that information you supply will not be intercepted while being transmitted to us over the Internet. And, of course, any information you include in a posting to the discussion areas is available to anyone with Internet access. 

However, the internet is an ever evolving medium. We may change our Privacy Policy from time to time to incorporate necessary future changes. Of course, our use of any information we gather will always be consistent with the policy under which the information was collected, regardless of what the new policy may be.

A) PREAMBLE / INTRODUCTION

The Fair Practice Code (FPC) has been formulated by Dr Indrajit Yadav Nidhi Ltd (the Company) with a view to institute fairness and healthy practice of the business of the Company and thereby creating cordial relationship between the Company and customer and to foster confidence in the investment service system.

The FPC will be applicable to all the offices of the Company and collection centers. The FPC shall be binding on all the employees and officers of the Company.

In this code, the word “customer” shall also mean “share holder*/member of the Company and vice-versa.

B) OBJECTIVES

The objectives of the FPC are as under.

1. Adopt the best practices in dealings with customers.

2. Set challenging benchmarks and strive to achieve high operating standards for ensuring customer satisfaction.

3. Follow transparent, fair, ethical and legally tenable practices while conducting business.

4. Provide all necessary information and inputs to customers / prospective customers and promote a mutually beneficial long-term relationship.

5. Facilitate a continuously growing base of satisfied customers while scrupulously avoiding acquisition of customers having doubtful credentials or criminal background.

C) DECLARATIONS & COMMITMENTS

1. The Company undertakes to abide by all applicable laws, regulations and guidelines passed / issued by the Regulators and other competent authorities.

2. The Company commits itself to full customer satisfaction through efficient, professional and courteous services across all its offices.

3. The Company shall consistently strive to meet with and improve upon the internally set benchmarks and practices and be ahead of the standards prevalent in the industry.

4. The Company undertakes not to discriminate against customers on grounds of religion, caste, gender or language.

5. The Company will provide clear and full information about its products and services to its customers / prospective customers and will not resort to any misleading or potentially misleading advertisement or publicity,

6. The Company undertakes to desist from introducing any products / services having elements of ‘hidden charges or lack of transparency.

7. The Company will communicate in the local language with the customer and in English at the request of the customer

8. The Company undertakes to take all possible and reasonable measures to secure the safe custody of the security pledged by the customer and to compensate the customer for any accidental, inadvertent or fraudulent loss of the security whilst in the custody of the Company.

9. The Company undertakes not to take advantage of any unintentional or clerical error made by the customer while transacting business.

10. The Company is committed to put in place a system for promptly addressing complaints and suggestions of the customers supplemented with a structured Grievance Redressal Mechanism having an escalation matrix.

11. The Company shall display the FPC on all the places of its operation and also make available to the Customer, on request, a copy of the FPC on demand.

FAIR PRACTICES CODE OF THE COMPANY

(I) LOANS, TERMS & CONDITIONS, INTEREST RATE & CHARGES

1. The Company shall make available loan application forms in local language to all prospective customers free of cost at the concerned collection centers mentioning also the supporting documents to be submitted along with. An acknowledgement for receipt of duly completed loan application forms will be given to the customer in all cases. As a matter of policy and customer service loan applications are sanctioned / rejected immediately. Disbursement of the loan and acceptance of security will be carried out nearly simultaneously.

2. The Company shall disclose all relevant information relating to a loan / product such as eligible loan amount, interest rate, charges, penal/overdue interest, interest calculation methodology, rebate on interest etc, before sanction of the loan to enable the customer / prospective customer to take an informed decision. The Customer / prospective customer will also be provided, on request, the detailed terms and conditions of the loan before sanction.

3. The Company shall ensure that a loan sanction letter is given to the customer containing all the terms and conditions governing the loan facility in the local language or other language understood by the customer. The loan sanction letter will also mention the loan amount, loan account number, interest rate, charges, loan processing fees etc, the loan sanction letter which will bear the signature of the authorized official of the company will also serve as a receipt for the security pledged at the collection center by the customer.

4. The Company shall not in the normal course make any changes / modifications in the terms and conditions of the loan, including rate of interest, which could adversely affect the customer financially or otherwise. In abnormal circumstances when such changes / modifications are inevitable, keeping in view the new circumstances, adequate and proper notice shall be given to the customer about any such change/modification.

(Il) MARKETING & PROMOTION

1. The Company shall not issue or cause to be issued any advertisement in press or media or any other form soliciting deposits or giving loans. However, Company will privately circulate among its shareholders the details of deposit schemes/loans etc.

2. The Company will not indulge in profiteering by charging usurious rates of interest on loans or take undue advantage of adverse market conditions. The rates of interest will be based on variables such as cost of funds, risk premium, loan scheme, loan per gram, profit margin etc. and shall be in conformity with the Interest Rate policy of the Company and Regulatory Guidelines from time to time. It shall also, by and large, be in tune with industry practices and benchmarks.

3. Full and updated information regarding loan schemes, rate of interest, loan per gram, charges etc. will be displayed in the collection centers. Complete or select information will also be made available to the members through private circulation from time to time.

(III) RECOVERY OF DUES, EXERCISE OF LIEN & DELIVERY OF SECURITY

1. The Company will not, as a matter of fair dealing, normally recall the loan before the initially agreed tenure except in unanticipated or abnormal circumstances where the Company's interests are adversely affected e.g. when the security value diminishes substantially, when the quality of security is not found to be acceptable, due to any regulatory / government directives etc. In all such cases proper and reasonable notice shall be given to the customer recalling the loan before expiry of the normal tenure.

2. The Company will make all possible soft or persuasive efforts to get the customer to repay the dues without resorting to disposal of the security. The Company does not accept nor will it encourage the use of any coercive or hard measures to recover its dues from the customer.

3. The Company will deliver the security to the customer immediately upon settlement of the loan in the same condition as was at the time of sanction of the loan. In case of any damage caused to the security due to mishandling by its employees, the Company shall at its cost get the damage repaired or alternately pay reasonable compensation to the customer on a case-to-case basis. If the security has signs of damage thereon, before being taken custody of by the Company at the time of sanction of loan, the fact will be briefly incorporated in the sanction letter.

4. The Company will exercise only the legitimate right of lien over the pledged security or such cash surplus as may arise upon settlement of existing loans at any time. Such right of lien shall arise only if the customer has any other dues, either directly or as guarantor, and will be subject to proper intimation of such right of lien being given to the customer by the Company.

5. The Company shall issue a signed and, normally, a system generated receipt for all cash payments made by the customer immediately. The Company shall also accept payments vide cheques, demand drafts, electronic transfers etc. subject to the condition that return of the security will be made only after confirmation of realization.

6. Even though the loan sanction letter contains all applicable terms and conditions of the loan the Company shall, nevertheless, endeavour, on a best effort basis, to send advice, reminders etc. regarding due date for payment of interest, principal etc. by letter, courier service, telephone, SMS etc.

7. The Company shall, on demand, provide the customer or his duly authorized representative with a statement of the loan account at any time during the currency of the loan or immediately upon closure, However, the Company may, at its discretion, require payment of reasonable processing charges by the customer for providing statement of account if such demand is made 30 calendar days after closure of the account.

8. The Company will resort to disposal of security only as a last resort and that too after adequate and proper notice is served on the customer to repay the dues. Such notice will be as per the terms contained in the sanction letter and also in compliance with applicable laws and regulatory guidelines. The disposal of the security will be taken up through public auction when the customer does not positively respond to the communications sent by the Company to close the loan account along with interest and other charges.

9. Where the Company proposes to dispose of the security even before the normal tenure of the loan based on the rights conferred on the Company vide loan application and loan sanction letter adequate and proper notice will be served on the customer before such action is initiated for recovery of dues.

10. The Company prefers and encourages customers to take back delivery of the security immediately upon full settlement of all dues. However, should there be exceptional instance of the Customer being unable to take delivery of the security, not attributable to the inability of the Company, after closure of the loan account reasonable safe custody charges may be payable which will be duly advised to the customer or displayed in the collection center premises and the Company's website,

11. The Company will not interfere in the affairs of the customers except for the purposes mentioned in the terms & conditions of the loan or when constrained to do so due to inadequate or false disclosures made by the borrower at the time of putting through the transactions.

(IV) CUSTOMER SERVICE & GRIEVANCE REDRESSAL

1. The Company will implement all possible steps to prevent and minimize customer complaints / grievances

2. The Company will facilitate the customer to pay the whole or part of the dues at any of the collection centers of the Company subject to the condition that delivery of the pledged security shall be made only at the collection center where loan was originally disbursed.

3. The Company will put in place an effective Customer Grievance Redressal mechanism details of which will be displayed on the website and in all the collection centers. The mechanism will specify interalia the names & designations of the officials with whom complaints can be registered, their postal address / telephone numbers/ email address, escalation matrix, time limit for acknowledging receipt of complaint, time limit for dealing with the complaint etc.

4. The Company will put in place an effective training system to ensure that employees of the Company are customer friendly and do not resort to rude, inappropriate or unethical behavior.

5. The Company will endeavour to work out and display the time norms for putting through and completing the various transactions.

6. The Company will have a sympathetic approach to the problems faced by the customer especially the poor and underprivileged sections,

(V) MISCELLANEOUS

1. The Company shall display the normal business hours at the respective collection centers, the list of holidays and notify the changes, if any, by way of a notice displayed in the premises of the collection center or through press notification.

2. Personal information of the customer will not be shared with unauthorized persons or agencies or third parties by the Company. However, the Company will be bound to honour and comply with legal or regulatory requirements, if any, in this matter obligating it to part with such information even without notice to the customer.