Terms and Conditions

These terms and conditions (“Terms & Conditions”) govern your use of the website www.reshamudra.com, (“Website” or/and collectively be referred to as “Platform”) owned and operated by Shapos Services Pvt Ltd, with its registered office at ReshaMandi Corporate Office, 30ft cross road, opposite Ozone Evergreens, Harlur Main Road, Bengaluru, Karnataka 560102(hereinafter referred to as “us” / “we” / the “Company”).

As a user (“User” or “you”) of the Platform, you understand that the Company is a financial – technology platform providing access between you and various financial institutions, data partners and other partners, service providers etc. with a view to facilitating lending, borrowing and such other services as may be introduced by the Company from time to time.

Please read these Terms & Conditions carefully before accessing or using our Platform or any part thereof. Additionally, please review our ‘Privacy Policy’ as well to fully understand our privacy practices, which you can find (“Privacy Policy”). It also governs your visit to and use of the Platform, in addition to these Terms & Conditions.

By accessing or using any part of the Platform, you agree to be bound by these Terms & Conditions read with the Privacy Policy (collectively, the “Terms”). If you do not agree to all the terms and conditions, then you may not access the platform or use any services provided by the Platform. By registering with the Platform and by using the Platform’s services (referred to collectively as “Services”), you understand and agree that we will treat your use of the Services as acceptance of these Terms from that point onwards.

We reserve the right, at our sole discretion, to update, change or replace any part of these Terms & Conditions by posting updates and changes to our Platform. It is your responsibility to check the Platform periodically for changes. Your continued use of or access to the Platform or the Service following the posting of any changes to these Terms constitutes your acceptance of such changes.

These Terms form a legal and binding agreement between the User and us and are made pursuant to the terms of the Information Technology Act, 2000.

You acknowledge and agree that the Company owns all legal rights, titles and interests in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights are registered or not, and wherever in the world those rights exist).

You understand that you do not have the right to use any of the Company’s trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. You do not have the right to remove, obscure, or alter any proprietary rights notices (including trademark and copyright notices), which may be affixed to or contained within the Services. You will not copy or transmit any of the Services.

You further acknowledge that the Services may contain information which is designated confidential by Company and that you shall not disclose such information without the Company’s prior written consent. You will not copy, create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sub-license, grant a security interest in or otherwise transfer any right in the Services.

You agree not to use the website for any purpose that is unlawful, illegal or forbidden by these Terms, or any local laws that might apply to you. The Company may, at its sole discretion, at any time and without advance notice or liability, suspend, terminate or restrict my access to all or any component of the website or the availability of the website itself.

GENERAL 

The Platform facilitates loans and other facilities to You from approved lending institutions and various other partners (“Partners”).

On the Platform, you may browse and search for Partners including third-party lenders. The Company shall merely facilitate a transaction between the Partner and You. We neither lend nor borrow through this Platform, any/all services facilitated through our Partner shall be on such terms as may be mutually agreed between you and the Partner. The Company is not an organization registered with the Reserve Bank of India or any other regulatory authority and does not hold any license to directly provide the services referred to herein relates to the same.  The Company is not a ‘Financial Institution’ under the Companies Act, 2013 or the Banking Regulation Act, 1949 or any other laws for the time being in force in India. The Company is also not a deposit-taking company or a chit fund or a company offering any investment schemes as per the rules and regulations for the time being in force in India.

In the event you wish to avail any of the products displayed on the Platform, you will be required to provide certain information.

You agree to allow Company, on behalf of the Partner, to send you payment reminders or such other reminders, or messages as may be required from time to time pursuant to facilitation services provided by the Company. You also agree that if you fail to pay any amount owed to the Partner, pursuant to any agreement, Company may engage in collection efforts to recover such amounts from you on behalf of the Partner.

The Company in order to provide facilitation services will be using and sharing your information with multiple partners and other parties, as may be required for the purpose mentioned above.

ELIGIBILITY

You hereby declare that you are over 18 years of age, of sound mind and a person resident in India as defined under Foreign Exchange Management Act, 1999.

If the User violates any of these Terms or otherwise violates an agreement entered into through the medium of the Platform, the Company may terminate the User’s membership, delete his/her profile and any content or information posted online by the User on the Platform or prohibit the User from using or accessing the Platform at any time in its sole discretion, with or without notice, including without limitation if the Company believes that User is under the age of eighteen (18) years.

You hereby declare that you are a human being and not a ‘bot’.

SERVICES

You hereby confirm to register with us to avail of a loan/credit from one or more lending partners using the Services.

You hereby understand and acknowledge that the information requested from you is used for the various purposes as set out in our Privacy Policy, including for the purposes of us / our partners complying with various laws, regulations and guidelines (including Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of banks under the Prevention of Money Laundering Act, 2002) promulgated by the Government of India from time to time. You further acknowledge that if you do not provide the requested information to the Company, the Company and its Partners will be unable to provide or continue their services to you.

You confirm that all information given to the Company and its Partners shall be true, correct and not misleading. You agree to provide any additional documents to the Company or any of its Partners, as may be required from time to time.

You hereby understand that every time you wish to make a payment using EMI, you may be provided with online loan terms and conditions. Upon clicking ‘I Accept’ you and your successors/ heirs/ executors will be bound by the terms of the loan in relation to the credit facility. You understand and agree that [–] may charge you a non-refundable administrative fee or a technology usage fee for facilitating the loan to be availed by you and you agree to pay the same. You must understand that this fee may not be refundable to you even if the loan is canceled for any reason whatsoever.’

You hereby understand that when you apply for a loan, the Company (on behalf of one or more Partners), may check your records, amongst other things, with its own records, and any information as available to the Company through any of its sources, including those at credit information companies (CICs); those at fraud prevention agencies (FPAs) for assessing your creditworthiness, verifying identity to prevent and detect crime and money laundering.

You also agree that if you avail of any loans through the Company, you will not (i) use the proceeds thereof for any purpose other than as declared to the Company or our Partners, (ii) accept or attempt to receive the credit facility in the form of cash or any other means, (iii) use the Services in violation of applicable law or (iv) circumvent or attempt to circumvent the provisions of any terms that apply to you or act in a manner that is fraudulent, malicious or otherwise prejudicial to the Company’s reputation direct or indirect interests in relation to the Services.

Your lender also has the right, and obligation, to report your details to CICs in the event that you have delayed repaying your loan installment.

You acknowledge that the Company does not lend any money directly to you, but arranges the loan for you from one or more lending Partners. You acknowledge that our lending Partners reserve the right to reject your application for any facility without assigning any reasons whatsoever without any intimation to you.

The credit limit provided to you is our assessment of your eligibility based on various factors including the policies of our lending Partners, the market influences and our previous experiences. While we strive to be accurate in our assessment of your eligible credit limit, you must acknowledge that the final decisions regarding the loan/credit being provided to you are taken by our lending Partner. You agree to not hold the Company liable if any lending Partner does not make credit available to you.

You acknowledge that interest rates may vary across different lenders, borrowers and loans. To understand the approach that may be followed by your lender in determining the interest rate, please visit the website of our lending Partners.

CUSTOMER COMMUNICATIONS

Accepting these Terms, implies your express consent to be contacted by us, representatives, affiliates, or anyone calling on our behalf at any contact number, or physical or electronic address provided by you while registering your account with the Company. You further agree to us contacting you in any manner, including without limitation, emails, SMS messages, WhatsApp, calls using pre recorded messages or artificial voice, and notifications sent via our platform. You also acknowledge that you understand the English language and are most comfortable receiving communications in the English language.

In our endeavor to effectively deliver the Services, we take your explicit consent to access your emails (registered with us) for the specific purpose of reading emails relevant to the Services, including bank statements, to access your records in connection with your loan application. To the extent required for the provision of the Services, any password-protected document will be accessed via automated means, by utilizing information provided by you to automatically generate passwords in order to safely access such documents. It is further clarified that the consent sought from you shall be used solely in connection with the loan application facilitated through us and such information shall not be shared with any third party, save and except an RBI (“Reserve Bank of India”) registered financial institution which may require the aforementioned information for processing the loan application as well as the compliance of applicable law.

You hereby express your intent to know through telephonic calls, or SMS on Your mobile number mentioned in the application form, as well as in this undertaking, or through any other communication mode, various Company/Partner’s offer schemes or promotional schemes, or any other promotional schemes and hereby authorize Company and its Partners employee, agent, associate to do so. You confirm that laws in relation to the unsolicited communication referred in the “National Do Not Call Registry” (the “NDNC Registry”) as laid down by the Telecom Regulatory Authority of India will not be applicable for such communication/calls/SMS received from Company, its employees, agents and/or associates.

In the event, you have registered your phone number on the ‘Do Not Disturb’ registers with your network provider, you shall ensure to take all steps to enable the Company’s representatives to contact you via phone to provide details about different financial products and you shall not register a complaint with the relevant authorities for the same.

PRIVACY 

You hereby acknowledge, understand and consent to the terms contained in the Privacy Policy, which you have duly read and fully understood. You acknowledge, agree and give consent to the Company that the Company and its officers, employees, service providers and agents may use, store, process, disclose, transfer (whether within or outside India) and/or exchange your information (including personal data) in accordance with our Privacy Policy.

You hereby authorize and permit the Company to disclose, from time to time, any information on or relating to me to any of its subsidiaries or affiliates or to any governmental authority, statutory authority, the judicial authority or credit bureaus, associated partners, lenders, whether in India or any other jurisdiction or Reserve Bank of India or third party or the Company’s consultants, advisors or service providers as provided in the Privacy Policy, without the requirement for any further consent from you.

You are responsible for maintaining the secrecy of your passwords, login and account information. You will be responsible for all use of the Platform either by yourself or by anyone using your password and login information (with or without your permission). You will only use the website to search for and to apply for loans and will not use the website to make any fraudulent applications.

You understand that we/ our lending Partners may retrieve/ procure/download your KYC data/ details from the Central KYC registry for the purposes of verifying/establishing the data/details/identity and you hereby allow us/them to do so.

ASSIGNMENT

You will not assign or otherwise transfer your rights or obligations under these Terms. The Company may assign its rights and duties under these Terms without any such assignment being considered a change to the Terms and without any notice to me.

GOVERNING LAW AND DISPUTE RESOLUTION

The laws of India, without regard to its conflict of laws rules, will govern these Terms and your use of the Platform. In case of any legal action courts located in Bengaluru, India will have jurisdiction over such matters. In any proceedings initiated by or against us, the Company will be entitled to recover all legal expenses incurred in connection with the legal action, including but not limited to costs, both taxable and non-taxable, and attorney fees.

LIMITATION OF LIABILITY

All content and services provided on the website are provided on an “as is” and “as available” basis. The Company expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, and security and accuracy, as well as all warranties arising by usage of trade, course of dealing, or course of performance.

The Company makes no warranty, and expressly disclaims any obligation, that: (a) the content will be up-to-date, complete, comprehensive, accurate or applicable to my circumstances; (b) the Platform will meet your requirements or will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Platform or any Services will be accurate or reliable; or (d) the quality of any products, services, information, or other material obtained by you through the Platform will meet your expectations.

The Company (including its officers, directors, employees, representatives, affiliates, and providers) will not be responsible or liable for (a) any loss, claim, the act of God, accident, delay, injury, death, or any direct, special, exemplary, punitive, indirect, incidental or consequential damages of any kind (including without limitation lost profits or lost savings), whether based in contract, tort, strict liability or otherwise, that arises out of or is in any way connected with (i) any failure or delay (including without limitation the use of or inability to use any component of the Platform), or (ii) any use of the website or content, or (iii) the performance or non-performance by the Company or any Partner, or (b) any damages to or viruses that may infect my computer equipment or other property as the result of my access to the website or by downloading of any content from the website.

USE OF THE PLATFORM

You shall not use the Platform otherwise than as an end-user. You shall always comply with all applicable laws in your use of the Platform.

You agree not to circumvent, disable or otherwise interfere with security-related features of the Platform or features that prevent or restrict the use or copying of any content or enforce limitations on the use of the Platform or the content therein.

Except for the Services explicitly provided, the Company does not provide, control or endorse any third-party information, products or services in any manner whatsoever, even if such third-party information, products or services are advertised on the Platform. The Company shall under no circumstance be responsible for any delay/default or any other issue in the services provided by its Partners.

The Company shall not be responsible for any delay or failure resulting from infrastructure issues, like server uptime, network availability and connectivity.

The Platform is controlled and offered by the Company from its facilities in India. If you are a user outside India, please take note the Company is subject only to Indian law and only to the jurisdiction of Indian courts. The Company makes no representations that the Platform is appropriate or available for use in other locations. Therefore, if you are a user outside India, you may use the Platform solely of your own volition and at your own risk. You shall be solely responsible for compliance with local law.

LICENSE AND ACCESS 

The Company and its licensors, if any, shall be the sole and absolute owners of the Platform, including but not limited to the idea behind the Platform, the copyright in all content on the Platform and all trademarks, designs, logos and other insignia of trade used on Website and elsewhere during the performance of the Services, all of which are subject to protection under patent, copyright, trade mark and trade secret and other intellectual property laws of India and other countries.

The Company grants you a limited, non-transferable and revocable license to access and use the Platform or any part thereof for availing the services, but not to download any material from it (other than page caching) or modify it, or any portion of it, except with express consent of the Company and/or its affiliates, as may be applicable. Any unauthorized access to the Platform (or any part thereof) or any networks, servers or computer systems connected to the Platform and any attempt to modify, adapt, translate or reverse engineer any part of the Platform or re-format or frame any portion of the pages of the Platform is not permitted.

This license is non-transferable and does not permit any resale or commercial use of this Platform or its contents; any downloading or copying of account information for the benefit of anyone other than Your use; or any use of data mining, robots, or similar data gathering and extraction tools. The Platform or any portion of the Platform (including but not limited to any copyrighted material, trademarks, or other proprietary information) may not be reproduced, duplicated, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without express written consent of the Company and/or its affiliates, as may be applicable. Any unauthorized use of the Platform shall terminate the permission or revoke the license granted by the Company and the Company shall have the right to seek legal recourse available to it under applicable laws.

MONITORING OF THE PLATFORM AND YOUR ACCOUNT 

The Company always has the right and liberty to monitor the content of the Platform or any part thereof which shall include information provided in your account. The monitoring of the Platform is important to determine the veracity of the information provided by you and that every User remains in consonance with the Terms. Subject to the Terms, the Company shall also have the liberty to remove any objectionable content which is in contravention of the Terms or any applicable laws in force in India or share such information with any governmental authority as per procedures laid down by the law for the time being in force in India.

SERVICE SUSPENSION 

The Company may wish to stop providing the services and may terminate use of it at any time without giving notice of termination to you. Unless the Company informs the User otherwise, upon any termination, (a) the rights and licenses granted to You in these Terms will end; and (b) User must stop using the Platform or any part thereof forthwith. The Company reserves the right to suspend, or cease providing any service and shall have no liability or responsibility to the User in any manner whatsoever.

PROHIBITED USES

In addition to any other prohibitions as set forth in the Terms, you are prohibited from using the Platform: (a) for any unlawful purpose; (b) to solicit others to perform or participate in any unlawful acts; (c) to violate any international, federal, provincial, local regulations, rules, laws, or local ordinances; (d) to infringe upon or violate our intellectual property rights or the intellectual property rights of others; (e) to harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) to submit false or misleading information; (g) to upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the service or of any related website, other websites, or the internet; (h) to collect or track the personal information of others; (i) to spam, phish, pharm, pretext, spider, crawl, or scrape; (j) for any obscene or immoral purpose; or (k) to interfere with or circumvent the security features of the service or any related website, other websites, or the Internet. We reserve the right to terminate your use of the service or any related website for violating any of the prohibited uses.

ADVERTISERS/THIRD-PARTY LINKS ON THE PLATFORM 

The Company accepts no responsibility for advertisements contained within the Platform or any part thereof. The Company has no control over and accepts no responsibility for the content of any website or mobile application to which a link from the Platform or any part thereof exists. Such linked websites and mobile applications are provided “as is” for the User’s convenience only with no warranty, express or implied, for the information provided within them or the veracity thereof.

USER COMMENTS, FEEDBACK AND OTHER SUBMISSIONS

If, at the Company’s request, you send certain specific submissions or without a request from us, you send creative ideas, suggestions, proposals, plans, or other materials, (collectively, “Comments”), You agree that we may, at any time, without restriction, edit, copy, publish, distribute, translate and otherwise use in any medium any Comments that you forward to us. We are and shall be under no obligation (a) to maintain any Comments in confidence; (b) to pay compensation for any Comments, or (c) to respond to any Comments.

You agree that your Comments will not violate any right of any third party, including copyright, trademark, privacy, personality or other personal or proprietary rights. You further agree that your Comments will not contain libelous or otherwise unlawful, abusive or obscene material, or contain any computer virus or other malware that could in any way affect the operation of the Service or any related website. You may not use a false e-mail address, pretend to be someone other than yourself, or otherwise mislead us or third parties as to the origin of any Comments. You are solely responsible for any Comments you make and their accuracy. We take no responsibility and assume no liability for any Comments posted by you or any third party.

MISCELLANEOUS

Takedown Policy: If you believe that there is any content available on the Platform which is contrary to Company’s policies or applicable law, then please notify the Grievance Officer at the email ID provided in the Privacy Policy/Website. When You send such notice, please ensure that Your notification contains the following details:

• Your name, email ID, phone number and postal address;
• The exact nature of the objectionable content and the exact location (including the relevant web page) where it appears; and
• Why do you consider the content to be objectionable?

We will evaluate the contents of the notice and may take such action as we deem appropriate in keeping with our policies and applicable law which may include, asking for further details from You or taking down the content that was the subject matter of Your notice.

Notices: Any notice required to be given to Company under these Terms & Conditions shall be sent by registered mail or recognized courier to the following address: ReshaMandi Corporate Office, 30ft cross road, opposite Ozone Evergreens, Harlur Main Road, Bengaluru, Karnataka 560102

NACH Mandate Cancellation Request: As per the NPCI Circular No.013 dated 11-Sep-2020, if you wish to cancel your NACH mandate registration with us please write to us at support@reshamudra.com along with your name, e-mail id, and phone number. We will assist you accordingly. Acceptance of the request will be at the discretion of the lending Partner.

Severability: Notwithstanding that the whole or any part of any provision of these Terms may prove to be illegal or unenforceable, the other provisions of these Terms and the remainder of the provision in question shall continue in full force and effect.

No Waiver: No failure or delay in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Every right or remedy herein conferred upon or reserved to either party shall be cumulative and shall be in addition to every right and remedy existing at law or equity or by statute and the pursuit of any one right or remedy shall not be construed as an election.

GRIEVANCES

You can raise his/her grievance in relation to services provisioned by the Company through the Platform, by writing an email to support@reshamudra.com or call 9901300605