Source: https://www.cashe.co.in/privacy-policies/
Timestamp: 2019-04-18 12:50:48+00:00

Document:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 support@cashe.co.in 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.
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 support@cashe.co.in.
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.
The Fair Practices Code aims to provide to all those who will be associated with One Capitall Limited with the information about the practices One Capitall Limited 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 One Capitall Limited may sanction and disburse.
One Capitall Limited 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, OCL 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.
To provide customers/borrowers with key terms and conditions of facility provided for their consideration prior to commitment of a transaction.
To promote fair and cordial relationship between the OCL and its customers/borrowers.
All communications will be made in a language understood by the customers /borrowers or in a vernacular language, wherever required.
The loan application forms shall include necessary information which affects the interest of the customers/borrowers, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the customers /borrowers.
The loan application forms will provide an indicative list of KYC documents and other documents to be submitted, together with the duly completed application form. If any additional details/documents are required, the same shall be intimated to the customers/ borrowers. The need for such information and documents shall be explained to the customers/borrower and reasonable time shall be provided for submission of the same.
An acknowledgement shall be provided for all loan applications received. The OCL will indicate the approximate time frame within which the loan application will be processed post the submission of completed loan application form.
The loan applications shall be subject to OCL’s credit appraisal process and a due diligence on the creditworthiness of the customers/borrowers which will form an important parameter for taking a decision on loan application.
OCL shall convey in writing to the customers/borrowers by means of sanction letter in the language understood by the customers/borrowers or in vernacular language, if required, the amount of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof. In case of specific app based/paperless loans provided by OCL, OCL shall convey the details of the amount sanctioned either through email or sms to the registered email/mobile phone number of the Borrower.
OCL shall keep on its record the acceptance by the customers/borrowers on the sanction letter. In case of app based/paperless loans, request by Borrower to disburse the sanctioned loan amount or part thereof shall be deemed to be acceptance by Borrower of the loan and loan terms.
At the time of sanction/disbursement of loans, OCL shall furnish to all customers/borrowers a copy of the loan agreement along with a copy of all enclosures quoted in the loan agreement, preferably in vernacular language or in the language as understood by the customers/borrowers, which will contain the terms and conditions, the rate of interest, additional/penal interest for late payment in bold that shall be annexed to the loan agreement.
The OCL shall have a built in repossession clause in the contract/loan agreement so as to have legal enforceability.
OCL shall frame internal principles and procedures for determining and ensuring that the interest rates and processing and other charges are not excessive.
The disbursement will be done upon compliance of all the terms and conditions of the sanction by the customers/borrowers.
OCL shall give notice to the customers/borrowers in vernacular language or in the language understood by the customers/borrowers of any changes to the terms and conditions, including disbursement schedule, interest rates, service charges, prepayment charges, etc.
OCL 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 OCL, subject to any legitimate right or lien for any other claim that OCL 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 OCL is entitled to retain the securities till the relevant claim is settled/paid.
OCL shall refrain from interference in the affairs of the customers/borrowers, except for the purposes provided in the terms and conditions of the loan agreement (unless new information, not earlier disclosed by the customers/borrowers, has come to the notice of the OCL).
OCL may arrange for enforcing security provided by the delinquent customers/borrowers. In all such instances, CL shall ensure that the entire process of enforcing its security, valuation and realization thereof is fair and transparent.
OCL shall ensure that its employees are adequately trained to deal with customers/borrowers in an appropriate manner.
OCL shall ensure that it will not unduly charge excessive interest rates to its customers/borrowers.
The interest rate for its customers/borrowers would be arrived at taking into account the broad parameters such as risk profile of the customers/borrowers, interest rate trends prevailing in the money market, cost of borrowings, primary and collateral security offered by customers/borrowers structure of the deal, interest rate charged by competitors and the historical track record of the customers/borrowers with OCL.
Interest rates would be intimated to the customers/borrowers at the time of sanction/ availing of the loan.
OCL shall abide by this FPC following the spirit of the Code and applicability to its business.
The interest rate policy adopted by OCL for determining the interest rate, processing fees and other charges is published on its Website www.onecapitall.com as updated from time to time.
Santacruz (West), Mumbai – 400 054.
All grievances shall be heard and disposed off by a person at least one level higher to the person / designation against / relating to whom the grievance is made. After examining the matter, it will be our endeavor to provide the customers/borrowers with our final or other response as early as possible.
If the complaint/grievance/dispute is not redressed within a period of one month the customer/borrower may appeal to the officer–in–charge of the Regional Office of DNBS of Reserve Bank of India, at Centre I, World Trade Centre, Mumbai-400 005.
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.
“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.
“CASHe Crown” shall mean Reward Program, offering certain benefits to CASHe Customers satisfying specified criteria. The benefits & criteria are slotted separately for each variant of CASHe Crown Reward Programme viz: CASHe Silver, CASHe Gold, CASHe Platinum and CASHe Diamond.
“Contract” shall include these T&C, various Policies of Lender and User Terms and Conditions as may be amended and modified from time to time.
“Disbursement” means any and every amount advanced to, and borrowed by, the Borrower under the Loan.
“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.
“Lender” shall mean Bhanix Finance and Investment Limited (Herein after referred as “Lending NBFC”), and where the Loan is assigned shall mean any entity to whom the Loan is assigned by Lender.
(ii) on the ability of such Person to comply with its obligations under this Contract.
“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.
2.1 Registered Account:In order to avail a Loan through CASHe, the Borrower is required to register himself with CASHe. The registration can be done only through a valid Facebook, LinkedIn or Google identity. The CASHe mobile application runs on Android and iOS phones and Borrower shall ensure to not close or uninstall or disable or discontinue the CASHe mobile application so long as Loan Account is not fully repaid, once he has availed of a Loan hereunder. Borrower is required to register with CASHe only once against which he will receive a Unique Customer Number. Once Borrower is registered with CASHe, he can apply and avail loans from CASHe from time to time without having to register again. If any of the Borrower's proﬁle details change, i.e. Employer, Salary, Address, Contact Details, Bank Account Details etc., the Borrower must notify CASHe immediately.
Borrower should have a valid Google, LinkedIn account and/or Facebook account.
Borrower should have PAN No, PAN Card, Aadhaar No, and Aadhaar Card registered under Unique Identification Authority of India (UIDAI).
2.3 The Borrower will have to provide basic details and documents as stipulated in the Registered Account opening page in order to be duly registered with CASHe. The documents required to be submitted to the Lender will be in accordance with the Know Your Customer Policy of the Lender displayed on the Website from time to time. Any change in basic details and documents provided by the Borrower should be intimated.
2.4 Based on the documents and details provided, the Borrower's eligibility will be calculated and Borrower will be informed of his eligibility within 2 (two) hours of registering his Account and providing all required documents and details. It may be possible that in certain cases, the eligibility assessment may take longer than expected due to Borrower's profile being incomplete, or requisite documents are not being provided or additional information, documents are required to establish the credibility of the Borrower.
2.5 Social Loan Quotient: Borrower acknowledges that the Social Loan Quotient (SLQ) is a proprietary credit rating score of CASHe to let customers to borrow cash whenever they need it and wherever they need it through Lender using CASHe Technology. The SLQ is an evaluation of the Borrower's social presence on the basis of, but not limited to, details provided, mobile data, Facebook and/or LinkedIn, his employment history, and evolution of his career. Essentially, it determines how l the Borrower is likely to pay back the Loan and Amounts Due to the Lender. The SLQ uses the Borrower's internet presence as one of the benchmarks to ascertain the Borrower's creditworthiness. The SLQ could be determined by Lender itself or through any third party agencies or with help of CASHe technology support.The Borrower can be prevented from applying for Loan in absence of SLQ or adequate SLQ, at the discretion of Lender.
2.6 The Borrower consents that he shall accept eligibility criteria including SLQ arrived at by the Lender/third party agency commissioned by the Lender. The Lender or third party agency shall not be liable under any circumstances to share the computation or details or basis of arriving at the eligibility criteria including SLQ.
2.7 The Lender reserves the sole right and discretion to approve your application without having the need to provide any reasons for the same. Lender reserves the sole right to accept or reject a Member, if the Borrower/customer does not fit the criteria set out by Lender.
3.1 The Loan that can be availed by the Borrower in multiple of Rs.1000/- ranges between Rs. 5000/- to Rs. 3,00,000/- depending on the SLQ of the Borrower and options chosen by the borrower and at the absolute discretion of Lender.
3.2 The Borrower has to fill an online application on the CASHe app confirming the amount of Loan that he seeks to avail. Having provided all documents and details required by Lender, Borrower shall receive an intimation confirming amount of Loan that the Borrower is eligible to receive. Thereafter, the Loan Amount will be disbursed to the Borrower's Bank Account, as per latest Bank Statement uploaded by borrower and/or to Paytm Wallet Account as may be instructed by borrower. Please refer following clauses.
3.2.1 The borrowers have option to request entire or part of the Loan amount to his/her Paytm Wallet Account, subject to limit of Rs.19,500/ - credit balance to his Account. For Example, if borrower request disbursement of Rs.19,500/- Loan amount to his/her Paytm Wallet Account, which is already having credit balance of Rs. 4000/- then only Rs.16,000/- will be credited to Paytm Wallet Account and balance Rs.4000/- will be added/ credited to Bank Account details/Statement provided by the Borrower.
3.2.2 Even if borrower request credit of entire loan amount, up to Rs.19,500/- to Paytm Wallet Account, its mandatory for borrower to provide details of Bank Account and upload self certified Bank statement and/or download Bank Statement using Net Banking for scrutiny by Perfios or any third party agency commissioned by Lender whenever required.
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.
ii. Borrower has provided all documents and details required by CASHe; to the satisfaction of Lender.
vii. the Borrower has fulfilled all other conditions as may be specified by the Lender from time to time.
3.4 A Disbursement shall be disbursed to, or on behalf of, the Borrower as may be decided by the Lender. A Disbursement made on behalf of the Borrower(s) shall be deemed to be a borrowing by the Borrower.
3.5 Borrower can avail of multiple Loans under one Registered Account within the upper limit of Rs. 3,00,000. The Loan shall not be revolving. Each Loan availed by Borrower shall be distinct and separate and in multiples of Rs. 1,000/-.
3.6 The Borrower shall under no circumstances use the Loan Amount for any unlawful or illegal purposes whatsoever.
3.7 Notwithstanding anything stated above or elsewhere in this Contract, it is expressly agreed by the Borrower that the Lender shall not be bound to continue the Loan or make any Disbursement, and the Lender may, in its sole and exclusive discretion, at any time, without assigning any reason, decline to make a Disbursement or otherwise discontinue the Loan consequently recalling the entire Loan, which decision shall be binding on, and shall not be questioned by, the Borrower, and the Lender shall not be liable for any damages or other consequences to the Borrower or any other Person by reason thereof.
3.8 Notwithstanding anything contained herein, it is clarified that the Borrower shall repay the Loan Amount and Amounts Due to the Lender forthwith on demand. Unless the demand is made by the Lender, the Borrower shall repay the Loan on the Due Date.
4.1 As stated in clause 3.2 above, once the Borrower receives the intimation regarding his eligibility from CASHe, he has to choose the amount of Loan that he wishes to avail (“Disbursement Request”). Thereafter the Loan Amount will be disbursed to the Borrower's bank account and/or Paytm Wallet Account as provided by the Borrower while registering his Account along with uploading of latest Bank Statement reflecting salary credit. At no point of time shall Lender be responsible for any loss caused due to Borrower having provided erroneous bank details and/or Bank Statement and/or Paytm Wallet Account details.
4.2 The SLQ and offer to avail Loan shall be available to the Borrower at the discretion of Lender for a period of 90 (Ninety) days from date of intimation received by Borrower. If Borrower fails to log-in and make the Disbursement Request within 90 (Ninety) days of receiving intimation from CASHe, the offer shall lapse and Borrower will have to make a fresh request for Loan with CASHe.
4.3 Notwithstanding anything contained hereinabove, the Lender may at its sole and absolute discretion allow or disallow Disbursement or any Loan. Borrower agrees that the Lender's decision whether to allow or disallow Disbursement or Loan shall be final and binding and Borrower shall have no right under law, contract or equity to contest the Lender's decision.
iii. if the total Loan Amount is not disbursed within the time period stipulated herein.
5.2 Upon the giving such notice as specified in clause 5.1, the right of the Borrower to any further Loan or disbursement shall be suspended or cancelled, as the case may be. The exercise by the Lender of its right of suspension shall not preclude Lender from exercising its right of cancellation, either for the same or any other reason specified in clause 5.1 and shall not limit any other provision of these T&C and Policies. Upon any cancellation the Borrower shall, subject to clause 5.3, pay to Lender all fees and other amounts accrued (whether or not then due and payable) under this Contract up to the date of cancellation.
5.3 In the case of partial cancellation of the Loan pursuant to clause 5.1, interest on the amount then outstanding on the Loan remains payable as provided in clause 6 (Interest).
3.25% ﬂat (39.54% p.a.) of the Loan amount for Tenure of 30 days.
8.25% ﬂat (33.46% p.a.) of the Loan amount for Tenure of 90 days.
15.00% ﬂat (30.42% p.a.) of the Loan amount for tenure of 180 days.
30.00% flat p.a. of the Loan amount for tenure of CASHe one year(360 days).
The processing fee and applicable interest charges for loan tenures from 15 to 90 days will be deducted at source. For the 180-day loan, the processing fee and applicable interest charges i.e. 7.50% will be collected at source for the ﬁrst three EMIs. The balance interest charges i.e. 7.50% will be levied across the tenure of the loan paying months (6 months). Similarly for CASHe One year (360 days) product the processing fee and applicable interest charges i.e. 7.50% of the first 3 (three months) will be collected at source and the balance interest charges i.e. 22.50% will be levied across the tenure of the loan paying months (12 months).
The Interest Amount shall be deducted from the Loan Amount at the time of disbursement along with Processing Fee.
If Borrower availing 15 days Loan, fails to repay within that period, he will be liable to pay 4.00% ﬂat (97.33% pa) as delayed interest for ﬁrst extended 15 days period. If the Borrower further fails to repay within such extended period of 15 days, he will be liable to pay a 2.5% (130.36% p.a.) ﬂat Interest for every 7 days, including a ﬁnal 7 days extension period, at the end of Loan Tenure or EMI due date.
If borrower availing 30 days Loan with single instalment fails to repay within that period, he will be offered interest free grace period of 7 days from the expiry of Loan Tenure. If borrower fails to pay within such grace period of 7 days then 3 % ﬂat (156.43 % p.a.) will be charged as delayed interest for every seven days, including grace period offered.
If borrower availing 90 days Loan fails to repay 1/3rd or such instalment amount of Loan availed on expiry of each 30 days from Loan disbursement, then 7 days grace period offered from due date of instalments. If borrower fails to pay within grace period then 3 % ﬂat (156.43 % p.a.) for each 7 days from due date of instalments, including grace period will be charged as delayed interest.
If borrower availing 180 days Loan, fails to repay the EMI of Loan availed on expiry of each 30 days from Loan disbursement, then 7 days grace period offered from the due date of instalments. If borrower fails to pay within grace period then 3% ﬂat (156.43 % p.a.) for each 7 days from due date of instalments, including grace period will be charged as delayed interest.
Grace Period will be 7 days from the due date and failure to pay within the due date will attract overdue interest @3% per week (156.43 % p.a.) till full and ﬁnal payment. 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).
Lender is free to offer concession in Interest payment and/or Processing Fee, at its own discretion. *Deducted at source.
The Interest levied by the Lender may vary with the interest levied by other Lenders. The Borrowers should compare the rate of interest before accepting loan.
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.
*Processing Fee means charged/levied by the Lender to the Borrower against the processing of loan, which the Borrower will pay to the Lender.
The processing fees levied by the Lender may vary with the processing fees levied by other Lenders. The Borrowers should compare the processing fees before accepting loan.
For CASHe one year(360 days) product, processing fee for repeat loan will remain same, there would be no waiver of processing fee for repeat loan.
ii. The interest shall be calculated from the Date of Disbursement of the Loan. The Date of Disbursement shall be deemed to be the date when the Lender provides instructions to its Banker and/or Lenders Paytm Account for transfer of Loan Amount to the Borrower.
iii. The determination of Interest by Lender, from time to time, shall be final and conclusive and shall be binding upon the Borrower.
iv. Any applicable interest tax, as applicable, shall be payable by the Borrower.
v. The Borrower shall, if so required by the Lender,ECS Mandate or RTGS or NEFT Mandate to the Lender for the due payment of the Interest on the Loan thereon.
i. The Lender shall have at its absolute discretion the right to vary the rate of Interest/ commission/ other charges (including Delayed Interest Rates) applicable to the Loan from time to time.
ii. It is clarified that such variation shall be effective from the date of such variation in the books of the Lender and not from the date of notice/receipt of notice by the Borrower.
i. The Lender shall levy a Delayed Interest at 3% ﬂat (156.43% p.a.) for every week after the due date (including extensions) as stated in Clause 6.1. Please refer clause 6.1 above for illustration on calculation of Delayed Interest.
ii. The Borrower acknowledges that the rates of Interest and of Delayed Interest agreed to by the Borrower are reasonable and the rates of Delayed Interest represent pre-estimates of losses and damages expected to be incurred by the Lender due to the non-payment of dues by the Borrower on or before the Due Date. The Borrower acknowledges that the Loan is a commercial transaction and specifically waives any defence under usury or other Applicable Laws relating to or restricting interest.
CASHe Silver is entry level.
Increase in Loan Eligibility can be opted. Both benefits are not available for same Loan Transaction.
2) Any defaulter shall not be eligible to avail benefits under CASHe Crown and defaulter will immediately lose CASHe Crown classification.
3) CASHe Crown offer is entirely at discretion of Lender .
(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.
ii. In case of any change in Bank Details, Borrower will receive an SMS and/or email. with details of Lender Bank Account in which Amounts Due are to be deposited.
iii. Borrower is required to mail Repayment details to Lender at support@cashe.co.in or by uploading payment details into the mobile application.
iv. If any payment under these T&C is required to be made on or before a day which is not a Business Day or within a day which is not a Business Day or within a period which ends on a day which is not a Business Day, then the Borrower shall be required to make the payment on the immediately preceding Business Day.
v. Lender will intimate Borrower through SMS and/or email regarding Due Date of Repayment of Amounts Due. However Lender assumes no obligation to provide such intimation to the Borrower. The Borrower agrees that it shall be entirely its responsibility to ensure prompt payment of the Amounts Due on the Due Dates.
vi. Repayment of the Facility is to be made by the Borrower on or before the Due Date at the end of Term of Loan.
vii. The Lender shall be entitled to recalculate/ re-compute the Amounts Due if the Lender varies the interest rate and/or upon the occurrence of any event which in the opinion of the Lender necessitates a re-computation/ recalculation of the same.
viii. The Borrower shall electronically confirm and provide a promissory note for due repayment of the Amounts Due and in addition if so required by Lender, give post-dated cheques or ECS Mandate, RTGS Mandate, NEFT requests drawn in favour of Lender or such instruments for payment as may be prescribed by the Lender for the due repayment of the Amounts Due. Such ECS Mandate or cheques shall be deemed to have been given for adequate consideration already received by the Borrower and shall not absolve the Borrower from his liability to pay the said sums hereunder until the cheque or the ECS Instruction is duly realized. The Borrower shall maintain adequate balance for realisation of the cheques or the ECS Instructions on their Due Dates for payment.
Notwithstanding the above, if the Borrower wishes to repay any Loan Amount or Amounts Due or part thereof before its Due Date, the Borrower may do so and send the payment details to support@cashe.co.in. However, Borrower acknowledges that interest deducted at source for the entire 15 /30 /90 / 180/one year(360) days (as applicable) Term of the Loan as stated in Clause 6.1, will not be reduced or refunded in case of prepayment of the Loan. The Borrower may, on such terms and conditions as may be imposed by the Lender, be entitled to prepay any Loan Amount or Amounts Due or part thereof before its Due Date.
i. Lender reserves the right to recall, any cash disbursed to Borrower for failure to disclose materially valuable information to determine credit profile. If Borrower has provided false or misleading information, Lender will call for the Loan Amount/Amounts Due to be repaid within 24 (twenty four) hours, following which Borrower will be deemed to have committed an Event of Default and Consequences of Event of Default shall follow.
ii. Notwithstanding anything contained elsewhere in these T&C or any Policies, Lender shall be entitled to, in its sole and absolute discretion, and without assigning any reason, recall the Loan Amount or Amounts Due or any part thereof by giving to the Borrower 3 (three) Business Days' notice in writing or such longer notice period as may be mandatorily required under Applicable Law, in such event, the Borrower shall be liable to repay / pay the same to the Lender within 3 (three) Business Days of receiving such notice. Upon expiry of the period of notice, the entire Amounts Due shall immediately stand repayable by the Borrower to the Lender.
- CASHe 90 days – 100% of net monthly income. Minimum is Rs. 19000 and maximum not exceeding Rs. 100000 (Subject to repayment of previous loan (if any) on or before due date) and for Diamond borrower, limit will be 120%.
- CASHe 180 days – 200% of net monthly income. Minimum is Rs. 25000 and maximum not exceeding Rs. 200000 and for Diamond borrower, limit will be 240%.
- CASHe one year (360 days) product – 360% of net monthly income. Minimum is 100000 and maximum not exceeding Rs, 300000 and minimum salary should be Rs. 30000.
Loan with Tenure of 15 and 30 days considered as one category and loan with tenure of 90 days and 180 days considered as separate category.
In personal loans at any point Borrower cannot mix loans of one category with other. Ex. if Borrower eligible & availed Rs.40,000 , under 15 -30 days category cannot shift to 90 days category, unless current loan is fully settled. But can take multiple loans within same category of 15-30 days within eligibility.
Borrower can not avail multiple 90 days loan, unless current outstanding is completely paid off.
Personal loans will have products with 4 tenures – 15 Day, 30 Day, 90 Day and 180 Day.
Loan with Tenure of 15 and 30 days considered as one category and loan with tenure of 90 days considered as separate category.
In personal loans at any point Borrower cannot mix loans of one category with other.
Ex. if Borrower eligible & availed Rs.40,000 , under 15 -30 days category cannot shift to 90 days category, unless current loan is fully settled. But can take multiple loans within same category of 15-30 days within eligibility and there is no amount in default.Similarly, borrower who availed loan under 90 days category cannot shift loan to 15-30 days category.
Borrower can not avail multiple 90 day loan, unless current outstanding is completely paid off.
8.2 The Borrower shall be solely liable to bear and pay to the Lender all costs, charges and expenses incurred by the Lender in connection with this Contract, any other documents including but not limited to all costs, charges and expenses incurred for enforcing any provision thereof or recovering any amount payable by the Borrower, all costs of creation, enforcement, realization (or attempted enforcement and realization) of any Amounts Due, including stamp duties (including penalties thereof), all document charges, legal fees, holding costs, registration charges and court fees; any bank charges and charges for dishonoured cheques; and the Borrower shall pay the same to the Lender forthwith on (and in any event within 3 (three) Business Days) of demand by the Lender. In any such cases, the Borrower shall be black listed and no further Loan sanction or Disbursement Request shall be entertained by the Lender.
8.3 The Borrower agrees that he is liable to pay the stamp duty, other fees as applicable on all the documents/ instruments executed by and between the parties or any of them pursuant to the Loan granted by the Lender to the Borrower including but not limited to the Contract and keep the Lender indemnified against all loss, costs, charges and expenses that may be suffered or incurred by the Lender by way of any direct or indirect taxes such as service tax, transaction tax, stamp duty or other fees of any nature.
8.4 Additionally, the Borrower shall also be liable to make payment of all costs, charges, expenses including interest and penalty, if any, payable as a result of non-payment or payment of deficient stamp duty on any of the aforesaid documents, including but not limited to this Contract and all legal costs as between the attorney and clients on a full indemnity basis.
i. Tax on Interest/ Commission: The Borrower shall be liable to pay tax on the interest/ commission payable on the Amounts Due under the said Loans at the prevailing rate(s). The Borrower shall bear and pay any increase in the rate of tax. Where the Lender is required to pay any tax either in pursuance of a general statute or specific order of the Government or other statutory authority relation to only the Lender, the Borrower agrees, declares, confirms and affirms that any increase in the rate of interest/ commission effected by the Lender as a sequel to such statute will be binding on the Borrower and become payable from the date it becomes effective on the Lender.
Tax on Processing Fee: The Borrower shall be liable to pay GST on the processing fee payable by the Borrower to the Lender for the processing of Application of Loan.
ii. All payments of whatever nature (whether by way of principal interest or otherwise) shall be made to the Lender immediately, i.e. clear funds on the day on which they are due, without right of set off or counterclaim or deduction and free and net of all taxes, imposts and levies of any nature whatsoever, by whomsoever imposed, both present and future. All payments shall be made to the place specified by Lender and shall be so paid as to enable the Lender to realise the sum on or before the Due Date. The payment shall be deemed to have been made only on realisation and credit for payment shall be given only on realisation.
i. The details and description of the Borrower provided at the time of Account opening is accurate.
ii. The Borrower is competent to contract under The Indian Contract Act, 1872.
iii. Any declarations and information which has been or which may hereafter be provided by the Borrower to the Lender in relation to the Loan, including in the application form for the Loan and in relation to any other Loan availed of by the Borrower from the Lender or any other Persons, is true and accurate and complete in all respects and is not misleading in letter or spirit whether by reason of omission to state a material fact or otherwise.
iv. The Persons, if any, availing of and operating the Loan and each disbursement for and on behalf of the Borrower are and will be duly authorised by the Borrower to do so.
v. The Borrower is fully empowered to enter into this Contract and to perform his obligations hereunder, and these T&C and Policies are duly accepted by the Borrower, and constitute legal, valid and binding obligations of the Borrower enforceable against him.
vi. No proceedings have been initiated and no events have occurred in connection with insolvency, bankruptcy, liquidation protection against creditors or declaration as a relief undertaking or other similar matters in relation to the Borrower, and there is no order for the appointment of a receiver, administrator, liquidator or other similar Person or authority in relation to the business, undertaking or assets of the Borrower.
vii. Nothing contained herein conflicts with any Applicable Law, regulation or bye law of the Central or a State Government or any local, revenue, tax or statutory authority, including the Securities and Exchange Board of India, the Reserve Bank of India, stock exchange or any other authority, which is binding on the Borrower.
viii. The Borrower is not in arrears of any demand including income tax, corporate tax and any other taxes, rates or levies or any other statutory dues payable to the Central or State Governments or any local, statutory or other authority.
ix. The entering into and acceptance by the Borrower of these T&C and Policies constitute acts done and performed for private and commercial purposes and Borrower will not be entitled to claim immunity for himself or any of his assets from suit, execution, attachment or legal process in any proceedings in relation to these T&C and Policies.
x. If the Borrower authorizes any other Person to transact with the Lender, then such act of the authorized Person shall be binding on the Borrower.
xi. The Borrower has not been included in the list of defaulters by any regulatory/ statutory authority and/or banks and/or financial institutions and/or Non-Banking Financial Companies etc.
xii. The Borrower cannot avail more than Rs. 60,000 (Rupees Sixty Thousands) in a year if he fails to submit Aadhaar Number, Permanent Account Number and other Official Valid Documents pertaining to current address proof i.e utility bill of any of the service provider (electricity, telephone, post-paid mobile phone, water bill, piped gas) not older than two months or property or Municipal tax receipt and has to submit these documents within six months from the date of commencement of account based relationship with Bhanix/CASHe.
xiii. The Borrower will fully cooperate with Lender for OTP based, Aadhaar based & Biometric based verification.
9.2 Each of the representations and warranties contained herein shall be continuing representations and warranties and shall be deemed to have been made by the Borrower and on the date of acceptance of these T&C and repeated by him on every day during the subsistence of this Contract including, in particular, on the date of, and on the date prior to each application for, and grant and disbursement of any part of Loan amount.
9.3 The Borrower agrees to accept the statement of account sent by Lender or by any other authorized representative of Lender as conclusive proof of the correctness of any sum claimed to be due from the Borrower unless the Borrower reverts to Lender within a period of 3 (three) Business Days from the date of dispatch of statement of account.
i. He shall promptly inform the Lender in writing if the Borrower voluntarily or involuntarily becomes the subject of any insolvency or bankruptcy law or proceedings.
ii. He shall inform the Lender if a receiver, administrator, liquidator or other similar Person or authority is appointed or sought to be appointed in relation to the Borrower or his assets.
iii. If any representation or warranty provided by the Borrower is found to be incorrect or misleading as on date of acceptance of this T&C or application for or release of any disbursement or at any time during the subsistence of these T&C, or if the Borrower commits breach of any provision of this Contract, the Borrower shall forthwith inform the Lender of the same. Notwithstanding the same, any breach of the representations, warranties and covenants, shall be deemed to be an Event of Default.
iv. The Borrower covenants that the Borrower shall disclose all such information regarding substantial changes in the Borrower's financial position to the Lender from time to time.
v. Notwithstanding anything to the contrary, the Borrower agrees that the Lender shall have the general right of cancellation or withdrawal of any undrawn Loan, in part and/or in full, or the repayment on demand of any drawn Loan, including the right to call for cash cover on demand for prospective and contingent liabilities.
vi. To execute and deliver to the Lender such further agreements, undertakings, declaration, assurance, security documents and writings as the Lender may from time to time require in relation to the Loan.
vii. To bear and pay all taxes, rates, duties (including stamp duties), charges and other imposts and obligations existing as well as future, in respect of the Loan and these T&C, the transactions hereunder and all writings executed pursuant to or in connection herewith.
(a) Lawsuits, governmental proceedings, or claims which, individually or in the aggregate, involve an amount exceeding 25% of the Borrower's net worth or which may impair the Borrower's ability to perform his obligations hereunder if the relief prayed for were granted.
(b) Occurrence of any Event of Default or any event which with the passage of time (with or without notice) or the giving of notice may result in an Event of Default.
10.2 The Borrower authorizes the Lender to obtain a credit report from a Credit Bureau, or other service provider that holds the Borrower's credit history and related details. The Lender has the right to use the Borrower's credit report, social media profile/content, cell phone data and employment data for authentication, credit scoring and credit decision purposes. The Borrower's credit rating will along with some personal and credit information might be displayed with the Borrower's Loan details to other Lender members or the public to facilitate their own credit decision. The Borrower authorizes the Lender to verify information, and the Borrower agrees that the Lender may contact third parties to verify any such information. The Lender will require and obtain from Credit Bureau a copy of the Borrower's credit report each time the Borrower requests for a Loan.
10.3 The Borrower authorizes the Lender to undertake verification procedures to confirm Borrower's personal identity, Borrower's bank account, Borrower's social status and any other information that the Borrower provides to the Lender through the production of appropriate documentation by the Borrower. The Borrower also accepts that the Lender may provide the Borrower's information to a third party to conduct information and identity verification and the Borrower hereby authorizes the Lender to request and obtain data from a third party to verify any information about the Borrower.
10.4 The Borrower agrees that the Borrower will not, in connection with the Borrower's Loan application (i) make any false, misleading or deceptive statements or omissions of material fact in the listing; (ii) misrepresent identity, or describe, present or portray himself/herself as a person other than the Borrower; (iii) give to or receive from, or offer or agree to give to or receive from any person any fee, bonus, additional interest, kickback or thing of value of any kind; or (iv) represent himself/herself to any person, as a representative, employee, or agent of CASHe, or purport to speak to any person on behalf of CASHe/Lender.
10.5 Borrower agrees that it is his sole obligation to pay Loan Amount, as and when they fall due.
10.6The Borrower authorizes the Lender to exercise mandate including e-Mandate, ECS, NACH, UPI, etc. for direct debit of the Borrowers’ account for the outstanding Loan amount including interest. The Borrower authorises the Lender to enforce lien on the Bank Account for the purpose of repayment of entire loan including interest.
i. If the Borrower commits any breach of any provision of the T&C or Policies or other document including but not limited to (a) default or delay in payment of any Amounts Due within the valid extension period as mentioned in Clause 6.1; (b) misrepresentation or breach of any obligations, warranties, assurances, covenants, statements and particulars mentioned in these T&C or Policies; (c) any information given by the Borrower in his application for grant of Loan is incorrect or misleading, or a representation, warranty or statement made or deemed to be made hereunder or in connection with the Loan or any transaction undertaken with Lender, is incorrect or misleading in any respect.
ii. If Borrower is subject to any bankruptcy or insolvency law.
iii. The death/lunacy or other disability of the Borrower.
iv. If the Borrower is unable to pay his debts as and when they arise or there is an apprehension of such inability or if the Borrower has admitted such inability in writing.
v. If the Borrower has defaulted or is likely to default in repayment or compliance with the terms of any other Loan sanctioned or availed by the Borrower from Lender or any other Person or an Event of Default being constituted in relation to any of the Borrower's credit, borrowing or any other arrangement with any Person or entity other than the Lender.
vi. If there is any commencement of a legal (including arbitration) process against the Borrower.
vii. If the Borrower shall stop payments or threatens to stops any payments to the Lender.
viii. If there exists any other circumstance which, in the sole opinion of the Lender, is prejudicial to the interest of the Lender.
ix. Change in residential status of Borrower.
i. In addition to any general lien or similar right to which the Lender may in law generally be entitled, the Lender may at its discretion use and enforce its right of set off and cross default between all the Loans Amount sanctioned to the Borrower.
ii. The Borrower's default under this Loan shall be deemed to be a default of all the other Loans availed by the Borrower, and notwithstanding anything contrary elsewhere contained in any writing or otherwise, the Lender shall regard all borrowings by the Borrower as immediately due and payable and the Lender shall be entitled to recall all the Loans granted to the Borrower.
iii. The Lender may, in its absolute discretion, and notwithstanding any direction by the Borrower to the contrary, (i) appropriate any payments made by the Borrower towards repayment of any part of the Amounts Due by the Borrower under the Loan as the Lender in its discretion thinks fit; and (ii) appropriate any payments made by the Borrower pursuant to this Contract towards any Indebtedness of the Borrower, and such appropriation shall be final and binding upon the Borrower who shall continue to remain indebted to the Lender for payment of the dues under this Contract in respect of which such sum of money were paid by the Borrower.
(a) by a notice to the Borrower, to terminate this Contract and/or declare the Amounts Due, due and payable forthwith.
(b) the Lender and/or CASHe may use Borrower's personal and public details as available on the cell phone and social network sites(including friend list, employer of borrower) and contact them directly or through agency(s) commissioned by the Lender and to publicly announce the fact about Borrower's default with Borrower's details on its Website as well as Borrower's social media pages, other social media platforms and other avenues. Borrower expressly grants his irrevocable and unequivocal consent to such publishing of fact of default by Borrower on his social networking pages and other media and further acknowledges and confirms that the same will not be construed as a 'defamation' and hereby expressly indemnifies Lender against any suits, claims or actions against lender for defamation of Borrower.
(c) exercise and enforce all rights and remedies available to the Lender under this Contract and in Applicable Law for recovery of monies from Borrower.
(d) appoint/nominate any Agency, law firm or person to legitimately recover default amount from the Borrower.
11.3 All expenses incurred by the Lender after an Event of Default has occurred including in connection with collection of Amounts Due shall be payable by the Borrower.
11.4 Notwithstanding any suspension or termination of this Contract as specified hereinabove, all the provisions of this contract for the benefit or protection of the Lender and its interests shall continue to be in full force and effect as specifically provided in this Contract.
12.1 The Parties are deemed to have entered into this binding Contract with effect from date of acceptance by Borrower of these T&C clicking "ACCEPT" button ("Effective Date"). These T&C shall continue to subsist until expiry or terminated as hereinafter provided.
12.2 The Lender may in its sole discretion, with or without cause, terminate this Contract at any time by giving the Borrower a notice.
12.3 The Lender has the right to terminate the Borrower's registration immediately and without notice upon the Lender's reasonable determination that the Borrower has committed a fraud or made a material misrepresentation in connection with a Loan, or performed any prohibited activity, or otherwise failed to abide by the T&C herein or the Policies.
12.4 On termination of this Contract, the entire Amounts Due shall be forthwith repayable by Borrower to Lender. It is hereby expressly clarified that notwithstanding the termination of this Contract or the recall of the Loan Amount or Amounts Due, all of Borrower's obligations pursuant hereto which have accrued prior to the termination, shall be duly performed and all the obligations of the Borrower shall remain enforceable until the due repayment of the Amounts Due.
13.1 Lender may be required to take any action to meet Compliance Obligations relating to or in connection with the detection, investigation and prevention of financial crime ("Financial Crime Risk Management Activity") and act in accordance with the Applicable Laws, regulations and requests of public and regulatory authorities operating in various jurisdictions which relate to Financial Crime. Lender may take any action which it, in its sole and absolute discretion, considers appropriate to take in accordance with all such Applicable Laws, regulations and requests.
13.2 Such action may include but is not limited to (a) screening, intercepting and investigating any instruction, communication, drawdown request, disbursement, application for services, or any payment sent to or by you, or on your behalf, (b) investigating the source of or intended recipient of funds (c) combining Borrower Account Information with other related information in the possession of the Lender, and/or (d) making further enquiries as to the status of a Person, whether they are subject to a sanctions regime, or confirming your status (e) share information on a confidential basis with such affiliates whether located in India or overseas in relation to prevention of Financial Crime.
13.3 Exceptionally, Financial Crime Risk Management Activity may lead to Lender delaying, blocking or refusing the making or clearing of any payment, the processing of borrowers instructions or application for services or the provision of all or part of the services. To the extent permissible by Applicable Law, Lender shall not be liable to borrower or any third party in respect of any loss (whether direct or consequential and including, without limitation, loss of profit or interest, however it arose) that was suffered or incurred by you or a third party, caused in whole or in part in connection with the undertaking of Financial Crime Risk Management Activity.
13.4 In certain circumstances, the action which Lender may take may prevent or cause a delay in the processing of certain information. Therefore, neither Lender nor any of its affiliate warrants that any information on Lender's systems relating to any payment messages or other information and communications which are the subject of any action taken pursuant to this clause is accurate, current or up-to-date at the time it is accessed, whilst such action is being taken.
i. “Compliance Obligations” means obligations of the Lender to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.
ii. “Financial Crime” includes money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, evasion of economic or trade sanctions, and/or any acts or attempts to circumvent or violate any laws relating to these matters.
14.1 The Borrower hereby agrees, permits and consents with the Lender that uploading of details and documents on the Website or providing the same through internet / email to the email address provided by the Borrower at the time of account opening or subsequently modified by way of a written communication. For the sake of clarity all of the above documents are referred to as 'Digital Documents'. The Borrower acknowledges that once Digital Documents are uploaded/mailed by the Lender at Borrower's email address registered with it, it shall be deemed to have been received by the Borrower and hence there will be no further requirement on the part of the Lender to send the same physically in the paper based format to the Borrower. The Borrower hereby acknowledges that he has read and understood the following points governing issuance of the Digital Document by the Lender.
i. For the purpose of the above, the email address used would be the same as provided by the Borrower at the time of Account opening. Any change in the email address of the Borrower shall be immediately intimated by the Borrower to the Lender by editing the profile information of the Borrower through the Website.
ii. The Borrower shall access the digital documents electronically. The Borrower understands that it is his responsibility to review all such digital documents. All information contained therein shall be binding on the Borrower, if the Borrower does not object, either in writing or via electronic mail within 24 hours after any such documents are available to the Borrower.
iii. The Borrower agrees that, the Lender fulfils its legal obligation to deliver to the Borrower any such document if sent via electronic delivery.
iv. The Borrower agrees that the Lender shall not be responsible for non-receipt of Document(s) sent via electronic delivery due to change in/incorrect email address provided by the Borrower for the purpose or for any other reason which inter alia include insufficient space in the inbox of the Borrower, technical reasons or malfunction of the Borrower/'s computer system(s) server/internet connection etc. It shall be the responsibility of the Borrower to intimate the Lender of any change in the Borrower's e-mail account(s).
v. The Lender shall not be liable or responsible for any document or statement received from frauds or impostors or any consequences thereof.
vi. The Lender shall not be liable for any problem, which arises at the Borrower's computer network because of the Borrowers receiving any such statement from the Lender.
vii. The Borrowers understands and agrees that the Lender shall be entitled to charge to the Borrowers fees / charges for sending such Documents. Such fees and charges shall be intimated to the Borrower from time to time by the Lender.
viii. The Borrower acknowledges and accepts that the internet is not a fully secured or a protected medium of communication and provision of services due to the public nature of the communication and that the accuracy, reliability and soundness of such means of communication and provision of services depends upon, amongst others, the service providers and the telephone, modem, cables, systems, facilities and the like used and operated from time to time by such providers and other participants. Borrower acknowledges and further accepts that, as a result of such restraints or limitations, there are risks associated in using such means of communication including the congestion, breakdown, interruption or failure of transmission of the internet service or any communication equipment or facilities, errors, omissions or delays in the transmission and receipt of data and information. There are also other risks involved such as in the unauthorised access, tampering, modification or alteration of the service and/or the system, components and software used or comprised in the service which may result in the use, manipulation, retrieval or the theft or loss of data and information, including Borrower's personal data. The Borrower agrees that the Lender shall not be liable / responsible for such matters and resultant losses under any circumstances.
Or send a message by ﬁlling the form from ‘Contact US’ window available on the CASHe Website.
15.1 The Lender may, at any time and from time to time, without any consent of or reference to the Borrower, grant, sell, securitize, assign or transfer to any bank, financial institution or other Person(s), for any purpose whatsoever, any or all of its rights, benefits and/or obligations hereunder, the loan documents, Contract including the right to receive the Loan Amounts and Amounts Due or any part thereof and, in particular, may grant / transfer such rights by way of a sale or as a charge or other security or for obtaining risk or financial participation in the Loan and, in such case, the same shall be binding on the Borrower, any Person to whom such rights are granted, transferred or assigned shall be entitled to the full benefit of such rights and all the terms, conditions, representations, warranties and covenants contained herein on the part of the Borrower shall be valid, binding and in full force and effect in favour of such transferees, assignees, purchasers or participants in the Loan.
ii. The exercise of any of the Lender's rights under this clause.
16.1 The Borrower hereby irrevocably agrees and consents to the Lender and/or CASHe disclosing to or publishing with any agencies, bureaus, companies, firms, associations, corporate or unincorporated bodies and other Persons including any outside agencies and credit bureaus (whether for its own use or for onward communication or disclosure by them to others) including but not limited to Credit Information Bureau Limited ("CIBIL") or any other agency authorized by Reserve Bank of India ("RBI") in this behalf, any information or details whatsoever concerning the Borrower including the Borrower's accounts, the financial relationship of the Borrower and history with the Lender, the manner of operation of the Borrower's account(s), the debit or credit balance in any and all accounts of the Borrowers, any default(s) by the Borrower, or any other financial relationship or Loans granted or to be granted to the Borrower and/or the identities, ages, addresses, telephone and fax numbers and other information of or relating to the Borrower (hereinafter collectively referred to as 'the Information'). The Borrower shall not hold the Lender and/or CASHe responsible for sharing and/or disclosing the Information now or in the future and also for any consequences suffered by the Borrower and/or others by reason thereof. The provisions of this clause shall survive even after the term/termination of this Contract and the repayment of the Loan Amount by the Borrower.
16.2 The Borrower undertakes that CIBIL or any other agency so authorized may use/process the said information and data disclosed by the Lender and/or CASHe in the manner as may be deemed fit by them. CIBIL or any other agency so authorized may furnish for consideration the processed information, data and products thereof prepared by them to banks, Financial Institutions ("FIs") or other credit granters or registered users as may be specified by RBI in this behalf.
17.1 This Contract shall be governed by and construed in accordance with the laws of India.
17.2 Unless the same falls within the jurisdiction of the Debts Recovery Tribunal established under the Recovery of Debts to Banks and Financial Institutions Act, 1993, any and all claims and disputes arising out of or in connection with this Contract or its performance shall be settled by arbitration by a single arbitrator appointed by the Lender. The seat of arbitration shall be in Mumbai.
17.3 Nothing contained herein shall be construed as extinguishing, limiting or ousting the jurisdiction of the concerned Debt Recovery Tribunal, if any, available to the Lender.
17.4 For the exclusive benefit of the Lender, the Borrower irrevocably agrees that any legal action, suit or proceeding arising out of or relating to or pursuant to the Loan or other ancillary or related documents may be brought in the courts of Mumbai. By accepting these T&C and Policies, the Borrower irrevocably submits to the jurisdiction of the Courts of Mumbai in any such action, suit or proceeding. Final judgement against the Borrower in any such action, suit or proceeding shall be conclusive and may be enforced in any other jurisdiction, by suit on the judgment, a certified or exemplified copy of which shall be conclusive evidence of the judgment, or in any other manner provided by Applicable Law.
17.5 Nothing contained herein shall affect the right of Lender to commence legal proceedings or otherwise sue the Borrower in any other appropriate jurisdiction, or concurrently in more than one jurisdiction, or to serve process, pleadings and other papers upon the Borrower in any manner authorized by the Applicable Laws of any such jurisdiction.
i. The Borrower hereby indemnifies and agrees to keep the Lender indemnified against all costs, charges, expenses, penalties, claims, demands and damages including legal charges that the Lender may incur or be put to by reason of any third party claiming any right, title or interest in the Loan or any other breach of this Contract or any breach of warranty or misrepresentation by the Borrower.
ii. Nothing in this Contract shall be construed as limiting, restricting, making void or otherwise negating any right of set off in favour of the Lender existing or arising in common law, by statute or otherwise howsoever.
18.3 Severability: If any provision of these T&C or the Policies are held to be invalid, illegal or unenforceable for any reason by any court of competent jurisdiction, such provision shall be severed and the remainder of the provisions of such T&C or relevant Policies, as the case may be, shall continue in full force and effect as if the Contract between the Parties had been entered into without the invalid, illegal or unenforceable provisions.
18.4 Waiver: The waiver by either Party of a breach of a default by the other Party of any provision relating to these T&C or any Policies shall not be construed as a waiver of any succeeding breach of the same or any other provision, nor shall any delay or omission on the part of either Party to exercise or avail itself of any right, power, or privilege that it has, or may have thereunder, operate as a waiver of any right, power, or privilege by such Party.
18.5 Amendment and Modification: The Lender may amend the T&C and notify the same to the Borrower and such amended T&C will thereupon apply to the Borrower. Lender may amend any Policies and upload the same on the Website and thereupon such amended Policies shall apply to any agreement or understanding between the Borrower and Lender.
18.6 No Assignment: These T&C shall inure to the benefit of and be binding upon the respective heirs, successors and assigns of the Parties hereto. Borrower shall not assign, delegate or otherwise transfer all or any part of his rights or obligations under this Contract without the prior written consent of the Lender and any purported assignment made in violation of these T&C shall be void. Lender may at any time assign all or any part of its rights, obligations and benefits hereunder to any of its subsidiaries or affiliates or transfer or novate all or any part of its rights, benefits and obligations hereunder, to any third party including any bank, financial institution or institutional lender.
18.7 Interpretation: Clause, headings are inserted for convenience of reference only and shall not be deemed to affect the interpretation of these T&C. Words importing the plural shall, except where the context otherwise requires, include the singular and vice versa.
18.8 Disclaimer of Agency: These T&C shall not be deemed to constitute any Party hereto as the agent of any other Party hereto. Nothing contained in these T&C or Policies and no action taken by the Parties hereunder shall be deemed to constitute a relationship of employer-employee or agency or of partnership between the Parties.
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.
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.
The amount which the Committee can lend should not exceed INR 200000 in aggregate for a single Borrower.
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.
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).
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.
These are the charges for 180 day loan product.
Rs 1750 for loan ranging from 1,01,000 to 1,49,000.
Rs 2250 for loan ranging from 1,50,000 to 2,00,000.
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.
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.
Liquidity Risk:The Company shall always maintain a healthy liquidity to meet the demand in the Market. The Assets and Liabilities should be matched with their maturities. The timely payment of Principal and interest by the borrower keep the liquidity level at an optimum level to meet the Company’s obligations towards its lenders. As the Credit is created on multiple credit creation concepts, a proper Repayment Schedule should be prescribed to the borrower and a policy is drawn to take care of collection process.
Interest Risk:The interest rates are subject to change depending upon the Monetary Policies adopted by the Regulators from time to time in the market and the Company is exposed to the Risk of Interest Rate. To mitigate this Risk the Company has adopted a separate Interest Rate Policy that takes care of the Risk. It is the endeavour of the Company to maximize the Interest Income as the major Loan Portfolio is managed on interest spread between Assets and Liabilities. Timely collection of Interest on due dates also will minimize the risk.
Market Risk:The Company is exposed to Market Risks like Price changes, Geographical changes, changes in Acts, Rules and Regulations. To hedge these Risks the Company has formed Loan, Risk Management and Investment Committees. These committees oversee controls and follow up the entire process of Loan Sanction, Security/Safety measures, Margin setting, Exposure Limits, Collection Process and Risk Management activities.
The amount which the Committee can lend should not exceed the following limits.
The loans to be offered by the Company are for a period as may be required by the borrower and subject to the nature of each specific loan product of Lending NBFCs. However, it should not be more than 60 months.
Foreclosure of Loan account: The borrower shall be entitled to foreclose the loan account provided the prior approval of the Lending NBFC’s Management is obtained. In such case the Company may charge foreclosure charges as may be negotiated with the borrower. For specific loan products such as the CASHe/Social Loan, Company may permit foreclosure without the requirement of prior approval of Lending NBFC’s Management.
Prepayment of Loan Amount: The borrower shall be entitled to prepay any amount exceeding his periodic repayment instalments. In such case the Company may charge prepayment charges as may be negotiated with the borrower.
The loan may be sanctioned to a single borrower in one or more tranches. However, the total exposure should not exceed the limits specified in the policy unless approved by the Board.
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.
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.
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.
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”).
i) Reporting to FIU – India.
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.
(vii) any agency, office or branch owned or controlled by any one of the above persons (i to vi).
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.
f) Person with moderate SLQ i.e. SLQ Grade B.
i) Person not providing employer contact details.
g) Person with high SLQ i.e SLQ Grade A.
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.
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.
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.
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.
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.
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.
d) the parties to the transaction.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
4. Utility Bill- Electric/landline phone bill/Mahanagar Gas Bill of current address (not more than 2 months old).
5. Photograph in jpg format.
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.
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.
Person having very Low Social Loan Quotient (SLQ) i.e. SLQ Grade C.
Person with moderate SLQ i.e. SLQ Grade B.
Person with contact details of less than 1 (one) year old.
Person having own accommodation as residential address for over 5 years.
Utility Bill- Electric/landline phone bill/ Gas Bill of current address (not more than 2 months old).
Leave and License Agreement/Rent Agreement.
Salary slip (if it contains the current office address of the Borrower).
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.
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.
Similarly AADHAR & Voters ID shall be verified through Independent Agency.
Utility Bills and Passport will be used to verify address with each other.
Customer will electronically upload his selfie on the CASHe app.
c) Accounts opened with names very close to other established business entities.
a) Unexplained transfers between multiple accounts with no rationale.
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.
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.
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.
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?
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.
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.
d. Providing targeted advertisements to you.
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 support@cashe.co.in or choosing “unsubscribe” option.
Our App complies fully with all the applicable and relevant laws of India.
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: support@cashe.co.in. 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.
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.
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.
a) To conduct business in accordance with prevailing statutory, regulatory and corporate governance principles.
b) To increase fairness, transparency and consistency in dealings with its customers/borrowers.
c) To provide customers/borrowers with key terms and conditions of facility provided for their consideration prior to commitment of a transaction.
d) To promote fair and cordial relationship between the Bhanix and its customers/borrowers.
a) All communications will be made in a language understood by the customers /borrowers or in a vernacular language, wherever required.
b) The loan application forms shall include necessary information which affects the interest of the customers/borrowers, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the customers /borrowers.
c) The loan application forms will provide an indicative list of KYC documents and other documents to be submitted, together with the duly completed application form. If any additional details/documents are required, the same shall be intimated to the customers/ borrowers. The need for such information and documents shall be explained to the customers/borrower and reasonable time shall be provided for submission of the same.
d) An acknowledgement shall be provided for all loan applications received. The Bhanix will indicate the approximate time frame within which the loan application will be processed post the submission of completed loan application form and will be informed about the status of their loan application within the time period not exceeding 21 days.
e) In case of receipt of request from the borrower for transfer of borrowal account, the consent or otherwise i.e. objection of the Company, if any, should be conveyed within 21 days from the date of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with law.
f) The employees/recovery agent(s) of BHANIX, who are responsible for recovery are properly trained, experienced to handle their responsibilities with care and sensitivity and have been advised not to exceed their brief. BHANIX’s terms and conditions policy is built in courtesy, fair treatment and persuasion & further elaborate on process & steps of recovery. BHANIX believe in fostering customer confidence and long-term relationship.
At the time of recovery of loan, the Company should not resort to undue harassment viz; persistently bothering the borrower at odd hours, use muscle power for recovery of loan, etc.
a) The loan applications shall be subject to Bhanix’s credit appraisal process and a due diligence on the creditworthiness of the customers/borrowers which will form an important parameter for taking a decision on loan application.
b) Bhanix shall convey in writing to the customers/borrowers by means of sanction letter in the language understood by the customers/borrowers or in vernacular language, if required, the amount of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof. In case of specific app based/paperless loans provided by Bhanix, Bhanix shall convey the details of the amount sanctioned either through email or sms to the registered email/mobile phone number of the Borrower.
c) Bhanix shall keep on its record the acceptance by the customers/borrowers on the sanction letter. In case of app based/paperless loans, request by Borrower to disburse the sanctioned loan amount or part thereof shall be deemed to be acceptance by Borrower of the loan and loan terms.
d) At the time of sanction/disbursement of loans, Bhanix shall furnish to all customers/borrowers a copy of the loan agreement along with a copy of all enclosures quoted in the loan agreement, preferably in vernacular language or in the language as understood by the customers/borrowers, which will contain the terms and conditions, the rate of interest, additional/penal interest for late payment in bold that shall be annexed to the loan agreement.
e) The Bhanix shall have a built in repossession clause in the contract/loan agreement so as to have legal enforceability.
a) Bhanix shall frame internal principles and procedures for determining and ensuring that the interest rates and processing and other charges are not excessive.
b) The disbursement will be done upon compliance of all the terms and conditions of the sanction by the customers/borrowers.
c) Bhanix shall give notice to the customers/borrowers in vernacular language or in the language understood by the customers/borrowers of any changes to the terms and conditions, including disbursement schedule, interest rates, service charges, prepayment charges, etc.
d) Changes in the interest rates and other charges shall be effected prospectively other than under circumstances arising from regulatory instructions. Retrospective changes shall as far as possible be avoided and shall be implemented only within the framework defined in the loan agreements.
e) Decision to recall / accelerate payment or performance under the agreement shall be in consonance with the loan agreement.
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.
a) Bhanix shall refrain from interference in the affairs of the customers/borrowers, except for the purposes provided in the terms and conditions of the loan agreement (unless new information, not earlier disclosed by the customers/borrowers, has come to the notice of the Bhanix).
c) Bhanix may arrange for enforcing security provided by the delinquent customers/borrowers. In all such instances, CL shall ensure that the entire process of enforcing its security, valuation and realization thereof is fair and transparent.
d) Bhanix shall ensure that its employees are adequately trained to deal with customers/borrowers in an appropriate manner.
a) Bhanix shall ensure that it will not unduly charge excessive interest rates to its customers/borrowers.
b) The interest rate for its customers/borrowers would be arrived at taking into account the broad parameters such as risk profile of the customers/borrowers, interest rate trends prevailing in the money market, cost of borrowings, primary and collateral security offered by customers/borrowers structure of the deal, interest rate charged by competitors and the historical track record of the customers/borrowers with Bhanix.
c) Interest rates would be intimated to the customers/borrowers at the time of sanction/ availing of the loan.
d) Bhanix shall abide by this FPC following the spirit of the Code and applicability to its business.
e) The interest rate policy adopted by Bhanix for determining the interest rate, processing fees and other charges is published on its Website www.cashe.co.in as updated from time to time.
f) There are no foreclosure charges/pre-payment penalties will charge on floating rate term loans sanctioned to individual borrowers.
b) All grievances shall be heard and disposed off by a person at least one level higher to the person /designation against / relating to whom the grievance is made. After examining the matter, it will be our endeavor to provide the customers/borrowers with our final or other response as early as possible.
c) If the complaint/grievance/dispute is not redressed within a period of one month the customer/borrower may appeal to the officer –in –charge of the Regional Office of DNBS of Reserve Bank of India, at 3rd Floor, RBI Building,Opp. Mumbai Central Railway Station, Near Maratha Mandir,Byculla, Mumbai – 400 008.
a) In addition to any general lien or similar right to which the Lender will in law generally be entitled, the Lender will at its discretion use and enforce its right of set off and cross default between all the Loans Amount sanctioned to the Borrower.
b) The Borrower’s default under this Loan shall be deemed to be a default of all the other Loans availed by the Borrower, and not withstanding anything contrary elsewhere contained in any writing or otherwise, the Lender shall be entitled to recall all the Loans granted to the Borrower.
c) The Lender will, in its absolute discretion, and notwithstanding any direction by the Borrower to the contrary, (i) appropriate any payments made by the Borrower towards repayment of any part of the amounts due by the Borrower pursuant to this Contract towards any indebtedness of the Borrower, and such appropriation shall be final and binding upon the Borrower who shall continue to remain indebted to the Lender for payment of the dues under this Contract in respect of which such sum of money were paid by the Borrower.
d) On the happening of any of the Events of Default, the Lender shall be entitled, without prejudice to any other right or remedy which the Lender have under this Contract or otherwise in Applicable Law and notwithstanding any subsequent acceptance of any repayment of the loan amount including interest and penalty thereof, take any of the steps specified hereinbelow without any notice, except as specified herein, at any time after the occurrence of such event.
i. by a notice to the Borrower, to terminate this Contract and/or declare the Amounts Due and payable forthwith.
ii. the Lender and/or CASHe will use Borrower’s personal and public details (including friend list, employer of borrower) to publicly announce the fact about Borrower’s default with Borrower’s details on its website as well as on Borrower’s social media pages, other social media platforms and other avenues. Borrower’s expressly grant his irrevocable and unequivocal consent to such publishing of fact of default by Borrower on his social networking pages and other media and further acknowledges and confirms that the same will not be construed as a ‘defamation’ and hereby expressly indemnifies Lender against lender for defamation of Borrower.
iii. exercise and enforce all rights and remedies available to the Lender under this Contract and in Applicable Law for recovery of monies from Borrower.
iv. appoint/nominate any Agency, law firm or person to legitimately recover default amount from the Borrower.

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