Privacy Policy

Welcome to FlexiBee (referred to as the "Platform", "We", "Us", or "Our"). This Privacy Policy outlines how we collect, safeguard, utilize, and share your personal and financial information. This document is drafted in accordance with the Information Technology Act (2000), the Reserve Bank of India (RBI) Guidelines on Digital Lending (2022), and the Digital Personal Data Protection Act (DPDPA, 2023).

By downloading, installing, or registering on FlexiBee, you explicitly agree to the terms laid out in this Privacy Policy. If you do not agree with any part of this policy, please do not use our services or application.

1. Platform Nature & Operational Roles

FlexiBee operates strictly as a technology platform and a Loan Service Provider (LSP). We do not lend our own funds and are not a registered bank or Non-Banking Financial Company (NBFC). We facilitate credit products exclusively on behalf of our Regulated Entity (RE) partner:

Official Lending Partner (RE): Vaishali Securities Limited (An RBI-registered NBFC).

Division of Duties: The NBFC partner makes all final decisions regarding credit limits, loan approvals, and fund disbursements. FlexiBee is responsible for providing the customer interface, facilitating initial KYC and data collection, managing customer support, and ensuring strict adherence to data privacy laws.

User Eligibility Declaration: By accepting this policy, you declare that you are an Indian citizen residing in India, are at least 18 years of age, and are legally competent to enter into a binding contract under the Indian Contract Act, 1872.

2. Information We Collect

We strictly follow the RBI-mandated principle of Data Minimization, ensuring we only collect information absolutely necessary for loan processing and risk assessment.

2.1. User-Submitted Information (Profile & KYC) To establish your identity and evaluate your credit profile, we collect:

Demographic Details: Full Name, Date of Birth, Gender, and Marital Status.

Contact Information: Current residential address, active mobile number, and email ID.

Regulatory Documents: Aadhaar Number and PAN Card details (for mandatory KYC compliance).

Financial Details: Bank account number and IFSC code (for loan disbursement and repayment setup).

2.2. Automatically Tracked Information (Device & Technical Data) To secure your account and prevent fraudulent activities, we securely capture:

Device Specs: Hardware model, operating system version, screen resolution, and unique device identifiers (e.g., IMEI).

Network Information: IP address, network provider, and connection status (Wi-Fi/Cellular).

2.3. App Permissions We ask for explicit, opt-in consent before accessing specific device features. These are solely used to facilitate the loan journey:

AppList

To accurately evaluate your credit standing and prevent fraud, we need to access the list of applications installed on your device. We will use this data to analyze your financial profile and then provide you with an appropriate credit limit. Rest assured, we only collect application names and types, and all data is securely transmitted via an encrypted connection to strictly protect your privacy.

Camera

We require camera access to take clear images of your identity documents and perform a liveness check. This operation effectively safeguards your account security and avoids fraud; all captured images will be securely encrypted and used solely for the identity verification process.

Device Information

To ensure the security of your account, we will gather your device specification details, including hardware model, OS version, unique device identifier, and mobile network data. Through this information, we can verify the device identity, prevent unauthorized access and identity theft, and ensure the security of every transaction.

Location

We gather device location data to verify that you are submitting your application within a serviceable region in India and assess credit risks associated with location discrepancies. During the application process, we only access coarse location data and do not collect precise positioning information.

Microphone

We request microphone access to enable voice-based inputs for quicker navigation or to facilitate KYC processes if required. This permission is optional, and audio will not be recorded without your active operation.

3. How We Utilize Your Data

Your data is processed strictly for lawful purposes and to provide you with seamless financial services:

Facilitating Credit: To process your loan application and share necessary details with our Partner NBFC for sanctioning.

Credit & Risk Assessment: To verify your financial standing and repayment capacity via authorized credit bureaus.

Legal & Regulatory Compliance: To fulfill mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements as stipulated by the RBI.

Service Communication: To dispatch OTPs, payment reminders, loan agreements, and important policy updates.

Fraud Prevention: To detect suspicious behaviors, prevent identity theft, and protect platform integrity.

4. Data Sharing & Third-Party Disclosures

We treat your personal data with the utmost confidentiality. Data is only shared under the following conditions:

With Our Lending Partner (NBFC): As an LSP, we are legally required to transmit your complete KYC, financial, and application data to Vaishali Securities Limited for underwriting and loan execution.

Authorized Service Providers: We may share restricted data with secure third-party vendors handling SMS delivery, e-signing (Aadhaar eSign), and secure payment gateways. These partners are bound by strict Non-Disclosure Agreements (NDAs).

Law Enforcement & Legal Directives: We will disclose your information to government bodies, regulators (like the RBI), or courts if legally compelled to do so.

Corporate Restructuring: In the event of a merger, acquisition, or corporate sale, user data may be transferred as a business asset to the new entity.

5. Data Storage, Security, and Localization

Indian Servers (Data Localization): In strict adherence to RBI’s Digital Lending norms, all user data (personal, financial, and technical) is stored on highly secure cloud servers physically located within the borders of India.

Data Security measures: We utilize industry-standard SSL/TLS encryption for data transmission. Internally, we enforce strict role-based access controls and conduct periodic vulnerability assessments.

Data Retention: We hold your data only for the lifespan of your active services or as required by Indian law (such as the PMLA, which dictates retention periods for financial transaction records). Once the legal retention period expires, your data is permanently and securely purged.

6. User Rights & Consent Management

Right to Revoke Consent: You possess the right to withdraw your consent for data access/processing at any time. Please note: If you have an outstanding loan balance, Indian regulations require us and our NBFC partner to retain your data until the debt is fully settled.

Right to Rectification: You can request updates or corrections to any inaccurate personal information on your profile.

Right to Deletion: Upon full repayment of your loan, you may request account deletion, subject to regulatory retention mandates.

7. Grievance Redressal Mechanism

We have established a dedicated grievance redressal system to resolve your privacy and loan-related concerns promptly.

For Platform & Data Privacy Queries (FlexiBee LSP):

Email: legal@flexifintechltd.com

Phone Number: +91 9992936876

Registered Address: Cm Madan D-1/64, Block-d-1,Aruna Park,Shakarpur, East Delhi

For Loan, Repayment, & Credit Queries (Partner NBFC):

NBFC Name: Vaishali Securities Limited

Email: contact@vaishalisecuritiesltd.com

Phone Number: +91 7969654623

Address: D- 504, Swati Crimson Daskroi, Shilaj Thaltej Ahmedabad Gujarat 380059

8. Policy Updates

We may periodically update this Privacy Policy to reflect changes in legal frameworks, RBI guidelines, or our internal processes. The updated version will be effective immediately upon publishing within the App. Your continued use of the platform indicates your acknowledgment and acceptance of the revised terms.