Paisaflow BusinessTerms for the use of your data
Consent Terms
How consent works on this platform
We do not ask for one blanket permission. Each data source or action has its own consent, shown at the moment it is needed, in plain language, with the version of the text you accepted. This follows the DPDP Act (consent must be free, specific, informed, unconditional and unambiguous) and the RBI Guidelines on Digital Lending (explicit, purpose-specific consent for each data access).
- Granular — declining one consent affects only what depends on it; the app tells you what that is.
- Recorded — every consent is stored with its text version, a hash of the text, timestamp, IP address, device identifier and channel, and is visible to you in the app under Dashboard → Consents.
- Revocable — you can withdraw any consent with the effects listed for it below. Withdrawal is as easy as giving: one request in the app or one email.
- Bound to a version — if the wording changes, you are asked again; earlier consents stay tied to the earlier text.
- Personal — a co-borrower, partner, director, beneficial owner or signatory gives their own consent by OTP on their own mobile. You cannot consent for them.
Consents at a glance
| Consent | Wording shown in the app | When it is asked |
|---|---|---|
| Privacy notice v1.2 | I have read the privacy notice. EcoPlanet (LSP) and the lender will collect only the data needed to assess and service this facility. | Start of the application, before OTP |
| Communication consent v1.0 | EcoPlanet and the lender may contact me on this number and email about this application and facility, within 8 am – 7 pm. | Start of the application |
| KYC and DigiLocker share (including selfie) DigiLocker consent screen + selfie screen | You authorise DigiLocker to share the Aadhaar and PAN documents you select, and authorise a live selfie to be matched against the Aadhaar photograph for liveness and identity. | KYC step |
| Credit bureau consent v1.1 | I authorise the lender / EcoPlanet to fetch my credit information report from a credit bureau for this application. | Additional-information step, before the bureau pull |
| GST / Udyam data consent v1.0 | I authorise verification of my GSTIN / Udyam registration and filing status with the government portals. | Business-profile step |
| Bank statement / Account Aggregator consent v1.0 | I consent to sharing my bank statements through the selected channel for cash-flow assessment. Statements are retained only as long as required. | Bank-statement step; with the Account Aggregator a separate consent artefact (purpose, period, frequency, expiry) is recorded by the AA |
| Key Fact Statement receipt v1.0 | I have received and read the Key Fact Statement, including APR, all charges, the repayment schedule and cooling-off terms. | Offer step, before e-sign |
| Loan agreement & declarations v1.0 | I accept the loan agreement and confirm the declarations on end use, existing obligations, beneficial ownership and accuracy of information. | E-sign step, with Aadhaar OTP e-sign |
| Repayment mandate consent v1.0 | I authorise the registration of a repayment mandate on my verified bank account for the instalment amount and schedule in the KFS. | Mandate step, then authorised with your bank / UPI app |
Each consent in detail
Privacy notice v1.2
Wording shown: “I have read the privacy notice. EcoPlanet (LSP) and the lender will collect only the data needed to assess and service this facility.”
When: Start of the application, before OTP
Required? Required. Without it no data is collected and the application cannot start.
If withdrawn: Application cannot continue; data already collected is handled under the retention table.
Communication consent v1.0
Wording shown: “EcoPlanet and the lender may contact me on this number and email about this application and facility, within 8 am – 7 pm.”
When: Start of the application
Required? Optional for promotional messages. Service messages about your own application and loan are sent regardless, as they are needed to perform the contract.
If withdrawn: Promotional messages stop within 7 days. Service messages continue.
KYC and DigiLocker share (including selfie) DigiLocker consent screen + selfie screen
Wording shown: “You authorise DigiLocker to share the Aadhaar and PAN documents you select, and authorise a live selfie to be matched against the Aadhaar photograph for liveness and identity.”
When: KYC step
Required? Required by the KYC Master Direction. You choose in DigiLocker which documents to share; PAN may instead be verified directly.
If withdrawn: Application cannot continue. KYC records already fetched are retained for the statutory period even if the application lapses.
Credit bureau consent v1.1
Wording shown: “I authorise the lender / EcoPlanet to fetch my credit information report from a credit bureau for this application.”
When: Additional-information step, before the bureau pull
Required? Required for a credit decision. One pull per application; a renewal needs a fresh consent.
If withdrawn: No new pull is made. A report already fetched stays with the credit file.
GST / Udyam data consent v1.0
Wording shown: “I authorise verification of my GSTIN / Udyam registration and filing status with the government portals.”
When: Business-profile step
Required? Required for registered businesses; you may provide either GSTIN or Udyam.
If withdrawn: Verification stops; unverified business details cannot be used for a decision.
Bank statement / Account Aggregator consent v1.0
Wording shown: “I consent to sharing my bank statements through the selected channel for cash-flow assessment. Statements are retained only as long as required.”
When: Bank-statement step; with the Account Aggregator a separate consent artefact (purpose, period, frequency, expiry) is recorded by the AA
Required? Required. You choose the channel: Account Aggregator (recommended), net banking or PDF upload. The AA consent is one-time fetch for the stated period and can be revoked in your AA app.
If withdrawn: No further fetch. Statements already analysed are handled under the retention table.
Key Fact Statement receipt v1.0
Wording shown: “I have received and read the Key Fact Statement, including APR, all charges, the repayment schedule and cooling-off terms.”
When: Offer step, before e-sign
Required? Required before the agreement can be signed. The KFS is emailed and shown in-app; you may take as long as you need.
If withdrawn: The offer stays open until its expiry date; nothing is signed.
Loan agreement & declarations v1.0
Wording shown: “I accept the loan agreement and confirm the declarations on end use, existing obligations, beneficial ownership and accuracy of information.”
When: E-sign step, with Aadhaar OTP e-sign
Required? Required to create the loan. The four declarations are shown individually and must each be ticked.
If withdrawn: Not applicable after signing: the agreement is a contract. You may exit within the cooling-off period on the KFS terms.
Repayment mandate consent v1.0
Wording shown: “I authorise the registration of a repayment mandate on my verified bank account for the instalment amount and schedule in the KFS.”
When: Mandate step, then authorised with your bank / UPI app
Required? Required before disbursal. UPI AutoPay or eNACH; amount and dates are exactly those in the KFS and cannot be increased without a new mandate.
If withdrawn: Cancelling the mandate with your bank does not cancel the loan; instalments remain due and must be paid through the approved channels shown in the app. Tell us first so a replacement mandate or payment plan can be set up.
What is never asked for
In line with the RBI Guidelines on Digital Lending, the app never requests access to your contact list, call logs, SMS inbox, photo gallery, files or continuous location. Camera access is requested only for a document photo or selfie, and one-time location only for the geo-tagged premises photo. No consent on this platform allows automatic increases in your credit limit, sharing your data with third parties for their marketing, or fetching a new bureau report or bank statement for a future application without asking you again.
Withdrawing a consent
Withdraw in the app under Dashboard → Consents → Withdraw, or email grievance@ecoplanet.in from your registered email. We confirm by SMS within 2 working days and stop the related processing within 7 days, except where a law requires us to retain or continue (for example, KYC records, bureau reporting of a live loan, or regulatory returns). Withdrawal does not undo processing already done, and does not change your obligations under a sanctioned loan.
For the Account Aggregator, you can also revoke the consent artefact directly in your AA application; the AA notifies us and no further data is fetched.
Your consent record
The app shows every consent you have given, with version, date, time and channel, and lets you download the record. If you believe a consent was recorded without your action, raise a grievance immediately; we treat it as a potential security incident and investigate the session log.
Contact
Grievance Redressal Officer (also the contact for data-protection requests), EcoPlanet Fintech Pvt Ltd
grievance@ecoplanet.in · +91 80 4000 0000 · Mon–Sat, 9 am – 6 pm
Lender Nodal Officer, Partner NBFC (to be named by the lender)
nodal@partner-nbfc.in · +91 22 4000 0000
Postal address: EcoPlanet Fintech Pvt Ltd, [registered office address], Bengaluru, Karnataka, India.