Terms & Conditions
Last Updated: 21 November 2024
BFD Innovations Private Limited (CIN: U70200DL2024PTC434732): BFD Innovations Private Limited ("the Company"), a digital-first fintech entity, specializes in listing financial products through its technology platform. As a Sub-Agent of a Business Correspondent, the Company facilitates the distribution of Fixed Deposits to retail customers, while also providing advanced technology solutions for various financial products.
BharatFD
"BharatFD" refers to the platform (both the website and the mobile application) owned and operated by BFD Innovations Private Limited. The Company utilizes this platform to list and offer various financial products, including Fixed Deposits, Loans against Fixed Deposits, and other related services.
Terms and Conditions of Use
These terms and conditions ("Terms") govern the use of offerings provided by BFD Innovations Private Limited ("the Company") via the BharatFD platform (the "Platform"), which includes the BharatFD website (bharatfd.com) and the mobile application. By accessing or using the Platform, You ("The User") agree to comply with these Terms. Please read them carefully before accepting. By accepting these Terms, You confirm that You have read, understood, and agreed to be bound by them. If You do not agree to these Terms, You must not access or use the Platform.
The Platform provides technology solutions for accessing various financial products and alternative investment opportunities, and facilitates the comparison, selection, and investment in such products, including but not limited to finance and Fixed Deposits.
The Platform provides technology solutions for accessing various financial products and alternative investment opportunities, and facilitates the comparison, selection, and investment in such products, including but not limited to finance and Fixed Deposits.
The Company reserves the right to modify, update, or amend these Terms from time to time. You are advised to review these Terms periodically to stay informed of any changes.
Applicable Laws and Regulatory Compliance
All offerings on the Platform are governed by applicable laws, including but not limited to notifications, rules, regulations, and guidelines issued by the Reserve Bank of India ("RBI"), the Securities and Exchange Board of India ("SEBI"), and other relevant regulatory bodies.
Definitions
1. "BFD Innovations Private Limited" or "the Company"
Refers to BFD Innovations Private Limited, a company incorporated under the provisions of the Companies Act, 2013, bearing Corporate Identification Number (CIN: U70200DL2024PTC434732), with its registered office at Plot No-11, DDA Site No-1, (Basement), Shankar Road, Rajender Nagar, Central Delhi, New Delhi, Delhi, India, 110060. The Company is a digital-first fintech entity facilitating the listing and distribution of financial products through its proprietary technology platform.
2. "BharatFD"
Refers to the proprietary platform owned and operated by the Company, comprising its website (bharatfd.com) and mobile application, designed to enable Users to compare, access, and invest in various financial products, including Fixed Deposits and Loans against Fixed Deposits.
3. "Platform"
Collectively refers to the BharatFD website and mobile application, owned and operated by the Company, providing Users with access to financial products and technology solutions for alternative investment opportunities.
4. "User," "You," or "Your"
Refers to any individual, being a natural person, who has successfully registered on the Platform and intends to use the services or offerings available on the Platform, subject to the acceptance of these Terms.
5. "Offerings"
Refers to the financial products and services made available by the Company on the Platform, including but not limited to Fixed Deposits, Loans against Fixed Deposits, and other alternative investment opportunities.
6. "Fixed Deposit"
Denotes a financial instrument listed on the Platform, where an investment is made by the User for a predetermined term at a fixed interest rate, subject to the terms and conditions of the respective issuer.
7. "Loan Against Fixed Deposit"
Refers to a credit facility facilitated through the Platform, wherein Users may borrow funds by pledging their Fixed Deposit holdings as collateral, subject to applicable terms and conditions.
8. "Sub-Agent of Business Correspondent"
Refers to the Company’s role in acting as a Sub-Agent under applicable laws and regulations to facilitate the distribution of Fixed Deposits and related services to retail customers.
9. "Applicable Laws"
Refers to all applicable statutes, rules, regulations, guidelines, circulars, notifications, and directives issued by competent statutory or regulatory authorities, including but not limited to the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), governing the Company, the Platform, and the Offerings.
10. "Electronic Record"
Denotes this document, which constitutes an electronic contract as defined under the provisions of the Information Technology Act, 2000, and the rules framed thereunder. This document is generated electronically and does not require any physical, electronic, or digital signature.
11. "We," "Us," "Our," or "the Company"
Refers to BFD Innovations Private Limited, including its subsidiaries, affiliates, and associates, as applicable.
12. "Regulatory Bodies"
Refers to competent authorities including but not limited to the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), responsible for issuing rules, regulations, and guidelines governing the financial products and services listed on the Platform.
13. "Terms"
Refers to these Terms and Conditions of Use, including any amendments, modifications, or updates made by the Company from time to time, which govern the use and access to the Platform and its Offerings.
14. "Alternative Investment Opportunities"
Refers to non-conventional investment products made available through the Platform, excluding traditional financial instruments, subject to applicable regulatory and legal provisions.
15. "KYC (Know Your Customer)"
Refers to the mandatory process of verifying the identity of Users as prescribed under Applicable Laws to establish their eligibility to access and use the Platform.
16. "Technology Solutions"
Refers to the proprietary digital tools, algorithms, and functionalities provided by the Company to facilitate seamless access, comparison, and investment in financial products listed on the Platform.
17. "Force Majeure"
Refers to any event or circumstance beyond the reasonable control of the Company, including but not limited to acts of God, government actions, war, civil unrest, natural disasters, technical failures, or any other event rendering the performance of obligations under these Terms impossible or impractical.
This document is an electronic record created under the provisions of the Information Technology Act, 2000 ("IT Act"), as amended, and is in compliance with the applicable rules related to electronic contracts and records. This electronic record is generated by a computer system and does not require any physical, digital, or electronic signatures. By accessing the Platform, You agree to the terms and conditions set forth in this electronic contract.
1. Acceptance of the Terms and Conditions
a. By accessing or using the Platform, the User acknowledges and agrees to be bound by these Terms, the Privacy Policy, and the Disclaimer Document. If the User does not accept these documents, the User is not authorized to use the Platform.
b. To use the Platform, the User agrees to:
Provide true, accurate, current, and complete information as prompted; and
Maintain and promptly update the User’s information to ensure it remains true, accurate, current, and complete.
c. If the information provided is found to be false, inaccurate, outdated, or incomplete, or if there is reasonable suspicion of the same, we reserve the right to suspend, terminate, or restrict the User’s access to the Platform without prior notice. The Company is not liable for any consequences arising from erroneous information provided by the User.
d. The User’s information, including username, name, email address, and contact details, will be stored in our database. Based on this information, the User will receive login credentials for the User’s designated account. The User is responsible for all activities carried out through the User’s account and must notify us immediately in case of unauthorized access or any security breach.
e. We reserve the right to suspend or terminate the User’s account to comply with legal requirements, court orders, or regulatory directives.
f. For details on how we collect, use, and protect the User’s personal information, please refer to our Privacy Policy. In case of any breach or non-compliance by the User with the Privacy Policy, we may take necessary actions as per these Terms or applicable laws.
g. Upon the User’s acceptance of these Terms, we grant the User a limited, personal, revocable, non-transferable, non-assignable, and non-exclusive license to use the Platform solely as permitted under these Terms.
h. The Privacy Policy and Disclaimer Document are integral to these Terms and should be read together. If any provision of these Terms is deemed invalid or unenforceable, the remaining provisions shall remain in full force and effect.
2. Offerings on the Platform
a. The Company operates a digital platform, "BharatFD," accessible via the website https://www.bharatfd.com and the BharatFD mobile application, providing content and tools related to finance and fixed deposits.
b. The Platform enables Users to explore, compare, select, and monitor fixed deposit investments offered by Partner Banks and Non-Banking Financial Corporations (NBFCs).
c. Users can invest in fixed deposits through the Platform, facilitated by SDK or API integrations with third-party agents (Business Correspondents or Direct Selling Agents), Partner Banks, or NBFCs. A minimum investment of ₹5,000 is required for booking a fixed deposit.
e. Fixed deposit bookings can only be made through the Platform, with payments processed via the User’s individual bank account. Upon maturity, the principal and applicable interest will be transferred back to the same bank account. Users are advised that returns on investments are subject to market risks and should carefully review all related documents before investing.
f. It is strongly recommended that Users seek professional advice from a qualified financial advisor before making any investment decisions.
3. Registration on the Platform
a. Eligibility: To register and use the Platform, the User must be at least 18 years old, of sound mind, and legally eligible to contract. If the User are using the Platform on behalf of another individual or entity, the User must have proper authorization. While the Platform is accessible to individuals under 18, we strongly recommend that parents or guardians supervise their online activities.
b. Registration Requirements: The Platform and its offerings are available exclusively to registered Users who complete the registration process, including the Know-User’s-Customer (KYC) requirements. By registering, the User agree to provide accurate and complete information (“Registration Data”) and accept the Terms electronically. Any action that indicates User’s use of the Platform constitutes acceptance of these Terms, including any amendments made at our discretion.
c. Login Credentials: Upon successful registration, the User will receive a unique User ID and a one-time password (OTP) for authentication (collectively, “Login Credentials”). The User is solely responsible for securing User’s Login Credentials and all activities under User’s account. We will treat any action taken using User’s Login Credentials as authorized by the User. Notify us immediately in case of unauthorized access or a security breach. Accounts cannot be transferred, sold, or shared with third parties. We reserve the right to refuse service, terminate accounts, or edit content at our sole discretion.
d. Data Authorization: By using the Platform, the User authorizes BharatFD to retrieve data about User’s investments from counterparties, such as banks and NBFCs. BharatFD will use this data solely for dissemination through the Platform to facilitate User’s decision-making. This does not constitute a solicitation to buy or sell assets or securities.
e. Account Suspension or Revocation: We reserve the right to suspend or revoke User’s access to the Platform at our discretion. Should User’s account be suspended, the User may contact our support team for assistance in resolving the issue.
4. Fees
a. Currently, access to the offerings available on the Platform is provided free of charge. However, We reserve the right to introduce fees in the future. Any such changes will be communicated to the User via email at least 30 (thirty) days prior to implementation and will be posted on the Platform.
b. The User acknowledges and agree that any fees or charges imposed by the Company will be in addition to any charges levied by Partner Banks or NBFCs, as applicable. All fees, charges, and reimbursements for expenses shall be paid in full by the User, without any deduction, set-off, or withholding.
5. Privacy and Data Protection
a. We will use User’s data solely for the purpose of providing the offerings available on the Platform, in accordance with our Privacy Policy.
b. The User hereby provides User’s explicit consent to share User’s data with Us, our Affiliates, Partner Banks, NBFCs, and associated entities, to the extent necessary for the provision of the Platform's offerings, enhancement of the User experience, development of affluence scores/User insights, data analysis for introducing new offerings and features, and compliance with applicable regulatory requirements.
6. Intellectual Property Rights
a. The User acknowledges and agree that all content on the Platform, including but not limited to software, text, images, graphics, audio, video, and other materials, constitutes the exclusive property of the Company or its licensors. We, or our licensors, retain all legal rights, title, and interest, including intellectual property rights, in and to the Platform and its Offerings (the "Protected Material"), except for any third-party content.
b. The User shall not copy, modify, reproduce, republish, transmit, distribute, display, or otherwise use or appropriate any Protected Material in any form or by any means without our prior written consent. Unauthorized use of the Protected Material may constitute a violation of copyright, trademark, and other applicable laws, and may result in civil or criminal liability under such laws.
c. The User agrees not to use any trademark, service mark, trade name, logo, or other identifiers of any company or organization in a manner that could cause confusion regarding the ownership or authorized use of such marks, names, or logos, unless expressly authorized by us in writing.
d. Subject to our Privacy Policy, all information derived from the Offerings on the Platform shall be the exclusive property of the Company. We reserve the right to use such information in any manner we deem appropriate. The User further acknowledge that certain information provided through the Platform may be classified as confidential by the Company, and the User agree not to disclose any such confidential information without our prior written consent.
7. Confidentiality
a. We will maintain the confidentiality of User’s personal information in accordance with our Privacy Policy. Both We and our Affiliates recognize the importance of protecting User’s information and will exercise the same level of care to safeguard User’s information as we do with our own.
b. The User acknowledges that, to provide one or more offerings available on the Platform, We and our Affiliates may be required to share User’s information with third parties under contractual obligations. Such third parties are obligated to protect the confidentiality of User’s information and to use it solely for the purpose of providing the Offerings on the Platform, as necessary and in accordance with the agreements with Us and/or our Affiliates.
c. The User consents and agrees that We may access, retain, and disclose User’s designated account information if required to do so by law, or if We have a good faith belief that such access, retention, or disclosure is reasonably necessary to:
Enforce these Terms;
Comply with applicable legal obligations, whether domestic or international;
Protect the rights, property, or personal safety of the Platform, its Users, or the public; and/or
In accordance with the terms set forth in the Privacy Policy.
8. Modification of Terms
a. The Terms, Privacy Policy, Disclaimer Document, and any other policies may be amended or modified by us at our sole discretion, at any time, without prior notice to the User. The updated versions of these documents will be posted on the Platform. It is User’s responsibility to regularly review these documents. By continuing to access and use the Platform, the User is deemed to have acknowledged and agreed to the revised Terms, Privacy Policy, Disclaimer Document, and any other policies. Additionally, the offerings available on the Platform may be modified or discontinued at our discretion, and we are not obligated to seek User’s consent for such changes, nor shall we be liable to the User for any such modifications.
9. Termination
a. The User agree that We may, at our sole discretion, terminate, restrict, or suspend User’s access to the Platform or any part thereof, at any time and for any reason, without prior notice and without any liability, if We determine that the User have violated the terms and conditions of these Terms or any other policies. These remedies are in addition to any other legal or equitable remedies available to Us.
b. In the event of suspected illegal, fraudulent, or abusive activity, whether actual or potential, we may immediately suspend User’s designated account. Any such suspected activities may be referred to appropriate law enforcement authorities.
10. Limitation of Liability
a. The User acknowledges and agree that neither We, nor our Affiliates, Partner Banks, NBFCs, associated or affiliate entities, directors, officers, employees, consultants, representatives, agents, or partners, shall be liable to the User for any direct, indirect, incidental, special, consequential, punitive, or exemplary damages arising from User’s use of the Platform, however caused and under any theory of liability. We shall also not be liable for any damages arising from User’s inability to access the Platform, or any difficulty in accessing the Platform due to bugs, viruses, trojan horses, or similar issues transmitted through the Platform by third parties, loss of User’s data, or any claim related to User’s data.
b. The User acknowledges that third-party links on the Platform may direct the User to external sites, pages, or applications that are not owned or controlled by Us. We are not responsible for examining or evaluating the content or accuracy of these third-party sites or applications, and We do not warrant or accept any responsibility for third-party materials, websites, or applications, or for any other data, information, products, or services provided by third parties.
c. We may provide the User with access to third-party tools over which We neither monitor nor exercise control. The User acknowledges and agrees that access to these tools is provided on an "as is" and "as available" basis, without any warranties, representations, or endorsements. We shall not be liable for any issues arising from or related to User’s use of such third-party tools. Any use of optional third-party tools available on the Platform is at User’s own risk and discretion.
11. Indemnification
a. The User agrees to release, defend, indemnify, and hold harmless us, our Affiliates, associate companies, directors, officers, employees, consultants, representatives, agents, and partners from and against any and all claims, damages, obligations, losses, liabilities, costs, or expenses (including but not limited to attorneys' fees) arising from:
User’s access to and use of the Platform;
User’s breach of any provision of these Terms, the Privacy Policy, or any other applicable policies;
User’s violation of any third-party rights, including but not limited to copyright, property, or privacy rights;
Any third-party actions relating to User’s access or use of the Platform, whether authorized or unauthorized; and/or
User’s violation of any applicable laws.
12. Disclaimers / No Warranties
a. The User understands and expressly agree that User’s use of the Platform is at User’s sole risk. The Platform is provided to the User on an "as is" and "as available" basis.
b. Any material downloaded or otherwise obtained through the use of the Platform is done at User’s own discretion and risk, and the User will be solely responsible for any damage to User’s computer system or other devices, or loss of data resulting from the download of such materials.
c. We, our Affiliates, and associated companies do not represent or warrant that:
The information on the Platform is accurate, complete, or up to date;
User’s use of the Platform will meet User’s requirements;
User’s use of the Platform will be uninterrupted, timely, secure, or free from errors;
Any information obtained by the User through the Platform will be accurate or reliable; and
Any defects in the functionality or operation of the Platform will be corrected.
d. We shall not be liable for any damages arising from the use of the Platform, the offerings available on the Platform, or the contents therein, including but not limited to direct, indirect, consequential, punitive, or special damages, unless otherwise specified in writing.
e. We may provide comparisons, tools, or analyses on the Platform for informational purposes only. The output of such comparisons/tools/analyses should not be construed as investment advice under the SEBI (Investment Advisers) Regulations, 2013, nor as tax advice or a recommendation to buy, sell, or hold any securities. The information provided is on a best-effort basis and is not verified for accuracy or completeness. We, our Affiliates, and associate companies do not guarantee any specific performance or returns on investments, nor the return of principal investment. The User is advised to make independent investment decisions based on User’s own risk profile, investment objectives, and financial status. We assume no responsibility for the accuracy or completeness of such information.
f. Investments in debt securities, municipal debt securities, or securitized debt instruments carry risks, including the possibility of delayed or defaulted payments. The User should carefully review all offer-related documents before making an investment decision. We recommend obtaining professional advice regarding the legal, tax, and financial implications of any potential investment.
13. Notice / Correspondence
a. We may provide notice to the User via email, letter, telephone, or any other means deemed appropriate, to the address on record. If notice is sent by email, it will be deemed delivered. We may, at our discretion, also publish general notices that apply to the User on the Platform, in a newspaper circulating in India, or on our website. These notices will have the same effect as individual notice to the User. The User may provide notice to Us in writing, by hand, email, post, or other electronic means, at the address or email provided on the Platform.
14. Waiver
a. The failure of either party to enforce any provision of these Terms shall not be construed as a waiver of that provision or any other right under these Terms.
15. Severability
a. If any provision of these Terms is found to be void, invalid, illegal, or unenforceable, such determination shall not affect the validity, legality, or enforceability of the remaining provisions, which shall remain in full force and effect.
16. Survival
a. Notwithstanding the termination or rescission of these Terms, the provisions that, by their nature, are intended to survive such termination shall remain in full force and effect. These provisions include, but are not limited to, intellectual property rights, confidentiality, limitation of liability, indemnification, disclaimers, warranties, dispute resolution, governing law, and jurisdiction. Additionally, any provisions that are implied to survive termination, whether expressly stated or not, shall continue to bind the parties following the termination. Termination of these Terms shall not affect any causes of action that have accrued prior to the termination.
17. Entire Agreement
a. These Terms represent the complete and exclusive agreement between the User and Us with respect to the subject matter hereof and supersede all prior or contemporaneous agreements, whether written or oral, relating to the Platform. Any modifications to these Terms must be made in writing and in accordance with the procedures specified in these Terms.
b. These Terms, together with the Privacy Policy, the Disclaimers Document, and any other policies, notices, circulars, or other information published on the Platform or the Company's website, or communicated to the User by Us, constitute the entire agreement between the User and Us concerning the Platform. These documents govern User’s use of the Platform and supersede any prior agreements or understandings between the User and Us.
c. The User acknowledges that in agreeing to these Terms, the User have not relied on any representations, warranties, guarantees, collateral contracts, or other assurances except those expressly set out in these Terms or other applicable policies.
18. User Rights
a. These Terms govern User’s access to and use of the Platform, which includes all images, text, illustrations, designs, icons, photographs, programs, music clips, downloads, systems, trading methods, video clips, graphics, User interfaces, visual interfaces, data, tools, products, written materials, Offerings on the Platform, and any other content (collectively, "Content"). By using the Platform, the User is granted a limited, non-transferable, and revocable right to access and use the Platform for lawful purposes only.
b. The User agrees not to use the Platform in any fraudulent or unlawful manner. The User’s right to access the Platform is contingent upon User’s compliance with these Terms and any additional rules, policies, or conditions governing the Platform. We reserve the right to revoke User’s access to the Platform, in whole or in part, at any time and for any reason, with or without notice.
c. The Platform and its Content are intended for use solely within India and may not be used or distributed outside of India without our explicit consent.
19. Assignment or Transfer
a. The rights and obligations granted to the User under these Terms are personal and non-transferable. The User may not assign, transfer, or sublicense User’s rights under these Terms to any other individual or entity.
b. We reserve the right, at our sole discretion, to assign, transfer, or subcontract any or all of our rights or obligations under these Terms to any associated entity, subsidiary, or third party, in connection with a corporate transaction, business operation, or otherwise. We may, at our discretion, notify the User of such an assignment, and it will be binding upon the User as if the User were a party to the assignment.
20. Platform Security
a. The User is prohibited from violating or attempting to violate the security of the Platform. Any unauthorized tampering, fraudulent activities, or misrepresentation of identity, whether directly or through agents, constitutes a breach of these Terms and is subject to legal action.
b. The User agrees not to engage in any of the following activities on the Platform:
License, sell, rent, lease, transfer, assign, distribute, host, or otherwise commercially exploit the Platform;
Access the Platform to develop a competing service or product;
Copy, reproduce, distribute, or transmit any Content from the Platform;
Use the Platform in a manner that causes harm or disruption to the Platform or its Users, or violates any applicable law or third-party rights;
Abuse, harass, intimidate, or impersonate other Users;
Post or transmit any content that is unlawful, offensive, defamatory, invasive of privacy, or violates any third-party rights;
Use the Platform for unauthorized purposes or in violation of these Terms or applicable laws;
Engage in data scraping, reverse engineering, or any other unauthorized automated activity;
Submit or cause to be transmitted any harmful software, including viruses, trojan horses, or malware;
Use any automated means to access the Platform or conduct data collection activities without our prior written consent;
Use the Platform to transmit unsolicited communications or for any marketing purposes without permission;
Attempt to disrupt the Platform’s service or gain unauthorized access to the Platform’s infrastructure or data.
c. The Platform may contain links to third-party websites or services. These links are provided for convenience and informational purposes only. We do not review or endorse the content of third-party sites and are not responsible for their availability, accuracy, or reliability. The User uses these links at User’s own risk.
21. Taxes
a. The User shall bear full responsibility for identifying and paying any and all applicable taxes, duties, cess, fees, and other charges, including any penalties, interest, or additional amounts, as may be payable in relation to transactions conducted through the Platform. BharatFD shall not be liable for the payment of any taxes, duties, or other charges due to any governmental authority in connection with such transactions.
22. Force Majeure
a. BharatFD shall not be liable for any failure to perform its obligations under these Terms or any specific provisions applicable to its facilities, where such failure results from a Force Majeure Event. In such circumstances, BharatFD's performance obligations shall be suspended for the duration of the Force Majeure Event.
b. The User acknowledges and agree that BharatFD is not responsible for the availability or performance of the Platform. BharatFD shall not be liable for any loss or damage incurred by the User as a result of a Force Majeure Event. Any cancellations, refunds, or redemptions shall be governed by the applicable policies in place at the time.
c. A "Force Majeure Event" refers to any event or circumstance beyond BharatFD's reasonable control, including, but not limited to, the following: unavailability of communication systems, system breaches, viruses, sabotage, fire, flood, earthquakes, explosions, acts of God, civil commotion, strikes or other industrial actions, riots, insurrection, war, government actions, hacking or unauthorized access to computer systems, data or networks, power outages, mechanical or technical failures, or any other malfunction or disruption in services due to malicious, destructive, or corruptive codes or programs, and any other event beyond BharatFD’s reasonable commercial control.
24. Use of Google Analytics
a. The Platform employs Google Analytics, a web analytics service provided by Google, Inc. Google Analytics uses first-party cookies to track and report on User interactions with the Platform. These cookies collect non-personally identifiable data regarding User’s use of the Platform. This data is aggregated with similar data from other Users to help BharatFD assess the popularity of different areas of the Platform's offerings and to optimize User experience and presentation.
b. For further information on how Google handles data, including technical data, please refer to the policy "How Google uses data when the User use our partners' platforms or apps," available at: [www.google.com/policies/privacy/partners]. Under no circumstances shall Google collect or share any personally identifiable information, including User’s email, password, or financial data, through the use of the Platform.
25. Limitation of Claims
a. Notwithstanding any applicable law to the contrary, and to the fullest extent permitted by law, any claim or cause of action arising from or relating to User’s access to or use of the Platform, or these Terms, must be filed within three (3) months from the date on which the claim or cause of action arose. Failure to file such a claim within this period will result in the claim being permanently barred.
26. Grievance Redressal Mechanism
a. BharatFD is committed to addressing all grievances in a fair, efficient, and cost-effective manner. We aim to resolve any concerns raised by Users through our Grievance Redressal Cell.
b. All grievances related to the use of the Platform should be directed to the Grievance Officer:
Name: Shashwat Singh
Email: [email protected]
Phone: +91 92669 44533
The Grievance Officer will acknowledge receipt of the grievance and respond within 48 (forty-eight) hours.
c. Upon submission of a grievance, the User will be provided with a unique complaint or ticket number to track the status of the grievance. While we aim to resolve grievances promptly, the process may take up to 1 (one) month from the date of receipt of the complaint.
27. Dispute Resolution, Governing Law, and Jurisdiction
a. These Terms shall be governed by, and construed in accordance with, the laws of India. The courts and tribunals in the National Capital Territory of Delhi (NCT of Delhi) shall have exclusive jurisdiction over any disputes arising under or in connection with these Terms.
b. The parties shall make reasonable efforts to amicably resolve any disputes arising from the interpretation, performance, or termination of this Agreement, or any matter related to it, through good faith discussions.
c. If the dispute remains unresolved after 15 (fifteen) days from the date a written notice (the "Dispute Notice") is served by one party to the other, the matter shall be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996, as amended or re-enacted from time to time. The arbitration shall be conducted in National Capital Territory of Delhi (NCT/Delhi) and the language of arbitration shall be English.
28. User Covenants
a. When communicating with BharatFD through digital media, the User agrees to ensure the following:
Platform Access: Ensure that the communication is conducted through the authorized and official Platform.
Confidentiality: Maintain the confidentiality of User credentials, including User ID and OTPs. BharatFD uses secure login procedures, and apart from the User’s access, BharatFD or its representatives will never request the User’s credentials.
Authorized Personnel: Communicate only with personnel affiliated with BharatFD.
Email Communications: Do not send emails to any address other than those officially designated by BharatFD. Employees and authorized representatives of BharatFD are prohibited from conducting official communications through personal email accounts or other unauthorized addresses.
29. Disclaimers
a. The content, including blogs, FAQs, and other informational materials available on the BharatFD website and Platform, is provided for educational purposes and to offer general information about the products and services available on the Platform. The content is not intended to constitute legal advice, investment advice, or a recommendation. BharatFD and its associated entities, employees, and representatives make no representations or warranties regarding the accuracy, completeness, or reliability of such content. In no event shall BharatFD or its affiliates be liable for any direct, indirect, incidental, punitive, or consequential damages arising from reliance on or use of the information contained in the Platform’s content.
b. Additional Disclaimers:
General Disclaimer:
"The logos and trademarks used on this Platform are the property of their respective owners. Their inclusion is solely for comparison purposes and does not imply any endorsement, affiliation, or sponsorship by the respective banks or NBFCs."
Rate Comparison Disclaimer:
"The interest rates displayed for fixed deposits (FDs) on the Platform are for informational purposes only and may be subject to change. Users should verify the current rates with the respective banks or NBFCs before making any financial decisions. The inclusion of logos or trademarks does not guarantee the accuracy or availability of the rates."
Third-Party Disclaimer:
"This Platform may contain links or references to third-party websites or services. BharatFD does not endorse, control, or guarantee the accuracy, relevance, timeliness, or completeness of any third-party content, products, services, or websites. Any reliance placed on such third-party information is solely at the User’s own risk."
Accuracy Disclaimer:
"While BharatFD strives to provide accurate and up-to-date information, no representations or warranties, express or implied, are made regarding the completeness, accuracy, reliability, or suitability of the information, products, services, or related graphics contained on this Platform for any purpose."
Consultation Disclaimer:
"The content available on this Platform does not constitute financial advice. It is intended for general informational purposes only and should not be considered as professional financial advice. For personalized advice regarding User’s financial situation, we recommend consulting with a qualified financial advisor or institution."
Copyright and Fair Use Disclaimer:
"The use of logos and trademarks is in accordance with the principles of fair use and is intended for comparative analysis only. Unauthorized reproduction or distribution of these logos and trademarks is strictly prohibited and may infringe upon copyright laws."
30. Refund and Cancellation Policy for Fixed Deposits
a. When a User books a Fixed Deposit ("FD") through our platform, the corresponding funds are transferred from the User’s account to the designated bank. In certain circumstances, such as failure to complete the Video Know User’s Customer ("KYC") process, operational or technical issues, or other unforeseen events, the FD booking may not be successfully completed.
b. In such cases, BharatFD or the relevant bank will initiate a refund of the deposited funds. The refund process will be completed, and the funds will be credited back to the User’s account within 5 (five) to 7 (seven) working days from the date the issue is identified.
31. Pricing for Fixed Deposits
a. BharatFD does not charge any fees for booking a Fixed Deposit ("FD") through the Platform. Users may utilize our services to book FDs without incurring any additional charges. The full amount intended for the FD will be invested without any deductions for booking fees. Our objective is to provide Users with a seamless, transparent, and cost-effective experience.
32. Referral Program Terms and Conditions
a. Eligibility for Referral Program: The referral program ("Program") offered by BFD Innovations Private Limited ("Company") is available to any individual ("Referrer") who is a registered User of the BharatFD platform. This is applicable regardless of whether the Referrer has an active Fixed Deposit ("FD") with the Company.
b. Referral Reward Criteria: A referred individual ("Referee") qualifies for a reward if they sign up on the BharatFD mobile application using the unique referral link provided by the Referrer and subsequently make their first FD booking with the Company. Upon meeting the criteria of the Program, the Referee will be entitled to receive an Amazon voucher valued at INR 250 ("Voucher").
c. Qualifying FD Bookings: The Referee will only be eligible for the Voucher if their first FD booking is made with one of the following banks:
Shivalik Small Finance Bank Limited
Suryoday Small Finance Bank Limited
Utkarsh Small Finance Bank Limited
North East Small Finance Bank Limited
South Indian Bank Limited
Any FD booking made with banks or non-banking financial companies ("NBFCs") other than those listed above shall not qualify for the Voucher under this Program.
d. Reward Issuance: The Company will issue the Voucher to the eligible Referee within 45 (forty-five) days following the qualifying FD booking. If the Referee cancels or withdraws the FD prior to the completion of 45 days from the date of booking, they will forfeit their eligibility for the Voucher.
e. Referral Link Eligibility: To be eligible for the reward, the Referee must register via the unique referral link provided by the Referrer on or after December 1, 2024. The Referee will only be eligible for the reward if they meet the Program's criteria for their first FD booking.
f. No Incentives for Referrers: Referrers are not entitled to any reward, incentive, or compensation under this Program. The Program is intended solely for the benefit of eligible Referees who meet the conditions outlined herein.
g. Modification of Terms: The Company reserves the right to modify, alter, or cancel the terms, conditions, or rewards associated with this Program at its sole discretion, without prior notice to participants. Any changes made will not affect participants who have already qualified for rewards within the offer period, as long as the modifications do not occur prior to the completion of their qualifying FD booking.
By participating in the Program, both Referrers and Referees acknowledge and agree to comply with these terms and conditions in their entirety. Participants waive the right to contest any modifications made to the Program after their participation.