Terms and Conditions
Birmecha Securities Pvt. Ltd., a company incorporated under the laws of India and having its registered office at PODDAR COURT, GATE - 4, ROOM NO - 110, 18, RABINDRA SARANI , KOLKATA, West Bengal, India - 700001 (hereinafter referred to as "Birmecha Securities Pvt. Ltd.", "Company", "We", "Us" or "Our"), owns and operates the mobile application and the website https://birmechasecurities.com under the brand name "Finotive". By accessing or using this Platform, you ("User" or "You") acknowledge that Finotive is a facilitation platform that enables You to access various financial products, including but not limited to personal loans, business loans and insurance, which are offered by our partner financial institutions.
By accessing, browsing, registering on, or otherwise using the Platform in any manner, You confirm that You have read, understood, and agree to be bound by these Terms & Conditions, our Privacy Policy, and any other policies communicated or made available on the Platform, as may be amended from time to time. If You do not agree with any part of these Terms & Conditions, You should not access or use the Platform or any Services provided through it.
1. General
Birmecha Securities is a Non-Banking Financial Company (NBFC) registered with and regulated by the Reserve Bank of India (“RBI”). Incorporated in the year 1994 under the provisions of the Companies Act, 1956 (and deemed to be a company under the Companies Act, 2013), and governed by applicable RBI regulations, Birmecha Securities is authorized to provide lending and other permitted financial products to eligible Users in accordance with applicable laws, RBI regulations, and its internal credit policies.
Birmecha Securities, a privately owned company, operates as a direct provider of financial services as well as a facilitation platform for Users seeking financial products. While Birmecha Securities may collaborate with banks, NBFCs and other financial institutions for co-lending, sourcing or distribution arrangements, it remains, in its own capacity, an RBI-registered NBFC and not merely a marketplace or intermediary.
If You decide to avail any of the financial products offered or facilitated by the Platform, You will be required to provide certain information and documents, as may be necessary for identity verification, credit assessment, underwriting and servicing. Our authorized representatives may contact You via phone, SMS, WhatsApp, in-app notifications or email to better understand Your requirements, explain product features and complete the onboarding and loan processing formalities.
Birmecha Securities offers a range of services, which include but are not limited to the following:
- Direct Lending as NBFC: Birmecha Securities, in its capacity as an RBI-registered NBFC, may extend loans and other permitted credit facilities directly to eligible Users, subject to its internal credit policies and applicable RBI guidelines.
- Financial Product Access: The Platform allows Users to access a variety of financial products such as personal loans, business loans, and other related credit facilities offered by Birmecha Securities and/or its partner financial institutions.
- Partner / Co-lending Arrangements: The Platform may facilitate collaboration with banks, NBFCs or other regulated entities, including co-lending or sourcing arrangements, to enable Users to access suitable financial products.
- Loan Application Assistance: Birmecha Securities assists Users in the loan application process by providing guidance, collecting necessary information and documents, performing KYC and credit assessment (as applicable), and facilitating the submission and processing of applications.
- Financial Product Comparison: Where applicable, the Platform may provide tools and resources to compare different financial products, helping Users make informed decisions based on interest rates, terms and conditions, fees, eligibility criteria and other relevant factors.
- Financial Guidance and Support: Subject to applicable regulations, Birmecha Securities may provide general financial guidance to Users regarding loan features, repayment obligations and responsible borrowing, without offering investment, tax or legal advice.
- Customer Support: The Platform provides customer support services to respond to User queries, provide assistance during the application and servicing lifecycle and address issues relating to the Services.
While Birmecha Securities provides or facilitates financial products as an RBI-registered NBFC and/or in collaboration with partner institutions, the sanction of any facility, its terms, the amount, tenure, interest rate and other conditions are subject to the sole and independent discretion of Birmecha Securities (when lending directly) and/or the relevant partner financial institution, based on their credit assessment and applicable policies.
For the purposes of providing the Services mentioned above, Birmecha Securities will collect, use, process and, where necessary, share the User’s information (including with credit bureaus, KYC service providers, technology partners, collection partners and, where applicable, other lenders or financial institutions) strictly in accordance with applicable law, RBI directions and the Privacy Policy. Multiple credit checks may be undertaken, wherever permitted, to assess eligibility and identify suitable offers for the User.
2. Eligibility
To use the Platform you must be a natural or legal person of at least 21 years of age and have the legal capacity to enter into contracts in India. By registering for or using the Platform, you confirm that you meet these eligibility requirements and agree to comply with these Terms & Conditions. Birmecha Securities may, at its sole discretion and without liability, suspend or terminate your account, delete your profile or any content you have posted, and refuse or restrict access to the Platform (with or without notice) if it reasonably believes you are ineligible or have breached these Terms & Conditions.
3. Acceptance of Terms and Conditions
By accessing or using the Platform in any manner, You acknowledge that You have carefully read, understood, and agreed to be bound by these Terms & Conditions, together with any additional terms, policies, notices, or disclaimers that may be displayed or otherwise communicated on the Platform from time to time. If You do not agree with any provision of these Terms & Conditions, You should immediately discontinue access to and use of the Platform and the Services.
Birmecha Securities reserves the right, at its sole and absolute discretion, to revise, update, modify or replace any part of these Terms & Conditions at any time, to reflect changes in law, regulatory requirements, internal policies, or the nature of the Services. Unless otherwise required by applicable law, such changes shall become effective upon being posted on the Platform or notified to You through any reasonable channel, including email, SMS, in-app notification or website notice. It is Your responsibility to review the Terms & Conditions periodically. Your continued access to or use of the Platform after any such changes are made shall constitute Your deemed acceptance of the revised Terms & Conditions.
4. Your Account
To use the Platform, You must create and maintain an account by providing certain information and documents, including Your name, email address, mobile number, and any other details as may be required by Birmecha Securities from time to time. You agree that all information You provide will be true, accurate, current and complete, and that You will promptly update such information (through Your account dashboard or by writing to us at support@birmechasecurities.com) if it changes.
You are solely responsible for maintaining the confidentiality and security of Your account credentials (including Your username, password, PIN, OTP and any other authentication factors) and for all activities that occur under or in connection with Your account. You agree to: (a) immediately notify Us if You suspect any unauthorized access to or use of Your account or any other security breach; and (b) ensure that You log out from Your account at the end of each session and take adequate precautions when accessing the Platform from shared or public devices.
Birmecha Securities reserves the right, in its sole discretion, to suspend, restrict or terminate Your account (with or without prior notice) if it has reason to believe that: (a) any information provided by You is false, inaccurate, incomplete, misleading or not updated; (b) Your account is being used in a manner that violates these Terms & Conditions, applicable law or any policies of Birmecha Securities; or (c) there is any suspected fraud, misuse, unauthorized access or security risk associated with Your account. In such cases, Birmecha Securities may, but is not obliged to, inform You of the reasons for such action, subject to applicable law.
You acknowledge that the right to use the Platform is personal to You and is non-transferable. You shall not share, assign, transfer, sell or otherwise permit any third party to use or access Your account. You agree to comply at all times with these Terms & Conditions, and understand that any breach may lead to suspension or termination of Your account and/or result in civil and/or criminal liability under applicable laws of India.
5. Privacy
Birmecha Securities collects, processes and stores certain information about You (including personal and sensitive personal data, as applicable) for purposes such as verifying Your identity, assessing eligibility, providing and servicing financial products, complying with legal and regulatory requirements, improving the Platform and enhancing user experience. The collection and use of Your information by Birmecha Securities is governed strictly in accordance with applicable law, RBI guidelines and Our Privacy Policy. By accessing or using the Platform, You acknowledge that You have read, understood and agree to be bound by the Privacy Policy, as may be updated from time to time.
6. License and Access
Subject to Your continued compliance with these Terms & Conditions, Birmecha Securities grants You a limited, revocable, non-exclusive, non-transferable and non-sublicensable license to access and use the Platform solely for Your personal, lawful use and for availing the Services. This license does not include any right to, and You agree not to: (a) download, store or print any part of the Platform other than for normal page caching or for Your own personal, non-commercial reference; (b) modify, adapt, translate, reverse engineer, decompile, disassemble or create derivative works based on any part of the Platform; (c) access or attempt to access any part of the Platform, network, server or related systems in an unauthorized manner or in excess of the rights expressly granted to You; (d) reproduce, duplicate, copy, sell, resell, distribute, publicly display, publicly perform or otherwise exploit the Platform or any portion thereof (including any content, data, materials, trademarks or other proprietary information) for any commercial purpose without the prior express written consent of Birmecha Securities and/or its affiliates, as applicable; or (e) use any automated tools, robots, spiders, scrapers, data mining or extraction tools, or any other automated means to access, monitor or copy any part of the Platform without Our prior written consent.
Any use of the Platform or the Services other than as expressly permitted under these Terms & Conditions is strictly prohibited and shall automatically terminate the license granted to You by Birmecha Securities, without prejudice to any other rights or remedies that may be available to Birmecha Securities under applicable law.
7. Monitoring of the Platform and Your Account
Birmecha Securities reserves the right, but not the obligation, to monitor use of the Platform, including the information provided in Your account and any content or activity associated with it. Such monitoring is undertaken to (a) verify the accuracy of information submitted by You; (b) ensure compliance with these Terms & Conditions, applicable law and internal policies; and (c) protect the integrity, security and proper functioning of the Platform.
Subject to applicable law, if Birmecha Securities believes that any information, content or activity on the Platform is inaccurate, misleading, unlawful, harmful, inappropriate, or otherwise in violation of these Terms & Conditions, Birmecha Securities may, at its sole discretion and without prior notice: (a) remove, disable or restrict access to such information or content; (b) suspend or terminate Your access to the Platform; and/or (c) disclose or share any information (including account details, transaction history or communications) with competent governmental, regulatory, judicial or law enforcement authorities in accordance with applicable laws and procedures.
8. Service Suspension
Birmecha Securities may, at any time and for any reason (including for maintenance, upgrades, security, operational or regulatory purposes), suspend, restrict, modify or discontinue all or any part of the Platform or the Services, temporarily or permanently, with or without prior notice. Birmecha Securities shall not be liable to You or to any third party for any such suspension, restriction, modification or discontinuation, except to the limited extent expressly required under applicable law.
Upon termination of Your access to the Platform for any reason: (a) all rights and licenses granted to You under these Terms & Conditions shall immediately cease; (b) You shall stop accessing and using the Platform and the Services; and (c) any obligations that by their nature are intended to survive termination (including those relating to payment of dues, confidentiality, limitation of liability, dispute resolution, etc.) shall continue to remain in full force and effect.
9. Prohibited Uses
In addition to any other restrictions set out in these Terms & Conditions, You agree that You will not, directly or indirectly, use the Platform or the Services for any of the following purposes or in any of the following ways:
- (a) for any activity that is unlawful, fraudulent, unauthorised or otherwise contrary to applicable laws or regulations;
- (b) to solicit, facilitate, promote or participate in any illegal or prohibited acts;
- (c) to violate or infringe any intellectual property rights, proprietary rights, privacy rights or other rights of Birmecha Securities, its affiliates, other Users or any third party;
- (d) to upload, transmit, publish or distribute any content that is defamatory, obscene, pornographic, indecent, offensive, abusive, harassing, hateful, threatening, discriminatory or otherwise objectionable;
- (e) to submit any false, inaccurate, incomplete or misleading information or documentation, including for the purpose of identity verification, KYC, loan application or any other Service;
- (f) to upload, transmit or distribute any viruses, malware, worms, trojan horses, malicious code or any other technologies that may harm or interfere with the operation of the Platform, any related systems or any third-party systems, networks or devices;
- (g) to engage in any data harvesting, scraping, crawling, indexing, automated collection, or similar activities, except as expressly permitted in writing by Birmecha Securities;
- (h) to attempt to gain unauthorised access to any part of the Platform, user accounts, servers, networks, systems or data, or to probe, scan or test the vulnerability of any system or network;
- (i) to use the Platform for sending unsolicited communications, spam, phishing, or any deceptive or fraudulent messages;
- (j) for any obscene, immoral, exploitative or otherwise inappropriate purpose; or
- (k) to interfere with, disrupt or circumvent the security, integrity, availability or performance of the Platform or any related services, networks or systems.
Birmecha Securities reserves the right to investigate and take any action it deems appropriate (including suspension or termination of access, reporting to authorities, or pursuing legal remedies) if it reasonably believes that You have engaged in any prohibited use or have otherwise violated these Terms & Conditions.
10. Refund & Cancellation Policy
Any excess or erroneous payment made by a User to Birmecha Securities (for example, duplicate payments or payments in excess of the outstanding amount) will, upon successful verification and reconciliation of accounts by Birmecha Securities, be refunded to the User within thirty (30) days, subject to applicable law and any restrictions imposed by payment system providers or banks.
Once a loan has been duly sanctioned, disbursed and credited to the User’s designated bank account, the underlying loan agreement and related services cannot be cancelled merely on account of a change of mind by the User. Any prepayment, foreclosure or restructuring of the loan, if permitted, shall be governed by the terms of the relevant loan agreement and applicable law, including any charges, fees or conditions stipulated therein.
11. Limitation of Liability and Disclaimer of Warranties
To the maximum extent permitted by applicable law, in no event shall Birmecha Securities, its holding, subsidiary or affiliate companies, group entities, directors, officers, employees, agents, representatives, licensors or service providers be liable to You or to any third party for any indirect, incidental, consequential, special, punitive or exemplary damages, or for any loss of profit, revenue, business, data, goodwill or anticipated savings, arising out of or in connection with (a) Your access to or use of, or inability to access or use, the Platform or the Services; (b) any decision made or action taken by You in reliance on any content or information available on the Platform; or (c) any other matter relating to the Platform or the Services, whether based on contract, tort (including negligence), strict liability or otherwise, even if advised of the possibility of such damages.
You agree that, to the extent permitted by law, Your sole and exclusive remedy for any claims or disputes with Birmecha Securities arising out of or relating to these Terms & Conditions, the Platform or the Services shall be limited to the actual, direct damages proven by You, and in any event, the aggregate liability of Birmecha Securities (if any) shall not exceed the total amount, if any, actually paid by You to Birmecha Securities for the specific Service giving rise to such claim during the three (3) months immediately preceding the event giving rise to the claim.
Birmecha Securities is not a manufacturer or provider of the financial products that may be offered by banks, NBFCs or other regulated entities through or in connection with the Platform. Unless Birmecha Securities is itself acting as the lender in its capacity as an RBI-registered NBFC, all terms and conditions, representations, warranties, obligations and liabilities in relation to such financial products are exclusively between You and the relevant lender or financial service provider, and shall be governed by the separate agreements executed between You and such lender. Birmecha Securities does not guarantee, endorse or assume any responsibility for (a) the accuracy, adequacy or completeness of any information or offer provided by such third parties; (b) the sanction, amount, tenure, pricing or other terms of any financial product; or (c) the performance, servicing or outcome of any such financial product.
The Platform and the Services (including all information, content, materials, products and features made available to You through the Platform) are provided on an “as is”, “as available” and “with all faults” basis, without any representations or warranties of any kind, whether express, implied or statutory. Without limiting the generality of the foregoing, and to the fullest extent permitted by law, Birmecha Securities expressly disclaims all implied warranties of merchantability, fitness for a particular purpose, title, non‑infringement, accuracy, completeness, reliability, suitability, availability, uninterrupted or error‑free operation, or that defects (if any) will be corrected. Birmecha Securities does not warrant that the Platform will be compatible with Your devices, free from viruses, malware or other harmful components, or that transmission of data over networks or communication facilities will be secure or free from interference, delay or errors.
You understand and agree that You access and use the Platform and the Services at Your own discretion and risk. You are solely responsible for (a) evaluating the accuracy, usefulness and suitability of any information or content available on the Platform; and (b) implementing appropriate safeguards (including up‑to‑date antivirus and backup mechanisms) to protect Your devices, systems and data. To the extent permitted by law, Birmecha Securities shall not be responsible for any loss or damage suffered by You due to any delay, interruption, suspension, corruption or failure of any data, system or network in connection with Your use of the Platform.
12. Advertisers and Third-Party Links
The Platform may display advertisements and may contain links to third‑party websites, applications or services that are not owned, operated or controlled by Birmecha Securities. Any such advertisements or links are provided solely for Your convenience and information.
Birmecha Securities does not control, endorse, recommend or make any representations or warranties (express or implied) regarding: (a) the availability, accuracy, reliability or completeness of any information, content, products or services on such third‑party platforms; or (b) any dealings that You may have with such third parties. Access to and use of any third‑party websites, applications or services shall be governed exclusively by the terms and conditions and privacy policies of the relevant third party.
You acknowledge and agree that Birmecha Securities shall not be responsible or liable, directly or indirectly, for any loss, damage, expense or other consequences arising out of or in connection with Your access to, use of, or reliance on any third‑party advertisements, websites, applications, products or services, or for any transactions or arrangements entered into by You with any such third parties.
13. Acknowledgements
You acknowledge that Birmecha Securities operates the Platform as an RBI‑registered NBFC and may (a) provide certain financial products directly, and/or (b) facilitate access to financial products offered by its partner banks, NBFCs and other regulated entities (“Financial Partners”). The availability, sanction, terms and conditions, pricing and continued operation of any financial product are determined solely by Birmecha Securities (when acting as lender) and/or the relevant Financial Partner, in accordance with their internal policies and applicable law.
Where a financial product is offered by a Financial Partner, Your relationship in respect of such product is exclusively with the relevant Financial Partner and is governed by the separate agreements and documents executed between You and such Financial Partner. Birmecha Securities and its affiliates, directors, officers, employees, agents, contractors and service providers shall not be responsible or liable for: (a) any act, omission, default, deficiency in service, representation or assurance made by any Financial Partner; (b) the rejection, modification, recall, restructuring or recall of any financial product; or (c) any loss, damage or claim suffered by You arising from or in connection with such financial product.
You agree that it is Your responsibility to carefully read, understand and accept all applicable terms, conditions, risk disclosures and fee structures before availing any financial product, and to seek independent legal, tax, accounting or financial advice where necessary.
14. Governing Law and Jurisdiction
These Terms & Conditions, Your use of the Platform and any dispute, claim or controversy arising out of or in connection with the Platform, the Services or these Terms & Conditions (whether contractual or non‑contractual) shall be governed by and construed in accordance with the laws of India, without regard to its conflict of law principles.
Subject to any specific dispute resolution mechanism that may be agreed in writing (including in any loan or facility agreement), You agree that the courts at Kolkata, West Bengal, India, shall have exclusive jurisdiction over all disputes arising out of or in relation to the Platform, the Services or these Terms & Conditions.
15. Grievances
If You are dissatisfied with any Service provided by Birmecha Securities or wish to share feedback, You may lodge a grievance or send Your comments to Us through any of the following channels:
Helpline: 1800 123 4567
Email: support@birmechasecurities.com
Grievance Redressal Officer
In case Your concern is not resolved to Your satisfaction, You may escalate the matter to the Grievance Redressal Officer (“GRO”) of Birmecha Securities at the coordinates given below:
Name: Grievance Redressal Officer
Address: PODDAR COURT, GATE - 4, ROOM NO - 110, 18, RABINDRA SARANI , KOLKATA, West Bengal, India - 700001
Contact: 1800 123 4567
Email: grievance@birmechasecurities.com
Working hours: 10:00 AM to 7:00 PM, Monday to Saturday (excluding public holidays)
The GRO may be contacted by phone during the above working hours or by email at any time. Birmecha Securities will endeavour to acknowledge and resolve Your grievance as promptly as possible and, in any event, within fourteen (14) days from the date of receipt, subject to the nature and complexity of the matter and applicable regulatory requirements.
