Terms of Service

LAST REVISION: [03-07-2017]


This Agreement sets forth the terms and conditions that apply to the access and use of the Website “www.shubhbank.com” and its Mobile Application (collectively referred to as “Website”), which is owned and operated by having its Registered Office at ECLAT NET ADVISORS PRIVATE LIMITED, SCO- 7, INDUSTRIAL AREA, PHASE –II, CHANDIGARH (INDIA), PINCODE: 160002 (hereinafter referred to as “Company”), which is incorporated under the laws of India and registered under the Companies Act, 1956.

As a user (“User”) of this Website, the User understands that ShubhBank is a platform providing access between multiple Users in the form of consumers, financial institutions, data partners and other partners lenders, borrowers, service providers etc. with a view to facilitate lending and borrowing activities, including providing other financial products i.e., credit cards, insurance products etc. between the Users.

The Terms of Services (TOS) is an electronic record in terms of Information Technology Act, 2000 and generated by a computer system and does not require any physical or digital signatures. This document is published in accordance with the provisions of Rule 3 of the Information Technology (Intermediaries guidelines) 2011, that provides for the due diligence to be exercised for the access or usage of this Website.

The TOS does not alter in any way the terms or conditions of any other written agreement the User may have with the Company for other products or services. If the User does not agree to the TOS (including any referenced policies or guidelines), the User may refrain from the use of the Website.


1. Description and Acceptance of Services

Company, hereby provides you with access to information primarily about certain financial products/services including, but not restricted to loan facility, credit cards, insurance products (the “Services”). The Website provides access to an online platform (“Platform”) bringing together financial institutions, data partners and cosumers willing to abide by the Terms & Conditions herein. Shubh Bank facilitates customers who wish to avail loan facility or other financial services from financial institutions.

In addition, the Company provides third party services including but not limited to credit score check services, and any other services to retrieve and use your information through third party sites (e.g. Bank sites etc.) in conjunction with your selection of the Services (“ancillary services”).

The Website is an online platform providing Users registered on the Website with access to data base of the Users. The information is also shared with third party verification agencies and collection agencies etc. The final decision as regards lending and borrowing is also subject to the choice of the respective Users in their respective capacities as lenders / borrowers / users of other financial products as set out in the Website. Further, the Company provides support to the Users in verifying the financial capabilities of Users.

By accessing this Website or registering your information on the Website, the User agrees to be bound by the terms and conditions of these Terms of Service (TOS), the Legal Disclaimer and the Privacy Policy, as posted elsewhere on the Website. If you disagree with any part of these terms and conditions, please do not use the Website.

Shubhh Bank reserves the right to change or revise the terms and conditions of this Terms of Service (TOS), at any time by posting any changes or a revised TOS on this Website. An alert that changes or revisions have been made will be made by indicating, on the top of the TOS, the date it was last revised. User’s continued use of the Website following the posting of changes will mean that the User has accepted and agreed to the revisions.

The User agrees and authorizes Company to share their information with its group companies and other third parties, in so far as required for joint marketing purposes/offering various services/report generations and/or to similar services to provide you with various value added services, in association with the Services selected by you or otherwise. The User agrees to receive communications through emails, telephone and/or SMS, from the Company or its third party vendors/ business partners regarding the Services/ ancillary services updates, information/ promotional emails and/ or product announcements. In this context, you agree and consent to receive all communications at the mobile number provided, even if this mobile number is registered under DND/NCPR list under TRAI regulations. And for that purpose, the User further authorizes Company to share/ disclose the information to any third party service provider or any affiliates, group companies, their authorized agents or third party service providers.

Company will retain and use User information as necessary to comply with the legal obligations, resolve disputes and enforce our agreements entered into for providing Services and ancillary services.

2. Eligibility

The User of this Website unequivocally declares and agrees that the User is a natural / legal person, a resident of India who has attained the age of at least 18 years, is legally allowed to enter into a contract in India and is not a person barred from receiving services under the laws of India or other applicable jurisdiction and will only use the Website for legitimate purposes for himself or for another person for whom the User is legally authorized to act (and will inform such other persons about the TOU and/or Privacy Policy) that apply to the use of the Website (including all rules and restrictions applicable thereto).

If the User violates any of these Terms & Conditions, or otherwise violate an agreement entered into through the medium of the Website, the Company may terminate the User’s membership and delete any content or information posted online by the User on the Website and/ or prohibit the User from using or accessing the Platform through the Website at any time in its sole discretion, with or without notice, including without limitation if it believes that you are under18.

3. License and Website Access

The User acknowledges and agrees that Company owns all legal right, title and interest in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights are registered or not). The User further acknowledges that the Services may contain information which is designated confidential by Company and that you shall not disclose such information without Company`s prior written consent. The contents of the Website, including its “look and feel” (e.g. text, graphics, images, logos and button icons), photographs, editorial content, notices, software and other material are the owned/ licensed by/ to Company and/ or its third Party Service Providers/ their licensors and are duly protected by them under applicable copyright, trademark and other laws.

The Company grants the User a limited license to access and make use of the Website, but not to download any material from it (other than page caching) or modify it, or any portion of it, except with express written consent of the Company and/ or its affiliates, as may be applicable. Any unauthorized access to the Website or any networks, servers or computer systems connected to Website and any attempt to modify, adapt, translate or reverse engineer any part of the Website or re-format or frame any portion of the pages of the Website, save to the extent expressly permitted by the TOS, is not permitted. This license is non-transferable and does not permit any resale or commercial use of this website or its contents; any downloading or copying of account information for the benefit of anyone other than the User; or any use of data mining, robots, or similar data gathering and extraction tools. This Website or any portion of this Website (including but not limited to any copyrighted material, trademarks, or other proprietary information) may not be reproduced, duplicated, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without express written consent of the Company and/ or its affiliates, as may be applicable. Any unauthorized use of the Website shall terminate the permission or revoke the license granted by the Company.

4. Privacy Policy

By using the Website, you hereby consent to the use of your information as we have outlined in our Privacy Policy. This Privacy Policy explains how Company treats your personal information when you access the Website and use other ancillary Services.

5. Your Registration/Account

You agree to accept responsibility for all activities that occur under your account or password. You should take all necessary steps to ensure that the password is kept confidential and secure and should inform us immediately if you have any reason to believe that your password has become known to anyone else, or if the password is being, or is likely to be, used in an unauthorized manner. Please ensure that the details you provide us with are true, correct, accurate and complete and inform us immediately of any changes to the information that you provided when registering. You can access and update most of the information you provided us with in ‘dashboard’ area of the website after you log-in or by writing to us at help@shubhbank.com. The Company reserves the right to refuse access to the website, terminate accounts, remove or edit content at any time without notice to you. The right to use this Website is personal to the User and is not transferable to any other person or entity. The Company shall not be responsible for any data lost while transmitting information on the internet. Further, it is to be noted that all the information provided shall be solely used for providing the services as set out herein.

The User also unequivocally agrees to provide true, accurate, current and complete information about as sought by the registration form of the Website. In case the Company has any reasonable suspicion that the information provided by the User is wrong, inaccurate or incorrect, the Company shall immediately terminate the User’s account without any notice in this regard. The User shall at all times abide by the Terms and Conditions stated herein and any breach of these conditions may also lead to the Company terminating the User account and appropriate civil and criminal remedies will be sought against the User as provided under the laws of India.

Further, the Users also acknowledge that the document uploaded by the Users shall be used by the Company and other Users to verify, perform data analytics and other such activities on the uploaded documents and further, provide such information as may be necessary to the other Users for the facilitating the services being provided herein.

You agree and understand that you are solely responsible for maintaining the confidentiality of your password which, together with your Login ID (as may be applicable in accordance with the Service selected), allows you to access the Service. That Login ID and password, together with any mobile number or other contact information you provide, form your “Registration Information”. You agree that you are responsible for maintaining the confidentiality of your Login ID and password, and for restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. Because of this, we strongly recommend that you exit from your account at the end of each session. You agree to notify Company immediately of any unauthorized use of your account or any other breach of security. You further agree that Company shall not be liable for any unauthorized use or access, unless it is proved that the unauthorized use or access occurred solely due to reasons directly attributable to Company.

The User shall provide true, accurate, current and complete information about himself and undertake to inform/ update of any change in his Registration Information promptly and keep it up-to-date and accurate at all times, as it has a direct bearing on the provision of Services and ancillary services by or through Company. The User agrees not to misrepresent their identity nor will they make an attempt to make an unlawful access to the Website or use of the Services.

6. Monitoring of Content

The Company has the right and liberty to monitor the content of the Website at all times which shall include information provided in User account. The monitoring of the Website is important to determine the veracity of the information provided by the User and that every User remains in consonance with the TOS provided herein. Subject to the TOS mentioned herein the Company has the liberty to remove any objectionable content which is in contravention of the TOS herein or share such information with any governmental authority as per procedures laid down by the law for the time being in force in India.

By sharing or submitting any content including any data and information on the Website, the User agrees that the User shall be solely responsible for all content posted by them on the Website and Company shall not be responsible for any content the User makes available on or through the Website. At Company`s sole discretion, such content may be included in the Service and ancillary services (in whole or in part or in a modified form). With respect to such content the User submits or makes available on the Website, the Company acquires a perpetual, irrevocable, non-terminable, worldwide, royalty-free and non-exclusive license to use, copy, distribute, publicly display, modify, create derivative works, and sublicense such materials or any part of such content.

7. Disclaimer of Warranty

You expressly understand and agree that your use of the Services, ancillary services and all information, products, other services and other content (including that of the third parties) included in or accessible from the Website is at your sole risk. The Services and ancillary services are provided on an “as is” and “as available” basis. Company makes no representations, warranties or guarantees, express or implied, regarding the accuracy, reliability or completeness of the content on the Website or of the services (whether or not sponsored by third party service providers), and expressly disclaims any warranties of non-infringement or fitness for a particular purpose.

Company and its service providers expressly disclaim all warranties of any kind as to the Services, ancillary services and all information, products, services and other content (including that of the third parties) included in or accessible from the services, whether express or implied, including but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

Company and its service providers make no warranty that (i) the services will meet your requirements, (ii) the services will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the services will be accurate or reliable, (iv) the quality of any products, services or information obtained by you through the services will meet your expectations, and (v) any errors in the technology will be corrected.

8. Limitation of Liability

Notwithstanding anything to the contrary contained herein, neither the Company nor its affiliated companies, subsidiaries, directors, officers, employees or any related party shall have any liability to the User or to any third party for any direct, indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these terms and conditions, even if Company has been advised of the possibility of such damages, resulting from (i) any failure or delay (including without limitation the use of or inability to use any component of the Website), or (ii) any use of the Website or content, or (iii) the performance or non-performance by us or any provider, even if we have been advised of the possibility of damages to such parties or any other party, or (b) any damages to or viruses that may infect your computer equipment or other property as the result of your access to the Website or your downloading of any content from the Website.

The company has maintained and carried out all possible checks and balances to assure the credibility of the Users as listed on the Platform. The information provided on the Website is based on the information that is provided to the Company. The Company in any event is not responsible for any default in return of money that is borrowed from the lender and the lender shall have the exclusive right to initiate proceedings against the defaulter borrower. The Company shall to the best of its abilities aid the concerned User in terms of provision of information to initiate any legal proceedings. However, the Company shall not be responsible for any default on behalf of the User. This Website is an information platform and the User is entitled to conduct its own diligence before taking any steps to initiate the processes outlined in the Website.

The Website may provide links to other third party websites. However, since Company has no control over such third party websites, you acknowledge and agree that under no circumstances shall Company be liable for your using the services offered or provided by any third party service provider. Such linked websites and mobile applications are provided “as is” for User’s convenience only with no warranty, express or implied, for the information provided within them. The Company does not provide any endorsement or recommendation of any third party website or mobile application to which the Website provides a link. Further, the Users consent and agree that the content provided in the Website and the App shall be synced and shall be available in both mediums.

9. Indemnity

You agree to indemnify and hold Company (and its affiliates, officers, directors, agents and employees and partners) harmless from any and against any claims, causes of action, demands, recoveries, losses, damages, fines, penalties or other costs or expenses of any kind or nature, including reasonable legal fees and expenses, arising out of or related to your breach of this TOS, your violation of any law or the rights of a third party, or your use of the Website or your infringement of any intellectual property or other right of any person or entity, or as a result of any threatening, libelous, obscene, harassing or offensive material posted/ transmitted by you on the Website.

The Company reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify the Company, including rights to settle, and you agree to cooperate with the Company’s defense and settlement of these claims. The Company will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of this TOS.

10. Additional Terms and Conditions

Company reserves the right to make changes to the Website, related policies and agreements, this TOU and the Privacy Policy at any time as it deems fit and proper, including but not limited to comply with changes in law or regulation, correct inaccuracies, omissions, errors or ambiguities, reflect changes in the process flow, scope and nature of the Services and ancillary services, company re-organization, market practice or customer requirements. Upon any change, Company will notify the updated Terms on the Website or other means. Your continued use of the Services and ancillary services constitutes acceptance of the changes and an agreement to be bound by Terms, as amended. If you do not agree to the changes, you may please discontinue your use of the Services and ancillary Services.

The Company may wish to stop providing the services through the Website, and may terminate use of it at any time without giving notice of termination to the User. Unless ShubhBank.com informs the User otherwise, upon any termination, (a) the rights and licenses granted to you in these terms will end; and (b) User must stop using the Website. ShubhBank.com reserves the right to suspend or cease providing any service related to the Website and shall have no liability or responsibility to the User in any manner whatsoever if it chooses to do so.

You agree not to use the Services and ancillary services for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another’s privacy, abusive, threatening, or obscene, or that infringes the rights of other.

Company may, from time to time, announce certain offers with intent to promote its Website and/or Services/ ancillary services (Promotional Offers). The Promotional Offer(s) would always be governed by these TOS plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these TOS, to the extent they may be in conflict with these Terms. Company reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

11. General

If any of these conditions are deemed invalid, void, or for any reason unenforceable, the parties agree that the court should endeavor to give effect to the parties intentions as reflected in the provision, and the unenforceable condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition. Headings are for reference purposes only and do not limit the scope or extent of such section. This TOS and the relationship between the User and Company will be governed by the laws of India without regard to its conflict of law provisions. Any dispute, controversy or claim arising out of or in relation to this Agreement, including a breach or termination thereof, shall be settled by a sole arbitrator to be appointed mutually by Company and the User, in accordance with the provisions of the Arbitration and Conciliation Act, 1996, or amendment thereto. In the event we are unable to reach an agreement on the sole arbitrator, we agree to have a panel of three arbitrators appointed, of which one shall be appointed by each of us, and the third arbitrator appointed by the two arbitrators. The venue for arbitration shall be Chandigarh. The arbitral procedure shall be conducted in the English language and any award or awards shall be rendered in English. The Website/Mobile App specifically prohibits you from usage of any of its Services in any countries or jurisdictions that do not corroborate to all stipulations of these Terms. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Chandigarh having exclusive jurisdiction. The failure of Company to act with respect to a breach by you or others does not waive its right to act with respect to subsequent or similar breaches. This TOS constitutes the entire agreement between you and Company and governs your use of the Website, superseding any prior agreements between you and Company with respect to the Website.