Last updated on 26th November, 2021

Terms of Use

These terms of use (“Terms”) mandate the terms on which the users (“You” or “Your” or “Yourself” or “User”) access and register on the website www.niro.money and mobile application ‘the Niro App’ operated and managed by QFI Technologies Private Limited (“Company”), collectively referred to as (“the Platform”).

This Terms is an electronic record in terms of the Information Technology Act, 2000 and rules made thereunder as applicable. The Terms is (i) published in accordance with the provisions of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 and (ii) generated by a computer system and does not require any physical, electronic, or digital signatures.

Please read the Terms and Privacy Policy carefully before using or registering on the Platform or accessing any material, information through the Platform. By clicking on the “I agree” button, You accept these Terms and Privacy Policy and agree to be legally bound by the same.

The Company retains an unconditional right to modify or amend this Terms and will notify You of the same. You can determine when this Terms was last modified by referring to the “Last Updated” legend above. It shall be Your responsibility to check this Terms periodically for changes. Your acceptance of the amended Terms shall signify Your consent to such changes and agreement to be legally bound by the same. Further, by furnishing Your Personal Information to the Company or giving Your consent to the Company to access Your Personal Information for the purpose of rendering the Services (as defined below), You also agree that You are interested in availing the Services through the Platform in accordance with these Terms.

1. Services

1.1

You acknowledge that the Platform allows You to avail the following services including:

  1. limited, non – exclusive, non – transferable, royalty free licence to use the Platform for the purposes of registering on the Platform, accessing the Content (as defined below) and availing the services through the Platform including access to loans and financial assistance made available through the Platform by partnered financial institutions;

  2. Assistance in completing Know Your Customer verification process, for the partnered financial institutions and facilitating the execution of loan documents;

  3. Periodic notifications and transaction updates and summaries, reminders on SMS, email, calls and WhatsApp;

  4. Maintaining a record of Your financial transactions, repayment schedule and credit history undertaken through the Platform, in a consolidated, secure, and confidential manner; and

  5. Promptly and efficiently responding to Your queries or issues relating to Your Account.

The aforementioned services shall be collectively referred to as the “Services”. The Company may, at its discretion, add, modify, or remove any of the Services listed above from time to time.

1.2

As part of the Services provided to You, You agree to provide honest feedback/review about Our Services, if required by the Company.

1.3

The Company does not: (i) adopt any ‘unfair trade practices’ either on the Platform or otherwise with respect to the Services; and (ii) discriminate between Users of the same class or makes any arbitrarily classification of the Users.

2. Eligibility to Use

2.1

The Services are not available to minors i.e., persons under the age of 18 (eighteen) years or to any Users suspended or removed by the Company for any reason whatsoever. You hereby represent that You are of legal age to form a binding contract, are not a person barred from receiving Services from the Platform under the applicable laws and are competent to enter into a binding contract.

2.2

We maintain the right to provide Services to only those Users who are – a) competent to enter into legally binding contracts, b) have made the representations as provided above, c) and also qualify under the internal policy(ies) for the same determined solely by Us from time to time. We shall have the sole right to change, modify, add, or remove, in whole or in part, internal policy(ies), in relation to the provision of the Services at any time by providing a prior written notice or intimation to the Users.

2.3

You shall not have more than one active Account (as defined below) on the Platform. Additionally, You are prohibited from selling, trading, or otherwise transferring Your Account to another party or impersonating any other person for the purposing of creating an Account with the Platform.

3. User Account, Password, and Security

3.1

In order to access the Services on the Platform, You will have to register on the Platform by providing details as may be required by the Company and provided for in the Privacy Policy (“Account”).

3.2

You shall ensure and confirm that the Account information provided by You is complete, accurate and up-to-date. If there is any change in the Account information, You shall promptly update Your Account information on the Platform. If You provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or if the Company has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, the Company has the right to suspend or terminate Your Account and refuse any and all current or future use of the Platform (or any portion thereof) at its discretion, in addition to any right that the Company may have against You at law or in equity, for any misrepresentation of information provided by You.

3.3

You will be responsible for maintaining the confidentiality of the Account information and are fully responsible for all activities that occur under Your Account. You agree to (a) immediately notify the Company of any unauthorized use of Your Account information or any other breach of security, and (b) ensure that You exit from Your Account at the end of each session. The Company cannot and will not be liable for any loss or damage arising from Your failure to comply with this provision. You may be held liable for losses incurred by the Company or any other user of or visitor to the Platform due to authorized or unauthorized use of Your Account as a result of Your failure in keeping Your Account information secure and confidential.

3.4

You hereby acknowledge and agree that the deletion of the Platform from the Your device does not constitute termination of Your Account and agree to undertake the process detailed herein in order to complete the de-registration of Your Account. If and when You are desirous of having Your name and other details removed from Our records, immediately upon receiving Your written request to that effect, We shall remove and/delete all such information. However, We may retain certain information regarding Your Account, even after receiving a deletion request from You, where such retention is required under applicable laws. You hereby acknowledge that the removal of Your details from the Platform does not constitute termination of Your outstanding obligations, if any, to the partnered financial institution from whom You may have availed credit through the Platform.

4. Use of Platform

4.1

Subject to compliance with the Terms, the Company hereby grants You a non-exclusive, limited privilege to access and use the Platform. You agree to use the Platform only: (a) for purposes that are permitted by the Terms; and (b) in accordance with any applicable law, regulation or generally accepted practices or guidelines. You agree not to engage in activities that may adversely affect the use of the Platform by the Company or other Users.

4.2

You agree not to access (or attempt to access) the Platform by any means other than through the interface that is provided by the Company. You shall not use any deep-link, robot, spider or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any portion of the Platform or Content (as defined below), or in any way reproduce or circumvent the navigational structure or presentation of the Platform, materials or any Content, to obtain or attempt to obtain any materials, documents or information through any means not specifically made available through the Platform.

4.3

You acknowledge and agree that by accessing or using the Platform, You may be exposed to content from others that You may consider offensive, indecent, or otherwise objectionable. The Company disclaims all liabilities arising in relation to such offensive content on the Platform.

4.4

Further, You undertake not to host, display, upload, modify, publish, transmit, store, update or share any information that:

  1. belongs to another person and to which the User does not have any right;

  2. is defamatory, obscene, pornographic, paedophilic, invasive of another's privacy, including bodily privacy, insulting, or harassing on the basis of gender, libellous, racially, or ethnically objectionable, relating or encouraging money laundering or gambling, or otherwise inconsistent with or contrary to the laws in force;

  3. is harmful to child;

  4. infringes any patent, trademark, copyright, or other proprietary rights;

  5. violates any law for the time being in force;

  6. deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any information which is patently false or misleading in nature but may reasonably be perceived as a fact;

  7. impersonates another person;

  8. threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting other nation;

  9. contains software virus or any other computer code, file or program designed to interrupt, destroy, or limit the functionality of any computer resource;

  10. is patently false and untrue, and is written or published in any form, with the intent to mislead or harass a person, entity, or agency for financial gain or to cause any injury to any person;

  11. disrupt or interfere with the security of, or otherwise cause harm to, the Platform, systems resources, accounts, passwords, servers, or networks connected to or accessible through the Platform or any affiliated or linked sites;

  12. violate the Terms contained herein or elsewhere and/or the Privacy Policy; and

  13. reverse engineer, modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information or software obtained from the Platform.

4.5

Except as expressly indicated herein, the Company hereby grants You a non-exclusive, freely revocable (upon notice from the Company), non-transferable access to view any Content available on the Platform, subject to the following conditions:

  1. You may access the Content solely for personal or informational purposes, in accordance with the Terms;

  2. You may not modify or alter the Content available on the Platform;

  3. You may not distribute or sell, rent, lease, license or otherwise make any Content on the Platform available to others; and

  4. You may not remove any text, copyright or other proprietary notices contained in the Content downloaded from the Platform.

5. Intellectual Property Rights

5.1

The Platform and the processes, and their selection and arrangement, including but not limited to, all text, reports generated, videos, graphics, user interfaces, visual interfaces, sounds and music (if any), artwork and computer code (and any combinations thereof) (collectively, the “Content”) on the Platform is owned and controlled by the Company and the design, structure, selection, coordination, expression, look and feel and arrangement of such Content is protected by copyright, patent and trademark laws, and various other intellectual property rights. You are not entitled to duplicate, distribute, create derivative works of, display, or commercially exploit the Content, features or facilities, directly or indirectly, without Our prior written permission. If You would like to request permission in respect of any particular Content, You can contact Us in the manner provided for herein.

5.2

The trademarks, logos and service marks displayed on the Platform (“Marks”) are the property of the Company or other respective third parties, as the case may be. You are not permitted to use the Marks without the prior consent of the Company or the third party that may own the Marks.

6. Disclaimer of Warranties & Liability

6.1

You expressly understand and agree that, to the maximum extent permitted by applicable law:

  1. the Platform and other Content are provided by the Company on an “as is” basis without warranty of any kind, express, implied, statutory, or otherwise, including the implied warranties of title, non-infringement, merchantability, or fitness for a particular purpose. Without limiting the foregoing, the Company makes no warranty that (i) the Platform or Services will meet Your requirements or Your use of the Platform will be uninterrupted, timely, secure or error-free; (ii) the results that may be obtained from the use of the Platform will be effective, accurate or reliable; and (iii) any errors or defects in the Platform will be corrected. No advice or information, whether oral or written, obtained by You from the Company shall create any warranty not expressly stated in the Terms.

  2. Company will have no liability related to any user Content arising under intellectual property rights, libel, privacy, publicity, obscenity, or other laws. Company also disclaims all liability with respect to the misuse, loss, modification, or unavailability of any user Content.

  3. Company will not be liable for any loss that You may incur as a consequence of unauthorized use of Your Account or Account information in connection with the Platform either with or without your knowledge.

  4. Company has endeavoured to ensure that all the information on the Platform is correct, but the Company neither warrants nor makes any representations regarding the quality, accuracy or completeness of any data, information regarding the Services or otherwise. The Company shall not be responsible for the delay or inability to use the Platform or related functionalities, the provision of or failure to provide functionalities, or for any information, software, functionalities and related graphics obtained through the Platform, or otherwise arising out of the use of the Platform, whether based on contract, tort, negligence, strict liability or otherwise. Further, the Company shall not be held responsible for non-availability of the Platform during periodic maintenance operations or any unplanned suspension of access to the Platform that may occur due to technical reasons or for any reason beyond the Company’s control. You understand and agree that any material or data downloaded or otherwise obtained through the Platform is done entirely at Your own discretion and risk, and that You will be solely responsible for any damage to Your computer systems or loss of data that results from the download of such material or data.

  5. These Terms are intended for Users within the territory of India and govern Your rights as per applicable law within the territory of India. However, in the event You fall under a jurisdiction outside the purview of Indian law, We will not be liable for any claim, action and/or right initiated/exercised by You as per the extant laws of that jurisdiction. Therefore, We request You to kindly use the Platform accordingly.

  6. The partnered financial institution is responsible for the decision on the loan and financial assistance, i.e., for approval or rejection of Your application. The Company is not liable or responsible in any manner for any loss or damage caused to You in relation to such decision of the respective partnered institution.

7. Indemnification and Limitation of Liability

7.1

You agree to indemnify, defend and hold harmless the Company and its affiliates including but not limited to its (and its affiliates’) officers, directors, consultants, agents and employees (“Indemnitees”) from and against any and all losses, liabilities, claims, damages, demands, costs and expenses (including legal fees and disbursements in connection therewith and interest chargeable thereon) asserted against or incurred by the Indemnitees that arise out of, result from, or may be payable by virtue of, any breach or non-performance of any representation, warranty, covenant or agreement made or obligation to be performed by You pursuant to these Terms and/or the Privacy Policy. Further, You agree to hold the Indemnitees harmless against any claims made by any third party due to, or arising out of, or in connection with, Your use of the Platform, any misrepresentation with respect to the data or information provided by You, Your violation of the Terms, and/or the Privacy Policy, Your violation of applicable laws, or Your violation of any rights of another, including any intellectual property rights.

7.2

In no event shall the Company and its officers, partners, consultants, agents and employees, be liable to You or any third party for any special, incidental, indirect, consequential or punitive damages whatsoever, arising out of or in connection with Your use of or access to the Platform or Content on the Platform.

7.3

The limitations and exclusions in this Section apply to the maximum extent permitted by applicable laws.

8. Violation of the Terms

8.1

You agree that any violation by You of these Terms will constitute an unlawful and unfair business practice, and will cause irreparable harm to the Company, for which monetary damages would be inadequate, and You consent to the Company obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that the Company may have at law or in equity.

9. Suspension and Termination

9.1

The Terms will continue to apply until terminated by either You or the Company as set forth below. If You object to the Terms or are dissatisfied with the Platform, your only recourse is to (i) close Your Account on the Platform; and/or (ii) stop accessing the Platform.

9.2

The Company may delist You or block Your future access to the Platform or suspend or terminate Your Account if it believes, in its sole and absolute discretion that You have infringed, breached, violated, abused, or unethically manipulated or exploited any term of these Terms or the Privacy Policy or anyway otherwise acted unethically. Notwithstanding anything in this clause, these Terms will survive indefinitely unless and until the Company chooses to terminate them.

9.3

If You or the Company terminate Your use of the Platform, the Company may delete any Content or other materials relating to You and the Company shall have no liability to You or any third party for doing so. However, Your transactions details may be preserved by the Company for purposes of tax or regulatory compliance.

9.4

You shall be liable to pay any fees or charges as may be applicable in respect of the Services until the date of termination by either party whatsoever.

10. Governing Law and Jurisdiction

10.1

These Terms shall be governed by and constructed in accordance with the laws of India without reference to conflict of laws principles and disputes arising in relation hereto shall be subject to the exclusive jurisdiction of courts at Bangalore, Karnataka, India.

11. Report Abuse

11.1

In the event You come across any abuse or violation of these Terms or if You become aware of any objectionable content on the Platform, please report the same to the following e-mail id: grievance@niro.money.

12. Communications

12.1

You hereby expressly agree to receive communications by way of calls (including using pre-recorded messages or artificial voice), SMS, emails and/or WhatsApp from the Company and other third parties duly authorized by the Company. You certify, warrant and represent that the telephone numbers and/or email addresses and any other information that You have provided to Us are Your own and are true, accurate, current and complete. You agree to notify Us whenever You stop using a particular telephone number(s) and/or email address(es). You can unsubscribe or opt-out from receiving communications through calls, SMS, e-mail, and WhatsApp anytime by writing to Us at unsubscribe@niro.money. In which case, the Company will only send You communications solely required for the purposes of the Services provided through the Platform.

13. Grievance Redressal Mechanism

13.1

Grievance Handling: If You have any grievances, or complaints or concerns with respect to the Platform, the Content, or the Services, You can contact the designated Grievance Officer of the Company, namely, Sankalp Mathur, at grievance@niro.money.

13.2

By lodging a complaint or grievance, You agree to provide complete support to the Grievance Officer and such reasonable information as may be sought by them from You.

14. General Provisions

14.1

Notice: All notices from the Company will be served by email to Your registered email address or by general notification on the Platform.

14.2

Assignment: You cannot assign or otherwise transfer the Terms, or any rights granted hereunder to any third party. The Company’s rights under the Terms are freely transferable by the Company to any third party without the requirement of seeking Your consent.

14.3

Severability: If, for any reason, a court of competent jurisdiction finds any provision of the Terms, or any portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties as reflected by that provision, and the remainder of the Terms shall continue in full force and effect.

14.4

Waiver: Any failure by Company to enforce or exercise any provision of the Terms, or any related right, shall not constitute a waiver by Company of that provision or right.

15. IP Infringement

15.1

If You believe the Platform violates Your intellectual property, You must promptly notify Company in writing at grievance@niro.money. These notifications should only be submitted by the owner of the intellectual property or an agent authorized to act on his/her behalf. However, any false claim by You may result in the termination of Your access to the Platform. You are required to provide the following details in Your notice:

  1. the intellectual property that You believe is being infringed;

  2. the item that You think is infringing and include sufficient information about where the material is located on the Platform;

  3. a statement that You believe in good faith that the item You have identified as infringing is not authorized by the intellectual property owner, its agent, or the law to be used in connection with the Platform;

  4. Your contact details, such as Your address, telephone number, and/or email;

  5. a statement that the information You provided in Your notice is accurate, and that You are the intellectual property owner or an agent authorized to act on behalf of the intellectual property owner whose intellectual property is being infringed; and

  6. Your physical or electronic signature.

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