Laxmi Bank

Shri Laxmikrupa Urban Co-op. Bank Limited (the bank) understands the expectations of its customers with regard to privacy, confidentiality and security of customers' personal information which bank collects and stores. The bank is committed to protecting customers' information. The bank has adopted this Privacy Policy so that customers understand how bank collect, use, retain, disclose and protect information when customers use bank's services.

Objective :

To ensure security of customers' data
To comply with law or regulatory standards
To ensure staff is aware of responsibility of customer information.

Scope :

The policy is applicable to all staff and vendors.The policy is applicable to persona information collected by the bank when customer uses bank's services.

Policy :

Bank will ensure security of customer sensitive data that it collects whether in transit or at rest.

What Customer Information bank collects?

Bank collects personal information

Name
Postal address
Email address
Telephone
Mobile numbers
Account numbers
KYC details
Details needed to apply for a loan

How does bank collect information?

Bank collects personal information when customer

Opens account
Perform transactions
Apply for a loan

Bank shall collect only information which is needed

How does bank use customers' information ?

Bank collects personal information when customer

Opens account
Perform transactions
Apply for a loan

Bank shall collect only information which is needed

How does bank use customers' information ?

Bank shall ensure that the provider of the personal information has the knowledge of usage of the information and ensure that the information is used only for intended purpose.

Bank may use Personal Information

To help customers to obtain services
For verification of customer's identity
To evaluate eligibility of the customers for services applied
To send information regarding changes to terms, conditions, and policies or any other information related to services obtained by customer
To send some marketing information

Will bank modify customers' information?

Bank will update the customer data only after authentic request from customer. It is customers responsibility to ensure the information provided to the bank is correct.

How is information retained?

Bank will not keep any sensitive personal data for longer than required purpose.

Data shall be retained as per directions from management or as per regulatory requirements.

Will bank share customers' Information?

Bank shall ensure that the provider of the information is fully aware about the third parties with whom personal information is shared for business/regulatory purpose.

Bank never publishes any sensitive personal information obtained from the provider of the information.

How customers' information is protected?

Bank will store customers' data to secured database and the procedures are in place to ensure that there is no unauthorized access. Bank will place proper controls so that there is no loss or misuse of data.

All staff and vendor involved in processing personal data will receive training related to data protection.The training will include data protection requirements as per law and consequences in case of data leakage.

Bank conducts System Audits to assess the risks and takerisks.

Changes to Privacy Policy:

Bank may change Privacy Policy.

Contacting bank:

In case of queries related to customer information, customer may write to shrilaxmikrupabank@gmail.com or call (020)25410888.

Auto Read OTP functionality:

It is recommended that each process of OTP validation shall have auto read facility of OTPin the Mobile application.Whenever the OTP send to the customer, mobile app shall auto populate the OTP in the required field instead of entering by keyboard.

SMS forwarding App / Remote access App:

It is recommended that; the Mobile Application can have an ability toidentify the “SMS forwarding Apps” aswell as “Remote Access Apps”
installed on the User’s handset.Based on the “AppID” of these kindof Apps,Mobile App shall restrict
the users to access the login tothe application if user have installed the listed apps.

SMS Delivery status facility:

SMS vendor should have Call back facility available to verify the status of SMS send from our end, also SMS vendor have “SMS Delivery receipt check” to know the delivery status of the SMS forwarded from our end.

This Privacy Policy describes how Mobile banking app collects, uses, and protects the information you provide when using the SMS autofill feature in our services.

Information We Collect:

Mobile banking app may collect and process the following information:

SMS Content:Mobile banking app may access and analyze the content of SMS messages to provide autofill suggestions for relevant information such as OTPs (One-Time Passwords) or transaction details.
Metadata:We may collect metadata associated with SMS messages, such as sender information, timestamps, and message status.
Usage Data:Mobile banking app may collect data related to your use of the SMS autofill feature.

Information We Collect:

Improving Autofill Accuracy:We use the information collected to improve the accuracy and relevance of autofill suggestions provided to you.
Security and Fraud Prevention:We use the information to enhance the security of SMS autofill and prevent fraudulent activities.

Sharing of Information:

Bank does not share your SMS autofill data with third parties except as described in this Privacy Policy or with your explicit consent.

Data Retention:

We retain SMS autofill data only for as long as necessary to fulfill the purposes outlined in this Privacy Policy or as required by law.

Security and confidentiality of Customer Data

As per Information Systems security policies and procedures implemented in the Bank, Bank has implemented administrative, physical and technical safeguards to protect electronic personal data from loss, misuse and unauthorized access. Customers’ personal data shall be stored on a secured database.

Bank shall not sell personal data to any third party or anybody and shall remain fully compliant with confidentiality of the data as per law.

Bank shall share customers’ personal data to third party if required for business purpose only after implementing adequate controls to ensure maintenance of confidentiality and security of the data by the concerned third party.

Auto Read OTP functionality: -It is recommended that each process of OTP validation shall have auto read facility of OTP in the Mobile application. Whenever the OTP send to the customer, mobile app shall auto populate the OTP in the required field instead of entering by keypad.

SMS forwarding App / Remote access App: It is recommended that; the Mobile Application can have an ability to identify the “SMS forwarding Apps” as well as “Remote Access Apps” installed on the User’s handset. Based on the “AppID” of these kind of Apps, Mobile App shall restrict the users to access the login to the application if user have installed the listed apps.

SMS Delivery status facility: SMS vendor should have Call back facility available to verify the status of SMS send from our end, also SMS vendor have “SMS Delivery receipt check” to know the delivery status of the SMS forwarded from our end.

Mobile banking Application shall have ability to read/detect Installed Application on user’s device and upload it on bank’s secure server for keeping safe track of existing applications. App shall prohibit/restrict Mobile Banking Application usage incase of any listed application with likes of remote access applications and sms forwarder applications is detected.

By agreeing to terms within Mobile banking application and written consent form undertaken from user during opting mobile banking feature it will be considered user have provided affirmative consent for all above mention disclosures.

Policy

Security and confidentiality of Customer Data

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