Terms and Conditions

Terms and Conditions

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This mobile application (the “App”) is made available by Varthana Finance Private Limited., a Non Deposit taking NBFC registered with the Reserve Bank of India and having its registered office at No.5BC – 110, Varasiddhi, 3rd Floor, Service Road, Outer Ring Road, 3rd Block, HRBR Layout, Bengaluru, Karnataka – 560043 (Hereinafter referred to as “Varthana”) It uses the brand name Varthana to communicate with its Users. A Non–Banking Financial Company (NBFC) engaged in the business of providing financial assistance to the Educational Institutions / Students, under the Scheme of Secured / Unsecured Loans, has developed and solely owns a mobile software application called “Student Loans” (“App”which expression shall include future releases of the application). Company makes the App available for download and use on mobile phones to you as end-users of the App, subject to these Terms of Service. (Hereinafter referred to as “User/Applicant/Co-applicant/Customer”).

To avail of the Services, user have to follow and comply with the Guidelines as provided on the website of the Company at www.varthana.com (“Website”) for sales, marketing and information purposes only.

You, the user of the App, confirm your acceptance of these App Terms of use (“App Terms”). If you do not agree to these App Terms, you must immediately uninstall the App and discontinue its use. These App Terms should be read alongside our Privacy Policy.

General Terms

App and Related Terms :

Depending on the version of the Application you have downloaded, these App Terms incorporate Apple’s or Google Android’s terms and conditions and privacy policies (“Platform Terms”). If there is any conflict between these App Terms and the Platform Terms then these App Terms will prevail. We may from time to time vary these App Terms. Please check these App Terms regularly to ensure you are aware of any variations made by us. If you continue to use this App, you are deemed to have accepted such variations. If you do not agree to such variations, you should not use the App.

Use of the App and Acceptance of Terms :

User of the App must be at least 18 years of age and resident in India to use the App. The App enables users to obtain Student Loan credit facility (“Credit Facility”) from the Varthana. The App auto-tracks, organizes and analyses your transaction Information (as defined in these Terms) to present to you various credit products. The Varthana and/or the App may share the transaction Information with Affiliates and Company to which you hereby consent.

Varthana hereby grants you a non-exclusive, non-transferable, revocable licence to use the App for your personal use and only on an Apple or Android device (“Device”) as permitted by the applicable Platform Terms and in accordance with these App Terms (“User Licence”). All other rights in the App are reserved by Varthana. In the event of your breach of these App Terms we will be entitled to terminate the User Licence immediately. You acknowledge that where you use the services provided by Apple or Google (or any other third parties) in connection with your use of the App, you will be subject to Apple’s, Google’s (or the applicable third party’s) terms and conditions and privacy policy and you should ensure that you have read such terms.

Consents :

In addition to any consent you may give pursuant to the Privacy Policy, you hereby consent to the Varthana shall collect personal information that it believes to be relevant and required to understand the customer’s profiles and conduct its business. The Varthana shall treat all personal information of Applicant/Co-Applicant/Users/ Customers as private and confidential and shall not divulge any information to a third person unless required by any law or Government authorities including Regulators or Credit agencies or where the sharing of information is permitted by the Applicant/ Co-Applicant/ User/ Customer for the purpose of evaluating eligibility for a Credit Facility. If Varthana shall avail services of any third party for providing support services, Varthana shall require that such third parties handle customers’ personal information with the same degree of confidentiality.

Termination and Suspension :

Varthana may wish to stop providing the Services and may terminate use of the Platform at any time without giving notice of termination to You. Unless Varthana informs the User otherwise, upon any termination, (a) the rights and licenses granted to You in these Terms & Conditions will end; and (b) User must stop using the Platform. Varthana reserves the right to suspend or cease providing any Service and shall have no liability or responsibility to the User in any manner whatsoever if it chooses to do so.

Intellectual Property :

The Varthana name and logo, and other Varthana trademarks, service marks, graphics and logos used in connection with the App are trademarks of Varthana (collectively “Varthana Trademarks”). The Varthana Trademarks and Third Party Trademarks may not be copied, imitated or used, in whole or in part, without the prior written permission of Varthana or Third Party trademark holder. The App and the content featured in the App are protected by copyright, trademark, patent and other intellectual property and proprietary rights which are reserved to Varthana.

Amendment :

Varthana may, in its sole discretion, change or modify this T&C at any time, with or without notice. Such changes or modifications shall be made effective for all Users/Applicants/Co-applicants/Customers upon posting of the modified Agreement to the Platform. You are responsible to read this document from time to time to ensure that your use of the Services remains in compliance with this T&C.

I/We declare that all the particulars, supporting documents and information given in the Student Loan application Form are true, correct, complete and up to date in all respects as per our best knowledge and I/We have not withheld or misrepresented any information mentioned herein.

I/We hereby undertake to indemnify Varthana Finance Private Limited "Varthana" Herein after referred as Non-banking Finance Company) for any loss of data in any electronic format any losses or damages that may arise on account of any material misstatement, misrepresentation or gross negligence in providing the particulars, supporting documents and information herein.

I/We authorize Varthana Finance Pvt. Ltd and their business associates, agents, partners to exchange, share or part with all the information and authorize to verify any information such as enrollment, residence, employment, telephone verification details relating to my/our existing loans /financial assistance and/ or repayment history, companies, credit bureaus, business associates, agencies, statutory bodies etc, as may be required or as they may deem fit and shall not hold Varthana Finance Pvt. Ltd, (or any of its business associates, agencies, statutory bodies liable for use / sharing of information.

I/We confirm that I/we have had no insolvency proceedings or suits for recovery of outstanding dues whatsoever and/or any criminal proceeding have been initiated and/or are pending against me/us or no action nor other steps have been taken or legal proceedings started by or against me/us in any Court of law.

I/We acknowledge that the rate of interest on the applied loan to Varthana Finance Pvt.Ltd. is fixed and would be dependent upon market factors, which would be subject to change from time to time, and also include factors such as the students, co-applicants and guarantors risk profile, quality of collateral provided and other risk verification checks done as per norms.

I/We understand and acknowledge that Varthana Finance Pvt. Ltd, shall have the absolute discretion, without assigning any reasons may reject our application and the Varthana Finance Pvt. Ltd, not responsible / liable in any manner whatsoever to me / us for such rejection and any costs, losses, damages or expenses or other consequences caused by such rejection of our application.

I/we understand and acknowledge that in case of rejection of my/our application, documents submitted for the processing of my application shall not be returned to me/us.

I/We agree that the processing fees paid to the Varthana Finance Pvt. Ltd or collected upfront, shall not be refunded under any circumstances if my/our application for loan is rejected by the Company on any ground whatsoever.

I/We declare that I/We have not made any payment in cash, bearer cheque or kind along with or in connection with this application to the executive collecting my / our application I/We shall not hold Varthana Finance Pvt. Ltd, liable for any such payments made by us to the executive for collecting this application.

I /We undertake to inform Varthana Finance Pvt. Ltd, regarding any change in my/our occupation /employment/residence address.

I/We hereby undertake and provide my/our consent for sharing my/our details with Central KYC Registry.

I/We hereby consent for Varthana Finance Pvt. Ltd. to receive KYC information from Central KYC Registry or from UIDAI.

I/We undertake to inform that the funds shall be used for the purpose for which loan has been applied and will not be used for any improper/illegal/ unlawful purposes.

I/We unconditionally agree and accept that such data which is so provided and inconsistent may be construed as fraud/cheating/forgery/manipulation/fabrication of documents and agree that Varthana Finance Pvt. Ltd. shall have every right for reporting such Fraud to RBI and/or any other entities/authorities and shall have liberty to not to process your Student Loan application/rejecting the Student loan application and also taking the necessary action as suggested by the RBI/or any other entities/authorities.

I/We hereby authorize Varthana Finance Pvt. Ltd, its channel partners, agencies and/or affiliates to communicate with me/us by email, call, SMS, electronic communication using digital media and other channels or via any other means in relation to any of the products, services or information of Varthana Finance Pvt. Ltd. agendas and/or affiliates etc.

I/We confirm that laws in relation to the unsolicited communication referred in “National Do Not Call Registry (the NDNC Registry) as laid down by the TELECOM REGULATORY AUTHORITY OF INDIA will not be applicable for such communication/calls/SMS received from Varthana Finance Pvt. Ltd., it employees, agent. and/or associates.

I/We am/are aware that my/our loan account/facility is governed by various policies of the Varthana Finance Pvt.Ltd and other important information which are amended from time to time as per directives from RBI, and that the same can be accessed through the Company’s website i.e www.varthana.com.

I shall keep my credentials including the login id and password/PIN issued by Varthana and/or reset by me (“Credential”) as confidential and not to share the same with any person/third party. Any use or misuse of the credentials including the transactions carried out using the credentials shall be my sole responsibility and Varthana shall not be held responsible for any loss/damage incurred on account of such use or misuse.

Contact Us :

If you have any questions regarding our App, you can email us : [email protected] or call us at 080-68455777