Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦Welcome to Batas Hire Purchase!! — We are working on the betterment of the services and making the finance reach to all.✦
Legal

Privacy Policy

How we collect, use, and protect your information

Batas Hire Purchase Pvt. Ltd. ("we," "us," or "our"), operating hire purchase and financial services and the mobile application including the services, under the brand name "Siddhartha neo fin -By Batas," is committed to protecting your privacy and ensuring the security of your personal and financial information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you access our services through our website, mobile applications, and APIs (collectively, the "Services").

By using our Services, you agree to the collection and use of your information in accordance with this Privacy Policy and the Privacy Act, 2075 (2018 AD) of Nepal.

1. Information We Collect

To provide secure hire purchase facilities and comply with Nepal Rastra Bank (NRB) directives, we collect:

1.1 Information You Provide Directly

  • Identity Information: Full name, date of birth, gender, nationality, and father's/grandfather's and spouse's name (as required for financial credit).
  • Contact Information: Mobile number, telephone number, email address, and permanent/temporary residential, office and business addresses.
  • Government-Issued IDs: Citizenship certificate, National Identity Card, Passport, Voter's Identity Card and/or Driving License for mandatory KYC verification.
  • Financial & Employment Data: PAN number, bank account statements, salary slips, occupation details, digital wallets statements, and credit history required for hire purchase eligibility.
  • KYC Documentation: Live selfies for biometric liveness checks and digital copies of original identification documents.

1.2 Information Collected Automatically

  • Usage & Device Data: IP address, device model, operating system, and unique device identifiers.
  • Location Data: Precise geographical location (with your consent) to verify the point of transaction and for fraud prevention within Nepal's jurisdiction.

1.3 Sensitive Information

  • Biometric Data: Fingerprints or facial recognition data, used only if you enable biometric authentication for app access.
  • Transaction Data: Details of your EMI payments, loan disbursements, and repayment schedules.

2. How We Use Your Information

We use your information to:

  • Provide Services: Evaluate creditworthiness, process hire purchase applications, and manage your financing account.
  • Legal Compliance: Strictly adhere to KYC, Anti-Money Laundering (AML), and Counter-Terrorism Financing (CFT) regulations as mandated by NRB and applicable laws of Nepal.
  • Security: Detect and prevent fraudulent loan applications, unauthorized access, or suspicious financial behavior.
  • Communication: Send EMI reminders, transaction alerts, and updates regarding your credit status.
  • Internal Analysis: Improve our credit scoring models and perform risk management audits.

3. Sharing and Disclosure of Information

We treat your information as strictly confidential. We share it only under these conditions:

  • Credit Information Bureau (CIB) of Nepal: Reporting credit history and seeking credit reports as required by law.
  • Nepal Rastra Bank: During regulatory audits or as part of periodic reporting.
  • Financial Partners: Banks or payment gateways used to facilitate your EMI repayments.
  • Legal Enforcement: When required by the laws of Nepal to protect the rights and safety of the Company or our users.
  • No Third-Party Sale: We do not sell, rent, or trade your personal information to third parties for marketing purposes.

4. Security of your Information

Protecting your financial data is our highest priority. We implement:

  • Encryption: SSL/TLS encryption for all data in transit between your device and our servers.
  • Access Control: Multi-factor authentication (MFA) and PIN-protected access to the Siddhartha neo fin app.
  • Secure Storage: Sensitive data is stored in encrypted databases with restricted access.
  • Monitoring: Continuous monitoring for unauthorized attempts to access our systems.

5. Data Retention

In accordance with NRB regulations and the Privacy Act, 2075:

  • We retain your KYC and transaction data for the duration of your business relationship with us.
  • Post-account closure, data is retained for a minimum of 5 to 10 years (or as specified by NRB and applicable laws of Nepal) to comply with AML/CFT record-keeping laws.

6. Your Rights

You have the right to access, update, or correct your personal information. If you wish to close your account or withdraw consent, please note that we may still be required to retain certain data to fulfill our legal and regulatory obligations to the central bank and laws of Nepal.

7. Change to This Policy

We may update this Privacy Policy to reflect changes in technology or NRB regulations. We will notify you of any significant changes via the app, email or public notices.

8. Contact Us

For questions or to reach our Grievance Handling Officer:

Batas Hire Purchase Pvt. Ltd.

  • Email: complaints@batashirepurchase.com
  • Address: 4th Floor, Premier Bhawan, Narayanchaur, Naxal, Kathmandu, Bagmati Province, Nepal
  • Phone: 01 4541128/ 01 4541129

This Privacy Policy is governed by the laws of Nepal. Batas Hire Purchase Pvt. Ltd. operates under the regulatory framework of Nepal Rastra Bank (NRB) and complies with all applicable data protection regulations.