Terms of Service

1. Definitions

In these Terms, the following definitions apply:

• "Platform" means the AbleCredit website, mobile application, APIs, dashboards, and all associated products and services.
• "Lender" means any bank, NBFC, or other regulated financial entity that licenses the Platform.
• "Field User" / "Credit Officer" means any employee, agent, or contractor of a Lender who uses the Platform to collect or process Borrower Data.
• "Borrower" means any individual or business entity whose data is collected via the Platform in connection with a credit assessment.
• "Borrower Data" means all information — including voice/audio recordings, video, images, business documents, geo-location, and behavioural data — captured through the Platform.
• "AI Outputs" means risk scores, credit appraisal memos, insights, or other machine-generated recommendations produced by the Platform's models.
• "Recorded Session" means any audio or audio-visual recording of a financial conversation between a Borrower and a Field User captured through the Platform.
• "IT Rules" means the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 as amended by the Amendment Rules, 2026.
• "Intermediary" has the meaning assigned under Section 2(1)(w) of the Information Technology Act, 2000.

2. Eligibility

By using the Platform, You represent that You:

• Are at least 18 years of age and legally competent to enter into these Terms;
• Are authorised by a licensed Lender (or directly by the Company) to access the Platform;
• Are using the Platform for business purposes within India.

Use of the Platform from jurisdictions outside India is at the user's own risk and subject to compliance with applicable local laws.

3. Intermediary Status and Compliance with IT Rules

The Company qualifies as an intermediary under Section 2(1)(w) of the Information Technology Act, 2000. In accordance with its obligations under the IT Rules, the Company:

• Has published these Terms of Service and a Privacy Policy, which are prominently published on the Company's website and accessible to all users prior to Platform use (Rule 3(1)(a));
• Informs users of prohibited content and activities (see Section 5);
• Informs users, at least once every three months, of the consequences of non-compliance with these Terms, the Privacy Policy, and its rules and regulations (Rule 3(1)(c); see Section 5.5);
• Informs users, at least once every year, of its rules and regulations, Privacy Policy, and these Terms, and of any changes thereto (Rule 3(1)(f); see Section 16);
• Removes or disables access to unlawful information within 3 hours of receiving actual knowledge by way of a court order or a reasoned written intimation from an authorised Government officer (Rule 3(1)(d); see Section 5.2);
• Preserves information that has been removed or to which access has been disabled, along with associated records, for 180 days for investigation purposes (Rule 3(1)(g); see Section 5.3);
• Provides information or assistance to lawfully authorised Government agencies within 72 hours of receipt of a written order (Rule 3(1)(j); see Section 5.4);
• Has designated a Grievance Officer for the redressal of user complaints (see Section 13);
• Acknowledges complaints within 24 hours and resolves them within 7 days; resolves complaints seeking removal of prohibited content within 36 hours; and removes content relating to nudity, sexual content, or impersonation (including artificially morphed images) within 2 hours of receipt of a complaint (Rule 3(2); see Section 13);
• Retains Borrower Data and ICT system logs for the periods prescribed under applicable law (including Rules 3(1)(g) and 3(1)(h) of the IT Rules) and in accordance with the Company's Data Retention Policy;
• Stores all Borrower Data and Platform data on servers located exclusively within India;
• Conducts periodic security audits through CERT-In empanelled auditors.

The Company acts as a data processor in respect of Borrower Data. The Lender is the data fiduciary for DPDPA purposes and is responsible for ensuring that Borrowers are appropriately informed of and consent to data collection prior to any assessment.

4. Licence and Acceptable Use

The Company grants You a non-exclusive, non-transferable, revocable licence to access and use the Platform strictly in accordance with these Terms and any Master Service Agreement ("MSA") between the Company and the Lender.

You shall not:

• Copy, modify, decompile, reverse engineer, or create derivative works of the Platform or any part thereof;
• Upload, transmit, or store any virus, malicious code, or content that infringes the intellectual property or other rights of any third party;
• Use the Platform for any purpose other than authorised credit assessment;
• Resell, sub-license, or provide unauthorised third-party access to the Platform;
• Attempt to circumvent any access controls, security measures, or authentication mechanisms.

5. Prohibited Content, Takedown, and User Obligations

5.1 Prohibited Content

In accordance with Rule 3(1)(b) of the IT Rules, users are prohibited from hosting, displaying, uploading, modifying, publishing, transmitting, storing, updating, or sharing any information or content through the Platform that:

• (i) belongs to another person and to which the user does not have any right;
• (ii) is obscene, pornographic, paedophilic, invasive of another's privacy (including bodily privacy), insulting or harassing on the basis of gender, libellous, defamatory, racially or ethnically objectionable, relating to or encouraging money laundering or gambling, or promoting enmity between different groups on the grounds of religion or caste with the intent to incite violence;
• (iii) is harmful to children, including content that encourages, solicits, or promotes harm to minors;
• (iv) infringes any patent, trademark, copyright, or other proprietary rights;
• (v) deceives or misleads the addressee about the origin of the message, or knowingly and intentionally communicates any misinformation or information which is patently false, untrue, or misleading in nature, including false representations about a Borrower's financial status;
• (vi) impersonates another person or entity, or falsely represents a professional qualification or identity;
• (vii) 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 to any other nation;
• (viii) contains software viruses, worms, Trojan horses, or any other computer code, file, or program designed to interrupt, destroy, or limit the functionality of any computer resource;
• (ix) is in the nature of an online game that is not verified as a permissible online game;
• (x) is in the nature of an advertisement or surrogate advertisement or promotion of an online game that is not a permissible online game, or of any online gaming intermediary offering such an online game;
• (xi) violates any law for the time being in force.

Users are further prohibited from creating, hosting, or sharing Synthetically Generated Information (as defined under Rule 2(1)(wa) of the IT Rules) that is unlawful or violates applicable law.

The Company reserves the right to remove or disable access to any content that violates these provisions, without prior notice, and to report such conduct to law enforcement authorities where required by law.

5.2 Removal on Actual Knowledge

In accordance with Rule 3(1)(d) of the IT Rules, upon receiving actual knowledge in the form of an order by a court of competent jurisdiction, or a reasoned written intimation by an authorised officer of the appropriate Government or its agency, the Company will remove or disable access to the unlawful information hosted, stored, or published on the Platform within three (3) hours of receipt of such order or intimation.

5.3 Preservation of Removed Information

In accordance with Rule 3(1)(g) of the IT Rules, where the Company removes or disables access to any information — whether pursuant to Section 5.2, voluntarily on account of a violation of Section 5.1, or on the basis of a grievance received under Section 13 — the Company will, without vitiating the evidence in any manner, preserve such information and associated records for a period of one hundred and eighty (180) days for investigation purposes by the relevant authorities, or for such longer period as may be required by a court or by a lawfully authorised Government agency.

5.4 Assistance to Government Agencies

In accordance with Rule 3(1)(j) of the IT Rules, upon receipt of a written order from a lawfully authorised Government agency, the Company will provide information under its control or possession, or assistance, within seventy-two (72) hours of receipt of such order, for the purposes of verification of identity, or for the prevention, detection, investigation, or prosecution of offences under any law for the time being in force, or for cyber security incidents. Every such order must clearly state the purpose for which the information or assistance is sought.

5.5 Quarterly User Notification

In accordance with Rule 3(1)(c) of the IT Rules, the Company will, at least once every three months, inform all users of the Platform — by email to their registered email address and/or by a prominent notice on the Platform — that:

• in case of non-compliance with the Company's rules and regulations, the Privacy Policy, or these Terms, the Company has the right to terminate the user's access or usage rights to the Platform immediately, or remove non-compliant information, or both;
• where such non-compliance relates to the creation, hosting, or sharing of information in violation of any law, the user may be liable to penalty or punishment under the Information Technology Act, 2000 or any other applicable law; and
• where such non-compliance relates to the commission of an offence mandatorily reportable under applicable law, including the Bharatiya Nagarik Suraksha Sanhita, 2023 or the Protection of Children from Sexual Offences Act, 2012, the Company will report such offence to the appropriate authority in accordance with law.

6. Consent for Recorded Sessions

The Platform records audio and/or audio-visual conversations between Borrowers and Field Users / Credit Officers for the purpose of credit appraisal ("Recorded Sessions"). The following consent obligations apply:

6.1 Obligations of Field Users / Credit Officers

• You must ensure that the Borrower is clearly informed, before any session commences, that the conversation will be recorded, the purpose of the recording, and their right to decline;
• You must not initiate or permit the recording of any conversation without the Borrower's affirmative consent, as prompted by the Platform at session initiation;
• You acknowledge that by proceeding with a session on the Platform, you are confirming that the Borrower has provided the required consent.

6.2 Platform Consent Mechanism

• The Platform presents an explicit on-screen consent prompt to the Borrower at the commencement of each Recorded Session;
• The prompt clearly identifies: (a) that the session will be recorded; (b) the purpose; (c) who will have access; and (d) the Borrower's right to decline;
• A session cannot proceed unless both the Borrower and the Field User have affirmatively confirmed consent through the Platform interface;
• All consent records are timestamped and stored as part of the audit trail.

6.3 Obligations of Lenders

• Lenders are responsible for ensuring their Field Users comply with this Section and with applicable data protection law;
• Lenders must not instruct Field Users to circumvent the Platform's consent mechanism.

7. Data Rights and Privacy

• Ownership: Borrower Data remains the property of the Lender or Borrower (as applicable). The Company acts as a data processor and does not claim ownership of Borrower Data.
• Usage: The Company may process Borrower Data to provide and improve Platform services, to improve AI models (in anonymised or aggregated form only), and to comply with legal obligations.
• Data Localisation: All Borrower Data and Platform data is stored exclusively on servers located within India.
• Retention: Borrower Data is retained in accordance with the Company's Data Retention Policy and applicable law, including Rules 3(1)(g) and 3(1)(h) of the IT Rules. Upon written request (subject to regulatory and contractual obligations, including the preservation obligations in Section 5.3), the Company will delete or anonymise personal data.
• Security: The Company operates an ISO 27001-aligned ISMS and implements encryption, access controls, and regular security audits. No system is 100% secure; users acknowledge the inherent risks of internet transmission.

Please refer to the Privacy Policy for a complete description of data collection, use, storage, and retention practices.

8. AI Outputs and Professional Judgment

AI Outputs generated by the Platform are recommendations only. All final credit decisions rest with the Lender's authorised personnel. The Company disclaims all liability for any decision taken solely on the basis of AI Outputs without independent human review and validation by the Lender.

The Company does not make lending decisions and is not responsible for the outcome of any credit assessment or lending transaction.

9. Third-Party Integrations

The Platform may integrate with credit bureaus, Account Aggregators, or other authorised third-party APIs to facilitate Lender workflows. The Company does not control third-party services and is not responsible for their content, availability, or downtime. Users should review applicable third-party terms and policies.

10. Fees and Payment

Applicable subscription or usage fees are governed by the MSA between the Company and the Lender. Failure to pay applicable fees may result in suspension or termination of Platform access.

11. Intellectual Property

All software, algorithms, AI models, documentation, trademarks, trade secrets, and other intellectual property on the Platform are owned by the Company or its licensors. These Terms do not transfer any ownership rights. You acquire only the limited licence granted under Section 4.

12. Disclaimer of Warranties and Limitation of Liability

THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE." THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. THE COMPANY DOES NOT WARRANT THAT THE PLATFORM WILL BE ERROR-FREE, UNINTERRUPTED, OR THAT AI OUTPUTS WILL BE ACCURATE OR COMPLETE.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE COMPANY SHALL NOT BE LIABLE FOR (i) INDIRECT, INCIDENTAL, PUNITIVE, SPECIAL, OR CONSEQUENTIAL DAMAGES, OR (ii) AGGREGATE DAMAGES EXCEEDING THE FEES PAID TO THE COMPANY IN THE 12 MONTHS IMMEDIATELY PRECEDING THE CLAIM.

13. Grievance Redressal

In accordance with Rule 3(2) of the IT Rules, the Company has designated the following Grievance Officer for the purpose of addressing complaints from users of the Platform:

All complaints must be submitted in writing to the email address above. The Grievance Officer will acknowledge receipt within 24 hours and resolve the complaint within the applicable timeline:

• General complaints: resolved within 7 days of receipt.
• Requests for removal of prohibited content: where a complaint requests the removal of information or a communication link relating to any information prohibited under Section 5.1 (other than sub-clauses (i), (iv) and (xi) thereof), the complaint will be acted upon and resolved within 36 hours of receipt.
• Nudity, sexual content and impersonation: where a complaint is made by an individual, or any person on their behalf, in relation to content which prima facie exposes the private area of such individual, shows such individual in full or partial nudity, shows or depicts such individual in any sexual act or conduct, or is in the nature of impersonation in an electronic form, including artificially morphed or synthetically generated images of such individual, the Company will take all reasonable and practicable measures to remove or disable access to such content within 2 hours of receipt of the complaint.

Where additional time is required to resolve a general complaint, the complainant will be informed in writing. If You are not satisfied with the Grievance Officer's resolution, You may escalate the matter to the relevant regulatory authority or pursue other legal remedies available under Indian law.

14. Indemnification

You agree to indemnify, defend, and hold harmless the Company and its directors, officers, employees, and agents from and against any loss, liability, claim, damage, or expense (including reasonable legal fees) arising out of: (a) Your misuse of the Platform; (b) Your violation of these Terms; (c) Your infringement of any third-party right; or (d) any breach by You of applicable law, including data protection and KYC/AML obligations.

15. Suspension and Termination

The Company may suspend or terminate Your access to the Platform immediately and without prior notice if You: (a) breach these Terms; (b) violate applicable law; (c) pose a security risk to the Platform or other users; or (d) the Lender's MSA is terminated.

Upon termination, all licences granted under these Terms cease immediately, and You must stop using the Platform. Sections 3, 5, 7, 10, 11, 12, 13, and 14 survive termination.

16. Modifications to Terms and Annual User Notification

The Company may update these Terms at any time. Material changes will be notified via email or prominent Platform banner at least 7 days before taking effect. Continued use of the Platform after the effective date constitutes acceptance. If You do not agree to the updated Terms, You must discontinue use.

In accordance with Rule 3(1)(f) of the IT Rules, the Company will, at least once every year, inform all users of the Platform — by email to their registered email address and/or by a prominent notice on the Platform — of its rules and regulations, the Privacy Policy, and these Terms, and of any changes thereto.

17. Governing Law and Dispute Resolution

These Terms are governed by the laws of India. The courts of Bengaluru, Karnataka shall have exclusive jurisdiction over any dispute arising from or related to these Terms.

Disputes may first be referred to arbitration under the Arbitration and Conciliation Act, 1996 (one neutral arbitrator mutually agreed by the parties, or appointed by the relevant institution; proceedings in English; seat: Bengaluru, Karnataka). Arbitration is not a mandatory precondition to seeking injunctive or emergency relief in a court of competent jurisdiction.

18. General Provisions

• Force Majeure: The Company is not liable for delays or failures in performance arising from events beyond its reasonable control.
• Assignment: You may not assign Your rights or obligations under these Terms without prior written consent of the Company. The Company may assign to an affiliate or in connection with a merger, acquisition, or business transfer.
• Severability: If any provision of these Terms is held invalid or unenforceable, the remaining provisions continue in full force.
• Entire Agreement: These Terms, the MSA (if applicable), and the Privacy Policy constitute the entire agreement between the parties in relation to the Platform and supersede all prior agreements.
• Waiver: Failure to enforce any provision of these Terms does not constitute a waiver of the right to enforce it subsequently.

Contact

Lightbees Technologies Private Limited (operating as AbleCredit)
HD-093, WeWork Salarpuria Symbiosis, Arekere Village, Bannerghatta Road, Bengaluru – 560076, Karnataka, India
Email: [email protected]