Shree Mata Finance Private Limited

Term & Condition

Please read these terms carefully. By using this website you agree to bound by all of the terms and condtions of this agreement.

Thank you for visiting www.shreematafinance.com, by accessing or using the website or the app(“Website”), whether automated or otherwise, you, a registered or guest user in terms of the eligibility criteria set out herein (User) agree to be bound by these terms and conditions (“Terms of Use”) and any additional terms and conditions that are referenced below or otherwise may apply to specific areas of the Website, from time to time. We encourage our Users to read these Terms of Use carefully while using the Website.
If You Do Not accept the Terms and Conditions stated here, we would request you to exit this site.
The Website is owned and operated by Shree Mata Finance Private Limited. All references to Website in these Terms of Use shall deem to refer to the aforesaid entity in inclusion of the online portal.
All logos, brands, marks headings, labels, names, signatures, numerals, shapes or any combinations there of appearing in this site, except as otherwise noted, are properties either owned, or used under licence, by the business and / or its associate entities who feature on this Website. The use of these properties or any other content on this site, except as provided in these terms and conditions or in the site content, is strictly prohibited
The contents set out here in form an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable and as amended from time to time. As such, this document does not require any physical or digital signatures and forms a valid and binding agreement between the Website and the User. Further, please be advised that these Terms of Use are made available to the User pursuant
We reserve the right to change these Terms of Use at any time. The changes will be effective from the date and time of the posting of such changes. By continuing to use the Website after we post any such changes, you accept the Terms of Use as modified.

Customer Eligibility

Use of the Platform is available only to such persons who can legally contract under Indian Contract Act, 1872. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. shall not be eligible to use the Platform. If the person accessing the Platform is a minor. i.e., under the age of 18 (eighteen) years, such person shall not register as a Participant(s) of the Platform and shall not transact on or use the Platform.
The Platform reserves the right to terminate any membership and/or refuse to provide access to the Platform if it is brought to the Platform’s notice or if it is discovered that the individual accessing/using the Platform is under the age of 18 (eighteen) years.
By accepting the Terms of Use (www.shreematafinance.com), the Participant(s) irrevocably declares and undertakes that: (i) he/she is above 18 (eighteen) years of age; (ii) he/she/ it has the authority to enter into this Agreement; (ii) this Agreement is binding and enforceable against the Participant(s); (iii) execution of this Agreement by the Participant(s) does not conflict with any of the Participant(s)’s obligation under any Applicable Laws, contract or otherwise; and (iii) the Participant(s) has read, understood and agreed to abide by the Privacy Policy, which is available here (www.shreematafinance.com) and incorporated by reference (the “Privacy Policy”) in the website (iv) he / she understands that international flow of funds is not allowed.
The Participant(s) must have a rupee denominated savings/current account with a bank in India.
Participant(s) must have PAN (Permanent Account Number), allotted by Income Tax Department of India and/or Aadhaar or any other valid documents(OVD) as per RBI’s KYC Guidelines
By accepting the Terms of Use, Participants acknowledge that they have also read and understood the risks involved in lending and/or borrowing through the Platform.

General Rules

As indicated, any person may access the Website either by registering on the Website or using the Website as a guest. However, a guest user may not have access to all sections of the Website which shall be reserved only for the purpose of registered Users, and which may change from time to time at the sole discretion of the Website.
Visitors are prohibited from violating or attempting to violate the security of the Web site, including, without limitation, (1) accessing data not intended for such user or logging into a server or account which the user is not authorised to access, (2) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorisation,
sending unsolicited electronic mail, including promotions and/or advertising of products or services. Violations of system or network security may result in civil or criminal liability. The business and / or its associate entities will have the right to investigate occurrences that they suspect as involving such violations and will have the right to involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.
All eligible Users who wish/have to register themselves with the Website shall be required to create an account by filling in the details prescribed in the Website.
By applying for registration, the User agrees and authorizes Shree Mata Finance Private Limited to carry out such checks and verification. As part of the registration process:
we shall run identity, KYC, fraud checks. obtain a credit rating for Users from the Credit Information Bureau; carry out residence and/or work verification at your employment location;
If any User provides any information that is untrue, false, not updated, and incomplete or the Website has reasonable grounds to believe that such information is untrue, false, not updated, incomplete, the Website shall have the right to suspend or terminate the relevant User account and refuse any and all current or future use of the Website (or any portion thereof).

Use Of Website

To lend or borrow through the Website You must log on to www.shreematafinance.com
All registered Users of the Website shall be solely responsible for activities relating to the account and the Website or the entity operating the same shall not in any manner be held responsible and/or liable for any illegal acts including but not limited to misuse, un-authorized access, hacking of the Website or refusal to access the Website due to such reason.
All Website Users hereby confirm and acknowledge that they have been provided with copy of the loan agreement (“Loan Agreement”) to be entered between the Borrower and the Lender. All Users further confirm that have read and understood all the terms and conditions of the Loan Agreement and upon execution do hereby covenant and undertake to unconditionally abide by the same, without raising any defense of whatsoever nature in respect thereof.
If any User learns or is made or becomes aware of any instance of hacking or misuse of its Shree Mata Finance Private Limited Account, it shall without delay notify the Website of the same.
We can refuse to act on any instruction received from User that we believe: (a) was unclear; (b) was not given by the user; (c) might cause us to breach a legal or other duty; or (d) suggests that the Website is being used for an illegal purpose.
The Website disclaims, and the User waives off, any and all claims/liabilities arising out of any unlawful usage of the Website, the personal information of the User, inaccessibility of the Website for any reason whatsoever, which are caused owing to causes beyond the control of the Website. While the Website employs best efforts to ensure the aforesaid, it cannot guarantee the same. No User shall trade or sell such User accounts in any manner whatsoever.
The Website reserves the right to refuse or cancel any registration of its Users, remove any person from the Website and prohibit any person from using the Website for any reason whatsoever, and to limit or terminate such access to or use of the Website at any time without notice.

Terms, Conditions And Process For Lending

In case, the Lender wishes to lend, the Lender will have an option to select one or multiple Borrower’s Profile to whom the Registered Lender wishes to lend from various Borrower’s profile listed on the Website.
The Lender agrees to offer the first loan within 30 (Thirty) days from the date of registration as Lender.
Upon selecting the Borrower, the Registered Lender will transfer an amount equivalent to the amount that he/she wishes to lend (“Lending Amount”) in the Escrow Account through his bank account using RTGS/NEFT.
The Lender and Borrower will sign the Loan Agreement.
The lenders can either manually choose the loans where he/she wants to lend money. OR the lender can provide selection/filtering criteria of the loans on the basis of which the platform can match loans between the lender and borrowers in an equitable and non discriminatory manner.
The platform strictly follows the instructions passed by the registered lenders in terms of matching them with the available borrower/loans on the platform.
The platform cannot match the lenders and the borrowers unless the instructions are passed by the lender.
No Loans shall be disbursed unless the Borrower and the Platform on behalf of the Lender shall execute all such documents as may be required. The Platform shall execute the agreement on behalf of the Lender if the lender has given the explicit consent on the borrower filtering criteria and communicated the same in writing or via platform instructions.
to the borrower – details about the lender/s including proposed amount, interest rate offered but excluding personal identity and contact details;
The platform shall disclose to the lender (a) details about the borrower/s including personal identity, required amount, interest rate sought and credit score as arrived by the NBFC-P2P. (b) details about all the terms and conditions of the loan, including likely return, fees and taxes;
Charges and Fees: Platform shall be entitled to charge the fees and charges:

Terms And Conditions For Borrowing

A Borrower can borrow from the Website by posting a loan requirement through the Website and completing the application process.
During the registration process, you must also enter the details of your bank account for the purposes of repayments due to the Lender.
By posting Loan Request, you agree:
to provide us with certain additional Information which we will ask you for, and that if we discover that this additional information and/or the information you gave us during the application process was inaccurate or deficient in any respect, then the Loan Request will be void and we have the right to take appropriate actions against the Users.
to authorize us to check your credit rating from any of the Credit Information Bureau in India, which are required by us to assess the credibility of the repayments.
User acknowledges that Credit Information Bureau link together the records of the User and anyone that the User has advised as a financial associate (e.g. someone with whom you have a joint credit account) including previous and subsequent names of parties to the account. While assessing the credibility of your repayments, we may take into account information about your financial associates in your credit reference.
Any loan amount offered by any Lenders will be acceptable to the Borrower
The Borrower agrees to accept each of the loan offer that meets your borrowing criteria.
The Borrower agrees to sign and execute the loan agreements electronically or physically. In case of multiple loan agreements, the Website will provide you with a summary of loan availed in the Shree Mata Finance Private Limited Account.
Disbursement of Loan Proceeds upon execution of all the required documents and fulfillment of all conditions for disbursements, to the sole satisfaction of the Company, the borrowed amount will be credited to the account of the Borrower. The platform follows a rounding down approach during loan disbursement to the borrower for simplicity purposes

Settlement of payment

Any money received from the Borrower, including delay charges or late fees or penal charges or any other applicable charges, shall be kept in the Shree Mata Finance Private Limited Accounts.
These will be recorded as a credit to the Lender’s Shree Mata Finance Private Limited Account which you can see by logging on to Shree Mata Finance Private Limited Account.
All the collected repayments will be transferred to Lender’s Shree Mata Finance Private Limited account within 3 days of the receipt of the EMI from the borrower

Lender will be notified when his Shree Mata Finance Private Limited account balance reflects received EMIs
The Lender can choose to withdraw funds from his Shree Mata Finance Private Limited account to his registered bank account by giving an instruction to. The Lender will not earn any interest on the funds lying in his Shree Mata Finance Private Limited account.
For instance, if a borrower is paying EMI on 2nd of the month, the amount will be transferred to Lender’s Shree Mata Finance Private Limited account by the 5th of the month and Lender will not get any interest on such amount lying in his/her Shree Mata Finance Private Limited account
As a Borrower, you make your repayments due under loan agreements by direct debit to your bank account, which results in an initial credit and debit to your Loan Account on Shree Mata Finance Private Limited, and then credit in each relevant Lender’s lending account. The repayment amount shall be rounded up to the nearest whole number and the same shall be payable by the borrower. For eg, if the repayment amount comes to Rs. 3633.4, the borrower will be required to pay Rs. 3634.
Once the loan EMI and applicable delay penal charges are distributed to lenders of that respective loans, residual amount (if any), resulted due to rounding down of amounts to two decimals places, will be transferred to the platform as an adjustment amount.

Refund And Cancellation Policy

The borrowers can raise a refund request in case there is a double deduction of EMI for a due date. This normally happens when the payment is received by us via auto-debit mode and the borrower makes payment on their own. The request can be raised by writing to customer support at shreematafinance1@gmail.com within 2 (two) days of such debits from the account. If the request finds merit, the resolution shall be done within 3 (three) working days. If a refund is eligible, it shall be processed within 7 (seven) days of resolution. The customer may expect the fund in their account within 10 (ten) days from the date of refund.
In case of a payment failure, (where payment is not received by LenDenClub), but the amount is deducted from the customer’s bank account, it will be automatically refunded by the payment gateway as per their policy. The customer can reach out to the payment gateway’s customer support team for a speedy resolution in this case.
The lenders can raise a cancellation request within 24 hours from the time of their investment by writing to customer support at shreematafinance1@gmail.com. If the request finds merit and the loans in which investments are made are not disbursed, the support team shall resolve the request by cancelling the investment. In the event of successful cancellation, the invested amount shall be credited to the lender’s Shree Mata Finance Private Limited investment account.

Loan Administration

EMIs will start as per the date of disbursement of the loan. The Lender will start earning interest after 5 days of his investment in the loan or from the day of disbursement of the loan, whichever is earlier.
Any Borrower who wishes to prepay the loan can pre-pay the loan without any prepayment charges. For prepayment, please email us at shreematafinance1@gmail.com.
Missed repayments : In case a Borrower misses a repayment or anticipates that for any reason whatsoever the Borrower will not be able to repay as per the repayment schedule under the Loan Agreement, then the Borrower should promptly contact the Company by sending an email to shreematafinance1@gmail.com. Upon receipt, of the e- mail, we shall undertake the following actions:

explain the delay charges and options available with you
inform the relevant Lender regarding the same
inform if your account is being passed on to internal recovery team for further legal recovery as your loan has been classified under Default category.
Inform the Credit Information Bureau about the Borrower’s default in repayment. As a word of caution, we would like to inform you that this reporting may have serious consequences on your ability to avail any credit in the future.

Privacy And Data Protection

Service Communications

We understand your concerns of not sending unnecessary, calls, emails or SMS to you. There are some messages (“Service Messages”) that we will need to send you. These may be sent via email, post, call or text message and include notifications at various stage of your loan or investment.

Occasional Updates

When you register on Shree Mata Finance Private Limited you are offered the option to receive our occasional updates. These messages notify you about new features added on the Lending Platform, ask your opinion regarding various situations and services, and tell you about services you might not be using yet. If you decide you no longer want to receive these messages you can email us at shreematafinance1@gmail.com