Privacy Policy
Last updated: May 15, 2026 · Effective date: May 15, 2026
LoanLens AI Technologies Pvt. Ltd. ("LoanLens AI", "we", "us", or "our") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, share, and protect personal information when you use our AI-powered loan utilization verification platform.
1. Information We Collect
Personal Identification Data
We collect information you provide directly, including name, Aadhaar number (masked), PAN, mobile number, email address, and bank account details required for loan verification purposes under applicable government schemes.
Loan & Financial Data
We collect loan application details, disbursement records, utilization evidence (photographs, geo-tagged images), and repayment history as part of our verification services.
Device & Usage Data
We automatically collect device identifiers, IP addresses, browser type, operating system, pages visited, and interaction timestamps to improve platform performance and detect fraud.
Location Data
With your consent, we collect GPS coordinates when you submit geo-tagged asset photographs for loan utilization verification. Location data is used solely for verification purposes.
AI-Processed Data
Our AI systems (powered by OpenAI and Google Gemini) process uploaded images and documents to assess loan utilization. Processed outputs are stored as verification records.
2. How We Use Your Information
Loan Verification Services
To verify loan utilization, assess fraud risk, generate compliance reports, and facilitate officer review workflows as required by lending institutions and government scheme administrators.
AI & Fraud Detection
To train and operate AI models for fraud scoring, anomaly detection, and automated document verification. AI processing is conducted under strict data minimization principles.
Platform Operations
To authenticate users, maintain audit trails, send notifications, provide customer support, and ensure platform security and availability.
Legal Compliance
To comply with RBI guidelines, NABARD directives, PMLA requirements, and other applicable Indian financial regulations.
3. Data Sharing & Disclosure
Lending Institutions
Verification results and compliance reports are shared with the lending institution (bank, NBFC, or government body) that initiated the loan verification request.
Government Authorities
We may disclose data to NABARD, RBI, SIDBI, or other regulatory authorities as required by law or upon receipt of a valid legal order.
AI Service Providers
Image and document data is processed by OpenAI and Google Gemini APIs under data processing agreements that prohibit use of your data for training their models.
No Sale of Data
We do not sell, rent, or trade your personal information to third parties for marketing or commercial purposes.
4. Data Retention
Retention Periods
Loan verification records are retained for 7 years as required by RBI guidelines. Audit trail logs are retained for 5 years. Account data is retained for the duration of your active account plus 2 years.
Deletion
Upon account closure or upon receipt of a valid deletion request (where legally permissible), we will delete or anonymize your personal data within 30 days, except where retention is required by law.
5. Your Rights
Access & Portability
You have the right to request a copy of the personal data we hold about you in a structured, machine-readable format.
Correction
You may request correction of inaccurate or incomplete personal data. Corrections to loan records may require verification by the lending institution.
Deletion
You may request deletion of your personal data where it is no longer necessary for the purposes for which it was collected, subject to legal retention requirements.
Objection & Restriction
You may object to or request restriction of processing of your personal data in certain circumstances, including where processing is based on legitimate interests.
Withdraw Consent
Where processing is based on consent (e.g., location data), you may withdraw consent at any time without affecting the lawfulness of prior processing.
6. Data Security
Technical Safeguards
We implement AES-256 encryption at rest, TLS 1.3 in transit, role-based access controls, multi-factor authentication for officers, and regular penetration testing.
Organizational Measures
Access to personal data is restricted to authorized personnel on a need-to-know basis. All staff handling personal data undergo data protection training.
Breach Notification
In the event of a data breach affecting your rights and freedoms, we will notify you and relevant authorities within 72 hours of becoming aware of the breach.
8. Contact & Grievances
Data Protection Officer
For privacy-related queries, requests, or grievances, contact our Data Protection Officer at: privacy@loanlensai.com
Grievance Redressal
Complaints will be acknowledged within 48 hours and resolved within 30 days. If unsatisfied, you may escalate to the relevant Data Protection Authority under the Digital Personal Data Protection Act, 2023.