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Privacy Policy

SocInvest acknowledges and accepts that the personal details that You impart to us, are to be kept in strict confidentiality and to use the information only in the manner which would be beneficial to Our customers. We consider Our relationship with You as invaluable and strive to respect and safeguard Your right to privacy.

 

We shall protect the personal details received from You with the same degree of care to prevent the unauthorized use, dissemination, or publication of this information as We protect Our own confidential information of a like nature. We shall use the personal information to improve Our service to You and to keep You updated about our new product or information that may be of interest to You. The information collected from you would be used in the right spirit and context in which it is intended to be used. 

We would ensure that We collect Personal Information only to the extent it is necessary to administer Our services in the best possible manner and what is required under the various regulations of Indian Laws. To ensure high-quality services and a high degree of value addition to You, We may combine the information given by You on the web or through other channels. 

 

This Privacy Policy explains how SocInvest handles Personal Information that we collect online, through Our websites and application(s). The privacy notice provides You with a summary of the type of information collected by us, the policy regarding the use of that information, and measures taken to safeguard that information. This Privacy Policy does not apply to information collected from residents of countries other than India, or to third-party websites to which SocInvest may link.  As a subscriber to Our Services, We collect, use, and share Your data subject to this Privacy Policy.

Definitions

  • Anonymous Information - Information that cannot be used within bounds to recognize and establish the identity of a person.

  • Personal Information - Information or particulars associated with a natural person which recognizes and establishes the identity of such person. This also includes information which can be associated to any other information to discern such identity.

  • Non Personal Information – Information or particulars that may not directly recognize and establish the identity of a person. 

  • Platform -  The website www.socinvest.app (“Website”) /or mobile application ‘SocInvest’ (“App”) (The Website or the App hereinafter collectively and individually referred as “the Platform”).

  • User – Also referred to as “You” or  “Your” or “Yourself” who accepts the terms of the present privacy policy.

What information does SocInvest collect?

We receive and store only that information You knowingly provide to us or with Your explicit consent. You can always delete this information by writing to Us at support@socinvest.app.

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Below is the list of information We do or will collect.

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1) New Account: When You create a new account to use the Platform we may request for the following information:

  • Mobile number, first name, last name and email; 

  • Profile picture, address and any other optional information collected for creating Your account on the Platform;

  • SocInvest has developed a social network that helps You in Your investment decision by taking cues from Your contacts. Hence if You agree to provide access, we shall collect information from Your device’s phonebook. SocInvest platform is structured around social connections. If Your phone contacts are made available to the Platform, it allows You to learn from Your phone contacts through feature sets incorporated in the Platform.

 

2) â€‹KYC details: To comply with regulatory requirements, We ask You for Your PAN number (Tax Number) to check Your current KYC (Know Your Customer) status.

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3) Investment Details

  • You provide investment details like script code name, scheme name, investment type, investment date and investment value by manually entering the data or by using a third party gateway like SmallCase or by executing transactions through online platforms integrated with SocInvest;

  • You may provide Your consolidated account statement for review by financial advisers empanelled on the Platform;

  • Further, if You choose to invest through the Platform, We will also collect information about Your transactions including transaction status and details and Your investment behaviour.

 

4) Social Media Platforms

  • You may wish to participate in social media Platform hosted by SocInvest which We make available to You. The main aim of the social media Platform is to facilitate and allow You to share content and views. However, SocInvest cannot be held responsible if You share personal information on social media platform that is subsequently used, misused or otherwise appropriate by another user.

  • You may share your investment details like portfolio mix with other Users on the platform .

  • Information such as message or comments posted on the posts of the Platform, feedback column or such other similar content will be collected and stored by Us. The information so collected can be used for resolving any disputes, providing better customer services or resolving Your queries and improving the services provided by Us to You.

 

5) Other Information

  • We may also ask You for certain financial information, including Your billing address, bank account details, credit card number, expiration date and/or other payment related details or other payment method data, and debit instructions or other standing instructions to process payments for the SocInvest. We may ask you to provide certain additional information about Yourself on a case to case basis. We do not display any of Your financial information, other than portfolio mix in investment details, to any other user on the Platform except You.

  • When and if You download and/or use the Platform through Your mobile, We may receive information about Your location, Your IP address, and/or Your mobile device, including a unique identifier number for Your device. We may use this information to provide You with location-based Services including but not limited to search results and other personalized content. You can withdraw Your consent at any time by disabling the location-tracking functions on Your mobile. However, this may affect Your enjoyment of certain functionalities on the Platform.

  • If You provide Us feedback or contact Us via e-mail, We will collect Your name and e-mail address, as well as any other content included in the e-mail, in order to send You a reply.

  • When You participate in one of Our surveys, We may collect additional information.

  • You must ensure to recheck the information or data being provided to Us. In case if any of the data/information is found to be inaccurate or incorrect, the same shall be informed to Us for immediate amendment. We shall not be responsible for the authenticity of any information including Personal Information submitted to Us.

 

From time to time, We may use or augment the Personal Information We have about You obtained from other sources, such as public databases, social media platforms and other third parties. We may also combine information We get from a third-party with information We already have.

 

If You choose to submit any Personal Information relating to other people, You represent that You have the authority to do so and permit Us to use the information in accordance with this Policy.

Information collected by SocInvest via technology

  • To enhance Our services and provide You with constructive results, Our servers (including hosting by third-party service providers) collects Your Non-Personal Information. Third party service providers assist Us to inspect and evaluate certain activities online. We may allow such third-party service providers to utilize data collection devices such as cookies to effectively enable them to give desired output.

  • We may also collect certain Non-Personal Information, such as Your internet protocol address, web request, operating system, browser type, URL, internet service provider, IP address, aggregate user data, browser type, software and hardware attributes, pages You request, and cookie information, etc. which will not identify with You specifically, while You browse, access or use the Platform.

Use of Your Personal Information by SocInvest

​We use the Personal Information and other Non-Personal Information, for the following:

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  • To build Your social network on the Platform; 

  • To check Your KYC completeness;

  • To provide notifications for services You have subscribed to;

  • To facilitate payment and execution of services You have subscribed to;

  • Provide, personalise and improve Our Platform;

  • To resolve disputes and troubleshoot problems;

  • To detect, prevent and protect Us from any errors, fraud and other criminal or prohibited activity on the Platform;

  • Enable Us to notify You with any new product or services;

  • To send newsletters, surveys, offers, and other promotional materials related to our Services and for other marketing purposes;

  • Market and customer analysis, market research and statistics;

  • Defend Ourselves in litigation and investigations and to prosecute litigations;

  • Comply with Our legal and regulatory obligations.

Does SocInvest share Personal Information?

We neither rent nor sell Your Personal Information to anyone. However, We may share Your Personal Information with third parties as described in this section:

  • We share Your Personal Information with financial advisers that You have availed services from on the Platform to enable them to provide said services and for regulatory compliance;

  • We share Your PAN and name with a service provider that does a completeness check;

  • We share Your Other Information with a payment gateway provider to process payments for SocInvest; 

  • We share Your Personal Information with online and / or offline brokers that You chose to share information with.

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Apart from the above, We only transfer the data to others if necessary to provide or improve Our features and make our interface more user friendly. We may also transfer data as necessary to comply with applicable law or as part of a merger, acquisition, or sale of assets with notice to Users. All other transfers or sales of the user data are prohibited. We don't use or transfer the data for serving ads, including retargeting, personalized, or interest-based advertising; and
We don't allow humans to read the data, unless :
 

(a) We first obtain Your affirmative agreement for specific purposes;
(b) It is necessary for security purposes (such as investigating a bug or abuse);
(c) It is necessary to comply with applicable law; or
(d) Our use is limited to internal operations and the data (including derivations) have been aggregated and anonymized.


These prohibitions of user of data apply to all the information/ data obtained from You with Your explicit consent. Our employees, agents, contractors, and successors comply with this Policy. We may share Your information including Personal Information to third parties to carry out technical, logistical and other functions on Our behalf. (e.g. sending emails or newsletters to Users).

 

The information so collected may be shared with SEBI/ NSE/ BSE/ MCX /Asset Management Companies of Mutual Funds/Registrar and Transfer Agents/Collecting Banks/KYC Registration Agencies (KRAs)/Brokers etc. solely for the purpose of processing Your transaction requests or serving You better.

Usage of information by third-party websites

When You click on a link to any other website or location, You will leave Our Site and go to another site and another entity may collect Personal Information or Anonymous Information from You. We have no control over, do not review, and cannot be held responsible for, these outside websites or their content. Please be aware that the terms of this Privacy Policy do not apply to these outside websites or content, or to any collection of information after You click on links to such outside websites.

Cookies & Third Party Analytics Services

We use Local Storage Objects (LSOs) to store content information, preferences and to keep You signed-in. We identify user’s signed-in state with a token and a user-id. The LSO token is expired when user logs out of Our website or mobile application.
 
We do not collect any information about Your online activity when You sign-out and/or leave our services.
 
We use third party analytics services in order to better understand user engagement with the Services. When a User browses or uses the Services, these third party analytics services may collect the User’s IP address, browser type, and approximate location (based on the IP address). They may also use web logs or web beacons and may set and access cookies on Your computer or other device. In order to provide a superior user experience, We provide the third party analytics service providers with a User’s demographic information at SocInvest along with User’s movements on SocInvest website and mobile applications.
 
These third party analytics services may deploy cookies on Your browser. Your browser may offer You a “Do Not Track” option, which allows You to signal to operators of websites and web applications and services that You do not wish such operators to track certain of Your online activities over time and across different websites. “Do Not Track” signals are set on a browser-by-browser basis, so You must set them on every browser You use if You do not wish to be tracked.
 
We do not share and will never share any confidential data such as user’s investment details, contents of user’s gmail, bank details, transaction details, income or any other sensitive details with these third party analytics service providers.

Security and Responsible Disclosure 

SocInvest is committed to protecting the security and privacy of Your Personal Information. We endeavour to have suitable technical, operational and physical security controls and measures to protect information collected by Us that are commensurate with the nature of Our business at all times. We use a variety of industry-standard security technologies and procedures to help protect your Personal Information from unauthorized access, use, or disclosure.

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Further, despite Our efforts to protect Your information, if unauthorized persons breach security control measures and illegally use such sensitive/Personal Data or information, SocInvest, its affiliates and directors shall not be held responsible/liable.

Retention of information or data

It may be noted that We may retain the data as may be provided to Us till such time as may be provided under the law and as required to efficiently provide service to Our users.

Privacy Questions and Access

If You have questions, concerns, or suggestions regarding our Privacy Policy, please contact us immediately at support@socinvest.app.
 
In certain cases, You may have the ability to view or edit Your personal information online. In the event Your information is not accessible online and You wish to change or delete Your Personal Information or other information that you may have provided, please contact Us immediately at support@socinvest.app.

Updation of policy

SocInvest reserves the right to change this policy from time to time. Any changes shall be effective immediately upon the posting of the revised Privacy Policy. While We will make reasonable efforts to keep You posted on any updates to this Privacy Policy, to make sure that You are aware of any changes, We recommend that You review this policy periodically. If You are not comfortable with any of the changes to Privacy Policy You may choose to discontinue usage of SocInvest website or mobile applications. You can also email us at support@socinvest.app to update or delete your Personal Information that SocInvest has collected.  This Privacy Policy was last updated on 11 October 2021, and is effective as of that date.

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