ByajKhata

1. Eligibility

• You must be at least 18 years of age to use our services.
• You must be an Indian resident with a valid mobile number.
• You must provide accurate and truthful information during registration.

2. Platform Use

• Vendors may register and, after admin approval, use the platform to manage agents, borrowers, and loans.
• Agents operate under a registered vendor and may add borrowers and record loans on the vendor's behalf.
• All loan terms (amount, rate, type) are set by the vendor and communicated to borrowers.
• We reserve the right to suspend or reject any account without providing a reason.

3. Interest & Commission

• Interest is calculated on the outstanding principal as per the loan rate and type entered by the vendor.
• Agent commission (0%–0.5% per month) is set by the vendor and computed automatically on each payment.
• All rates are the responsibility of the vendor to communicate clearly to borrowers.

4. Payment Recording

• Payments must be recorded by the vendor or agent through the ByajKhata app.
• Vendors and agents are responsible for accurate payment entry.
• Auto-verified payments update the loan balance immediately upon recording.
• Fraudulent or incorrect entries may result in account suspension.

5. Account Security

• You are responsible for keeping your MPIN confidential.
• Do not share your MPIN or login credentials with anyone.
• Notify us immediately if you suspect unauthorised access to your account.
• We will never ask for your MPIN via phone, SMS, or email.

6. Prohibited Activities

You must not:

• Provide false or misleading information when registering or entering loan data.
• Attempt to manipulate or exploit our systems or calculations.
• Submit fraudulent payment records or transaction IDs.
• Use the platform for any unlawful lending or financial activities.

7. Termination

We reserve the right to suspend or terminate your account without prior notice if you violate these Terms, provide false information, or engage in fraudulent activity. Outstanding loan records remain in the system even after account termination.

8. Limitation of Liability

ByajKhata is a loan management and record-keeping tool. We are not responsible for the actual lending, recovery, or financial decisions made by vendors or agents. We are not liable for any indirect, incidental, or consequential damages arising from your use of our services.

9. Governing Law

These Terms are governed by the laws of India. Any disputes shall be subject to the exclusive jurisdiction of courts in Bengaluru, Karnataka.

10. Changes to Terms

We may revise these Terms at any time. Continued use of the application after changes constitutes acceptance of the revised Terms. We recommend reviewing this page periodically.

11. Contact

For any questions about these Terms, please visit our Contact page.