Terms and Conditions

Last Updated: August 20, 2024

This page contains the terms and conditions ( “Terms of Use” ) that apply to any registered user or individual ( “User”/ “You” / “Your” ) who has access / browses / uses any of the Platform (defined below ) / Account (“defined below” ) / Services (defined below ).

Please read the following Terms and Conditions carefully before accessing, browsing, or using the Mera Kal Platform, owned and operated by DN Cube Technology Solutions Private Limited, referred to as “DCTSPL”, a company, incorporated under the provisions of the Companies Act, 2013, (CIN) U74999KA2022PTC162702 and having its registered office at 2965, 4th Cross, 12th Main, Indiranagar, HAL 2nd Stage N Road, Bangalore - 560008, Karnataka, India.

Big Dreamz Finclusion Private Limited (referred to as “BDFPL”/ “Company”/ “Mera Kal”/“We”/ “Our”/ “Us”), is a wholly owned subsidiary of “DCTPSL” and having CIN U74999KA2022PTC167369.

Mera Kal is the registered trademark of Big Dreamz Finclusion Private Limited.

The Company is, inter alia, engaged in the business of (i) providing customer acquisition services and loan origination services to lending partners (NBFCs/Banks), ii) providing financial planning services such as mutual fund investments and is an AMFI registered distributor, with ARN-261254 valid until 5 January 2026.

The Client business is carried out under the brand name “Mera Kal”, iii) and in providing the technology platform to enable the above.

The Company thus collaborates with lending partners and other companies to offer various financial products through its website/(platform) https://merakal.in (“Platform”).

Platform Services:

Mera Kal provides mutual fund investment services and loans against insurance policies, and other related services.

If you do not agree to any of the terms mentioned in this agreement, you should exit the site.You may only access the Platform / Services / Account for lawful purposes.You are solely responsible for the knowledge of and adherence to any and all laws, rules, and regulations pertaining to Your access and/or use of the Platform / Services / Account. You represent and warrant that You are competent and eligible to enter into a legally binding agreement and be bound by these Terms of Use. Further, Mera Kal shall carry out all activities that are required to fulfil its regulatory obligations for the provision of Services.

Compliance with Law:

You agree to provide accurate information and comply with all KYC and regulatory requirements.

You confirm that you are a resident Indian and if opting for mutual fund investments, remit funds from a legitimate source in accordance with applicable law. Certain restrictions may apply to investments from the United States of America and Canada.

Registration on the Platform:

To apply for loans on our platform you can apply by submitting the application form on our website/Whatsapp bot or speaking with our customer support team.

For initial inquiries on loans against insurance policies, we require your name, mobile number, and a soft copy of your insurance policy document.

To invest in mutual funds, please reach out to our customer support team.

Provision of Service:

You acknowledge the risks associated with online Services and agree to be responsible for the security of your personal information. You must notify Mera Kal of any unauthorised use of your data.

Charges and Fees:

  • Mera Kal earns a sourcing fee from lending partners when customers avail loans, without imposing any additional charges on the customers for this service. The lending partner may charge a processing fee at their discretion.
  • Mera Kal receives brokerage from mutual fund houses based on the schemes distributed on the platform.

Terms and Conditions for Application for Loan:

You hereby accept the applicable schedule of charges, fees, commissions including the key facts informed to you by Mera Kal or the lender.

Mera Kal shall not process incomplete/defective application forms, for which if any loss or delay is caused to customers, customers will not hold Mera Kal liable for such loss or delay. Submission of a loan application to Mera Kal does not imply automatic approval and the lender will decide the quantum of the loan at its sole and absolute discretion. The lender in its sole and absolute discretion may either sanction or reject the application for granting the loan.

The lender shall have the right to make disclosure of any information relating to You including personal information, details in relation to the Loan, defaults, security, etc. to the Credit Information Bureau of India (CIBIL) and/or any other governmental/regulatory/statutory or private agency/entity, credit bureau, the lender’s other branches/subsidiaries/affiliates/rating agencies, service providers, other banks/financial institutions, any third parties, any assignees/potential assignees or transferees, who may need, process and publish the information in such manner and through such medium as it may be deemed necessary by the publisher/ Company/ including publishing the name as part of wilful defaulter's list from time to time, as also use for KYC information verification, credit risk analysis, or for other related purposes.

The lender reserves its right to reject the loan application and retain the loan application form along with the photograph, information, and documents.

In respect of any delayed payments, without prejudice to all other rights of the lender under these Terms & Conditions: The lender shall be entitled to recover Penal Charges from You as described in the Schedule of Charges.

You shall furnish any additional documents as and when required by the lender. There is no impediment or restriction (whether legal or judicial) against customers and/or their assets filed/reported by any other bank/financer. The funds shall be used for the purpose for which the loan has been applied and will not be used for speculative or antisocial purposes. The information furnished by customers is true and accurate.

The Borrower agrees that he/she is not a Politically Exposed Person (PEP) and further undertakes to immediately intimate the lenders in the event that he/she and/or any of their family members/close relatives becomes a PEP. In this situation, the lenders will seek senior management approval to sustain the business relationship. The account will then undergo Customer Due Diligence procedures, including ongoing enhanced monitoring, as required for PEP category customers.

Customer Communications:

By accepting these Terms of Use, you consent to be contacted by Mera Kal via various communication channels, including calls, SMS messages, WhatsApp messages, and notifications.

Promotional Materials and Referrals:

Mera Kal may provide promotional materials and incentives for referring new users. Terms and conditions apply to such promotions.

Use of Cookies and Links to Other Third-Party Platforms and Collection of Information:

Mera Kal may use cookies for standard operation and collect data through them. Our Privacy Policy does not cover cookies used by third-party websites linked on our site. We may provide links to third-party platforms that collect Personal Information. These platforms are governed by their own terms of use.

Intellectual Property:

You do not have ownership of any intellectual property rights associated with Mera Kal. Copying or reproducing any material is prohibited.

  • You do not have ownership of any intellectual property rights, including branding or logos of Mera Kal and You shall not copy, reproduce, sell, redistribute, publish, enter into a database, display, perform, modify, transmit, licence, create derivatives from, transfer or in any way exploit any part of any information, content, materials, services available from or through Mera Kal, except that which You may download for personal, non‐commercial use.
  • All of the content on the Platform, including, without limitation, all of the page headers, images, illustrations, graphics, audio clips, video clips or text, reports generated, trademarks, trade names, copyright, emails, SMS and WhatsApp communication ("Contents"), constitute Our intellectual property. Mera Kal and its licensors, if any, are the sole owners of the underlying software and source code associated with the Product and all the trademarks, copyright and any other intellectual property rights of any nature in the Platform.
  • In case You believe that the Platform violates Your intellectual property, You must promptly notify Us in writing at hello@merakal.in . These notifications should only be submitted by the owner of the intellectual property or an agent authorised to act on his/her behalf. However, any false claim by You may result in the termination of Your access to the Platform.

Indemnity:

  • You agree to indemnify, defend, and hold Mera Kal and its respective directors, associates, group, employees and representatives harmless from and against any and all losses including reasonable attorney’s fees and expenses, of third parties relating to or arising out of: (i) breach of any of the provisions of this Terms of Use and/or Privacy Policy; or (ii) fraud or dishonesty relating to any transaction by You; or (iii) misrepresentation/fraud/negligence with respect to data and information provided by You.
  • Mera Kal will have the right to participate in any defence by you of a third-party claim related to Your access / use of the Platform / Services / Account, with counsel of its choice and its expense.
  • The terms of this provision of Terms of Use will survive any modification, termination or cancellation of this Terms of Use or Your access / use of the Platform / Services / Account.
  • You must receive Mera Kal’s prior written consent regarding any related settlement in any claim against Mera Kal.

Limitations of Liabilities:

  • In no event will Mera Kal be liable for any action performed or omitted to be performed or for any errors of judgement in relation to Your Account.
  • You agree and will not hold Mera Kal responsible for any loss, notional or otherwise, incurred because of (i) delays either by the lender/Bank, lender payment systems or Registrar and Transfer Agency or AMC; or (ii) rejection of Your instructions by the lender/Bank, Registrar and Transfer Agency or AMC; (iii) processing of instructions authenticated by Your Login Credentials; (iv) Non-availability or non-accessibility of the website, electronic payment gateway, telephone(s); (v) any inaccuracy or typographical error on the website; (vi) reduction in the value of Your investments made through the Platform (vii) any trading losses, cost of damage incurred by the User caused due to relying on investment information, research opinions or advice or any other material/information whatsoever on the Platform, literature, brochure or promotional material issued by Mera Kal or any other agency appointed/authorised by Mera Kal.

Govering Laws and Jurisdiction:

The Terms of Use shall be governed and construed in accordance with the laws of India without reference to conflict of laws principles. All disputes arising in relation to shall be subject to the exclusive jurisdiction of courts at Bangalore.

Contact Us:

You will inform Mera Kal of any change in your residential or employment address.

You hereby authorise and give consent to the lender to disclose, without notice to You, information furnished by You in the application form(s)/ related documents executed/ to be executed in relation to the facilities to be availed by You from the lender, to the lender’s other branches/ subsidiaries/ affiliates/ Credit Bureaus/ Rating Agencies/ Service Providers, banks/ financial institutions, governmental/ regulatory authorities or third parties for information verification, credit risk analysis, or for other related purposes that the lender may deem fit.

You hereby confirm having read, and understood the terms and conditions applicable to the loan including the application form and the Terms and Conditions/Agreement and accept the same.

You confirm being a citizen of India.

You confirm that Mera Kal shall not be liable for any delay in delivery or non-delivery of the loan.

You are aware that a false declaration could render you liable to prosecution under the applicable act, rules, and regulations.

You also confirm that:

In the case of loan cancellation, the applicable pro-rata Annualised Percentage Rate on any outstanding loan amount will have to be borne by You and understand that Processing Fee is non-refundable charges and would not be waived/ refunded in case of loan cancellation or where the loan has not been disbursed.

The sanction or any other loan communication received by you online is only a conditional approval and shall not give rise to any obligations to the lender to disburse the loan or otherwise. The conditional approval shall be subject to the final sanction issued by the lender after receipt of all documents including KYC documents.

The loan-related information like "welcome letter", “key fact statement” "repayment schedule", "Terms and condition", "disbursal advice (as applicable to Loan Against Life Insurance Policies)", will be sent to the e-mail id mentioned by you in the loan application form.

The lender reserves the right to transfer the loan to another entity at its own discretion.

If You desire to question any statement or any part thereof You shall furnish the lender full details of the same within 15 days of the receipt of the statement. It is however clarified that You shall not be entitled to default or delay the payment of the interest or any part thereof on the ground of such dispute or question.

You understand that your loan may be serviced by Mera Kal under a platform-based arrangement and therefore, agree to share your loan-related details with Mera Kal for the purpose of loan servicing.

You understand that before your loan has been disbursed, it will be subject to a lien being marked against your insurance policy, with the lien being removed only once the loan is fully repaid.

Links to Other Third-Party platforms and collection of information:

Mera Kal may link You to other third-party platforms that may collect Your Personal Information and aid Mera Kal in providing Services. Mera Kal uses third-party vendors/service providers/ for functions such as but not limited to concluding know-your customer (“KYC”) obligations, onboarding customers, analytics, payment gateways, digital signatures.

You acknowledge and understand that by clicking on the links You have provided your consent to use the third-party platforms and that Mera Kal does not control the third-party platforms. These third-party service providers may have their own terms of use governing the usage of their platform which You may be subject to in addition to this Terms of Use. This Terms of Use does not govern any interaction with or usage of the platforms of these third-party providers. You are advised to review the Terms of Use of these third-party service providers carefully.

Term and Termination:

  • If and when you are desirous of having Your Account deactivated or terminated, You are requested to reach out to our Customer Care.
  • In case of deactivation or termination of Your Account in accordance with the Terms of Use; Mera Kal will continue to securely maintain a record of Your Personal Information ( defined under Privacy Policy) and Your financial transactions to fulfil regulatory obligations. Mera Kal will provide You details of the AMCs in whose mutual fund units You have invested in and will fulfil Your redemption/transfer requests, if required.
  • Mera Kal, at its sole discretion, may close Your Account for non-compliance with this Term of Use or any applicable laws.

Force Majeure:

The parties hereby agree that the period of time during which Mera Kal is prevented or delayed in the performance or fulfilling any obligation hereunder, due to unavoidable delays caused by an event of Force Majeure shall be added to Mera Kal’s time for performance thereof; and Mera Kal shall have no liability by reason thereof. In such an event Mera Kal agrees and endeavours to fulfil its obligations under this agreement as expeditiously as possible upon ceasing such an event of Force Majeure. A “Force Majeure” event for the purposes of this Agreement shall include an act of God, flood, earthquake, fire, explosion, strike, war, civil commotion, insurrection, embargo, riots, political disturbances, lockouts, epidemics, pandemics, any act, law, regulation or order of the government, systemic electrical, telecommunications, network or other utility failures affecting Mera Kal to render services, including failure on account of a cyber threat / risk.

Miscellaneous:

  • All notices from the Company will be served by messages via Whatsapp number, or email to Your registered email address or by general notification on the Platform. Any notice provided to Mera Kal pursuant to the Terms of Use should be sent to hello@merakal.in
  • Neither You or Mera Kal may assign or otherwise transfer the rights under this Agreement without written consent of the other.
  • In the event, Mera Kal is of the opinion or informed about any fraudulent transaction/ violation of policies, Mera Kal will have the exclusive right to block / freeze such an account until further course of action.

Big Dreamz Finclusion Private Limited has its registered office at 2965, 4th Cross, 12th Main, Indiranagar HAL 2nd Stage,Bangalore - 560008, India and corporate address at Church St 46/1, Cobalt, Haridevpur, Shanthala Nagar, Ashok Nagar, Bengaluru - 560001, India.