Terms & Conditions

1. About these Terms

These Terms and Conditions (“Terms”) govern your access to and use of the Sahakar Shakti website at sahakarshakti.com and the Sahakar Shakti lending platform (together, the “Service”). By accessing or using the Service, you agree to be bound by these Terms. If you do not agree, please do not use the Service.

For institutions that license the Sahakar Shakti platform, a separate written Master Services Agreement (“MSA”) and order forms will apply. To the extent of any conflict between these Terms and the MSA, the MSA prevails for that institution.

2. The Service

Sahakar Shakti is a multi-tenant lending operating platform built for Indian cooperative banks, credit societies, NBFCs, micro-lenders and similar institutions. It includes modules for lead management, loan origination, loan management, collections, deposits and an in-product AI assistant (“SahAI”).

The Service is a software tool. It is not a lender, a banking service, a payment system, a credit information company or a financial advisor. All credit decisions, approvals, disbursements, restructurings, waivers, write-offs and other regulated actions are taken by the tenant institution and its authorised officers, on their own judgement, under their own policies and within their own regulatory perimeter.

3. Eligibility and intended users

The Service is intended for use by:

• Regulated and registered financial institutions in India and their authorised staff and contractors;
• Sourcing and service partners (such as direct selling agents, valuers, legal counsel and collection agencies) authorised by a tenant institution;
• End customers of a tenant institution, where the tenant has enabled a customer portal.

By using the Service, you confirm that you are at least 18 years of age, have the legal capacity to enter into these Terms, and (if accessing on behalf of an institution) have authority to bind that institution.

4. Accounts and access

Access to the platform requires an account provisioned by an authorised administrator of the tenant institution. You agree:

• To provide accurate and current information when creating or updating your account.
• To keep your credentials, multi-factor authentication factors and access devices secure and confidential.
• Not to share your account with any other person, and not to use another person’s account.
• To notify your administrator and Frank Knowtech LLP immediately if you suspect any unauthorised access.

We may suspend or terminate accounts that violate these Terms, that pose a security risk, or where instructed by the tenant administrator.

5. Acceptable use

You must not, and must not attempt to:

• Use the Service for any unlawful, fraudulent or harmful purpose;
• Access, store or transmit personal data, financial information or content for which you do not have the necessary consent or right to process;
• Reverse engineer, decompile, disassemble or otherwise attempt to derive the source code of the Service, except as expressly permitted by law;
• Probe, scan or test the vulnerability of the Service, or breach any security or authentication measure, without our prior written consent;
• Interfere with or disrupt the integrity or performance of the Service or the data of any other tenant;
• Use automated scripts, scrapers or bots to extract data, other than through documented and approved interfaces;
• Upload viruses, worms, malware or any other code designed to disrupt, damage or limit the functioning of the Service;
• Resell, sublicense, lease or otherwise commercially exploit the Service without our prior written consent;
• Misrepresent your identity, your role or your affiliation when using the Service.

6. Tenant data and responsibilities

A tenant institution remains fully responsible for the data it uploads or generates within its tenant area, including ensuring it has the legal right and necessary consents to do so. The tenant is solely responsible for:

• Defining and applying its own credit policy, pricing, risk limits and product rules within the platform;
• Configuring and approving users, roles and access rights;
• Reviewing and approving any AI-generated suggestion, summary or draft before it is acted upon;
• Meeting its own obligations under the law and regulations applicable to its business (including the DPDP Act, the Reserve Bank of India’s applicable directions, and other financial-sector regulation);
• Maintaining its own backups and records, as required by law, in addition to those provided by the Service.

7. SahAI and other AI features

SahAI and other AI features are designed to assist human officers. They draft, summarise, flag gaps, surface policy excerpts and propose options. They are advisory only. The following actions are not initiated or completed by AI:

• Loan sanction, disbursement, foreclosure, restructuring, waiver and write-off;
• Onboarding decisions, KYC clearance and customer offboarding;
• Posting of financial entries or release of funds.

AI outputs may be incomplete or incorrect. The tenant institution and its authorised officers must review, verify and decide before acting on any AI output. We do not warrant that AI outputs are accurate, complete or free of error.

8. Intellectual property

The Sahakar Shakti platform, the SahAI assistant, the underlying software, designs, content, trade marks and documentation are owned by Frank Knowtech LLP or its licensors and are protected by intellectual property laws. Subject to these Terms and any applicable MSA, we grant you a limited, non-exclusive, non-transferable, revocable right to access and use the Service for its intended purpose during the term of your authorisation. No other rights are granted, by implication or otherwise. “Sahakar Shakti” and “SahAI” are trade marks of Frank Knowtech LLP.

9. Third-party services

The Service may integrate with or rely on third-party services (for example KYC providers, credit bureaus, SMS and email gateways, payment gateways, cloud infrastructure, core banking systems). Use of those services is subject to their own terms and conditions. We are not responsible for the availability, accuracy or performance of third-party services, but we will exercise reasonable diligence in choosing and managing them.

10. Fees and billing

Use of the website is free. Use of the Sahakar Shakti platform by a tenant institution is on a paid basis under a separate MSA and applicable order form, which sets out the subscription fee, usage charges (including any per-call API credits for AI, KYC and similar features), payment terms and applicable taxes. Failure to pay undisputed amounts when due may result in suspension or termination of access.

11. Confidentiality

Each party may have access to non-public information of the other in connection with the Service. Each party agrees to keep such information confidential, to use it only for the purposes of these Terms or the MSA, and to apply at least the same level of care it applies to its own confidential information (and not less than reasonable care). This obligation does not apply to information that is or becomes public other than through a breach of this section, was independently known, or is required to be disclosed by law.

12. Warranties and disclaimer

We will provide the Service with reasonable skill and care and in accordance with applicable law. To the maximum extent permitted by law, except as expressly stated in these Terms or in an MSA, the Service is provided “as is” and “as available”. We do not warrant that the Service will be uninterrupted, error-free, fully secure or that it will meet any specific result or requirement that has not been expressly agreed.

13. Limitation of liability

To the maximum extent permitted by law:

• Neither party will be liable for indirect, incidental, special, consequential or punitive damages, or for loss of profits, revenue, goodwill, data or business opportunity, even if advised of the possibility of such damages.
• Our total aggregate liability arising out of or in connection with these Terms and the Service, whether in contract, tort (including negligence), statute or otherwise, will not exceed the fees actually paid by the relevant tenant to Frank Knowtech LLP for the Service in the twelve (12) months immediately preceding the event giving rise to the claim. For users who have not paid any fees, our aggregate liability will not exceed INR 1,000.

Nothing in these Terms excludes or limits liability that cannot be excluded or limited under applicable law (including liability for fraud or wilful misconduct).

14. Indemnity

You agree to indemnify and hold harmless Frank Knowtech LLP, its partners, officers, employees and agents from and against any claim, loss, liability or expense (including reasonable legal fees) arising out of (i) your breach of these Terms, (ii) your misuse of the Service, or (iii) your violation of any law or the rights of any third party in connection with the Service.

15. Suspension and termination

We may suspend or terminate access to the Service if (i) you breach these Terms, (ii) we reasonably believe your use is harmful or unlawful, (iii) we are required to do so by law or by a regulator, or (iv) for a tenant, fees are overdue and remain unpaid after notice. Termination of the platform contract is otherwise governed by the MSA. On termination, your right to use the Service ceases, and the tenant will receive an opportunity, within a reasonable period defined in the MSA, to export its data.

16. Changes to the Service and to these Terms

We may update the Service from time to time, including adding, modifying or removing features, in order to improve security, performance or functionality. We may also update these Terms; the latest version will be posted on this page with the “Last updated” date. If a change materially reduces the rights of a tenant institution, we will give reasonable advance notice through the platform or the registered contact.

17. Force majeure

Neither party will be liable for delay or failure in performance to the extent caused by events beyond its reasonable control, including acts of God, war, civil disturbance, epidemic, government action, internet or telecommunications failure, or denial-of-service attacks. The affected party will use reasonable efforts to mitigate the effect.

18. Governing law and jurisdiction

These Terms and any dispute arising out of or in connection with them or the Service are governed by the laws of India. Subject to the dispute-resolution clause below, the courts at Bangalore, India have exclusive jurisdiction.

19. Dispute resolution and grievance

If you have a grievance, please first contact us at support@sahakarshakti.com with the subject line “Legal — Grievance”. We will acknowledge the grievance within a reasonable time and seek to resolve it amicably. Any dispute that cannot be resolved through good-faith discussions within sixty (60) days may be referred to arbitration by a sole arbitrator under the Arbitration and Conciliation Act, 1996, seated in Bangalore, India, with the language of arbitration being English.

20. General

• Entire agreement. These Terms (together with any MSA, order form, privacy policy and other documents referenced) constitute the entire agreement between you and us regarding the Service.
• Severability. If any provision is held invalid or unenforceable, the remaining provisions remain in full force and effect.
• No waiver. Failure to enforce any right or provision is not a waiver of that right or provision.
• Assignment. You may not assign these Terms without our prior written consent. We may assign them in connection with a merger, acquisition or reorganisation.
• Notices. Notices to us must be sent to support@sahakarshakti.com. Notices to you may be given through the Service or to the registered email on your account.
• Headings. Section headings are for convenience only and do not affect interpretation.