As a part of Merchants Liberal Co-operative Bank Ltd having its Head office at Gadag ongoing
efforts to ensure the compliance of modern banking approach, customer trust/ satisfaction, security
oriented service and banking services, bank has adopted the privacy policy aimed at protecting
individual’s personal information entrusted and disclosed to Merchants Liberal Co-operative Bank
Ltd. This Policy governs the way in which Bank collects, uses, discloses, stores, secures and
disposes of personal information.
This policy is the property of Merchants Liberal Co-operative Bank and cannot be conveyed in any
manner or in any form outside Merchants Liberal Co-operative Bank without prior written consent
of Bank. The Bank reserves the right to modify this policy at any time. Merchants Liberal Co-
operative Merchants Liberal Co-operative Bank will endeavour to post the most current version of
this policy on our website.
This Policy is applicable to personal information and sensitive personal data or information
collected by the Bank or it’s affiliates directly from the customer or through the Bank’s online
portals, mobile apps and electronic communications as also any information collected by the Bank’s
server from the customer’s browser.
"Personal information" is data that can be used to identify a natural person. Some examples
of personal information that we may collect are:
- Personal Information: May Include name, contract details, residential address, date of birth, identity
card/passport details, and /or education details)
- Financial details: May Include income, expenses, and/or credit history)
- Employment details: May Include occupation, directorships and other positions held, employment
history, salary, and/or benefits);
- Information about your risk profile, investments, investment objectives, knowledge and experience
and/or business interest and assets;
- Banking information: May Include account numbers and banking transactions);
- Personal opinions made known to us: Like feedback or responses to surveys);
- Information obtained with consent from your mobile device like device location, device information
(including storage, model, mobile network) transactional and promotional SMS, communication
information including contacts and call logs.
1. Commitment
a) Information collected and used by Merchants Liberal Co-operative Bank can include information
supplied by Users and also the information that is automatically collected through navigation or in
any other form.
b) Our websites may contain links to other websites which are not maintained by PRMS Bank. This
privacy policy only applies to the websites of Merchants Liberal Co-operative Bank. When visiting
these third-party websites, you should read their privacy policies which will apply to your use of the
websites.
2. Security
Merchants Liberal Co-op Society Bank gives access of Users information to Authorized Employees only. Such
employees are subjected to abide by the rules and regulations of Merchants Liberal Co-op Society Bank. They undertake to
abide by this Privacy Policy.
3. Sms and Email Privacy
Merchants Liberal Co-operative Bank respects the privacy of all its Users and takes every effort to
protect sensitive customer information. Merchants Liberal Co-operative Bank never seeks from its
Users any confidential / sensitive information like – PINs, passwords, CVV, expiry date, issue date,
etc. though any medium.
- Merchants Liberal Co-operative Bank never sends unsolicited messages to your registered mobile
number.
- Merchants Liberal Co-operative Bank never sends unsolicited emails to your registered email id.
- If Users have not registered their mobile phone number, PRMS Bank will endeavour to ensure Users that
they will not receive any promotional SMS from us.
- Merchants Liberal Co-operative Bank will update / register Users mobile phone number or email id, only
with their consent and/or signed application.
4. Disclosure
Users authorizes Merchants Liberal Co-operative BANK to exchange / share / part with information
of Users to its affiliates / financial institutes / banks / credit bureaus / telecommunication / agencies
/ electronic clearing network that may be required by law / credit reporting / customary practice /
statistical analysis / credit scoring, etc. and shall not hold Merchants Liberal Co-operative Bank
liable for disclosure of such information.
5. Consent
Users consent irrevocably to Merchants Liberal Co-operative BANK for the following disclosures
to third parties without any limitation:
- For the lawful / legal requirement or compliance.
- For enforcing terms and conditions of the products or services. For protecting or defending our rights /
interests / property and also for protecting or defending the rights interests / property of our affiliates /
banks / financial institutes etc.
- For preventing Fraud purposes.
- Users consent to the collection and use of their information by Merchants Liberal Co-operative BANK.
Users consent to the terms of this policy.
- Users also undertakes to keep their password complex and not to disclose to anyone in any form.
- Users agree to receive communication from Merchants Liberal Co-operative BANK.
6. Reasonable Security Practices and Procedures
Merchants Liberal Co-operative Bank is strongly committed to protecting the privacy of its
customers and has taken all necessary and reasonable measures to protect the confidentiality of the
customer information. The security of personal information is a priority and is protected by
maintaining physical, electronic, and procedural safeguards that meet applicable laws. The Bank
maintains its security systems to ensure that the personal information of the customer is
appropriately protected and follows the extant standard encryption norms followed for the
transmission of information. The Bank ensures that its employees and affiliates respect the
The Bank may, from time to time, change this Policy. The effective date of this Policy, as stated
below, indicates the last time this Policy was revised or materially changed.
Approved by the Board of Directors on 11 th day of August 2023 B.R.No. 19(1)
On behalf of Board of Directors
