Data Privacy Policy of KVG Bank

Data Privacy Policy

Karnataka Vikas Grameena Bank (The Bank) recognizes the expectations of its customers with regard to privacy, confidentiality and security of their personal information that resides with the Bank. Keeping personal information of customers secure and using it solely for activities related to the Bank and preventing any misuse thereof is a top priority of the Bank. The Bank has adopted the privacy policy aimed at protecting the personal information entrusted and disclosed by the customers [“the Policy”]. This policy governs the way in which the Bank collects, uses, discloses, stores, secures and disposes of personal information and sensitive personal data or information.

Type of Information Collection

Personal information collected by the Bank generally comprises name, address, date of birth, gender, marital status, occupation, account details, contact details (including telephone and e-mail), financial and other relevant information as required by the Laws in India. It also collects information regarding passport number, PAN, photographs, thumb impressions, signatures and details of nominee etc. For credit purposes Bank may collect the number and ages of dependents, the length of time at current address, employer’s name and contact details, the length of employment, proof of earnings, credit rating of the applicant etc and other relevant information as required by the Laws in India. Bank may also collect the location details of the customer i.e. latitude and longitude while carrying out Digital KYC as per RBI Master guidelines on KYC norms.

Purpose of Collection and Use of Personal Information

Bank requires this information to comply with KYC norms and to understand financial needs of its customers and to provide them a better service and in particular for the following reasons:

The Bank collects and uses the financial information and other personal information from its customers. This information is collected and used for specific business purposes or for other related purposes designated by the Bank or for a lawful purpose to comply with the applicable laws and regulations. The Bank shall not divulge any personal information collected from the customer, for cross selling or any other purposes. The authenticity of the personal information provided by the customer shall not be the responsibility of the Bank. Any information that is freely available or accessible in public domain or furnished under the Right to Information Act, 2005 or any other law for the time being in force shall not be regarded as personal information for the purposes of this Policy and the Bank shall not be responsible for the same.

Disclosure of Information

Bank does not release customer information except as directed by law or as per customer mandate. Bank shall not share specific information about customer accounts or other personally identifiable data with non-affiliated third parties for their independent use unless:

  • The information provided is to help complete a transaction initiated by the customer;
  • Customer requests or authorises it;
  • The disclosure is required by/or directed by law; or
  • The disclosure has been agreed in a written contract or otherwise between the Bank and the customer;
  • The Bank is required to disclose the personal information to a third party on a need-to-know basis, provided that in such case the Bank shall inform such third party of the confidential nature of the personal information and shall keep the same standards of information/ data security as that of the Bank.
  • Customer has been informed about the possibility of such disclosure for marketing or similar purposes through a prior communication and has been given the opportunity to decline

Personal Information Security

The security of personal information about the customers shall be the Bank’s priority. Only authorised staff of Bank will have access to customer’s personal information. The employees of Bank with access to customer’s information, need it to do their jobs, and are required to strictly maintain customers’ confidentiality. All employees of Bank are kept up-to-date on Bank’s security and privacy practices. In addition, Bank maintain physical, electronic and procedural safeguards that comply with applicable law, and Bank routinely test systems and website to ensure that unauthorized access doesn't occur.

Storing of Personal Information

Once Personal Information is collected from the Customers, it is the responsibility of The Bank to store it in a secure environment. Personal information is stored on secure servers. Where the Customer has been given a user name, Password/Pin Number, which enables Customer to access some services of the bank, the Customer shall be responsible for keeping this username, password/Pin number confidential.

Disposal of Personal Information

The Bank shall destroy Personal information in its possession, when it is concluded that such information is no longer needed and the bank is not under a legal obligation to retain the information anymore. Due precaution shall be taken prior to destruction of such information.

Reasonable Security Practices and Procedures

The security of personal information is a priority and is protected by maintaining physical, electronic, and procedural safeguards that meet applicable laws. The Bank shall take reasonable steps and measures to protect the security of the customer’s personal information from misuse and loss, un-authorized access, modification or disclosure. 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 confidentiality of any personal information held by the Bank.

Changes to our privacy and information handling practices

Privacy policy is subject to change periodically. The Bank may make changes to its privacy and information handling practices from time to time for any reason more particularly as a result of changes in statutory and regulatory guidelines. It will publish those changes in practice on the web site and, if there are important changes or a lot of minor changes, by updating this document. In order to address any discrepancies or grievances related to the personal information residing with the Bank, the customer may visit: