BeMax Privacy Policy
BeMax operates the web portal www.bemax.co.in and the mobile application ‘BeMax’ in India, collectively referred to as the “Portal,” providing a ‘Social Investment Platform’ to assist users in learning and mastering ‘Trading and Investment.’ In this document, BeMax is denoted as “BeMax,” “we,” “us,” or “our.” Any individual using the Portal or its features, including participating in activity or any social activities on BeMax (‘Services’), is legally bound by this Privacy Policy. This policy should be read alongside our Agreements, including all other applicable terms and disclaimers available on the Portal, forming legally binding agreements between users and BeMax.
BeMax prioritizes the security of its clients and is committed to ensuring it in all aspects. In order to provide an enriching and comprehensive online experience, BeMax offers a vast array of services. For more information about BeMax, please refer to the “About Us” section. Client information is collected by BeMax through (I) data provided by clients as part of their registration on the portal, etc., and (II) information automatically tracked during Users’ navigation on BeMax.
Before you provide any information to the portal, please read this Privacy Policy to understand how we will handle your personal information. By using any part of the portal, you consent to the collection, use, disclosure, and transfer of your personal information for the purposes outlined in this Privacy Policy. If you do not agree to this Privacy Policy, please refrain from using the portal. Your acceptance of this Privacy Policy and the collection, use, and disclosure of your personal information in accordance with this policy is indicated by your use of any portion of the portal. While you have the option not to provide certain information or withdraw your consent to our collection or processing of information, please note that in such an event, you may not be able to fully enjoy the entire range of features and services offered to you, and we reserve the right not to provide you with our services.
Legality of Educational Competitions:
- BeMax organizes educational competitions, including contests focused on financial literacy, with the aim of enhancing user knowledge and skills. It’s crucial to recognize that the legality of these educational competitions may be subject to relevant laws and regulations.
- Users are strongly advised to carefully review and comply with the terms and conditions specified by BeMax before participating in any educational competitions. BeMax underscores the importance of understanding and adhering to local laws and regulations governing such skill-based contests.
- Participants should acknowledge that educational contests on BeMax are not games of chance; instead, they are skill-based, necessitating knowledge and proficiency in specific subject matters. Users are encouraged to use the platform responsibly and in accordance with applicable legal requirements.
Purpose and Usage of information collected by BeMax:
BeMax needs to obtain or gather data to operate, deliver, enhance, comprehend, personalize, support, and market our services, including the installation, access, or use of our services.
Depending on your usage of our services, we receive and collect various types of information. To provide our services, specific data is necessary, and without it, we cannot offer our services to you. For instance, creating an account to use our services requires providing your mobile phone number. To access certain features of the app and the portal, users are required to provide the following information during the registration process:
– Username
– Password
– Mobile number
– Access to Contact List
Our services include optional features that, if used, necessitate the collection of additional information to provide those features. Notification of such collection will be provided as appropriate. Choosing not to provide the required information for a feature will result in the inability to use that feature. Users also have the option to enhance their accounts with additional information, such as authenticating their accounts with LinkedIn or Facebook for accessing extra features of our services.
As we progress, you may be asked to furnish additional details like your date of birth, email address, location, SMS access, Permanent Account Number, and Know Your Customer (KYC) particulars, including bank account information for money transfers. This is required for granting you access to services, utilizing the portal’s features, and ensuring your identity. While we currently do not collect these particulars, potential changes in regulations and requirements may lead us to initiate collection in the future. On BeMax, there’s a possibility of acquiring Sensitive Personal Information (SPI) from you in specific situations. SPI encompasses confidential information such as passwords or financial data, presented to you during payments to facilitate swift transactions. Except for passwords or financial details voluntarily provided during payments for BeMax services, we do not gather any other SPI during the provision of BeMax services. Any SPI gathered by BeMax shall not be disclosed to any third party without your explicit consent, except as otherwise specified in this Privacy Policy or mandated by law. It’s important to note that publicly available information about you on the Portal, including SPI, is exempt from this provision.
The information you provide and how we use such information:
Your Account Information (Mobile Number, Username): To create a BeMax account, you must provide your mobile phone number and basic information, including a profile username of your choice. Without this information, you won’t be able to use our services.
For an enhanced experience, you can choose to augment your profile with additional details such as a brief bio, profile picture, and other information. This helps other users discover and connect with you in the community. Access to Contact List: Utilizing the contact upload feature, you can furnish us with phone numbers from your address book, including those of our Services’ users and your other contacts, if permitted by applicable laws. If any of your contacts are not yet using our Services, we handle this information in a way that ensures their anonymity. Users may use this feature to invite others to join any of the Services provided by BeMax. BeMax may use this information to contact and invite the Invited User (if not already a BeMax user) to register on the Portal and participate in the activity for which they were invited.
Users may also invite other users (‘Invited Users’) by providing their email address, Facebook username, WhatsApp handle, or phone number to participate in any Services. BeMax may use this information to contact and invite the Invited User (if not already a BeMax user) to register on the Portal and participate in the activity for which they were invited. The involvement of the Invited User in any PrepZone/activity is subject to the terms of this Privacy Policy and the Terms and Conditions for using the Portal. The User affirms that the Invited Users have consented to such disclosure and use of their email address, WhatsApp contact details, or Facebook username by BeMax. The provided information is specific to the PrepZone activity the user intends to join and will be used for delivering services, including but not limited to those requested by the User. BeMax may also share this information with affiliates and third parties in limited circumstances, such as providing services requested by the User, complying with legal processes, preventing fraud or imminent harm, and ensuring network and service security.
Connecting Social Media Accounts to Your BeMax Account:
When you link your BeMax account to your Facebook or LinkedIn accounts, you grant permission to Facebook or LinkedIn to share with us your name, profile picture, and email address (if associated with your Facebook or LinkedIn account).
We will then utilize this data to establish your social profile on your BeMax account. If you uninstall the BeMax app from your Facebook or LinkedIn settings, we will no longer have access to this data. However, we will retain the personal data received when you initially set up your BeMax account using your Facebook or LinkedIn credentials (complete deletion of your BeMax account is necessary for us to cease access to this data).
Disclosure/Sharing:
BeMax may also share information provided by you and data regarding the usage of the Services, Portal, and participation in the PrepZone on the Portal with third-party service providers engaged by BeMax. This sharing is for purposes such as data analysis or similar activities, aiming at improving services and enhancing BeMax’s ability to serve you effectively. If we intend to use your personal information (information that may identify the User and is not publicly available) for purposes other than those mentioned, we will notify you in advance.
By utilizing the Portal, you explicitly agree and provide consent for the collection, use, and storage of this information by BeMax. BeMax reserves the right to share, disclose, and transfer information collected hereunder with its affiliates. In the event that BeMax sells or transfers all or a portion of its business assets, consumer information may be one of the business assets shared, disclosed, or transferred as part of the transaction. You expressly grant consent and permission to BeMax for the disclosure and transfer of information to such third parties. BeMax may share information provided by you and data regarding your usage of the Services and participation in the PrepZone on the Portal with its business partners to facilitate user engagement, for marketing and promotional purposes, and other related activities. Furthermore, BeMax reserves the right to disclose personal information as required by law, in response to duly authorized legal processes, government requests, and as necessary to protect the rights and interests of BeMax.
Use of Cookies:
To enhance the effectiveness and user-friendliness of the Portal for our Users, we utilize ‘Cookies’ or similar electronic tools to gather information, assigning each visitor a unique random number as a User Identification (User ID) to comprehend the individual interests of the User using the identified computer. Unless the User voluntarily identifies themselves (e.g., through registration), BeMax has no way of knowing who the User is, even if a cookie is assigned to the User’s computer. The only personal information a cookie can contain is information supplied by the User. A cookie cannot read data off the User’s hard drive. BeMax’s advertisers may also assign their own cookies to the User’s browser (if the User clicks on their ad banners), a process over which BeMax has no control. BeMax’s web servers automatically collect limited information about the User’s computer’s connection to the Internet, including the User’s IP address when visiting the Portal. (User’s IP address is a number that lets computers attached to the Internet know where to send data to the User—such as the web pages viewed by the User). BeMax uses this information to deliver its web pages to Users upon request, customize its Portal to the interests of its users, measure traffic within the Portal, and inform advertisers of the geographic locations of BeMax’s visitors.
Legality of Educational Competitions:
- BeMax organizes educational competitions, including contests focused on financial literacy, with the aim of enhancing user knowledge and skills. It’s crucial to recognize that the legality of these educational competitions may be subject to relevant laws and regulations.
- Users are strongly advised to carefully review and comply with the terms and conditions specified by BeMax before participating in any educational competitions. BeMax underscores the importance of understanding and adhering to local laws and regulations governing such skill-based contests.
- Participants should acknowledge that educational contests on BeMax are not games of chance; instead, they are skill-based, necessitating knowledge and proficiency in specific subject matters. Users are encouraged to use the platform responsibly and in accordance with applicable legal requirements.
Links:
BeMax may also provide links to other websites. These websites are governed by their respective privacy policies, which are beyond the control of BeMax. When the User leaves BeMax’s servers, the use of any information provided by the User is subject to the privacy policy of the operator of the website being visited by the User. This policy may differ from BeMax’s own. If the User cannot locate the privacy policy of any of these sites through a link from the site’s homepage, the User may contact the website directly for more information. BeMax is not responsible for the privacy practices or content of such websites.
Disclaimer: Please note that BeMax is not a SEBI-registered entity, and its services are not subject to SEBI regulations. Users engaging in skill-based learning contests on BeMax are advised to participate responsibly, recognizing the non-SEBI registered status of BeMax. Hence, benefit of Investor protection under SEBI / Exchange(s) Jurisdiction, Exchange dispute resolution mechanism and Investor grievance redressal mechanism administered by Exchange(s) will not be available with the Users.
Security Measures:
All information gathered on BeMax is securely stored within BeMax-controlled databases and protected by reasonable security practices and protocols. Servers housing the database are secured by firewalls, with access restricted through password protection to only those with a legitimate need to know. However, while our security measures are effective, it’s important to note that no security system can offer absolute assurance. Consequently, we cannot guarantee the complete security of our database or the confidentiality of information transmitted to us over the Internet.
Moreover, any information you post or share on the Portal will be accessible to anyone with Internet access unless explicitly specified on the Portal. By utilizing the Portal, you comprehend and agree that your information may be used in or transferred to countries other than India, and you explicitly consent to this.
BeMax acknowledges the dynamic nature of the internet as an ever-evolving medium. We reserve the right to periodically review and modify our Privacy Policy to accommodate future changes deemed appropriate, without prior notice to you. Our utilization of any gathered information will consistently align with the policy under which the information was collected, regardless of any updates to the policy. Any alterations to our Privacy Policy will be posted on this page to ensure you are consistently aware of what information we collect, how we utilize it, how we store it, and under what conditions we disclose it.
Advertising:
BeMax typically provides aggregated statistics on traffic to various pages on our website to online advertisers, aiding them in understanding our audience and assessing the value of advertising on BeMax. Upon registering with BeMax, we may contact you periodically to update your content, offering features we believe could enhance your experience. It’s crucial to be cautious of misleading messages, websites, blogs, etc., falsely claiming association with BeMax, circulating on the Internet. Such communications may include our logo, photos, links, or other information. Users are strongly advised against responding to these messages for their safety. BeMax may use the information you provide, including your email address or phone number, to contact you about the services you’ve availed or to inform you of any updates to our services.
Limitation:
BeMax will not be liable for any damages arising from the use of this Portal, including compensatory, direct, indirect, incidental, punitive, special, and consequential damages, loss of data, goodwill, business opportunity, income, or profit, loss of or damage to property, and claims of third parties. In no event will BeMax be liable for damages exceeding INR [5000].
User Account Deletion, Data Retention, and Data Deletion:
Users can request BeMax to delete their accounts and personal information by following these steps:
- Sign in to the BeMax application.
- Tap on the profile icon.
- Click on Edit.
- Scroll to the bottom of the page and tap Delete My Account.
Note: Account deletion results in the permanent loss of user data and associated information. Personal information may be retained and used until the relevant purposes for its use are no longer applicable, and regulatory, legal, or legitimate business requirements do not mandate its retention.
When an account is deleted, it becomes invisible in the application. Recovery is possible within 28 days. After this period, the deletion process of personal information commences unless retention is necessary for regulatory compliance, verification of compliance, resolution of issues, claims, or disputes, or for legitimate economic reasons.
Caution: Even after information removal or account deletion, copies may still be accessible or obtained if shared, copied, or stored by others. BeMax has no control over this and disclaims liability. If third-party apps or websites have accessed your information, they may retain it per their terms of service or privacy policies.
Applicable Law and Jurisdiction:
By visiting this Portal, you agree that Indian laws govern this Privacy Policy, and any disputes arising in relation to it are subject to the dispute resolution process outlined in the Agreements.
Updating Information:
You must promptly inform BeMax of any changes or updates to your information. Additionally, you can review, correct, update, or modify your information and user preferences by logging into your Profile page on BeMax.
Contact Us:
For any questions, statements regarding this Policy, or complaints, comments, concerns, or feedback, you can contact our Complaint Official at:
Contact
Email: support@bemax.co.in
