TERMS AND CONDITIONS - Vedika Paytech

Effective Date: 22 July 2026
Last Updated: 22 July 2026

These Terms and Conditions govern your access to and use of the Vedika Paytech website, digital platform and loan-related services.

By accessing this website, submitting information, creating an application or using any service, you confirm that you have read, understood and agreed to these Terms and Conditions.

1. About Vedika Paytech

Vedika Paytech provides a digital platform through which eligible customers may apply for business loans and other financial products offered by an RBI-regulated lending institution.

The identity, registered address, RBI registration details and contact information of the actual lender will be disclosed to the applicant before execution of the loan agreement.

Vedika Paytech does not guarantee approval, sanction or disbursement of any loan.

Where Vedika Paytech itself is the regulated lender, the applicable legal name and RBI registration details shall be displayed on the website and loan documents.

2. Acceptance of Terms

By using the website or submitting a loan application, you confirm that:

You are legally competent to enter into a contract.
You have provided accurate and complete information.
You agree to the applicable Privacy Policy and Consent Terms.
You authorise permitted verification of the information submitted by you.
You agree to receive service-related communications.
You will comply with the final loan agreement and repayment schedule.

If you do not agree with these Terms and Conditions, you should not use the platform or submit a loan application.

3. Eligibility

An applicant may apply for a loan where the applicant:

Is an Indian citizen.
Meets the prescribed age criteria.
Owns or operates a lawful business.
Has a regular and verifiable source of income.
Maintains an active bank account.
Holds valid identity and address documents.
Meets the lender’s credit and repayment-capacity criteria.
Is located within the permitted service area, wherever applicable.

Meeting the eligibility conditions does not guarantee loan approval.

4. Loan Purpose

A business loan may be used for legitimate business purposes, including:

Purchasing stock or inventory
Managing working-capital requirements
Purchasing machinery or equipment
Renovating or expanding a shop
Meeting seasonal business expenses
Establishing or developing a lawful business
Other purposes approved by the lender

The loan must not be used for:

Illegal activities
Gambling or betting
Speculative transactions
Purchase of prohibited goods
Money laundering or fraudulent activity
Any purpose prohibited by law or the loan agreement

The lender may request evidence regarding the utilisation of the loan.

5. Loan Amount and Tenure

Business loan amounts may start from ₹1,00,000, subject to the applicable product policy.

The final sanctioned amount and repayment tenure will depend on factors including:

Business income and cash flow
Repayment capacity
Credit history
Existing financial obligations
Business stability
Loan purpose
Verification results
Internal credit policy

The final loan amount, tenure and repayment schedule will be stated in the Key Fact Statement, sanction letter and loan agreement.

6. Application Process

The loan application process may include:

Submission of personal and business information
Mobile number and identity verification
KYC and document verification
Business and address verification
Bank account and income assessment
Credit bureau assessment
Telephonic, digital, video or physical verification
Internal credit assessment
Issuance of a loan offer and Key Fact Statement
Acceptance and execution of loan documents
Disbursement after completion of all conditions

Submission of an application does not create an obligation on Vedika Paytech or the lender to approve or disburse a loan.

7. Information and Documents

The applicant may be required to provide:

Aadhaar or another officially valid identity document
PAN or Form 60, wherever applicable
Photograph
Address proof
Bank statements
Business proof
Income or turnover details
GST registration, where applicable
Business licences or registrations
Details of existing loans
Additional documents required for assessment

The applicant confirms that all information and documents submitted are true, genuine, complete and current.

False information, forged documents, impersonation or material non-disclosure may result in:

Rejection of the application
Cancellation of a sanctioned loan
Recall of the outstanding loan
Reporting to appropriate authorities
Civil or criminal proceedings

8. KYC and Verification

The applicant authorises Vedika Paytech, the lender and their authorised service providers to verify the submitted information in accordance with applicable law.

Verification may include:

KYC and identity verification
PAN verification
Credit bureau checks
Bank account verification
Business and address verification
Income and cash-flow assessment
Fraud-prevention checks
Reference verification
Device and location verification, with applicable consent
Video or physical verification

The applicant may be required to complete periodic KYC updates during the customer relationship.

9. Credit Bureau Authorisation

Subject to the applicant’s consent and applicable law, the lender may:

Obtain credit reports from authorised Credit Information Companies.
Verify existing and previous credit facilities.
Report loan sanction, disbursement and repayment information.
Report overdue, default, settlement or closure information.
Correct or update reported information where necessary.

Delayed or missed repayments may negatively affect the borrower’s credit history and ability to obtain future credit.

10. Loan Approval and Rejection

The lender has the right to:

Approve or reject an application
Sanction an amount lower than requested
Modify the proposed tenure
Request additional documents
Impose reasonable conditions
Withdraw an offer before execution or disbursement where material information changes

Approval decisions may be based on credit assessment, repayment capacity, risk policy and applicable legal requirements.

The lender is not required to approve an application merely because the applicant meets basic eligibility criteria.

11. Interest Rate and Charges

The applicable interest rate, Annual Percentage Rate and charges will be disclosed before the borrower accepts the loan.

The borrower will receive a Key Fact Statement containing applicable details such as:

Sanctioned loan amount
Interest rate
Annual Percentage Rate
Loan tenure
Instalment amount
Repayment frequency
Processing fee
Applicable taxes
Insurance charges, where voluntarily selected or legally required
Penal charges
Prepayment or foreclosure conditions
Total amount payable

No fee or charge forming part of the credit cost will be collected unless disclosed in the applicable loan documents.

12. Key Fact Statement

The borrower should carefully review the Key Fact Statement before accepting the loan.

The Key Fact Statement will form part of the loan documentation and will contain the principal financial terms of the facility.

Where there is any conflict between general website information and the executed loan documents, the Key Fact Statement, sanction letter and loan agreement will prevail.

13. Loan Agreement

The borrower must read and accept the loan agreement before disbursement.

The loan agreement will specify:

Rights and responsibilities of the parties
Sanctioned amount
Interest calculation
Repayment schedule
Applicable charges
Events of default
Recovery and collection procedures
Prepayment and foreclosure terms
Dispute-resolution provisions
Other binding conditions

A copy of the executed loan agreement and related documents will be provided to the borrower electronically or physically.

14. Disbursement

After successful verification and completion of documentation, the sanctioned amount may be transferred to:

The borrower’s verified bank account; or
An authorised supplier or beneficiary, where applicable and disclosed.

Cash disbursement will not ordinarily be permitted unless specifically allowed under applicable law and company policy.

Vedika Paytech or the lender will not be responsible for delays caused by:

Incorrect bank details
Bank or payment-system failure
Incomplete documentation
Verification delays
Legal or regulatory restrictions
Events beyond reasonable control

15. Repayment

The borrower must repay the loan according to the agreed repayment schedule.

Permitted payment channels may include:

NACH or electronic mandate
UPI
Bank transfer
Approved payment gateway
Authorised digital collection channels
Other officially communicated payment methods

Payments must not be made to:

Personal bank accounts of employees or agents
Unauthorised QR codes
Unauthorised collection representatives
Any payment channel not officially communicated by the lender

The borrower should retain the receipt or transaction confirmation for every payment.

16. Automated Payment Mandates

Where the borrower provides an electronic payment mandate, the borrower must:

Maintain sufficient balance before the repayment date.
Ensure that the bank account remains active.
Notify the lender of any change in bank-account details.
Avoid cancelling the mandate without arranging an alternate payment method.

Failure of an automated payment does not remove the borrower’s obligation to pay the instalment on time.

17. Delayed Payment and Default

Failure to pay an instalment or comply with material loan conditions may result in:

Applicable penal charges
Collection and recovery follow-up
Reporting to Credit Information Companies
Negative impact on the borrower’s credit score
Suspension of further credit facilities
Recall of the loan
Legal or recovery proceedings
Other consequences stated in the loan agreement

Penal charges will not be levied as an additional penal rate of interest. The amount and reason for penal charges will be disclosed in the applicable loan documents.

Penal charges will not be capitalised for charging further interest on those charges.

18. Repayment Difficulty

A borrower facing genuine repayment difficulty should immediately contact the lender through an official customer-care or branch channel.

Any restructuring, deferment, settlement or repayment arrangement will be subject to:

Applicable law
Regulatory requirements
Lender approval
Credit assessment
Written confirmation

An oral assurance by an employee, agent or recovery representative will not modify the loan agreement unless formally authorised and confirmed in writing.

19. Prepayment and Foreclosure

The borrower may request partial prepayment or full foreclosure of the loan.

Applicable conditions, documentation and charges, if any, will be disclosed in:

The Key Fact Statement
Sanction letter
Loan agreement
Foreclosure statement

The borrower should obtain a written closure confirmation and No-Dues Certificate after settlement of all outstanding amounts.

20. Cooling-Off Period

Where applicable to a digital loan, the borrower may be provided a cooling-off period specified in the Key Fact Statement or loan agreement.

During the cooling-off period, the borrower may exit the loan by paying:

The principal amount utilised
Proportionate interest for the period
Any disclosed one-time processing fee permitted under applicable requirements

The cooling-off facility will be governed by the terms disclosed before loan acceptance.

21. Borrower Responsibilities

The borrower must:

Provide true and complete information.
Submit genuine documents.
Use the loan only for the approved purpose.
Pay instalments on time.
Maintain sufficient balance for automated payments.
Inform the lender of changes in address, mobile number, bank account or business.
Keep passwords, PINs and OTPs confidential.
Report fraud or unauthorised activity immediately.
Cooperate with lawful verification and recovery procedures.
Treat authorised representatives respectfully.
Comply with the loan agreement.

The borrower remains responsible for transactions authenticated using the borrower’s credentials, except where unauthorised use is reported and established in accordance with applicable policy.

22. Borrower Rights

The borrower has the right to:

Receive clear information regarding the loan.
Know the identity of the regulated lender.
Review the Key Fact Statement before acceptance.
Receive copies of the sanction letter and loan agreement.
Receive repayment statements and payment receipts.
Know the details of applicable fees and charges.
Be treated fairly and respectfully.
Know the identity of authorised recovery representatives.
Raise complaints without charge.
Request correction of inaccurate information.
Exercise applicable privacy and consent rights.
Receive a No-Dues Certificate after complete repayment.
Receive reasonable notice of material changes in loan terms.

23. Communication Consent

The applicant agrees to receive necessary communications regarding:

Application status
Verification
Loan offers
Documentation
Disbursement
Repayment reminders
Failed payments
Account statements
Security alerts
Customer support
Regulatory notices

Communications may be sent through calls, SMS, WhatsApp, email, application notifications or other registered channels.

Promotional messages will be sent only in accordance with applicable consent and communication preferences.

Withdrawal from promotional communication will not stop essential service or transaction-related messages.

24. Data and Privacy

Personal information will be collected, processed, stored and shared in accordance with the Privacy Policy, applicable law and the consent obtained from the customer.

The customer should review the Privacy Policy before submitting an application.

Vedika Paytech and the lender may use authorised service providers for KYC, technology, communication, payment processing, credit assessment, servicing and recovery.

Personal information will not be sold or rented to third parties.

25. Device Permissions

Where digital permissions are required, the purpose of each permission will be disclosed to the customer.

Vedika Paytech will not access unrelated:

Contact lists
Call logs
Personal messages
Photographs
Media files
Mobile-phone resources

unless specifically required for a lawful purpose and separately consented to by the customer.

The customer may refuse optional permissions, although refusal of a permission essential for verification may prevent completion of the application.

26. Third-Party Service Providers

The platform may use third-party providers for:

KYC and identity verification
Credit bureau services
Bank verification
Payment processing
Document execution
Cloud hosting
Cybersecurity
Communication
Customer support
Collection and recovery

Use of such services will be limited to legitimate and authorised purposes.

Vedika Paytech is not responsible for independent third-party services that are accessed voluntarily outside the authorised loan journey.

27. Recovery and Collection Practices

In case of overdue payments, the lender or its authorised representative may contact the borrower for repayment.

Recovery activities will be conducted in accordance with applicable law and the lender’s Fair Practices Code.

Recovery representatives must not:

Use threats or abusive language
Publicly humiliate the borrower
Use physical force
Misrepresent their authority
Contact unrelated persons without legitimate reason
Engage in harassment
Collect payments through unauthorised accounts

The borrower may ask a recovery representative to provide official identification and authorisation details.

28. Fraud Prevention

The customer must immediately report:

Unauthorised transactions
Fake loan applications
Identity theft
Suspicious payment requests
Fraudulent calls or messages
Misuse of documents
Unauthorised access to an account

Vedika Paytech may suspend access, withhold processing or report suspected fraud to the appropriate authorities.

Vedika Paytech will never ask customers to share an OTP, PIN, password or confidential banking credential through an unauthorised channel.

29. Website Use

Users must not:

Use the website for an unlawful purpose.
Attempt unauthorised access to any system.
Upload viruses or malicious code.
Copy or misuse website content.
Submit false or misleading information.
Impersonate another person.
Interfere with website security.
Use automated tools to extract data without permission.
Misuse trademarks or intellectual property.

Access may be restricted or terminated where misuse is detected.

30. Intellectual Property

All website content, including logos, trademarks, text, graphics, software, layout and design, belongs to Vedika Paytech or its respective licensors.

Users may not reproduce, modify, publish, distribute or commercially exploit such content without prior written permission.

31. Availability of Services

Vedika Paytech may:

Modify or discontinue website features.
Conduct scheduled maintenance.
Restrict access for security reasons.
Update application processes.
Change product availability.
Correct technical or content errors.

Continuous or error-free availability of the website is not guaranteed.

32. Disclaimer

Information displayed on the website is general in nature and does not constitute:

A binding loan offer
Guaranteed approval
Financial advice
Legal advice
A commitment to disburse funds

The final and binding loan terms will be contained in the Key Fact Statement, sanction letter and executed loan agreement.

RBI registration of a lender does not constitute a guarantee of repayment, financial soundness or endorsement of its products.

33. Limitation of Liability

To the extent permitted by law, Vedika Paytech will not be liable for losses arising solely from:

Incorrect information submitted by the user
Failure to protect passwords or OTPs
Unauthorised third-party websites
Banking or payment-system failures
Internet or device failure
Events beyond reasonable control
User violation of these Terms
A credit decision made in accordance with applicable policy

Nothing in these Terms excludes liability that cannot legally be excluded.

34. Indemnity

The user agrees to indemnify Vedika Paytech and its authorised partners against reasonable losses arising from:

Fraudulent use of the platform
False information or forged documents
Violation of applicable law
Infringement of third-party rights
Material breach of these Terms

This clause will apply only to the extent permitted by law.

35. Grievance Redressal

For complaints regarding the platform or loan service, contact:

Grievance Redressal Officer

Name: [Insert Officer Name]
Designation: [Insert Designation]
Email: [Insert Grievance Email]
Phone: +91 9431710000
Address: [Insert Complete Office Address]
Working Hours: [Insert Working Hours]

The complaint should include:

Customer name
Registered mobile number
Application or loan number
Description of the complaint
Supporting documents, where applicable

Complaints will be addressed within the timeline prescribed under applicable law and company policy.

36. Escalation

Where a complaint relates to a loan offered by an RBI-regulated lender, the customer should first approach the lender’s Grievance Redressal Officer.

If the complaint is not resolved within the applicable period or the customer is dissatisfied with the response, the customer may approach the appropriate RBI complaint or ombudsman mechanism, wherever applicable.

The lender’s escalation details will be provided in the loan documents and on the applicable website page.

37. Governing Law and Jurisdiction

These Terms and Conditions will be governed by the laws of India.

Subject to applicable statutory complaint and dispute-resolution rights, courts having jurisdiction over [Insert City and State] will have jurisdiction over disputes relating to the website or services.

The jurisdiction clause will not restrict any mandatory consumer or regulatory remedy available under applicable law.

38. Changes to These Terms

Vedika Paytech may update these Terms and Conditions due to changes in:

Applicable law
Regulatory requirements
Products or services
Technology
Business processes
Security requirements

The updated Terms will be published on the website with the revised effective date.

Changes to an existing loan will be governed by the executed loan documents and applicable law and will not be made retrospectively without proper communication or consent where required.

39. Severability

If any provision of these Terms is declared invalid or unenforceable, the remaining provisions will continue to remain effective.

40. Contact Information

Vedika Paytech

Customer Care: +91 9431710000
Email: [Insert Customer Care Email]
Website: [Insert Website URL]
Office Address: [Insert Complete Office Address]

Regulated Lender Information

Legal Name: [Insert Lender’s Legal Name]
RBI Registration Number: [Insert RBI Registration Number]
CIN: [Insert CIN]
Registered Office: [Insert Registered Office Address]
Customer Care: [Insert Contact Number]
Grievance Email: [Insert Grievance Email]

By using the website or submitting a loan application, you acknowledge that you have read, understood and accepted these Terms and Conditions.