Privacy Policy

    [Right Alpha Capital Private Limited - Execution Service Department]

 

 

Effective Date: 11 December, 2023

Right Alpha Capital Private Limited (erstwhile known as Matdev Investment Advisers Pvt Ltd), a company registered under the Companies Act, 2013 (through its execution platform department) (“RightAlpha”, “Company”, “We” or “Us”) and registered as an Investment Adviser (“IA”) under the Securities Exchange Board of India (Investment Advisers) Regulations 2013 (“SEBI IA Regulations”) having RIA no. INA200015592 dated June 13, 2023 to carry on the business of investment advisory services, for providing mutual funds execution and tracking services, including providing a platform for executing transactions in direct plans of mutual funds and tracking of mutual funds via its separate execution department (“MF Product App”) through the Coinswitch Platform, an application owned and managed by Bitkuber Investments Pvt. Ltd. (“Bitkuber”). 

 

We welcome “You” or ‘Your’ as our “ User(s)” to invest in, track and manage their investments in direct plans of mutual fund schemes (“Services”) and appreciate Your interest in our MF Product App. This Privacy Policy (“Policy”) describes how We collect, receive, store, possess, deal, handle, process, share, use, disclose and protect  User Information that may directly or indirectly, identify You or related to You or in connection with Your usage of the MF Product App during and after Your relationship with Us.      

 

NOTE: All capitalized terms not defined in this Policy shall have the meaning ascribed to it in the Investment Advisory Agreement (“Agreement”) executed between You and the Company. Access to Agreement will be upon successful completion of Rightalpha’s on-boarding process. 

 

Consent. By clicking “I agree” to the Terms and this Privacy Policy while registering for our Services, or by accessing or using the MF Product App in any manner You consent to this Policy. 

 

THIS POLICY CONSTITUTES A LEGAL AGREEMENT BETWEEN YOU, AS THE USER OF MF PRODUCT APP AND US, AS THE PROVIDER OF MF PRODUCT APP ON THE BITKUBER PLATFORM. BY REGISTERING FOR MUTUAL FUND SERVICES WITH RIGHTALPHA OR BY OTHERWISE USING MF PRODUCT APP, YOU ARE HEREBY PROVIDING RIGHTALPHA YOUR EXPRESS CONSENT TO VOLUNTARILY PROVIDING AND ALLOWING RIGHTALPHA TO USE, COLLECT, ACCESS, PROCESS, STORE, DISCLOSE AND PROTECT THE USER INFORMATION IN ACCORDANCE WITH THIS POLICY. THIS POLICY DOES NOT APPLY FOR SERVICES OR THIRD-PARTY PLATFORMS (WHICH MAY HAVE THEIR OWN PRIVACY POLICY OR PRIVACY NOTICE) THAT ARE CONNECTED VIA. LINKS TO MF PRODUCT APP.

IF YOU DO NOT AGREE WITH THIS POLICY, PLEASE DO NOT PROCEED FURTHER. TO USE MF PRODUCT APP. ALSO, IN THE ABSENCE OF AN ACCEPTANCE OF THE POLICY BY YOU, WE WILL NOT BE ABLE TO PROVIDE SERVICES UNDER THE MF PRODUCT APP OR ONE OR MORE FEATURES OF MF PRODUCT APP TO YOU. FURTHER, YOU WILL HAVE THE OPTION TO NOT PROVIDE YOUR CONSENT, OR WITHDRAW ANY CONSENT GIVEN EARLIER, PROVIDED THAT THE DECISION TO NOT PROVIDE CONSENT / WITHDRAWAL OF THE CONSENT IS INTIMATED TO US IN WRITING. IF YOU DO NOT PROVIDE US USER INFORMATION OR WITHDRAW THE CONSENT TO PROVIDE US WITH ANY OF YOUR USER INFORMATION AT ANY POINT IN TIME, WE SHALL HAVE THE OPTION NOT TO PROVIDE MF PRODUCT APP OR ONE OR MORE FEATURES OF MF PRODUCT APP OR THE BENEFITS OF MF PRODUCT APP OR SERVICES THEREIN FOR THE PURPOSES OF WHICH THE SAID USER INFORMATION WAS SOUGHT.

 

THIS POLICY IS ENTERED INTO INTER ALIA AS PER THE REQUIREMENTS OF THE INFORMATION TECHNOLOGY ACT, 2000 AND THE RELEVANT RULES MADE THEREUNDER.

 

2. THE DATA AND INFORMATION ABOUT YOU

 

You may share, disclose and provide, and Rightalpha may collect, receive, store, possess, deal, handle, process, share, use, disclose and protect different categories of Personal Data^[1], including  Sensitive Personal Data Information^[2] ("SPDI”), or such similar data and information known by any other term under the Applicable Laws, about You  or the data and information related to You or in connection with Your usage of any one or more features or services of the MF Product App (collectively referred to as “User Information”). Such  User Information (which shall include Personal Data, SPDI, and Non-Personal Data and more specifically the data or information as identified below) is only collected and processed with Your consent for performance of our contract with You, unless otherwise required or permitted under the Applicable Laws. Below is an indicative (and not comprehensive and complete) nature of data about You which we have grouped together:

 

1.       Identity Data: includes, without limitation first name, last name, username or similar identifier, country of origin, occupation marital status, father’s full name, title, date of birth, selfie, nominee details and gender, PAN number and officially valid document details including Aadhaar number details in compliance with applicable law.
2.       Contact Data: includes, without limitation, proof of address, current (residing) state, email address and telephone/mobile numbers eg. instant messaging account;.
3.       Financial Data: includes bank account details, mutual fund folio number/folio details, list of extant assets and liabilities and/or payment instrument details, source of wealth, gross annual income.
4.       Transaction Data: includes, without limitation details of any transaction whether financial or otherwise entered into by You with Us or on the MF Product App.
5.       Technical Data: includes without limitation internet protocol (IP) address, cookies, computer or device information, device location, storage, model or mobile network, promotional SMS or App notifications, information related to Your browser and operating system.
6.       Usage Data: means a variety of data and information to better understand You, which may include information about the webpage that you were visiting before, the MF Product App and the Services features You used or browsed, date and time of the same, and information about You, Your usage preferences, which includes Your journey, transaction history, behavioural and any other information about how You use the MF Product App.
7.       Profile Data: includes, without limitation, Your Identity Data, Contact Data, Financial Data, Transaction Data,risk profiling, interests, preferences, feedback, survey responses and all data (including Personal Data) contained in Your User profile under Your account, and which may contain data and information populated by You;
8.       Marketing and Communications Data: shall include, without limitation,Your preferences in receiving Ours, MF Product App service providers, or third parties’ marketing and promotional communications / content from Us. 

 

The term ‘User Information’ does not include non-personal data i.e.:

1. data where the identity has been removed (i.e. anonymous or anonymised data);
2. aggregated data (eg. statistical or demographic data) which is non-personal information, for example, aggregated or anonymized information about users and other information that does not identify any individual (i.e. aggregated data).

 

You hereby explicitly agree and acknowledge that We may use, store, process, disclose, share, create derivative works of etc. the above non-personal data identified in (a) and (b) above for any purpose what-so-ever unless the same is expressly and to the extent prohibited to be used, stored, processed, disclosed or shared under any applicable law that applies to Us.

 

3.1 From User: For provisioning Your User account on MF Product App and for the purposes as set forth in this Policy, We will receive a limited amount of User Information like Identity Data, Contact Data through Bitkuber along with giving You an option to pre-fill Your bank account details. However, for provisioning of Services and for the purposes as set forth in this Policy, You will have to additionally share with Us Your Profile Data and Financial Data by filling in the Mutual Fund APP’s application form on the MF Product App.

3.2 External Service Providers: For completion of the transaction, You authorise Us to collect and receive relevant information (including personal and investment information) in respect of Your transaction with relevant third party entities and their service providers (including but not limited to, AMCs / Registrar and Transfer Agents (“RTAs”) / KYC Registration Agencies (“KRAs”)/ Financial Institutions / third party service providers & partners etc.), which enables Us to collect User Information: (a) to create / register a User account via. AMCs; (b) to collect and facilitate allocation of units opted by User through desired  AMC’s (c) to collect and maintain detailed records of the transactions of Users for the convenience of mutual fund houses (d) to also collect transaction data feed / details regarding unit holdings in respect of your investments from your AMCs through authorised RTAs for updating You on the MF Product App and, (e) to display such data on the main page of Your account. Such data is processed in accordance with Section 6 below.

 

 

1.      Cookies. We may use Cookies to ensure that We give You the best experience on our MF Product App. If You continue to use this MF Product App, We will assume that We have Your consent to undertake processing activities under Section 6 of this Policy. We may also use Cookies in tracking technologies (like web beacons and pixels) to access and store information. Specific information on how we use such technologies and how You can refuse certain cookies is set out in our Visitor/Cookies Policies.

Note that our service providers may use their own technologies and cookies when You avail the Services. To find out more about the cookies they use, please refer to their respective privacy and cookie policies.  

 

2.      External links: While availing Services from authorised entities and any related third party service providers, You may encounter hyperlinks to other websites, content or resources including those provided by such entities. We have no control over such external links shared in lieu of facilitating  and enabling support services, which are provided by persons, service providers and / or companies other than Us. These external/application, and resource providers may have their own privacy policies governing the collection, storage, retention and disclosure of User Information that You may be exposed to. We recommend that You review their respective privacy policy to ensure that privacy of Your User Information is protected by such third parties, including but not limited to service providers.

 

 

We will use Your User Information in any of the following circumstances:

1.      To undertake Know Your Customer (KYC) / Anti-Money Laundering (AML) verifications and other requirements to complete Your registration with Us and otherwise as deemed fit by Us in Our sole discretion.
2.      To provide, or You need to use the MF Product App to avail services on the MF Product App.
3.      To perform Our contractual obligations with You and any other obligations which require the use of Your User Information.
4.      Where We need to comply with a legal or regulatory obligation, or otherwise as required or permitted under applicable laws.
5.      To keep Our MF Product App and Our Users safe and secure.
6.      We may use Your User Information for other purposes, such as data analysis, identifying usage trends, determining the effectiveness of Our promotional campaigns and to evaluate and improve Our MF Product App, marketing and Your experience, or such other purposes as may be identified in this Policy, Terms, or agreed between You and Us.
7.      We may undertake marketing activities for updating Users about the MF Product App and   information connected thereto, as permissible under applicable laws towards Your interest-based advertising.
8.      To create one or more derivative works from Your User Information for improving or enabling MF Product App service providers to provide or improve the Services, or to improve third parties services on the Platform.

 

Without prejudice to the foregoing, We have indicated below a summary of certain specific types of Our processing of certain types of Your User Information. This is merely an indicative list to help You better understand how We may process User Information.

 

 

Why We Process	Type of  User Information	What We Process
To facilitate account creation and authentication and otherwise manage User accounts:   We may process User Information so You can create Your account, as well as keep Your account in working order.	(a) Identity Data  (b) Contact Data (c)  Profile Data  (d) Financial Data	-          PAN Number -          Masked Aadhaar Selfie -          Marital status,  -          Father’s full name -          Bank account details. -          Current State of residence,  -          Country of origin,  -          Occupation,  -          Source of wealth,  -          Gross annual income, [To be captured in Personal Information section] -          Nominee details.  -          Other information as may be required at the time of registration on the MF Product App.
To provide access to more information about our MF Product App and to study how  Users use our MF Product App.	(a) Identity Data (b) Contact Data (c) Profile Data	.We track User behaviour through -          Cookies -          Transaction records of  Users.
To collect and share User Information with respective AMCs for facilitation of Services.   Our operations team will share  User Information for initiating MF Product App through our third party partners, towards supporting in setting up Your designated accounts and facilitating the processing of Your instructions which You may initiate via. Your designated investment account (“Transaction Instructions”).	(a) Identity Data (b) Contact Data (c) Financial Data (d) Transaction Data (e) Profile Data	-          For providing MF Product App to ours. -          Mutual Fund AMCs request Personal Data for managing Your portfolios. -          Informing You about the progress of and issues with, if any, pertaining to the Transactions Instructions initiated by You with respective AMCs and support towards any related resolution thereof or relating to the MF Product App availed by You. -          We engage with registrar and transfer agents (RTAs) to act as a mediator or agent between You and Financial Institutions/AMCs for Us to generate a reverse feed update of Your Transaction Data for updating Financial and Non-Financial Transaction on Your MF Product App.
To deliver relevant recommendations to You about MF Product App that may be of interest to You.   To provide You with information that may be of interest to You.	(a) Identity Data (b) Contact Data (c) Profile Data (d) Usage Data (e) Marketing and Communications Data (f) Technical Data	To study how  Users use our MF Product App and improve customer experience, to provide You with information that may be of interest to You.
Asking You to provide a review or take a survey. This will help us improve our customer representation.	(a) Identity Data (b) Contact Data (c) Profile Data (d) Usage Data	For getting feedback to improve our MF Product App or understanding preferences in certain situations.
To administer and protect our Operations and this MF Product App (including troubleshooting, data analysis, testing system maintenance, support, reporting and hosting data).   To enable data privacy and security policy controls, combat fraud or other unauthorized activity using our MF Product App, track usage of the MF Product App.	(a) Identity Data (b) Contact Data (c) Biometric Data (d) Technical Data (e) Usage Data (f) Profile Data	-          Necessary for our legitimate interests (for running our operations, provision of administration and IT services, network security, to prevent fraud and in the context of reorganisation or restructuring exercise). -          Necessary to comply with legal obligation.

 

 

We may share and disclose User Information with the following third parties and / or in specific situations described in this section:

 

6.1 Rightalpha for the purposes of applicable data protection laws shall act as data fiduciary of the  User Information in connection with the MF Product App. We may outsource certain parts or elements (all being non-core services / elements) of the MF Product App to our group companies and authorised third party service providers, in compliance with Applicable Laws including applicable SEBI regulations. All our service providers are predominantly located in India. Such service providers include:

 

1.       Group entities on service provider basis: Rightalpha may make Your Personal Information and/or other Non-Personal Information available to its group companies, affiliates and subsidiary companies to enable providing You Services through the Coinswitch Platform. Please note that all information shared with group companies, affiliates and subsidiary companies or made available to group companies, affiliates and subsidiary companies will be governed by the terms of this Privacy Policy and as per our internal data access policy.

 

2.        Third Parties: 

1. Independent Mutual Fund AMCs Acting as Data Fiduciaries. We may interact with our Mutual Fund AMC partners for sharing / generating transaction reports while supporting You. We also engage with API vendors who support us to collaborate with Mutual Fund AMC partners.  Note that the use of  User Information by an authorized third party is subject to the respective party’s privacy policy. RightAlpha will not be responsible for the privacy practices or the contents of such Mutual Fund AMCs. We encourage You to read the privacy notices and policies of such Mutual Fund AMC partners before instructing Us to share any  User Information with them. We do not take responsibility for the terms of data usage as expressed on or through their platforms or their documentation. .

2. Independent KYC Registration Agencies (“KRAs”) Acting as Data Processors & Data Fiduciaries. As described under this Policy, We share  User Information with KRAs, responsible for carrying out independent validation of the User KYC records for verifying Your Identity Data and Contact Data, and/or to undertake activities relevant for facilitating performance of MF Product App.

3. Payment Aggregators as Data Processors. We share User Information like bank account details and other Identity Data, Contact Data and Financial Data with Payment Aggregators, responsible for processing of payment to the designated bank accounts of various AMCs selected by the User and/or to undertake activities relevant for facilitating performance of MF Product App.

 

3. With Law enforcement / Legal obligation: Under certain circumstances, RightAlpha or its group companies providing services to RightAlpha may be required to disclose Your User Information without any prior permission or intimation, if such disclosure is required to be done under applicable laws or in response to any public, regulatory, administrative, judicial, quasi-judicial, law enforcement, or other statutory authorities (e.g. a court or a law enforcement, regulatory or government agency) or to comply with a legal obligation or a legal request / notice.

 

7. SECURITY 

 

1.      RightAlpha has put in place reasonable security practices and procedures, as audited from time to time, to secure  User Information and deal with any suspected or actual  User Information breach or unauthorised access and modification and may notify You and/or any applicable regulator of a breach where We are legally or contractually required to do so. We also reasonably endeavour to ensure:

1.       the security and confidentiality of  User Information.
2.       We protect the security of  User Information during transmission by using appropriate software, which encrypts information You input. This encrypted information is stored on secure servers and data centres. Further, We ensure that the number of employees involved in the management of the data centre who have physical access to these storages and computers is limited. Also, We use advanced security technology to prevent our computers from being accessed by unauthorized persons.
3.        User Information is not accidentally lost, used or accessed in any unauthorized way, altered or disclosed by limiting access to  User Information to those employees, agents, contractors and other third parties who have a business need to know.
4.        User Information is protected from any anticipated threats, hazards by applying reasonable industry standards towards security measures which include computer safeguards, secured files and buildings. 

2.      We may suspend Your use of all or part of the MF Product App without notice if We suspect or detect any breach or threatened breach of security.

3.      the security of User Information is important to Us but remember that no method of transmission over the Internet, or method of electronic storage, is 100% secure. While We strive to use commercially acceptable means to protect User Information, We cannot guarantee its absolute security.

 

4.      We provide You the MF Product App within the Coinswitch Platform of Bitkuber. We may share certain technical or other User Information with Bitkuber solely for the purpose of keeping Coinswitch Platform, MF Product App, and the  Users / users of Coinswitch Platform and MF Product App safe and secure, and to improve the functionalities, features, and safety and security of the Coinswitch Platform and MF Product App.

 

8. HOW WE STORE USER INFORMATION.

 

1.      We take all steps reasonably necessary to ensure that Your data is stored towards rendering the MF  Product Apps, in accordance with applicable laws and disclosures under this Policy. We (a) may adequately mark or otherwise identify and physically and virtually segregate all  User Information as Company’s property from any other Company  information, and (b) may mask User Information and store it away from other  confidential information or User Information of RightAlpha. All our data is stored under respective entity servers which collect, receive, store, possess, deal, handle, process, share, use, disclose and protect User Information. All our servers are predominantly located in India. You understand and acknowledge that Our parent / holding company is situated in Singapore, and therefore, You agree that, in order for our holding company to comply with its applicable laws, We may need to share and it may need to store, process, or disclose Your User Information in its jurisdiction or with other jurisdictions as they may be obliged to. Our storage compliance process also include:

 

1.           Retention: According to RightAlpha's internal policy, We retain User Information, including transaction logs, throughout the provision of our services under the MF Product App. Additionally, We retain this information for an additional period of nine (9) years from the date of closure of Your User account. This retention period is essential to ensure compliance with our contractual, legal, and regulatory obligations including but not limited to fraud monitoring, detection and prevention activities. We also keep User Information to comply with our tax, accounting, and financial reporting obligations.

 

We acknowledge that, apart from the circumstances mentioned above, in the event of any pending legal or regulatory proceeding, specific regulatory direction, or in response to a demand by a court or statutory authority, the MF Product App may retain User Information for a duration exceeding nine (9) years. This retention will be carried out in accordance with the compliance requirements outlined in Rule 5(4) of the SPDI Rules, 2011.

 

2.           Purging: Unless preservation is required by applicable laws, We shall permanently purge any communication content (including but not limited to  User Information) obtained and stored by Us when no longer necessary for our purpose.

 

9. YOUR RIGHTS AND CHOICES

 

1.      You have rights under data protection laws in relation to Your Personal Information. Your rights   may include the right to correct and update such information, by following the process determined by Us.

 

2.      You have the right to opt-out of receiving marketing emails from RightAlpha at any time without cost by clicking on the relevant link contained in our marketing emails or by contacting Us. If You would prefer not to receive any of these communications, simply follow the unsubscribe instructions on the promotional email communications that You will receive should You wish to withdraw Your consent or object to the processing, and;

 

3.      You can also withdraw Your consent to all or any of the MF Product App at any time by writing to Us.  Once We have received notification that You have withdrawn Your consent, We will no longer process Your information for the purpose or purposes You originally agreed to, unless We have another legal basis for doing so. provided that You may no longer be able to use the  and the termination of Your User’s MF Product App Account shall be in accordance with the Terms.

 

If You wish to exercise any of Your available rights under the Applicable Laws, You may contact Us at support@mutualfunds.coinswitch.co. In particular, You may reach out to Us with questions or concerns relating to this Policy  including our processing of  User Information towards the delivery of Services.

 

a) Usage of your User Information;

b) Your any lawful/unlawful acts or omissions associated with your User Information;

c) Your violation of any terms and conditions of this Policy and or any applicable laws;

d) Your attempt to impersonate the identity of another person via the disclosure of your User Information; and

e) Your disclosure (intentionally/unintentionally) of false/incomplete User Information.

 

11. ASSIGNMENT, CHANGE OF CONTROL AND TRANSFER. In the event that We or our holding company or ultimate holding company, if any, enter into, or intend to enter into, a transaction that alters the structure of our business, such as a reorganization, merger, sale, joint venture, assignment, transfer, change of control, or other disposition of all or any portion of our business, assets or stock, We may share and/or transfer  User Information with third parties, and to the extent permitted, We may give You a written intimation  of such an event. 

 

12. UPDATES TO OUR POLICY.  We may change, modify, replace, or update this Policy from time to time. We will notify You of any material changes or additions to this Policy and may provide You with a copy of any amended Policy via. Your registered e-mail ID and/or other electronic addresses. We encourage You to review this Policy frequently to be informed of how we are protecting Your information. Your usage of our MF Product App and its services after any such change, modification, replacement, or updation shall be deemed to be Your consent of the same. 

 

13. CONTACT US FOR GRIEVANCE REDRESSAL.  Users are encouraged to discuss any changes in Your contact information or any questions/issues regarding privacy policies and related procedures directly with:

 

Name:     

To, Pankaj Kumar Jaiswal   

Designation: Grievance Officer

Contact information: support@mutualfunds.coinswitch.co

 

Cc. Gaurav Garg (Nodal Officer)

       Email: compliance@rightalpha.club

 

Re: Privacy Policy, Right Alpha Capital Private Limited