1. Purpose and Scope

This Privacy Policy is issued by NK Bank ("the Bank") in accordance with the Information Technology Act, 2000, and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011. It outlines the Bank’s approach to collecting, using, storing, protecting, and sharing personal data of its customers and users who access services via our website, mobile app, or in-branch.

2. Information Collected

The Bank may collect the following categories of data:

• Personal Identifiable Information (PII): Full name, residential address, contact number, and email ID.
• Financial Information: Account numbers, transaction history, credit/debit details.
• Biometric Data: Fingerprints, facial scans (used only with explicit consent and in accordance with Aadhaar Act and UIDAI norms).
• Technical Information: IP addresses, browser type, access times, device IDs, cookies.

This data is collected through account registration forms, KYC documentation, website forms, mobile app interactions, and in-person engagements.

3. Lawful Basis for Data Collection

Personal and sensitive data is processed in compliance with:

• Section 43A of the Information Technology Act, 2000
• Rule 5 of the IT (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011

We obtain user consent wherever legally required and process data to fulfill contractual, regulatory, and statutory obligations.

4. Purpose of Data Usage

Your data is used for the following purposes:

• To create and maintain your account with the Bank
• To verify identity and comply with KYC/AML/CFT regulations
• To process transactions and provide banking services
• For customer support, grievance redressal, and communication
• To comply with RBI, SEBI, IRDAI, Income Tax Department, and other statutory bodies
• For system audits, legal defense, and fraud detection

5. Sharing and Disclosure of Information

We may disclose data under lawful circumstances to:

• Regulatory Authorities: RBI, SEBI, IRDAI, FIU-IND, etc.
• Credit Information Companies (CICs): As governed by the Credit Information Companies (Regulation) Act, 2005
• Law Enforcement Agencies: Upon valid judicial or legal request
• Third-party vendors: Who are bound by Non-Disclosure Agreements (NDAs) and Data Processing Agreements (DPAs) for outsourced operations such as IT maintenance, customer support, and cloud storage

No information is sold to third parties for marketing or any unauthorized use.

6. Data Security Measures

To ensure the security and confidentiality of user data, the Bank implements:

• SSL (Secure Socket Layer) encryption for data transmission
• Multi-factor authentication for account access
• Firewalls and Intrusion Detection Systems (IDS)
• Role-based access control for employees
• Regular security audits and penetration testing as per RBI cybersecurity directives

7. User Rights

Users have the following rights regarding their personal information:

• Right to access: View the data we hold about you (Rule 5(6), IT Rules)
• Right to rectification: Correct inaccurate or outdated information
• Right to deletion: Request deletion where permitted by law
• Right to opt-out: Unsubscribe from direct marketing communications

Requests can be submitted through written or electronic means.

8. Data Retention

The Bank retains customer data in line with:

• RBI Guidelines on customer identification and record retention
• Income Tax Act, 1961 and other applicable financial laws

Generally, data is retained for 8 years post-account closure or longer where legally required.

9. Grievance Redressal

If you have any concerns about your personal data or privacy rights, please contact:

Grievance Officer:

Email: info@nkbank.in
Phone:  +91 - 7794010114
The Neela Krishna Co-operative Urban Bank  
Address:  5-1-27 Mahalaxmi Complex, RP Road, Secunderabad City, Secunderabad - 500003 (Near Bible House)