Data Retention & Deletion Policy
Statutory timeframes and technical procedures governing the retention, cryptographic archiving, and safe disposal of consumer data at CoverMantra.
Statutory Purpose & Principle
CoverMantra retains personal and financial information only for as long as strictly necessary to fulfill the lending facilitation purposes for which it was collected, or to satisfy legal, regulatory, tax, accounting, and reporting obligations under applicable Indian statutes.
Mandated Retention Schedule
Mandated under Prevention of Money Laundering Act (PMLA) and RBI Master Directions.
Preserved for statutory income tax audit and lender reconciliation.
Electronic proof of applicant consent and lending service disclosures.
Customer support interactions and grievance communications.
Preserved for cyber forensics and CERT-In compliance.
Purged immediately upon customer opt-out or account deletion.
Cryptographic Deletion & Disposal Protocol
Database records are irreversibly purged using cryptographic erase techniques. Backup archives age out naturally according to strict rollover retention windows.
When consent is revoked, automated API signals trigger deletion cascades across partnered verification gateways, subject to statutory NBFC retention rules.
Statutory Legal Exceptions
Information may be preserved beyond standard retention schedules under exceptional circumstances:
- Mandated by court orders, lawful regulatory warrants, or law enforcement agency notices.
- Ongoing dispute resolution, active litigation, or fraud investigation cases.
Request Data Erasure
To submit a formal request for data deletion or to revoke your digital consent, please contact our Data Protection Officer:
CoverMantra Services Private Limited
CIN: U46109DL2024PTC438732
PMLA and RBI Master Direction on Digital Lending guidelines.
Zero charges for processing deletion or retention requests.