Terms of engagement on ONDC (credit)

Buyer app terms (BAP_TERMS) for ONDC:FIS12 · Finsamudra Private Limited · version 2026-10-26

1. Who we are

Finsa is operated by Finsamudra Private Limited ("Finsa", "we"). On the ONDC network Finsa is a buyer application acting as a loan service provider (LSP). Finsa is not a lender, does not lend, and does not take deposits.

2. Terms with lenders (seller apps)

For every credit transaction on ONDC, Finsa adopts the ONDC Static terms of the transaction level contract, credit, version 1.1 (20 August 2024) as the business partnership terms between Finsa and the lender's seller app, together with the terms exchanged in the ONDC protocol for that transaction. Where a lender and Finsa have signed a separate agreement, that agreement prevails to the extent it differs. We will not agree to any term that conflicts with the Reserve Bank of India's Digital Lending Directions, 2025.

3. What Finsa commits to

• Show every loan offer received for a borrower, without bias, sorted by annual percentage rate, with each lender's Key Facts Statement as provided.
• Share a borrower's details only with the lenders that borrower has chosen, and only after recorded consent. Consent records and transaction logs are kept in an auditable form and provided to the lender, RBI or their authorised persons on request.
• Never negotiate loan terms on a lender's behalf, and never make promises about a lender's product beyond what the lender provides.
• Show repayment status to the borrower as the lender reports it.
• Pass every borrower complaint about a loan to the lender through the ONDC grievance process, and help the borrower until it is resolved.
• Keep borrower data confidential, store it in India, keep it separate per lender, and delete it when no longer needed.
• Report suspected fraud to the lender within two days of learning of it.
• Charge borrowers nothing.

4. Offline contract

OFFLINE_CONTRACT = true: a signed agreement between Finsa and a lender, where one exists, forms part of these terms.

5. Contact

See grievance redressal for Finsa's grievance officer.