Legal & Policies

Privacy Policy

Last Updated: July 2026 • Valid across all branches

At Parvati Urban Credit Co-operative Society Ltd., Nagpur, we take your privacy seriously. This Privacy Policy describes how we collect, use, and protect the personal and financial information of our members and website visitors.

1. Information We Collect

We may collect personal and financial information to provide you with cooperative banking services. This includes:

Identity Information: Aadhaar number, PAN, Voter ID, or passport details for KYC compliance.
Contact Information: Residential address, phone numbers, and email addresses.
Financial Data: Income proof, credit history, bank statements, and transaction records for loan processing and deposit management.

2. How We Use Your Information

We strictly use your data for legitimate cooperative operations, including:

Processing loan applications and opening deposit accounts.
Complying with the Maharashtra Co-operative Societies Act, 1960, and RBI guidelines for KYC/AML.
Communicating updates about interest rates, account statuses, and society dividends.

3. Data Security & Sharing

Your data is securely stored within our internal systems. We do not sell your personal data to third-party marketing agencies. Data may only be shared with regulatory bodies (like auditors or the Registrar of Co-operative Societies) when legally mandated.

Terms & Conditions

Last Updated: July 2026 • Read carefully before becoming a member

1. Membership Eligibility

Membership to Parvati Urban Credit Co-operative Society Ltd. is subject to the bylaws of the society. Applicants must be of legal age, possess valid KYC documents, and operate within our authorized jurisdiction in Maharashtra.

2. Deposit & Loan Accounts

Interest Rates: Interest rates on Fixed Deposits, Recurring Deposits, and Loans are determined by the Board of Directors and are subject to change without prior public notice. Applicable rates will be clearly stated at the time of account creation.
Loan Disbursal: All loans are subject to the approval of the credit committee, satisfactory valuation of collateral (gold/property), and a clear repayment capacity assessment.
Penalties: Premature withdrawal of fixed deposits or delayed EMI payments on loans may attract penalty charges as per society bylaws.

3. Website Usage

This website provides general information about our products. While we strive to keep information accurate, we do not warrant that the content is completely error-free. The society reserves the right to modify the website content at any time.

Disclaimer

General Notice for all Website Visitors

Parvati Urban Credit Co-operative Society Ltd. is registered under the Maharashtra Co-operative Societies Act, 1960, bearing registration number NAGP/RSR/(C.R.)/ 1544/2024. We operate strictly within the framework provided for credit co-operative societies in the state of Maharashtra.

Not a Commercial Bank: We are a Co-operative Credit Society, not a commercial bank licensed under the Banking Regulation Act, 1949. The use of the word "banking" (e.g. Internet Banking) in our materials refers exclusively to internal cooperative digital services provided to registered members only.

Financial Risk: While we maintain rigorous financial discipline and audits, all deposits and share capital investments carry inherent risks associated with cooperative societies. Please read all scheme-related documents carefully before investing.

Anti-Fraud & KYC Policy

Committed to Financial Integrity

Parvati Urban Credit Co-operative Society Ltd. maintains a zero-tolerance policy towards financial fraud, money laundering, and identity theft.

Know Your Customer (KYC)

It is mandatory for all members to complete full KYC verification before opening any account or applying for a loan. Members must periodically update their KYC details as requested by the branch.

Beware of Scams

We will never ask for your Member PIN, Internet Banking Password, or OTP over a phone call, SMS, or email.
Do not click on unverified links claiming to be from Parvati Urban Credit Society.
Always verify the identity of our Daily Pigmy Deposit agents before handing over cash. Report any suspicious agent behavior immediately.

If you suspect fraudulent activity on your account, contact our Grievance Redressal Officer immediately via the Contact Us page.