ICICI says that they access the personal information of the users, which includes confidential information of the customers as well. Such information is accessed by ICICI when the users visit their website, mobile apps, or any online application forms and questionnaires. 

ICICI bank mentions that they cannot be held liable for any disclosure regarding the personal information of the user, which is in adherence to the privacy commitment or agreements made between the user and ICICI bank.

What are the safeguards adopted by ICICI Bank for ensuring the safety of the user?

•  Encryption: ICICI Bank uses 128-bit encryption, for transmitting the information collected from the user. It uses the maximum level of encryption permitted in India. If the information which is provided by the users is not transmitted through this encryption then the system used by the user will display a message which will ensure that the best level of secrecy is provided to the information of the user by the Bank.

• By choosing the passwords carefully: the user cooperates with the ICICI bank to ensure the security of their information, by choosing the correct password. This is done to avoid access by a third party. The bank suggests that in order to make the password complex and difficult to guess the user should use a combination of alphabets, numbers, and special characters such as   ! @, #, $, etc.  The ICICI bank asks the users to not share the password with any third party. 

Can ICICI Bank share or disclose users’ information with any third party?

ICICI Bank says that they do not disclose any information collected from the user with any person. There are cases when such sharing of information becomes necessary:

• In Compliance with the legal process and adhering to the legal requirements.
• For protecting and defending the rights of ICICI bank and its interests, property, or affiliates.
• To enforce the terms and conditions of the service of the bank.
• In action to protect the interests of the ICICI bank along with its members, affiliates, constituents, and other persons.

Can the user disclose any information relating to ICICI bank to any other person? 

The ICICI bank says that the users should not disclose any information relating to the ICICI Bank or its affiliates with any other person in any manner in the course of availing the services provided by the bank. This information is confidential in nature. Such an action of disclosing the information in a case seems to result in a breach of terms and services of ICICI bank. Hence, terminating the services of the user.

What information is collected and used by the ICICI bank?

ICICI bank collects basic information from the user which is required to know the user.

To whom does the ICICI bank share the information collected from the user?

This information collected by the ICICI bank is used and shared with its affiliates and some selected and trusted third parties who are subject to confidentiality obligations. Such information is shared with them so that the ICICI bank can provide better services to the user such as assisting with the problems arising out of services etc.

Some of the third parties with whom the ICICI bank share the information of the user are:

• Agents of the bank.
• Contractors of ICICI bank.
• Sub-contractors of the ICICI bank.

*but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from ICICI Bank only for these purposes.

•  ICICI bank may share users’ contact details with their trusted third-party partners. These partners are subject to appropriate confidentiality obligations.

Are the activities of the users traced by the ICICI bank website, while users access their services?

The bank website uses google analytics provided by Google, which is a web analytics service. Google Analytics uses cookies, they are some text files that contain small amounts of information that is downloaded to the device of the user when they visit the website of ICICI bank. The information collected by the user is such as how often the user did visit the pages.

Users can disable these cookies by changing their web browser settings. ICICI Bank is not responsible for cookies placed in the device of the user by any other website.

Does the user authorize ICICI bank to disclose their information with third parties?

The user authorizes ICICI Bank to exchange, share, and part with all information related to the details and transaction history of the user to it’s:

• Affiliates,
• Banks,
• Financial institutions,
• Credit bureaus,
• Agencies,

Or as required by law, customary practice, credit reporting, statistical analysis and credit scoring, verification, or risk management.

The user cannot hold ICICI Bank liable for the use or disclosure of such information.

REFERENCES

Privacy commitment, ICICI BANK ( Dec. 05, 2020, 09:30 AM), Privacy Commitment | ICICI Bank