REFUND AND CANCELLATION TERMS

THESE CANCELLATION AND REFUND TERMS IS APPLICABLE TO ALL TYPE OF DIGITAL PAYMENT.

1. Payment Processing:
   Payments made through the NBFC Mangalam Industrial Finance Limited website using the payment gateway are processed securely and promptly.



Once a payment is successfully processed, it cannot be cancelled or refunded through the payment gateway directly. Refund requests must be initiated through NBFC Mangalam Industrial Finance Limited's customer support.

2. Refund Requests:
   If you believe there has been an error in payment processing or if you are eligible for a refund based on NBFC Mangalam Industrial Finance Limited's policies, please contact our customer support team at loans@miflindia.in to request a refund.



Refund requests must be made within 7 days from the date of payment.

3. Eligibility for Refunds:
   Refund eligibility for payments made through the payment gateway depends on the nature of the transaction and NBFC Mangalam Industrial Finance Limited's policies.



Refunds shall be considered only in case customer requests a refund where duplicate payments, overpayments, or payments for services/products that are cancelled or not delivered as per the terms of the agreement.

We would like to clarify in case of duplicate/overpayments customers will be eligible for refund only if the customer has never delayed the payment beyond 30 days. Also, MIFL reserve the right to adjust it against additional EMI towards customer loan account.

4. Cancellation of Transactions:
   Transactions processed through the payment gateway cannot be cancelled directly through the gateway interface once they are successfully completed.



If you need to cancel a transaction, please contact NBFC Mangalam Industrial Finance Limited's customer support for assistance. Cancellation requests are subject to review and approval based on the specific circumstances of the transaction.

5. Refund Processing Time:
   Upon approval of a refund request, NBFC Mangalam Industrial Finance Limited will initiate the refund process. Refunds will be processed using the original method of payment, such as credit/debit card or net banking, used for the transaction.



The processing time for refunds may vary depending on the payment method, financial institution policies, and the nature of the refund request. NBFC Mangalam Industrial Finance Limited will provide an estimated timeline for refund processing upon approval.

6. Communication and Documentation:
   All refund requests and communications regarding payment gateway transactions should be documented and communicated through official channels provided by NBFC Mangalam Industrial Finance Limited.



We will send you an e-mail or any other convenient mode seeking the details required to refund the amount which may include your Bank Account details such as the account number and the IFSC code of the branch in question.

Customers are encouraged to retain transaction receipts, order confirmations, and any communication related to payment processing for reference and documentation purposes.

7. MIFL assumes no responsibility and shall incur no liability if it is unable to affect any Payment Instruction(s) on the Payment Date owing to any one or more of the following circumstances:


1. If the Payment Instruction(s) issued by customer is/are incomplete, inaccurate, and invalid and delayed.
2. If the Payment Account has insufficient funds/limits to cover for the amount as mentioned in the Payment Instruction(s).
3. If the funds available in the Payment Account are under any encumbrance or charge.
4. If your Bank refuses or delays to honour the Payment Instruction(s).
5. Circumstances beyond the control of Company (including, but not limited to, fire, flood, natural disasters, bank strikes, power failure, systems failure like computer or telephone lines breakdown due to an unforeseeable cause or interference from an outside force).
6. In case the payment is not affected for any reason, you will be intimated about the failed payment by an email.
8. Changes to Policy:
   NBFC Mangalam Industrial Finance Limited reserves the right to modify or update this Payment Gateway Refund and Cancellation Policy at any time without prior notice. Any changes to the policy will be effective immediately upon posting on the website.



Customers are advised to review the policy periodically for any updates or changes.

By making payments through NBFC Mangalam Industrial Finance Limited's website using the payment gateway, you acknowledge that you have read, understood, and agreed to this Payment Gateway Refund and Cancellation Policy.