Terms and Conditions

1. Introduction & Acceptance

These Terms and Conditions ("Terms") govern your use of the Shubhkalash Bachat mobile application ("App") and associated website ("Website"), collectively referred to as the "Platform", operated by Shubhkalash Jewellers ("we", "us", or "our"), a proprietorship firm located at Main Road, Ward No. 15, Ambedkar Chowk, Waraseoni, Balaghat, Madhya Pradesh 481331, India.

By downloading, installing, accessing, or using the Platform, you ("User", "you", or "your") agree to be bound by these Terms. If you do not agree to these Terms, you must not use the Platform.

We reserve the right to modify these Terms at any time. Continued use of the Platform after such modifications constitutes your acceptance of the revised Terms.

2. Definitions

• "App" means the Shubhkalash Bachat mobile application available on the Android platform.
• "Services" means all the recurring deposit schemes, calculators, rate displays, payment processing, and related features offered through the Platform.
• "User" means any individual who registers and uses the Platform.
• "RD" or "Recurring Deposit" means a savings plan where the User makes periodic (daily or monthly) deposits over a fixed tenure.
• "Cash RD" means a recurring deposit scheme where deposits earn interest at a fixed rate, with the maturity amount paid in cash (Indian Rupees).
• "Gold RD" means a recurring deposit scheme where deposits are converted into gold grams at the prevailing daily gold rate, allowing the User to accumulate gold over time.
• "Metal Rates" means the daily gold (24K and 22K) and silver prices per gram as updated by Shubhkalash Jewellers.
• "Maturity" means the completion of the full tenure of an RD, at which point the User is eligible to redeem the accumulated amount or gold.
• "UPI" means Unified Payments Interface, the real-time payment system in India.
• "Store" means the physical premises of Shubhkalash Jewellers located at Main Road, Ward No. 15, Ambedkar Chowk, Waraseoni, Balaghat, Madhya Pradesh 481331, India.

3. About the Service

Shubhkalash Bachat is a digital recurring deposit scheme operated by Shubhkalash Jewellers, a trusted jewellery establishment in Waraseoni, Balaghat, with over 20 years of service to the community.

The Platform enables customers to:

• Open and manage recurring deposit accounts (Cash RD and Gold RD)
• Make daily or monthly deposits via UPI
• Track payment history and deposit progress
• View live gold and silver rates updated daily
• Calculate potential returns using the interactive RD calculator
• Redeem matured deposits as cash, physical gold, or jewellery

This service is designed for individuals in and around Waraseoni, Balaghat, and surrounding areas who wish to save systematically towards gold purchases or earn interest on their deposits.

4. Products & Services Offered

4.1 Cash RD (Cash Recurring Deposit)

The Cash RD scheme allows Users to make periodic deposits and earn interest on their savings. At maturity, the User receives the total deposited amount plus accrued interest in Indian Rupees.

Interest Calculation: Interest is calculated using the quarterly compounding method on a reducing balance basis. The interest rate is fixed at the time of RD creation and remains constant throughout the tenure.

4.2 Gold RD (Gold Recurring Deposit)

The Gold RD scheme allows Users to accumulate gold grams over time. Each deposit is converted into gold grams based on the prevailing 24-karat gold rate on the date the payment is confirmed by the payment gateway.

Gold Conversion Formula:

GST: A Goods and Services Tax (GST) of 3% is applicable on all Gold RD deposits. GST is deducted from the deposit amount before conversion to gold grams. For example, on a deposit of ₹1,000, GST of ₹30 is deducted, and ₹970 is converted to gold grams at the prevailing rate.

4.3 RD Calculator

The Platform provides an interactive RD calculator for Users to estimate potential returns on Cash RD deposits. Calculator results are estimates only and actual returns may vary.

4.4 Live Metal Rates

The Platform displays daily gold (24K and 22K) and silver rates per gram as set by Shubhkalash Jewellers. These rates are updated daily and are specific to Shubhkalash Jewellers. They may differ from rates published by other sources or exchanges.

5. Payment Terms

5.1 Payment Method

All payments on the Platform are made exclusively via Unified Payments Interface (UPI). Accepted UPI applications include but are not limited to:

• Google Pay (GPay)
• PhonePe
• Paytm
• BHIM UPI
• Any other UPI-enabled banking application

The Platform does not accept payments via cash (through the app), cheque, demand draft, NEFT, RTGS, or any method other than UPI within the App.

5.2 Payment Gateway

All payments on the Platform are processed through an integrated third-party payment gateway. The payment gateway handles transaction processing, UPI payment confirmation, and secure fund settlement. Shubhkalash Jewellers partners with RBI-authorized and PCI-DSS compliant payment gateway providers to ensure secure and reliable payment processing.

5.3 Payment Process

1. The User initiates a payment from within the App for their selected RD plan.
2. The App invokes the integrated payment gateway, which presents UPI payment options (QR code, UPI ID, or intent-based UPI app selection).
3. The User completes the payment through their preferred UPI app (Google Pay, PhonePe, Paytm, etc.).
4. The payment gateway processes the transaction and sends a real-time confirmation (success or failure) to the Platform.
5. Upon successful payment confirmation from the gateway, the payment is automatically credited to the User's RD account.
6. The User receives an in-app notification confirming the deposit.

5.4 Payment Confirmation & Verification

Payment confirmation is handled automatically by the payment gateway in real time. Payment status is updated in the App as:

• Processing: Payment initiated and being processed by the payment gateway.
• Successful: Payment confirmed by the gateway and credited to the User's RD account.
• Failed: Payment failed or was declined. The User's bank account is not debited, or if debited, the amount is auto-refunded by the payment gateway as per standard UPI refund timelines.

Each successful transaction generates a unique transaction reference ID issued by the payment gateway, which serves as the official record of payment. Users can view all transaction details and reference IDs in the App's payment history.

5.5 Payment Security

All payment transactions are secured through:

• PCI-DSS compliant payment gateway infrastructure
• End-to-end encrypted payment communication channels
• Tokenized transaction processing — Shubhkalash Jewellers does not store or have access to the User's bank account details, UPI PIN, or sensitive financial credentials
• Real-time fraud detection and prevention by the payment gateway

5.6 Payment Currency

All transactions on the Platform are conducted in Indian Rupees (INR / ₹) only.

5.7 Failed Transactions & Auto-Refunds

In the event of a failed transaction where the User's bank account has been debited but the payment gateway does not confirm the transaction:

• The amount will be automatically refunded to the User's bank account by the payment gateway or the User's bank.
• Auto-refunds typically take 3 to 7 business days as per RBI guidelines and standard UPI refund timelines.
• If the refund is not received within 7 business days, the User should contact us with the transaction reference ID for resolution.

6. Metal Rates

• Gold and silver rates are updated daily by Shubhkalash Jewellers and displayed on the Platform.
• The rates displayed are Shubhkalash Jewellers' rates and may differ from national/international exchange rates or rates of other jewellers.
• For Gold RD, the gold rate applied for conversion is the 24K gold rate on the date the payment is confirmed by the payment gateway.
• Rates are subject to daily market fluctuations. Past rates do not guarantee future rates.
• In the event of any discrepancy in displayed rates, the rate as determined by Shubhkalash Jewellers at the time of transaction shall be final.

7. Maturity & Redemption

7.1 Cash RD Maturity

Upon completion of the full tenure of a Cash RD:

• The User is entitled to receive the total deposited amount plus accrued interest.
• The maturity amount is calculated based on the quarterly compounding formula at the interest rate fixed at the time of RD creation.
• Payout is made via UPI transfer to the User's bank account or as cash at the Store.

7.2 Gold RD Maturity

Upon completion of the minimum tenure of a Gold RD, the User may redeem accumulated gold grams through one of the following options:

• Physical Gold / Jewellery: Collect gold or jewellery equivalent to the accumulated gold grams from the Store. Making charges and design charges may apply as per prevailing rates.
• Cash Equivalent: Receive cash payment equivalent to the value of accumulated gold grams at the prevailing gold rate on the date of redemption.
• Continue Saving: Extend the Gold RD and continue accumulating gold grams.

7.3 Maturity Process

1. The User submits a maturity/redemption request through the App.
2. The request is reviewed and processed by Shubhkalash Jewellers.
3. The User is notified when the redemption is approved and ready.
4. For physical gold: The User visits the Store to collect gold/jewellery.
5. For cash payout: The amount is transferred to the User's bank account via the payment gateway or handed over at the Store.

Maturity processing is typically completed within 7 working days of the redemption request.

8. Fulfillment & Delivery Policy

8.1 Nature of Service

Shubhkalash Bachat is a recurring deposit and gold accumulation scheme. Users make periodic financial deposits towards a savings goal. No physical goods are shipped, couriered, or delivered to the User's address at any point during the scheme.

8.2 No Shipping or Home Delivery

Shubhkalash Jewellers does not offer shipping, courier, postal delivery, or any form of home delivery for physical gold, jewellery, or cash payouts. All fulfillment is handled through in-store collection or electronic fund transfer.

8.3 Store Pickup (Physical Gold / Jewellery)

Upon maturity or approved redemption of a Gold RD, if the User chooses to redeem accumulated gold grams as physical gold or jewellery, the User must visit the Store in person to collect the same.

Store Pickup Process:

1. The User submits a redemption request through the App, selecting "Physical Gold / Jewellery" as the redemption option.
2. The request is processed by Shubhkalash Jewellers (typically within 3-5 working days).
3. The User is notified when the gold/jewellery is ready for collection.
4. The User visits the Store with valid photo identification (Aadhaar card, PAN card, or other government-issued ID).
5. The gold/jewellery is handed over to the User after identity verification and acknowledgment.

Jewellery selection is subject to availability at the Store. If the User wishes to have specific jewellery designed, additional making charges and time may apply.

8.4 Cash Payout (Electronic Transfer)

For Cash RD maturity or Gold RD cash redemption:

• Cash payouts are processed via UPI transfer to the User's registered bank account, or
• The User may collect cash directly from the Store.

Electronic transfers are processed through the payment gateway and typically completed within 5 to 7 working days of the approved redemption request.

8.5 Fulfillment Timeline

9. Cancellation & Refund Policy

9.1 Early Closure of RD

Users may request early closure (premature withdrawal) of their RD before the completion of the full tenure, subject to the following conditions:

9.2 Cash RD Early Closure

• Users may close their Cash RD at any time after a minimum of 30 days from the first deposit.
• Early closure may result in reduced interest or no interest on the deposited amount, at the discretion of Shubhkalash Jewellers.
• The refund amount (deposited principal minus applicable deductions, if any) will be processed within 7 to 14 working days of the closure request.
• Refund is processed via the payment gateway to the User's original payment source or bank account, or as cash at the Store.

9.3 Gold RD Early Closure

• Users may close their Gold RD at any time after a minimum of 30 days from the first deposit.
• Upon early closure, the User may choose:
  • Cash payout at the prevailing gold rate on the date of closure (for the accumulated gold grams), or
  • Physical gold equivalent to accumulated gold grams (collected from the Store).
• Early closure may result in reduced benefits, such as the removal of any bonus gold grams or waived making charges that were part of the plan.
• GST already deducted on previous Gold RD payments is not refundable.

9.4 Individual Payment Refund

• If a payment is made in error or duplicated, the User should contact Shubhkalash Jewellers within 48 hours with the transaction reference ID.
• Duplicate or erroneous payments will be verified against payment gateway records and refunded within 7 to 14 working days to the User's original payment source.
• Once a payment has been confirmed by the payment gateway and credited to the RD (or converted to gold grams in Gold RD), individual payment refunds are not possible without closing the entire RD.

9.5 Cancellation of RD Before First Payment

If a User creates an RD but does not make any payment, the RD may be cancelled by the User at any time without any charges. No refund is applicable as no payment was made.

10. Skipped Payments

• Users have the option to skip payments on their RD without penalty.
• Skipping a payment extends the tenure of the RD by the period of the skipped payment (e.g., skipping one monthly payment extends the tenure by one month).
• Skipped payments do not attract any penalty charges or fees.
• The User's accumulated deposits and interest/gold remain intact and unaffected by skipped payments.
• Excessive skipping (more than 50% of scheduled payments) may result in the RD being flagged for review.

11. User Responsibilities

By using the Platform, you agree to:

• Provide accurate, complete, and current information during registration and throughout your use of the Platform.
• Keep your phone number and account credentials secure and not share them with others.
• Make timely payments as per your selected RD plan.
• Not initiate fraudulent, misleading, or unauthorized transactions through the Platform.
• Not use the Platform for any illegal, fraudulent, or unauthorized purpose.
• Not attempt to gain unauthorized access to the Platform, its servers, or any related systems.
• Carry valid photo identification when visiting the Store for gold/jewellery collection.
• Notify us immediately of any unauthorized use of your account.

12. Intellectual Property

All content on the Platform, including but not limited to the App design, website design, text, graphics, logos, icons, images, the "Shubhkalash" brand name, and software, is the property of Shubhkalash Jewellers and is protected by applicable intellectual property laws.

You may not reproduce, distribute, modify, create derivative works of, publicly display, or exploit any of our content without prior written permission from Shubhkalash Jewellers.

13. Limitation of Liability

To the maximum extent permitted by applicable law:

• Shubhkalash Jewellers shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the Platform.
• We are not liable for payment failures, delays, or errors caused by the payment gateway, third-party payment service providers, UPI infrastructure, banks, or network issues.
• We are not liable for fluctuations in gold or silver rates. Metal rates are subject to market conditions beyond our control.
• We are not liable for losses due to force majeure events, including but not limited to natural disasters, government actions, wars, pandemics, or events beyond our reasonable control.
• Our total liability for any claim arising from the use of the Platform shall not exceed the total amount deposited by you in the relevant RD scheme.
• The RD calculator provides estimates only. We are not liable for any difference between calculated estimates and actual maturity amounts.

14. Dispute Resolution & Governing Law

14.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of India.

14.2 Dispute Resolution

In the event of any dispute, controversy, or claim arising out of or relating to these Terms or the Platform:

1. Amicable Resolution: The parties shall first attempt to resolve the dispute amicably through direct communication and negotiation.
2. Mediation: If the dispute is not resolved within 30 days of the initial complaint, either party may refer the matter to mediation.
3. Jurisdiction: Any legal proceedings shall be subject to the exclusive jurisdiction of the courts in Balaghat, Madhya Pradesh, India.

14.3 Grievance Redressal

For any grievances or complaints, Users may contact us at the details provided in Section 15. We aim to acknowledge complaints within 48 hours and resolve them within 15 working days.

15. Contact Information

For any questions, concerns, complaints, or requests regarding these Terms, the Platform, or our services, please contact us at:

For urgent matters, you may also visit the Store during business hours.