Protecting your privacy and the confidentiality of the personal information you give us has always been fundamental to the way we do business in State Bank of India (Canada). This Privacy Policy informs you about the ways we help ensure that your privacy and confidentiality of your information are protected. Our Privacy Policy is based on ten principles which are set out in our Privacy Code (attached to this Policy).

1)  What is personal information?

"Personal information" is information about you as an identifiable individual. This includes information such as your age, marital status, education, employment history, identification numbers, financial information and credit records.

2) How we collect your personal information:

When you first become an SBIC customer, apply for more products and services and do business with SBIC, we collect personal information.

We obtain most of your personal information directly from you in person, by written or electronic means. When we ask you to produce an identification document (such as a driver's licence), we will give you a choice of different kinds of documents that are acceptable: it is up to you as to which you provide. When you open an interest-bearing or investment account, we are required by the Income Tax Act (Canada) to ask for your SIN so that we can report the income from that account for tax purposes; we need your consent to use your SIN for any other purpose.

We may obtain some information from other sources with your consent. For example, we may check some of the information you give us with your employer or other references, or obtain credit rating information from credit bureaus.

3) How we use and disclose your personal information

We may use and disclose personal information about you to any person or organization for the following purposes:

•  establish your identity;

•  protect you and us from error and fraud;

•  understand your needs and eligibility for products and services;

•  recommend particular products and services to meet your needs.

•  allow affiliates and selected third party companies to promote their products and services to you such as credit or debit cards or internet banking. ( From time to time, we disclose general, non-sensitive personal information (e.g. name, address, telephone numbers, categories of goods and services reflecting your personal preferences) to affiliates and selected third party companies so that they can offer their products and services to you. We do not disclose sensitive personal information (e.g. financial or credit information) without obtaining your express consent.);

•  provide ongoing service;

•  comply with legal and regulatory requirements;

•  share information for business transactions. Customer and account information is normally a part of such business transactions, such as selling or securitizing assets. In the course of such dealings, we may use or disclose information to other parties included in the transaction; and

•  exchange information with credit bureaus. When you apply for certain products, we obtain your consent to exchange information about you with credit bureaus, as described above. To maintain the integrity of the credit reporting system, we may periodically update your information with credit bureaus as long as you have the product with us and for a period of time following repayment. Your consent to the exchange of information cannot be withdrawn during this time.

4) Ways you can give your consent and Online Privacy

Your express consent may be given in writing, verbally at our premises or through electronic means. Your consent may be implied through an action you have taken or when you continue to use a product or service after we have notified you of a change.

The SBIC website may contain links to other websites that are not operated by SBIC or that not governed by this Privacy Policy. This Privacy Policy does not apply when you leave the SBIC web site and go to any other website. You should read the privacy policies of those third party websites before using the site.

5) Exceptions to obtaining your consent to collect, use or disclose personal information:

There are a few exceptions where we may collect, use or disclose information without consent, including:

•  Use of an outside service provider to do work for us. We may need to communicate some of your information to a provider on a confidential basis.

•  Requirement by law. We may be required to release information to a court or other legal or regulatory authority.

•  Protection of our interests . Sometimes we may have to collect, use or release information without consent for its protection, for example, to verify your identity with a third party financial institution from which funds are due.

6)  Ways you can withdraw your consent

Subject to regulatory or contractual requirements, you may withdraw your consent at any time.

To withdraw your consent:

•  write to us at 200 Bay St, Suite 1600, Royal Bank Plaza North, Toronto, ON M5J 2J2

•  talk to our representatives at any of our branches

•  secure mail through Internet Banking facility

•  e-mail us at sbican@sbicanada.com

Generally, the withdrawal of your consent will not affect your eligibility for SBIC product and service offerings. In the event that we are not be able to provide you with a particular product or service because you do not give or decided to withdraw your consent, we will advise you of the consequences of your choice.

If you have consented to our telling you about products and services through direct mail, telephone or other means, and you later withdraw that consent, we may still send you, with your account statement, information which is required for regulatory purposes or which is related to the products or services you are receiving.

You may opt out by refusing or withdrawing your consent to our sharing of marketing lists with affiliates and selected third party companies, by calling the toll-free number and writing to us, as described above.

If you change or withdraw your consent, we will update our files as quickly as possible in the context of regular business operations.

7) Our Privacy Code

Our ongoing commitment to respect and protect the privacy and confidentiality of client's personal information is based on the ten principles described in detail in our Privacy Code. This Code applies to the operations of SBIC regardless of how you choose to do business with us.

 8) If you have a concern or complaint

•  Talk to your SBIC representative

In most cases, a complaint or concern is resolved by talking to us about it. You should be able to get quick results by talking to our representatives where you do business with us. You can speak with us in your local branch or by calling 1-800-668-8947 (Toronto) or 1-800-667-2868 (Vancouver).

•  Contact the SBIC Compliance Officer

If the problem is not resolved to your satisfaction, you can contact the SBIC Compliance Officer :

•  If you are still not satisfied, you may write to the Ombudsman for Banking Services and Investments for a further independent review at the following address:

•  If the above steps fail to resolve your concern you may also contact the Office of the Privacy Commissioner of Canada:

PRIVACY CODE OF STATE BANK OF INDIA (CANADA)

Principle 1 - Accountability

SBIC is responsible for all personal information under its control and its Officers are accountable for SBIC's compliance with the principles described in this Privacy Code.

Principle 2 - Identifying the Purposes for Collecting Personal Information

The purposes for which personal information is collected will be identified and documented by SBIC at or before the time the information is collected.

Principle 3 - Consent

An individual's knowledge and consent (express or implied) are required for the collection, use or disclosure of personal information by SBIC, except as otherwise required or permitted by law.

Principle 4 - Limits to the Collection of Personal Information

SBIC will limit the amount and type of personal information collected to that which is necessary for its purposes. Personal information will be collected by fair and lawful means.

Principle 5 - Limits to the Use, Disclosure and Retention of Personal Information

SBIC will not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual or as required or permitted by law. Personal information will be retained only as long as necessary for the fulfillment of those purposes, except as otherwise required by law.

Principle 6 - Accuracy

SBIC will keep personal information as accurate, complete, and up-to-date as necessary for its purposes. SBIC will minimize the possibility of inappropriate information being considered in its decision making process.

Principle 7 - Safety and Security

SBIC will protect personal information with safeguards appropriate to the sensitivity of the information.

Principle 8 - Openness

SBIC will be open about its policies and procedures regarding management of personal information. SBIC will ensure that individuals are reasonably able to acquire information about SBIC's policies and procedures and will make this information available in a form that is generally understandable.

Principle 9 - Individual Access 

Upon request in writing, SBIC will inform an individual of the existence, use, and disclosure of his or her personal information and will provide access to that information, except where the law requires or permits SBIC to deny access.

Principle 10 - Handling Inquiries and Challenges

An individual will be able to direct a challenge concerning compliance with the above principles to SBIC's Compliance Officer.