Application of the Code

This Fair Practices Code applies to all categories of products and services offered by the Company whether the products and services are provided across the counter, over the phone, through interactive electronic devices, on the internet, or by any other method.

Key Commitments

Applications for Loans and their Processing: Loan application forms will include necessary information, which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the borrower. The loan application form will indicate the documents required to be submitted with the application form.

Loan Appraisal and Terms/Conditions

The company will convey in writing to the borrower by means of a sanction letter or otherwise, the amounts of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record.

Disbursement of Loans Including Changes in Terms and Conditions

The Company will give notice to the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. We will also ensure that changes in interest rates and charges are effected only prospectively.

General

The company will refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement.

Complaints

In case of any complaint/grievance, the applicant/borrowers will have to inform in writing the concerned branch. The Branch Officials shall immediately take up the matter for redressal as per the policy.

All disputes in relation to the products and services shall be heard and disposed of within 30 days from the date of receipt of the complete details in respect of the grievance.

In case the borrower is not satisfied with the decision of the Grievance Redressal Officer of the Company or his compliant/dispute is not resolved within 30 days, he may approach the Officer in Charge of the Regional Office of the Reserve Bank of India.