Code of Conduct

INTEGRITY

  • Customers and employees of the Company will be treated fairly and with dignity
  • Customers, staff and any person acting on the behalf of the company shall be aware of the code of conduct of the company and process of its implementation.
  • Company shall provide appropriate training to its employees and person acting on behalf of the company for ensuring proper implementation of Code of conduct. Training programme shall be look up by a transparent governance system established for this purpose.

Transparency

Company shall disclose all the terms and conditions for all products/services offered to customers in official regional language or language understood by the customer, prior to disbursement, in accordance with RBI fair practices code through all possible documents.
Disclosure shall be made about:-

  • Rate of interest on reducing balance method
  • Processing fee.
  • Charges recovered for insurance coverage and insurance covered.
  • Any other charges and fees howsoever described
  • Any other disclosure if any

Customer shall be communicated in writing about charges levied for all financial services rendered and RBI guideline shall be followed with respect of interest charges and security deposit.
Customers who have submitted KYC documents are obliged to receive SMS or Calls in the interest of sharing information with them whenever needed

  • Company shall declare all interest and fees payable s an all inclusive Annual Percentage Rate and equivalent monthly rate.
  • Company shall maintain records of transaction accordance with regulatory and statutory norms.
  • In case of rejection of application for loan sanctioned, reason thereof shall be intimated to customer by the company.
  • Company shall put its Annual Report and Annual Financial Report on its website.

Client Protection, Interaction And Privacy Fair Practices

  • Company shall obtain copies of relevant document from customers as per standard KYC norms from customers. Additional document must be sought only if it is necessary and reasonable for completing the transaction.
  • Company will not sanction loan to customer if that customer has prior loans from two separate MFIs.
  • Time limit within which decision on loan application and if sanctioned, disbursement thereof shall be informed to customer by the company.

Avoiding Over-Indebtedness

  • Company shall take reasonable steps to assess the need and repayment capacity of the customer before sanctioning of any loan and loan shall be sanctioned by the company only after assurance of the customer's ability to repay.
  • Total debt limit of customer will not be breached by the company.
  • Company shall take reasonable steps to ensure that loan givens on basis of Joint Liability of Group of borrowers (JLG Loan) is restricted to Rupees Sixty Thousand (Rs 60000/-) per borrower. In case, loan to specific borrower exceeds Rs 60000/-, such a loan shall be given as individual loan and not as JLG Loan.

Appropriate Interaction and Privacy of Client Information

  • Customer's personal information will be kept confidential with the company and such disclosure will be made only after obtaining prior approval from client in writing.
  • Company shall not provide Customers information to any third party subject to the condition that party in question has been authorized by the customer to obtain the information from company. Intimation shall be given to the company regarding such authorization by the customer.
  • A valid acknowledgement receipt will be provided to customer for all payment received and payment received shall be recorded in loan passbook or loan card. All staff and person acting on behalf of company shall not use abusive language or in any manner misbehave with customer.
  • Collection shall not be made at odd hour or during inappropriate occasion such as bereavement.

Client Education

  • Company shall inform customers about its policies and procedures together with financial products and services available.
  • Company shall ensure regular checks on customer awareness and understanding on the terms and conditions of product and services offered/availed

Grievance Redressal Mechanism

Dedicated grievance redressal mechanism shall be employed to handle complaints effectively and efficiently and it shall be ensured that complaints received are treated fairly.

  • Customers shall be informed about the existence and purpose of grievance redressal mechanism and process to access them.
  • Contact details of the grievance redressal official shall be easily accessible to customers.