Finvesco Capital India Limited is a Non Deposit Taking NBFC registered with the Reserve Bank of India. This document provides details of the practices which Finvesco follows to ensure fair and transparent dealings with its customers and is compliant with the RBI Circular DNBS CC No 320/03.10.001/2012-13 dated February 18, 2013. This code will enable employees to provide better customer service and maintain transparency in business dealings with its customers.
Application of the Code
This code shall apply to all employees of the company and other persons authorized to represent it in the course of its business with respect to all products and services.
Company shall adhere to this code to act fairly and reasonably in all dealings, on the ethical principle of integrity and transparency, to meet the standard practices prevalent in the finance industry.
- The Company will provide clear and transparent information to customers in the language of their preference so as to enable them to understand:
- Terms and conditions of the products and services offered Including the interest rate and service charges.
- Benefits available to customers
- Products and services of the company will meet relevant laws and regulations in both letter and in spirit.
- The Company will act quickly in correcting mistakes and attending to complaints lodged by its customers.
- The Company shall not discriminate amongst its prospective/existing customers on the basis of age, race, caste, gender, marital status, religion or disability.
- A copy of the code will be posted on the Company’s website and in a visible location at each branch office.
- A copy of the code may be provided on request to any prospective or existing customer.
(i) Application for loans and their processing
- All communication to the borrower shall be explained to the borrower in the language understood by the borrower.
- Loan application forms shall include necessary information that affects the interest of the borrower and an informed decision can be taken
- Acknowledgement for receipt of all loan applications will be given to the borrower.
- Normally, all particulars required for processing the Loan Application will be collected by the Company at the time of application. In case it needs any additional information, the customer will be informed to provide the same.
- The Company may verify the details mentioned by the customer in the loan application by contacting him/her at his/her residence and/or on business telephone numbers and/or physically visiting his/her residence and/or business addresses through agencies appointed for this purpose, if deemed necessary.
(ii) Loan appraisal and terms/conditions
- Every loan approval shall be communicated to the borrower by way of a Sanction Letter which shall include the key terms and conditions of the loan including the loan amount approved, processing fees, annualized rate of interest, tenor of the loan, penal charges, etc. Contents shall be explained to the borrower in a language understood by the borrower.
- A copy of the loan agreement shall be given to the borrower for records and the contents explained in a language understood by the borrower.