Fair Practice Code

Introduction

The Fair Practices Code (FPC) is adopted by Rajput Leasing and Finance Ltd. to ensure fair, transparent, and ethical business conduct in offering financial services such as Gold Loans, Personal Loans, Money Transfer, and Forex Services. This Code ensures the protection of customer rights while aligning with the regulatory framework of the Reserve Bank of India (RBI).

Objectives

Promote good practices and standards in dealing with customers.

Ensure complete transparency in terms and conditions.

Ensure ethical recovery and grievance redressal mechanisms.

Build long-term customer trust and satisfaction.

Applications and Loan Processing

All loan application forms will include necessary details regarding fees, interest rates, charges, documentation, and repayment schedule.

The processing time for each loan application will be disclosed to the customer.

Customers will be provided with an acknowledgement receipt upon submission of the application.

Loan Appraisal and Terms & Conditions

After loan appraisal, a Sanction Letter/offer will be given, clearly outlining:

Sanctioned amount

Rate of interest

Repayment schedule

Other terms and conditions

A copy of the loan agreement, signed by both parties, will be shared with the borrower for their records.

Disbursement of Loans

Loans will be disbursed only after completion of all necessary documentation and formalities.

Any changes in terms or conditions (e.g., interest rate, repayment period) will be communicated in writing and will be applied prospectively.

Interest Rates and Charges

Interest rates will be:

Disclosed transparently at the time of application.

Communicated in absolute terms (not just annualized).

Updated on the website and at all branch locations.

No hidden or undisclosed charges will be levied.

Any change in interest or charges will be notified in advance.

Recovery Practices

Recovery will be handled with respect and dignity.

No use of force, threats, or abusive language will be tolerated.

Field staff shall follow courteous and lawful behavior.

In case of borrower difficulty, the Company may consider genuine rescheduling or settlement options.

Confidentiality and Privacy

Customer information will be kept confidential and used strictly for internal purposes, unless otherwise required by law or regulatory authorities.

Information will not be shared with third parties without customer consent.

Grievance Redressal Mechanism

A clearly defined Grievance Redressal System is in place.

Contact details of the Grievance Officer are displayed in all branches and on the Company website.

Complaints will be acknowledged and resolved within a stipulated timeframe.

Unresolved complaints can be escalated to the NBFC Ombudsman or RBI as per applicable norms.

Regulation and Review

The Fair Practices Code will be reviewed periodically to comply with evolving laws and regulatory updates from RBI.

Employees are regularly trained on the FPC and customer interaction ethics.

Display of Fair Practices Code

A summary of the Fair Practices Code shall be displayed at all branch offices.

The complete Fair Practices Code will also be available on the official website of Rajput Leasing and Finance Ltd.