Code of Fair Practice

Rajput Leasing and Finance Ltd. is committed to delivering financial services with fairness, transparency, and integrity. This Code of Fair Practice outlines the standards and principles the Company follows in dealing with customers, in accordance with the directives of the Reserve Bank of India (RBI).

Objectives

To ensure fair and transparent dealings with customers.

To promote responsible lending and service delivery.

To protect the rights and interests of customers.

To build long-term trust through ethical practices.

Applications for Loans and Their Processing

All loan application forms shall include essential information such as fees, charges, interest rates, documentation requirements, and repayment terms.

Customers will be informed about the processing time at the time of application.

Complete transparency will be maintained in the appraisal and sanction of loans.

Loan Appraisal and Terms/Conditions

Upon approval of the loan, a sanction letter will be issued containing details of the loan amount, rate of interest, repayment schedule, and terms and conditions.

A copy of the signed loan agreement will be provided to the customer.

Customers will be given sufficient notice before any change in terms and conditions (e.g., interest rates, service charges).

Disbursement of Loans

Disbursement shall be made only upon completion of required documentation and compliance with agreed terms.

The Company shall ensure timely credit of the loan amount to the borrower’s account.

Interest Rate and Charges

The Company shall clearly communicate the interest rate structure and all applicable charges upfront.

No hidden charges will be levied.

Any change in interest rate will be conveyed in advance, and it will only be applicable prospectively.

Recovery Practices

Recovery of dues shall be conducted in a respectful and non-coercive manner.

No abusive language, force, or harassment will be tolerated.

Borrowers facing genuine difficulties will be provided with reasonable options, including rescheduling, wherever applicable.

Confidentiality

All personal and financial information of customers shall be kept confidential and used only for authorized purposes.

Information will not be shared with third parties without customer consent, unless required by law or regulatory authorities.

Transparency in Communication

All communication (verbal or written) will be made in a language understood by the borrower.

Terms, conditions, rights, and obligations will be explained clearly before the execution of any agreement.

Customer Grievances

A dedicated Grievance Redressal Mechanism is in place for addressing customer complaints efficiently.

The contact details of the grievance officer will be prominently displayed at branches and on the Company website.

Complaints shall be resolved promptly, with escalation to higher authorities if needed.

Compliance with Laws and Guidelines

The Company strictly adheres to RBI guidelines, consumer protection laws, and fair lending practices.

Employees undergo regular training on compliance, ethical behavior, and customer interaction protocols.

This Code ensures that Rajput Leasing and Finance Ltd. operates with integrity, fairness, and a customer-centric approach at every step.