Fair Practice Code

FAIR PRACTICE CODE

PREAMBLE / INTRODUCTION
  • The Fair Practice Code (FPC) has been formulated by Kadanthottu finance Pvt. Ltd.( the Company) in response to guidelines issued by Reserve Bank of India vide circular DNBS.CC.PD.No.266 / 03.10.01 / 2011-12 dated 26 March 2012 titled “Guidelines on Fair Practices Code for NBFCs” replacing the existing code posted on the Company’s website.

    The FPC will be applicable to all the offices of the Company including the Head Office, Changanacherry, Kottayam, Kerala and the Branches located across Kerala. The FPC shall be binding on all the employees and officers of the Company
    • OBJECTIVES
  • The objectives of the FPC are as under.

    1.Adopt the best practices in dealings with customers.
    2.Set challenging benchmarks and strive to achieve high operating standards for ensuring customer satisfaction.
    3.Follow transparent, fair, ethical and legally tenable practices while conducting business.
    4.Provide all necessary information and inputs to customers / prospective customers and promote a mutually beneficial long-term relationship.
    5.Facilitate a continuously growing base of satisfied customers while scrupulously avoiding acquisition of customers having doubtful credentials or criminal background
    • DECLARATIONS & COMMITMENTS
  • 1.The Company undertakes to abide by all applicable laws, regulations and guidelines passed / issued by the Regulators (Reserve Bank of India, SEBI, IRDA etc.) and other competent authorities such as Government, Local Authority etc.
    2.The Company commits itself to full customer satisfaction through efficient, professional and courteous services across all its offices.
    3.The Company shall consistently strive to meet with and improve upon the internally set benchmarks and practices and be ahead of the standards prevalent in the industry.
    4.The Company undertakes not discriminate customers on grounds of religion, caste, gender or language.
    5.The Company will provide clear and full information about its products and services to its customers / prospective customers and will not resort to any misleading or potentially misguiding advertisement or publicity.
    6.The Company undertakes to desist from introducing any products / services having elements of ‘hidden charges’ or lack of transparency.
    7.The Company will communicate in the local language with the customer and in English at the request of the customer
    8.The Company undertakes to take all possible and reasonable measures to secure the safe custody of the security pledged by the customer and to compensate the customer for any accidental, inadvertent or fraudulent loss of the security whilst in the custody of the Company.
    9.The Company undertakes not to take advantage of any unintentional or clerical error made by the customer while transacting business.
    10.The Company is committed to put in place a system for promptly addressing complaints and suggestions of the customers supplemented with a structured Grievance Redressal Mechanism having an escalation matrix.
    11.The Company shall display the FPC on its website and also make available to the Customer, on request, a copy of the FPC on demand.