To make the lives of the clients easy and happy by mitigating
financial distress through provision of a range efficient
financial services.
Vision
To provide professional financial services to low income
clients to improve their quality of life in urban , semi
urban & rural areas, lacking access to such services from
formal financial institutions and to emerge as a financially
strong, ethical and socially inclined finance institution
in the state of Rajasthan.
Pursuant to the Notification
issued by the Reserve Bank of India by its Circular
No. DNBS (PD) CC No.80/03.10.042/2005-06 dated
28th September 2006, Dar Credit & Capital Ltd.
(referred to as the "Company") has formulated
this Fair Practices Code to lay down the following
procedures / practices in dealing with the business
transactions.
A. Applications for loans
and their processing :
»
Every borrower
has to fill up the loan application of the
company which contains all the information
of which affect the interest of the borrower,
so that borrower can do a meaningful comparison
with the terms and conditions offered by other
NBFCs and a decision may be taken by him.
»
The borrower has to submit
all the documents as required in the application
form.
»
For the recovery of the loan,
the company will not resort undue harassment
of the borrower such as using muscle power
for recovery of loan or disturbing the borrower
at odd hours.
B. Loan appraisal and terms/conditions
»
The company should
give in writing or otherwise inform the borrower
the amount of loan sanctioned, the rate of
interest along with the terms and conditions.
C. Disbursement of loans
including changes in terms and conditions :
»
The company should
give a notice to the borrower if any terms
& conditions are changed and the same will
be effected prospectively.
»
The company should release
all the securities and issue "No due Certificate"
on repayment of all dues subject to any legitimate
right or lien.
»
The borrower should be made
aware by any such legimate right or lien in
advance.
D. General :
»
The company will
not interfere in the affairs of the borrower
unless some new informations which was
not made available to the company at the time
of lending has come to the notice of the company.
»
In case of request form the
borrower for transfer of his account, the
same should be done immediately on
such request and such transfer shall be as
per the terms and conditions of the loan agreement
.
»
For the recovery of the loan,
the company will not resort undue harassment
of the borrower such as using
muscle power for recovery of loan or disturbing
the borrower at odd hours.
E. Dispute Redressal :
»
Any grievance of
the borrower must be resolved amicable at
the branch level and the same should be reported
to the Resident Director at jaipur.
»
If the grievance is not resolved,
say within 3 working days, the same must be
resolved by the Director maximum within next
7 working days.
»
The above Fair Practices Code
will be reviewed by the board from time to
time and all branch heads are required to
inform the designated director about their
views while implementing the same, so that
more pragmatic Fair practice Code and the
functioning of the grievance redressal mechanism
at the various levels of management is addressed.
»
The Fair Practices code should
also be displayed at all the branches at appropriate
place or on notice board,
so that the borrower can read the same.
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