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Fair Lending Practice Code (FLPC) |
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Preamble |
The Bank declares
and undertakes |
Fair
Practices |
Information Secrecy
Financial Distress |
Grievance Redressal |
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Preamble |
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1. PREAMBLE :
Scope:
l (a)
FAIR LENDING PRACTICES CODE (FLPC for short) is a voluntary code adopted by our Bank, which aims to achieve synchronization of best practices while dealing with Customers in India. It aims to provide valuable inputs to Customers and facilitates effective interaction of customers with the Bank.
Extent:
1(b)
FLPC would be applicable in the Bank from the date it is placed in the Bank's web site or is otherwise publicised through the media.
FLPC contains eight (8) important declarations from us, the spirit of which pervades the entire FLPC provisions. |
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Important declarations : The
Bank declares and undertakes
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- To provide in a professional manner, efficient, courteous, diligent and speedy services in the matter of retail lending.
- Not to discriminate on the basis of religion, caste, sex, descent or any of them.
- To be fair and honest in advertisement and marketing of Loan Products.
- To provide customers with accurate and timely disclosure of terms, costs, rights and liabilities as regards loan transactions.
- If sought, to provide such assistance or advice to customers in contracting loans.
- To attempt in good faith to resolve any disputes or differences with customers by setting up complaint redressal cells within the organization.
- To comply with all the regulatory requirements in good faith.
- To spread general awareness about potential risks in contracting loans and encourage customers to take independent financial advice and not act only on representations from banks.
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