Fair Practice Code

FAIR PRACTICE CODE

A) PREAMBLE / INTRODUCTION

The truthful apply Code (FPC) has been developed by Jayant India Nidhi Ltd (the Company) with a read to institute fairness and healthy apply of the business of the corporate and thereby making cordial relationship between the corporate and client and to foster confidence within the investment service system.

In this code, the word “customer” shall conjointly mean “share holder”/member of the corporate and vice-versa.

B) PREAMBLE / INTRODUCTION

The objectives of the FPC area unit as beneath

  • Adopt the most effective practices in dealings with customers.
  • Set difficult benchmarks and attempt to realize high in operation standards for making certain client satisfaction.Follow clear, fair, moral and lawfully well-founded practices whereas conducting business.
  • Provide all necessary data and inputs to customers / prospective customers and promote a mutualist future relationship.
  • Facilitate a incessantly growing base of happy customers whereas religiously avoiding acquisition of consumers having uncertain credentials or criminal background.
C) DECLARATIONS & COMMITMENTS

    The Company undertakes to abide by all applicable laws, rules and tips passed / issued by the Regulators and different competent authorities.
  • The Company commits itself to full client satisfaction through economical, skilled and courteous services across all its offices.
  • The Company shall systematically try to fulfill with and improve upon the internally set benchmarks and practices and be earlier than the standards prevailing within the trade.
  • The Company undertakes to not discriminate customers on grounds of faith, caste, gender or language.
  • The Company can offer clear and full info concerning its product and services to its customers / prospective customers and can not resort to any deceptive or probably misguiding advert or promotion.
  • The Company undertakes to abstain from introducing any product / services having components of ‘hidden charges’ or lack of transparency.
  • The Company can communicate within the native language with the client and in English at the request of the client
  • The Company undertakes to require all potential and affordable measures to secure the safe custody of the protection pledged by the client and to compensate the client for any accidental, accidental or deceitful loss of the protection while within the custody of the corporate.
  • The Company undertakes to not cash in of any unintentional or clerical error created by the client whereas transacting business.
  • The Company is committed to place in situ a system for promptly addressing complaints ANd suggestions of the shoppers supplemented with a structured Grievance Redressal Mechanism having an step-up matrix.
  • The Company shall show the FPC on all the places of its operation and additionally build out there to the client, on request, a duplicate of the FPC on demand.
D)3. Recovery of Dues, Exercise of Lien & Delivery of Security

  • The Company won’t, as a matter of honest dealing, unremarkably recall the loan before the at first united tenure except in unforeseen or abnormal circumstances wherever the Company’s interests area unit adversely affected e.g. once the protection worth diminishes well, once the standard of security isn’t found to be acceptable, thanks to any restrictive / government directives, etc. all told such cases correct and cheap notice shall incline to the client recalling the loan before end of the conventional tenure.
  • The Company can create all doable soft or persuasive efforts to induce the client to repay the dues while not resorting to disposal of the protection. the corporate doesn’t settle for nor can it encourage the utilization of any powerful or laborious measures to recover its dues from the client.
  • The Company can deliver the protection to the client at once upon settlement of the loan within the same condition as was at the time of sanction of the loan. just in case of any harm caused to the protection thanks to mishandling by its workers, the corporate shall at its value get the harm repaired or alternately pay cheap compensation to the client on a case to case basis. If the protection has signs of harm on that, before being taken custody of by the corporate at the time of sanction of loan, the very fact is in brief incorporated within the sanction letter.
  • The Company can exercise solely the legitimate right of lien over the pledged security or such money surplus as might arise upon settlement of existing loans at any time. Such right of lien shall arise as long as the client has the other dues, either directly or as a supporter, and can be subject to the correct intimation of such right of lien being given to the client by the corporate.
  • The Company shall issue a signed and, normally, a system generated a receipt for all money payments created by the client at once. the corporate shall additionally settle for payments vide cheques, demand drafts, electronic transfers, etc. subject to the condition that comes of the protection are created solely when confirmation of realization.
  • Even though the loan sanction letter contains all applicable terms and conditions of the loan the corporate shall, notwithstanding, endeavor, on a best effort basis, to send pieces of advice, reminders, etc. relating to maturity date for payment of interest, principal, etc. by letter, traveler service, telephone, SMS, etc.
  • The Company shall, on demand, offer the client or his punctually approved representative with an announcement of the loan account at any time throughout the currency of the loan or at once upon closure. However, the corporate might, at its discretion, need payment of cheap process charges by the client for providing a statement of account if such demand is created thirty calendar days when the closure of the account.
  • The Company can resort to disposal of security solely as a final resort which too when adequate and correct notice is served on the client to repay the dues. Such notice is as per the terms contained within the sanction letter and additionally in compliance with applicable laws and restrictive pointers. The disposal of the protection are concerned through public auction once the client doesn’t absolutely answer the communications sent by the corporate to shut the loan account alongside interest and alternative charges.
  • Where the corporate proposes to eliminate the protection even before the conventional tenure of the loan supported the rights bestowed on the corporate vide application and loan sanction letter adequate and correct notice are served on the client before such action is initiated for recovery of dues.
  • The Company won’t interfere within the affairs of the purchasers apart from the needs mentioned within the terms & conditions of the loan or once affected to try and do therefore thanks to inadequate or false disclosures created by the recipient at the time of golf shot through the transactions
C) DECLARATIONS & COMMITMENTS

    The Company undertakes to abide by all applicable laws, rules, and tips passed/issued by the Regulators and different competent authorities.
  • The Company commits itself to full client satisfaction through economical, skilled and courteous services across all its offices.
  • The Company shall systematically try to fulfill with and improve upon the internally set benchmarks and practices and be earlier than the standards prevailing within the trade.
  • The Company undertakes to not discriminate customers on grounds of faith, caste, gender or language.
  • The Company can offer clear and full info concerning its product and services to its customers / prospective customers and can not resort to any deceptive or probably misguiding advert or promotion.
  • The Company undertakes to abstain from introducing any product/services having components of ‘hidden charges’ or lack of transparency.
  • The Company can communicate within the native language with the client and in English at the request of the client
  • The Company undertakes to require all potential and affordable measures to secure the safe custody of the protection pledged by the client and to compensate the client for any accidental, accidental or deceitful loss of the protection while within the custody of the corporate.
  • The Company undertakes to not cash in of any unintentional or clerical error created by the client whereas transacting business.
  • The Company is committed to placing in situ a system for promptly addressing complaints ANd suggestions of the shoppers supplemented with a structured Grievance Redressal Mechanism having a step-up matrix.
  • The Company shall show the FPC on all the places of its operation and additionally build out there to the client, on request, a duplicate of the FPC on demand.
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