Fair Lending Practice Code
Shivalik Small Finance Bank has adopted the following policy, in respect of handling customer complaints/grievances, in line with the Quality Policy of the Bank. With a view to ensure consistent superior service experience, the Bank shall provide a responsive, fair, expeditious and customer-centric query/ complaint management procedures to all external customers. In view of above the Bank shall:
This document provides details of the practices which need to be followed by the Bank to ensure fair and transparent dealings with its customers who approach it for obtaining a loan and for transactions with customers after the loan has been granted. This code will enable employees to provide better customer service and maintain transparency in business dealings with its customers. The basic tenets of the Code are as under:
FAIR LENDING PRACTICES CODE (FLPC for short) is a voluntary code adopted by our Bank, which aims at synchronization of best practices while dealing with Customers.
Objectives of the Code
Application of the Code
This code shall apply to all employees of the Bank and other persons authorized to represent it in the course of its business with respect to all products and services.
The Bank declares and undertakes to adhere to this code and act fairly and reasonably in all dealings, on the ethical principle of integrity and transparency, to meet the standard practices prevalent in the finance industry.
Fair Practices Product Information
Disclosure and Transparency
Bank would provide information on interest rates, common fees and charges through:
Revision in Interest Rates
Default Interest/Penal Interest
The Bank would notify clearly about the default interest/penal interest rates to the prospective customers.
Disbursement of Loan including Terms and Conditions for Lending
Post Disbursement Supervision
Collection of Dues
The Bank shall collect personal information that it believes to be relevant and required to understand the customer's profiles and conduct its business. Bank shall treat all personal information of customers as private and confidential and shall not divulge any information to a third person unless required by any law or Government authorities including Regulators or Credit agencies or where the sharing of information is permitted by the customer. If Bank shall avail services of any third party for providing support services, Bank shall require that such third parties handle customers' personal information with the same degree of confidentiality.
Shivalik Small Finance Bank Limited takes a Zero- tolerance approach to bribery and corruption and is committed to acting professionally, fairly and with integrity in all its business dealings and relationships. Bank is committed to implementing and enforcing effective systems to counter bribery and corruption.
The integrity of our Employees and associates is critical to our success.
Corruption shall include
Borrower’s action to prevent and combat fraud and corruption
Bank’s Action to Prevent and Combat Fraud and Corruption
The Borrower here by covenants with the Bank as follows:-
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