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FAIR PRACTICES CODE AND GUIDELINES
ATD Financial Services Private Limited (“Company”) – Fair Practices Code Policy (“Code”) The guidelines issued by the RBI on Fair Practice Code for Non-Banking Financial Companies (NBFCs) vide RBI circular RBI/2015-16/16 DNBR (PD) CC.No.054/03.10.119/2015-16 dated July 1, 2015.
This Code is aimed to provide to all the stake holders, including but not limited to the Company’s customers, an effective overview of the practices followed, in respect of the services offered by the Company.
- To implement and promote industry standard practices in dealing with customers;
- To promote a fair relationship between the customer and the Company;
- To ensure compliance with applicable laws and regulations in matters relating to recovery of loan amount;
- To create and maintain adequate mechanisms for redressal of customer grievances;
- The Company shall provide the borrower the information, required in relation to the services, so that the borrower can make a meaningful comparison with the terms and conditions offered by other NBFCs and make an informed decision.
- The Company shall give an acknowledgement of receipt for all loan applications. The Company shall endeavour to provide the time frame within which loan applications shall be processed.
- The loan application form shall indicate the documents required to be submitted along with the application form.
- If any additional details/ documents are required, the same shall be reasonably intimated to the borrowers.
Loan Appraisal and Terms & Conditions
- The Company shall convey in writing to the customer, by means of a sanction letter or any other document, the amount of loan sanctioned along with the terms and conditions including applicable rate of interest and shall maintain, in its record, the acceptance of these terms and conditions by the customer.
- Company shall mention the charges and penal interest charged for late repayment or prepayment in bold in the loan agreement to be executed between the customer and the Company.
- Upon the execution of the loan agreement, the Company shall furnish a copy of the loan agreement along with a copy of all annexures attached to the loan agreement, to the customer.
Disbursement of loans including changes in terms and conditions:
- The Company shall give notice in English, for any change in the terms and conditions – including disbursement schedule, interest rates, service charges, prepayment charges etc. In case the customer has given a declaration in the vernacular language that he/she does not understand English, he/she will be communicated to in the vernacular language.
- The Company shall, in the loan agreement to be executed between the Company and the customer, ensure that changes in interest rates and charges are effected only prospectively.
- Any decision to recall/accelerate payment or performance under the loan agreement shall be inconsonance with the respective loan agreement.
- The Company shall, subject to the respective loan agreement, release all securities pertaining to the loan on receipt of full and final payment of the loan amount, other than any legitimate right or lien, and set-off for any other claim that the Company may have against the customer. If such right of set-off is to be exercised, the borrower shall be given notice about the same, with full particulars about the remaining claims and the conditions under which the Company is entitled to retain the securities until the relevant claim is settled / paid.
- The Company has laid down appropriate internal principles and procedures in determining interest rates and processing and other charges.
- The Company would adopt an interest rate model taking into account relevant factors such as, cost of funds, margin and risk premium, and determine the rate of interest to be charged for loans and advances.
- The rates of interest and the approach for gradation of risks shall also be made available on the Company’s website. The information published in the website or otherwise published should be updated whenever there is a change in the rates of interest.
- The rate of interest should be an annualised rate so that the customer is aware of the rates that would be charged to the account.
Grievance Redressal Mechanism:
AREA OF APPLICATION
This guideline applies to all the employees working for ATD Financial Services Pvt Ltd (“Company”).
The Grievance Redressal Mechanism Policy has been drafted as per Directions issued by Reserve Bank of India (RBI) on Fair Practices Code for Non-Banking Financial Companies (NBFCs)
Customer service is extremely important for sustained business growth and as an organization we strive to ensure that our customers receive exemplary service across different touch points. Customer complaints constitute an important voice of customer, and this policy details complaint handling through a structured grievance redressal framework. Complaint redressal is supported by a review mechanism, to minimize the recurrence of similar issues in future.
The Grievance Redressal policy follows the following principles:
- Customers are treated fairly at all times.
- Complaints raised by customers are dealt with courtesy and in a timely manner.
- Customers are informed of avenues to escalate their complaints within the organization, and their rights if they are not satisfied with the resolution of their complaints.
- The employees work in good faith and without prejudice, towards the interests of the customers.
The following terms are used in this policy with the meaning specified herein:
- “ATD Financial Services Pvt. Ltd.” shall mean the Company.
- “Board” shall mean the Board of Directors of the Company from time to time.
- “Customers”, means all Business entities, Body Corporate, Individuals and other financial intermediaries, who may avail financial and other facilities from the Company, as per the policies of the Company.
- “Grievances” shall mean complaint, resentment, dispute, disagreement etc. arising out of the practices, procedures and codes, followed by the Company in its customer dealings.
GRIEVANCE REDRESSAL MECHANISM
At ATD Financial Services Pvt. Ltd. customer Delight is our priority and we are committed to provide our customers best in class Experience. Whilst all efforts are taken to give customers the best services to avoid any grievances the customers are intimated that they can record their grievances; if any; in person, writing or verbally.
TIME FRAME FOR RESPONSE:
- The turn-around time for responding to a complaint is as follows:
- Fraud, Legal and cases pertaining to business practices, lending decisions, credit management and recovery and the same which need retrieval of documents and exceptionally old records which TAT is of Two Weeks time.
- • For all the complaints received from the regulator, timelines as mandated by respective regulator will be adhered to. If any case needs additional time is required, the NBFC will inform the customer/regulator, requirement of additional time with expected time lines for resolution of the issue.
MECHANISM TO HANDLE CUSTOMER COMPLAINT/ GRIEVANCES
SERVICE TOUCH POINTS ARE AS INDICATED BELOW –:
- Customers who wish to provide feedback or send in their complaint may use the following channels between 10:00 a.m. to 06:30 p.m. (Monday to Saturday), except public holidays.
- Call our Customer Service Helpline on 0120-4250254
- Email us at email@example.com
- The customer can approach any of our service touch points given below in person/ through letter to register a complaint and expect a response within defined time period from complaint registration. The customer is advised to take an acknowledgement of receipt with date from the officer he/she is handing over the complaint letter.
C-316 B&C, Sector-10, Noida (UP) -201301
The Company for this purpose, has framed different levels for addressing and solving the Customer’s grievance/ queries by appointing Compliance officer, the details of which is indicated below:
Mr. Deepak Kumar Jha
ATD Financial Servives Pvt. Ltd.
C-316 B&C, Sector-10, Noida (UP) -201301
Phone: +91 120-4250254
An assurance is given to the customer that he would receive a response within 7 business days and due efforts will be taken to resolve the complaint well before that.
If the customer is not satisfied with the resolution received or if the customer does not hear from us in 30 days, then he may escalate his grievance to the regulator at the below address:
Department of Non-Banking Supervision
16/82, A-5, Mall Rd, Near Wescott School, Officers Quarters,
Civil Lines, Kanpur, Uttar Pradesh 208001
Through the Services of the company , you may apply for the Loan which is subject to the fulfilment of the eligibility criteria mentioned in the Mobile App. You understand that the Company has been appointed by LENDER to collect, authenticate, , verify and confirm the User Data, track your location, documents and details as may be required by LENDER to process your loan application for sanction of the Loan. LENDER authorizes the Company to collect and store the User Data through the Digital / Mobile application form available on the Platform. In order to avail the Services, you are required to register with the Company by logging in through your Third Party Platforms (User Account). During the Application process, you shall be required to share and upload the User Data on the Digital /Mobile Application Form. User Data shall include the personal information including but not limited to your name, e-mail address, gender, date of birth, mobile number, passwords, photograph, mobile phone information including contact numbers, SMS and browsing history, data and login-in credentials of Third Party Platforms, financial information such as bank documents, salary slips, bank statements, PAN card, bank account no., data from Credit Information Companies, data required for Know Your Customer compliances, requirement and other relevant details (Personal Information). You agree that the Personal Information shall always be accurate, correct and complete. As part of the Services, you authorize us to import your details and Personal Information dispersed over Third Party Platforms.
You understand and acknowledge that we may periodically request for updates on such Personal Information and we may receive such updated information from Third Party Platforms.
All transactions undertaken on your behalf by the Company will be on the basis of your express instructions/consent and will be strictly on a non-discretionary basis. You also authorise the Company to get your credit information report from one or more Credit Information Companies as decided by the Company from time to time.Once you verify and upload the User Data and/or other documents and details in the Mobile Application Form, the Company shall process the same. Upon the completion of the document verification by the Company, the Loan may be sanctioned by LENDER to you, subject to fitting eligibility criteria and other conditions set forth by LENDER for sanctioning the Loan. Thereafter, you are required to fill and upload the ECS/NACH mandate form/Cheque or any other document as may be required by LENDER . The Company may collect the physical documents including signatures on those documents required for sanctioning and processing the Loan. Upon the collection of documents by the Company, LENDER shall disburse the Loan subject to the terms and conditions of the Loan Agreement.
The sanctioned Loan shall be disbursed as per the mode provided in the Mobile Application Form. You are required to repay the Outstanding Amount(s) to LENDER, on the respective due date(s) mentioned in the Mobile Application Form / Loan Sanction Letter.
You understand and acknowledge that the Company reserves the right to track your location (Track) during the provision of Services, and also in the event that you stop, cease, discontinue to use or avail the Services, through deletion or uninstallation of Mobile App or otherwise, till the event that your obligations to pay the Outstanding Amount(s) to LENDER exist. Deletion, uninstallation, discontinuation of our Services, shall not release you from the responsibility, obligation and liability to repay the Outstanding Amount(s).
You understand and acknowledge that you shall be solely responsible for all the activities that occur under your User Account while availing the Services. You undertake that the Company shall not be responsible and liable for any claims, damages, disputes arising out of use or misuse of the Services. By usage of the Services, you shall be solely responsible for maintaining the confidentiality of the User Account and for all other related activities under your User Account. The Company reserves the right to accept or reject your registration for the Services without obligation of explanation.
You understand and acknowledge that, you are solely responsible for the capability of the electronic devices and the internet connection, you chose to run the Platform. The Platform’s operation or the Services on your electronic device is subject to availability of hardware, software specifications, internet connection and other features and specifications, required from time to time.
The User Data provided during the registration is stored by the Company for your convenience. You are not required to log-in to your User Account, every time, to use or access the Platform. You understand and acknowledge that by accepting these Terms, you authorize us to Track, fetch and use the User Data, including but not limited to your Personal Information, for the purpose of authentication and any updates with regards to your credentials.
You agree not to:
- use the Platform or the Services for committing fraud, embezzlement, money laundering, or for any unlawful and/or illegal purposes;
- to reproduce, duplicate, copy, sell, resell or exploit any portion of the App;
- upload, post, email, transmit or otherwise make available any content that is unlawful, harmful, threatening, abusive, harassing, torturous, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, or racially, ethnically or otherwise objectionable through the Platform;
- use the Platform to harm or injure any third party;
- impersonate any person or entity, on the Platform;
- forge headers or otherwise manipulate identifiers in order to disguise the origin of any content transmitted through the App;
- upload, post, email, transmit or otherwise make available any content that you do not have a right to make available under any law or under contractual or fiduciary relationships (such as inside information, proprietary and confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements);
- upload, post, email, transmit or otherwise make available on the Platform, any content that infringes any patent, trademark, trade secret, copyright or other proprietary rights of any party;
- upload, post, email, transmit or otherwise make available on the Platform, any unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of solicitation;
- upload, post, email, transmit or otherwise make available on the Platform, any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;
- disrupt the normal flow of or otherwise act in a manner that negatively affects other user’s ability to engage in real time exchanges;
- interfere with or disrupt the Platform or servers or networks connected to the Platform, or disobey any requirements, procedures, policies or regulations of networks connected to the Platform;
- intentionally or unintentionally violate any applicable local, state, national or international laws and any regulations having the force of law.
You acknowledge that the Company makes no representations or warranties about the material, data, and information, such as data files, text, facts and figures, computer software, code, audio files or other sounds, photographs, videos, or other images (collectively, the Content) which you may have access to as part of the Services, or through your use of the Platform. Under no circumstances, shall the Company be liable in any way for any Content, including, but not limited to any infringing Content, any errors or omissions in Content, or for any loss or damage of any kind incurred as a result of the use of any Content posted, transmitted, linked from, or otherwise accessible through or made available via the Platform. The Content on the Platform should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other instrument or financial products / schemes of the Company (including its affiliates), unless expressly covered in these Terms.
- License to use the App: In order to use the Services, you are required to download and install the App. For this purpose, you represent and warrant that you are of the age of majority as per the applicable laws to which you are subject to and are competent to understand, enter into, and comply with these Terms. The Company grants you a limited, non-exclusive, non-transferable, non-sub-licensable and revocable right to download, install and use the App. The App. is licensed and not sold to you and shall only be used as per these Terms.
- Scope of License:You may install, download, access or use the App through the Online Stores on/from mobile phones, tablets or any other electronic devices.
- Maintenance & Support: You acknowledge that while the Company may, at its sole discretion, provide maintenance and support for the App from time to time, the Company shall have no specific obligation whatsoever to furnish such services to you.
- Updates/Upgrades: We may launch new updates/upgrades for the App., you may subscribe to the same through the Online Stores. In the event, you choose not to update/upgrade the App, certain features or functionality shall not be accessible to you.
LINKS TO THIRD PARTY SITES:
The Platform may contain links to other websites owned and operated by third parties who are not related to the Platform (Linked Websites). The Linked Websites are not under the control of the Company and the Company shall not be responsible for the content of any Linked Websites or any hyperlink contained in a Linked Website and makes no representation or warranty with respect to the content of any such third party sites.
The Platform provides these links to you as a convenience only and the inclusion of any link does not imply any endorsement of the Linked Website by the Company. Your access or use of such Linked Website is entirely at your own risk. The Company shall not be a party to any transaction between you and the Linked Website. Your use of a Linked Website is subject to these terms and conditions of that respective Linked Website.
The Platform may also contain third party advertisements, if any. The display of such advertisements does not in any way imply an endorsement or recommendation by/of the relevant advertiser, its products or services. You shall independently refer to the relevant advertiser for all information regarding the advertisement and its products and/or services. The Company accepts no responsibility for any interaction between you and the relevant third party and is released from any liability arising out of or in any way connected with such interaction.
You may get access to chat rooms, blogs, feedbacks, reviews and other features (Ancillary Services) that are/may be offered from time to time on the Platform and may be operated by us or by a third party on our behalf. You shall not (nor cause any third party to) use these Ancillary Services to perform any illegal activities (including without limitation defaming, abusing, harassing, stalking, threatening, promoting racism, or otherwise violating the legal rights, such as rights of privacy, of others) or immoral activities, falsely stating or otherwise misrepresenting your affiliation with a person or entity. Additionally, the Platform may contain advice/opinions and statements of various professionals/ experts/ analysts, etc. the Company does not endorse the accuracy, reliability of any such advices/opinions/ and statements. You may rely on these, at your sole risk and cost. You shall be responsible for independently verifying and evaluating the accuracy, completeness, reliability and usefulness of any opinions, services, statements or other information provided on the Platform. All information or details provided on the Platform shall not be interpreted or relied upon as legal, accounting, tax, financial, investment or other professional advice, or as advice on specific facts or matters. The Company may, at its discretion, update, edit, alter and/or remove any information in whole or in part that may be available on the Platform and shall not be responsible or liable for any subsequent action or claim, resulting in any loss, damage and or liability. Nothing contained herein is to be construed as a recommendation to use any product or process, and the Company makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise.
You understand, acknowledge and agree that the Company is the sole owner of all rights, title and interest, including any and all intellectual property rights in the Content, Platform, Services, logos, trade names, brand names, designs and any necessary software used in connection with the Platform.
There may be proprietary logos, service marks and trademarks found on the Platform whether owned/used by the Company or otherwise. By displaying them on the Platform, the Company is not granting you any license to utilize the proprietary logos, service marks, or trademarks. Any unauthorized use of the same may violate applicable intellectual property laws.
You understand and acknowledge that the Platform is owned by the Company. Nothing under these Terms shall be deemed to be a transfer in ownership, rights, title, from the Company to you or any third party, in the Platform. You are entitled to avail the Services offered by the Company during the validity of your registration with the Company.
You agree to indemnify and hold the Company, and its subsidiaries, affiliates, officers, agents, co-branders or other partners, and employees, harmless from any claim or demand, including attorneys’ fees, made by any third party due to or arising out of (i) your violation of these Terms; (ii) your violation of any rights of other users of the Platform; (iii) your use or misuse of the Platform or the Services; (iv) your violation of applicable laws.
DISCLAIMER OF WARRANTIES:
You expressly understand and agree that:
your use of the Services and the Platform is at your sole risk. The Services and the Platform are provided on an as is and as available basis. The Company expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. any material downloaded or otherwise obtained through the access or use of the Platform, is at your own discretion and risk and that you will be solely responsible for any damage to your computer system, electronic data or loss of data that results from the download of any such material. no advice or information, whether verbal or written, obtained by you from the Company, for the Services or through the Platform shall create any warranty not expressly stated in these Terms. The Services are intended for personal, non-commercial use. You shall be solely responsible for the use, misuse, improper usage of the Services and the Platform. The Company shall not be liable for any damages accruing out of the use of the Services which have not been expressly stipulated under these Terms. the Company makes no warranty, including implied warranty, and expressly disclaims any obligation, that: (a) the Contents are and will be complete, Exhaustive, accurate or suitable to your requirements; (b) The Platform or the Services will meet your requirements or will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Platform or Services will be accurate or reliable.
The Company reserves the right to modify, change, substitute, remove, suspend or update these Terms or any information thereof at any time by posting the updated Terms on the Platform. Such changes shall be effective immediately upon such posting. Continued use of the Services or the Platform, subsequent to making the changes, shall be deemed to be your acceptance of the revised Terms.
LIMITATIONS OF LIABILITY
You expressly understand and agree that the Company, including its directors, officers, employees, representatives or the service provider, shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if the Company has been advised of the possibility of such damages), resulting from; (a) use or the inability to avail the Services (b) inability to use the Platform (c) failure or delay in providing the Services or access to the Platform (d) any performance or non-performance by the Company (e) any damages to or viruses that may infect your electronic devices or other property as the result of your access to the Platform or your downloading of any content from the Platform and (f) server failure or otherwise or in any way relating to the Services.
- The Company reserves its rights to terminate these Terms in the event:
- you breach any provision of these Terms;
- the Company is required to do so under law; or
- the Company chooses to discontinue the Services being offered or discontinue to operate the Platform;
- the license granted to use the App expires;
- of non-payment of Outstanding Amount(s).
The Company reserves its right to Track you, even when you have uninstalled the App or even after termination of these Terms, until all your obligations, including but not limited to payment of the Outstanding Amount(s) is in subsistence. Upon termination of these Terms, the rights and licenses granted to you under these Terms shall cease to exist, and you must forthwith stop using the Platform and the Services and repay the Outstanding Amount(s). Notwithstanding anything contained in these Terms or otherwise, the termination of these Terms for any reason whatsoever, shall not affect your obligations, including but not limited to repayment of the Outstanding Amount(s).
Without limiting the foregoing, under no circumstances shall the Company be held liable for any damage, loss, loss of services of Platform, due to deficiency in provision of the Services resulting directly or indirectly from acts of nature, forces, or causes beyond its reasonable control, including, without limitation, internet failures, computer equipment failures, telecommunication equipment failures, change in applicable regulations, including Reserve Bank of India regulations, or any other government regulations, floods, storms, electrical failure, civil disturbances, riots.
This Agreement shall be construed and governed by the laws of India without regard to principles of conflict of laws. Parties further agree that the courts in Noida, Uttar Pradesh, India shall have an exclusive jurisdiction over such disputes.
Please report any grievances or violations related to these Terms to the Company at firstname.lastname@example.org
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