Corporate Governance
At Dadhich Finserv, we recognize the importance of good corporate governance. Dadhich Finserv maintained comprehensive corporate governance guidelines for years.
Introduction
RBI has drafted the guidelines on Fair Practices Code for Non Banking Finance Companies which sets the Fair Practices Standards when dealing with customers and to serve as a part of best corporate practice.
Our policy is to treat all the customers consistently and fairly. Our employees will offer assistance, encouragement and service in a fair, equitable and consistent manner. We will also communicate our Fair Practices Code to our customers by placing the same on Notice Board of the company and on the company’s website in due course after receipt of Certificate of Registration from the Reserve Bank of India.
We shall ensure that charges / fees are appropriately informed to the borrower. Terms and conditions pertaining to the loan / facility will be conveyed to the prospective borrowers. We commit that disputes arising out of the lending decisions will be appropriately resolved by a grievance redressal mechanism set up by us.
The Company’s Board of Directors and the management team is responsible for establishing practices designed to ensure that our operations reflect our strong commitment to fair lending and that all employees are aware of that commitment.
Key Comments
Applications for loans and their processing
-
Loan application forms should include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the borrower. The loan application form may indicate the documents required to be submitted with the application form. All communications to the borrower shall be in the vernacular language or a language as understood by the borrower.
-
The NBFCs should devise a system of giving acknowledgement for receipt of all loan applications. Preferably, the time frame within which loan applications will be disposed of should also be indicated in the acknowledgement
-
Loan Application form will clearly state the information that the company requires to collect from the customer to fulfil the KYC norms and to comply with legal and regulatory requirements. We may request for additional information about the customer and his/ her family to build a database; but this information is furnished by the customer only if she/ he wishes to do so.
