About us Home Code of Conduct Bank Guidelines Contacts

 

ABOUT US
CODE OF CONDUCT
PARTICULAR OF ENTITY
FOREIGN SHAREHOLDINGS
RESERVE BANK GUIDELINES
CONTACT PERSON FOR SHAREHOLDING GRIEVANCES
FINANCIAL RESULTS
SEGMENTWISE REVENUE & RESULTS
DISTRIBUTION OF SHAREHOLDING
COMPLIANCE WITH CORPORATE GOVERNANCE
DETAILS AGREEMENT WITH MEDIA
FINANCIAL INFORMATION
NOTICE
THIRTIETH AGM
VIGIL MECHANISM POLICY
INDEPENDENT DIRECTORS
RESULTS OF E-VOTING
FAMILIARISATION PROGRAMME
SEBI PROHIBITION OF INSIDER TRADING REGULATIONS, 2015
REMUNERATION POLICY
POLICY ON RELATED PARTY TRANSACTIONS
THIRTY-FIRST AGM
RESULTS OF REMOTE E-VOTING
Policy under SEBI Listing Obligations
APPOINTMENT OF COMPANY SECRETARY
SEBI (SAST) REGULATIONS, 2011
OUTCOME OF BOARD MEETING
THIRTY-SECOND AGM
THIRTY_THIRD_AGM
POSTAL BALLOT RESULTS
Director
CONTACT US

 

 

RESERVE BANK GUIDELINES

Reserve Bank of India's Guidelines on Fair Practices Code for Non-Banking Financial Companies (notification No. DNBS(PD)CC NO.80/03.10.042/ 2005-06 dated 28.09.06)

1

 

 

 

 

a]

 

b]

 (i)

 

 

 

 

 

 

 

 

 

 

 

    (ii)

Loan Application Form should contain the following information:

In case of failure and/or negligence to pay the installment on time, penal interest upto 2% per month may be levied by the Company.

The following documents are required to be submitted with the application for loan.

PROOF OF IDENTITY

# In case of individual, any one of the following documents may be furnished.

# Xerox copy of PAN Card issued by the Income Tax Department.

# Xerox copy of Passport issued by the Regional Passport Authority.

# Any other photo identity card issued by the Government authority mentioning

   the address.

In case of Corporate body, xerox copy of the following three documents should be furnished.

# Certificate of Incorporation.

# Certificate of Commencement of Business.

# Trade License.

Duly attested xerox of latest Income Tax Return and for Corporate Bodies 3 years audited Balance Sheet, along with proof of filing the documents with the Registrar of Companies and Income Tax Authorities.

 

2

 

 

All Loan Applications will be acknowledged by the Company.

3

 

 

LOAN APPRAISAL AND TERMS/CONDITIONS

Promptly on receipt of the loan application duly filled in along with the required documents, the disbursing authority in the company will appraise the proposal.

The loan application should be approved or rejected after appraisal by the disbursing authority and the decision will be communicated in writing containing the following information to the applicant within a fortnight of making the application:

a) Terms and Condition of Sanction.

b) Annualised rate of interest and method of calculation.

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DISBURSEMENT OF LOANS INCLUDING CHARGES IN TERMS AND CONDITIONS

Loan will be disbursed within a week of sanction on fulfillment of company’s requirement. The terms and conditions on which the disbursement is made including the disbursement schedule will remain valid till the loan is repaid by the borrower in full. In case it is intended to change the disbursement schedule, that should be done by mutual consent and the same rule will apply in the matter of interest rate, service charge, repayment charges etc. In case of any changes, the same will be applicable only prospectively. This will be incorporated in the loan agreement.

The Loan Agreement should consist of the condition under which the company will recall the loan or insist on acceleration of payment or performance under the agreement.

The security will be released by the Company on repayment of all dues or on realisation of the outstanding amount of loan. However, this is subject to legitimate right of lien for any other claim, that the company may have against the borrower. The borrower will be issued notice of such set off and the claim of the company remaining thereafter. The company will also intimate the borrower the conditions under which the company is entitled to retain the security till the relevant claim is settled / paid.

 

5

 

 

 

 

 

 

 

(a)

 

 

 

(b)

 

 

 

 

(c)

 

 

(d)

GENERAL

 

The company would refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the Loan Agreement or any modifications thereto as may be mutually agreed upon.

 

In case of receipt of request from the borrower for transfer of account, the matter will be discussed and decision in this connection will be taken by the disbursing authority authorised by the Board of Directors which will be communicated to the borrower within 21 days from the date of receipt of the request.

The Company will resort to only legal means for recovery of a loan.

In case the borrower has any grievance, the disbursing authority should settle the same by negotiation. If need be, the matter may be referred to the Managing Director and/or Director-in-Charge for disposal.

 

The Board of Directors will review the prescribed Fair Practices Code at least once in six months.

 


 

   
 
Copyright ©DABRIWALA BANIJYA UDYOG LIMITED. All rights reserved.