4.5.1 Whenever we give loans, we will explain to customer the repayment process by way of amount, tenure and periodicity of repayment. However if customer does not adhere to repayment schedule, a defined process in accordance with the laws of the land will be followed for recovery of dues. The process will involve reminding customer by sending notices or by making personal visits and/ or possession of security if any.
4.5.2 Our collection policy is built on courtesy, fair treatment and persuasion. We believe in fostering customer confidence and long-term relationship. Our staff or any person authorized to represent us in collection of dues or / and security repossession will identify himself / herself and display the authority letter issued by us and upon request display to customer his/ her identity card issued by us or under our authority. We will provide customer with all the information regarding dues and will endeavor to give sufficient notice for payment of dues.
4.5.3 All the members of the staff or any person authorized to represent us in collection or/ and security repossession would follow the guidelines set out below:
- Customers would be contacted ordinarily at the place of their choice and in the absence of any specified place, at the place of their residence and if unavailable, at the place of business/occupation.
- Identity and authority to represent would be made known to Customers at the first instance.
- Customer's privacy would be respected.
- Professional and formal language will be used in all interactions with the customers.
- Decency and decorum to be maintained during visits to customers' place.
- Normally, our representatives will contact Customers between 0700 hours and 1900 hours, unless the special circumstances of your business or occupation demands otherwise.
- Requests to avoid calls at a particular time or at a particular place would be honoured as far as possible.
- We will document the efforts made for recovery of dues and the copies of communications sent to you would be kept on record.
- All assistance would be given to resolve disputes or differences regarding dues in a mutually acceptable and in an orderly manner.
- Inappropriate occasions such as bereavement in the family or such other calamitous occasions would be avoided for making calls/visits to collect dues.