NABARD FINANCIAL SERVICES LIMITED, BANGALORE

FAIR PRACTICES CODE

Intent and Content

This Code has been drafted by NABARD Financial Services Limited (NABFINS) as per the Guidelines issued by the Reserve Bank of India on Fair Practices Code for Non-Banking Finance Companies vide its Circular No.RBI / 2011-12 / 470 / DNBS.CC.PD. No.266 / 03.10.01 / 2011-12 dated March 26, 2012. This Code sets minimum Fair Practice standards for the NABFINS to follow when it is dealing with the customer. It provides information to customers and explains how the NABFINS is expected to deal with the customers on day-to-day basis. This Code will come into force from the date of approval and adoption by the Board for implementation by NABFINS.

I.   Objectives of the Code

The Code has been developed with an object to:

  • Promote good, fair and transparent business practices by setting minimum standards in dealing with the customer which NABFINS shall follow;
  • Increase transparency so that the customer can have a better understanding of what type of service level can be expected from the NABFINS;
  • NABFINS will interact with the customers in such manner so as to promote cordial relationship;
  • NABFINS shall endeavor to achieve, through fair means, higher operating standards: and
  • Foster customer confidence in NABFINS in the financing undertaken.

II.   Application of the Code

The Code applies to all products, offered by the NABFINS as envisaged in its Memorandum of Association.