RBI has issued directives for Non-Banking Financial Companies (NBFCs) vide circular - DNBS (PD) CC No. 80 / 03.10.042 / 2005-06, dated September 28, 2006, detailing standards for fair business and corporate practices while dealing with their customers (as modified, amended and updated from time to time, the "FPC"). Revised Guidelines issued by RBI vide circular DNBS.CC.PD.No. 266 / 03.10.01 / 2011-12 dated 26th March 2012 & DNBS.CC.PD.No. 320/03.10.01/2012-13 dated February 18, 2013 have been incorporated.
Any grievance of the borrower must be resolved amicable at the branch level and the same should be reported to the Resident Director at Jaipur.
If the grievance is not resolved, say within 3 working days, the same must be resolved by the Director maximum within next 7 working days.
The above Fair Practices Code will be reviewed by the board from time to time and all branch heads are required to inform the designated director about their views while implementing the same, so that more pragmatic Fair practice Code and the functioning of the grievance redressal mechanism at the various levels of management is addressed.
Each Branch Head shall act as a Grievance Redressal Officer who can be approached by the public for resolution of complaints against the Company
All branches / places where business of the Company is transacted, a notice will display the following information prominently, for the benefit of their customers:
Name of Grievance Redressal Officer
Dar Credit & Capital Ltd
Principal Place of Business
If the complaint / dispute is not redressed within a period of one month, the customer may appeal to the Officer-in-Charge of the Kolkata Office of DNBS, Reserve Bank of India,15, Nethaji Subhas Road, Kolkata-700 001.
The Fair Practices Code based on the guidelines outlined on RBI Website shall be incorporated with the approval of our Boards within one month from the date of issue of the circular.The Fair Practices code shall also be displayed at all the branches at appropriate place or on notice board, so that the borrower can read the same. The same shall be put up on our web-site(www.darcredit.com), for the information of various stakeholders.