AS APPROVED by the BOARD of DIRECTORS in the MEETING HELD on 05Thapril2012

FAIR PRACTICE CODE-2012

AS APPROVED BY THE BOARD OF DIRECTORS IN THE MEETING HELD ON 05thAPRIL2012

The Fair Practice Code (FPC)has been formulated by PNY Sabha Finance Ltd in response to the guidelines issued by The Reserve Bank OF India vide circular DNBS.CC.PD.NO.266/03.10.01/2011-12 dated 26thMarch 2012 and has been posted in the company’s website replacing the existing code.

OBJECTIVES

The main objectives of FPC is to maintain a good customer relations .Adopt best practices in dealing with customers and provide transparent and best information’s to customers and keep a long term relations and also make a proper judgment of customers having doubtful or criminal backgrounds..The company will provide clear and full information’s about its products and services to its customers and will not mislead them by any advertisement or publicity. The company will communicate in the local or vernacular language as understood by the customer and also in English at the request of the customer. The company undertakes all reasonable and possible measures to secure the safe custody of the security pledged under various branches.

LOAN APPRAISAL TERMS AND CONDITIONS.

The company will make available the loan application forms in the local language

All relevant information such as eligible loan amount, interest, processing fee etc. are disclosed

The pawn ticket will be issued to the customer with detailed description of all the terms.

The company will devise a system for giving acknowledgement of receipt of all loan applications.

The company will furnish a copy of loan agreement preferably in the vernacular language

The company will be also informed timely regarding the time to time Changes in loan schemes.

The company will not, as a matter of fair dealing, normally recall the loan before the initially agrees tenure except in unanticipated circumstances where company’s interest are adversely affected.

The company ensures that the staffs are adequately trained to deal with the customers in an appropriate manner.

The company will resort to disposal of security only as a last resort and that too after adequate and proper notice.

Grievance Redressal.

The company will put in place an effective customer grievance redressal mechanism and will be displayed in all branches. The effective rate of interest charged and the grievance redressal system set up by the NBFC will be prominently displayed in the local or vernacular language. The KYC guidelines of RBI will be complied with while lending against collateral of gold jewellery. The jewellery accepted as collateral will be appropriately insured and the auctions procedures of defaulters are disclosed in the loan agreement. The board of directors will make an appropriable mechanism to resolve the disputes on all regards. The company constituted a Grievances Redressal Committee under the leadership of the Managing Director. All the grievances may be registered through e-mail or over phone

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