Pursuant to RBI vide Circular DNBS.CC.PD.No.266/03.10.01/2010-11 dated March 26, 2012 and vide Circular DNBS.CC.PD.No.320/03.10.01/2012-13 dated February 18, 2013 (“Guidelines”), issued to Non-Banking Financial Companies (NBFCs), the Board of Directors have adopted a Fair Practices Code for OptaCredit Fintech Private Limited (“the Company”).
This Fair Practices Code has been prepared in compliance with the “Guidelines on Fair Practices Code for NBFCs” issued by the Reserve Bank of India and aims to provide its borrowers an effective overview of the practices followed by the Company and to enable borrowers to take informed decisions in respect of the financial facilities and services offered by the Company.
The Code covers the general principles on adequate disclosures on the terms and conditions of the loan and the procedures to be followed when dealing with the borrowers. The Company will adhere to the Fair Practices Code in its functioning, in all categories of its products and services offered. The Key elements of the Fair Practices Code are as follows:
A review of compliance of the Fair Practices Code and the functioning of the grievance redressal mechanism would be done by the Management regularly and a consolidated report of such reviews will be submitted to the Board of Directors.
The Company has designated Sriram Chandramouli as Nodal Officer for receiving and resolving complaints from customers.
The contact details of the Grievance Redressal Officer (GRO) are given below:
OptaCredit Fintech Private Limited
No.56, 1st Floor, Thirumalai Pillai Road
T.Nagar, Chennai - 600017
If the grievances / complaints are not redressed satisfactorily, the customer may appeal to the Officer-in-Charge at the Regional Office of DNBS of RBI.
Regional Director - Chennai
Chennai Regional office, Reserve bank of India
Fort Glacis, Rajaji Salai,
Chennai 600 001.