Fair Practices Code

01Applications and their processing

All loan application forms, disclosures and communications are made available in a language understood by the borrower — English, Hindi or the regional language captured during onboarding — so that no borrower agrees to terms they cannot read.

We acknowledge every application immediately on submission and communicate an indicative decision timeline. Where additional documents or clarifications are required, we request them in a single consolidated list rather than in piecemeal follow-ups.

• The application form states the documents required to process it (PAN, Aadhaar-based eKYC, bank statement for account verification).
• Personal identifiers are always handled and displayed in masked form, for example PAN as ABCDE****F and Aadhaar as XXXX XXXX 1234.
• Rejection of an application, where it occurs, is communicated in writing with the principal reason.

02Loan appraisal, terms and the Key Fact Statement

Every sanction is preceded by an appraisal of the borrower’s repayment capacity, drawing on the declared income, bank-account verification and the CIBIL bureau record. We do not lend beyond a borrower’s assessed ability to repay.

Before any agreement is signed, the borrower receives a Key Fact Statement (KFS) in the prescribed format. The KFS presents, on a single page and in plain terms, the all-inclusive cost of the loan expressed as an Annual Percentage Rate.

• Sanctioned amount, tenure and the equated monthly instalment (EMI).
• Annualised interest rate and the Annual Percentage Rate (APR) inclusive of all charges.
• Processing fee, documentation charges and any other one-time deductions.
• The cooling-off / look-up period during which the borrower may exit without penalty.

03Disbursement and changes in terms and conditions

Disbursement is made to the borrower’s verified bank account over UPI or bank transfer only after the loan agreement and the e-NACH mandate have been executed via Aadhaar e-sign. The borrower receives a copy of the executed agreement and all enclosures quoted in it.

Any change in the terms and conditions — including the interest rate, fees or charges — is notified to the borrower in advance and applied prospectively only. Changes to the interest rate or charges are never made with retrospective effect.

• A revised repayment schedule is shared whenever the EMI, tenure or rate changes.
• Recall or acceleration of the loan, and any release of security, is exercised strictly in line with the agreement.

04Penal charges policy

In line with RBI guidance, charges levied for non-compliance with the terms of the loan are treated as penal charges and are not capitalised — no further interest is computed on such charges.

Penal charges are reasonable, commensurate with the default, and disclosed up front in the Key Fact Statement and the loan agreement. They are never used as a revenue-enhancement tool.

• Penal charges are levied as a fixed amount per instance of default, not as an additional rate of interest.
• The quantum and reason for any penal charge are communicated to the borrower when it is applied.

05Recovery of loans

We pursue recovery with restraint and respect for the dignity of the borrower. Our staff and any authorised agents are trained to engage borrowers courteously and to rely on guidance and negotiated repayment rather than intimidation.

Recovery contact is limited to reasonable hours, and we do not resort to harassment, persistent calling, public humiliation or interference with the borrower’s privacy.

• Contact is made only between 08:00 and 19:00 unless the borrower requests otherwise.
• No use of abusive language, threats, or contact with the borrower’s relatives, employer or social contacts to apply pressure.
• Recovery agents carry identification and act within the authority delegated to them.
• A grievance about recovery conduct can be raised through the channels in the redressal section below.

06Responsibility of the Board of Directors

The Board of Directors has adopted this Fair Practices Code and is responsible for laying down the mechanism for resolving grievances arising out of lending decisions and conduct.

A consolidated report on borrower complaints and their disposal, together with the functioning of the grievance-redressal mechanism, is placed before the Board at periodic intervals for review.

07Confidentiality of customer information

Information furnished by a borrower is treated as strictly confidential and is used only for the purpose for which it was collected. We do not disclose borrower details to third parties except as required by law, by a regulator, or with the borrower’s explicit consent.

Personal and financial data is stored securely and identifiers such as PAN, Aadhaar, bank account and OTP are never exposed in plain form in logs, communications or support interactions — only masked representations are used.

• Bureau enquiries (CIBIL) are made only with the borrower’s consent captured during the application.
• Data shared with regulated service providers is governed by contractual confidentiality and data-protection obligations.

08Regulation of interest rates

Interest rates are determined on a transparent, risk-based model that considers the cost of funds, the borrower’s credit profile and the tenure of the loan. The rate, the approach to gradation of risk and the rationale for differential pricing are disclosed to the borrower and published on our platform.

We do not charge usurious or excessive rates. Interest is computed on the outstanding principal on a reducing-balance basis and is communicated as both an annualised rate and an all-inclusive APR.

09Grievance redressal mechanism

A borrower who is dissatisfied with any aspect of our service may raise a grievance through the in-app support channel or by writing to our Grievance Redressal Officer. We aim to acknowledge every grievance promptly and to resolve it within the timelines prescribed by the RBI.

If a complaint is not resolved within 30 days, or the borrower is not satisfied with the resolution, the matter may be escalated to the RBI Ombudsman under the Reserve Bank — Integrated Ombudsman Scheme.

• The name and contact details of the Grievance Redressal Officer are displayed within the app and at our registered office.
• Escalation paths to the Regional Office of the RBI’s Department of Supervision are made available to the borrower.

10Periodic review

This Fair Practices Code, and our compliance with it, is reviewed periodically and at least once a year. Revisions arising from changes in RBI directions or in our own practices are published with a fresh effective date so that borrowers always have access to the current version.