This Code has been formulated by Aptus Finance India Private Limited (Aptus Finance), the “company”, pursuant to the Guidelines issued by the Reserve Bank of India on Fair Practices Code for Non Banking Finance Companies vide its circular DNBR (PD) CC.No.054/03.10.119/2015-16 dated July 01, 2015. This Code supersedes all previous versions and shall come into force with effect from August 11, 2020.
The primary objective of the code is as below,
- To promote good and fair practices by setting minimum standards in dealing with customers.
- To increase transparency so that the customer can have a better understanding of the services expected.
- To promote a fair relationship between the company and the customer.
- To encourage market forces, through fair competition, to achieve higher operating standards.
- To foster confidence in the housing finance system overall.
If APTUS FINANCE cannot provide the loan to the customer, it will communicate in writing that the loan has been declined and to the extent possible explain to the customers the reasons for decline
When a person consents being a guarantor to a loan, he/she will be informed about
- His/her liability as guarantor
- The amount of liability he will be committing himself to the company;
- Circumstances in which APTUS FINANCE will call on him/her to pay up the liability whether APTUS FINANCE has recourse to his/her other monies in the company if he/she fails to pay up as a guarantor;
- Whether his/her liabilities as a guarantor are limited to a specific quantum or whether unlimited;
- whether his liabilities as a guarantor are limited to a specific quantum or whether unlimited;
- Time and circumstances in which his/her liabilities as a guarantor will be discharged as also the manner in which APTUS FINANCE will notify him/her about this.
- APTUS FINANCE will keep him/her informed of any default on the loan by the borrower to whom he/she stands as a guarantor.
All personal information of customers will be treated as private and confidential (even when the customers are no longer customers), and will be guided by the following principles and policies. APTUS FINANCE will not reveal information or data relating to customer accounts, whether provided by the customers or otherwise, to anyone, including other entities in APTUS FINANCE’s group, other than in the following exceptional cases:
- If the information is to be given by law;
- If there is a duty towards the public to reveal the information;
- If APTUS FINANCE’s interests require them to give the information (for example, to prevent fraud but it will not be used as a reason for giving information about customer or customer accounts (including customer name and address) to anyone else, including other companies in the group, for marketing purposes;
- If the customer asks APTUS FINANCE to reveal the information, or with the customer’s permission; If APTUS FINANCE is asked to give a reference about customers, it will obtain his written permission before giving it;
- The customer will be informed the extent of his rights under the existing legal framework for accessing the personal records that APTUS FINANCE holds about him;
- APTUS FINANCE will not use customer’s personal information for marketing purposes by anyone including APTUS FINANCE unless the customer specifically authorizes APTUS FINANCE to do so.
Every branch of the Company has been provided with a complaints register. The customers can lodge their complaints in the register; the Branch Manager would be the person responsible to handle the customer grievances. If the query remains unsolved for 14 days or if the customer is not satisfied with the resolution provided by the branch manager, the customers can contact the Manager, Customer Service through:
- Mail: Customers can mail their grievances directly through the e-mail id: email@example.com
- Post: By sending their complaints to “Manager, Customer Service, Aptus Finance India Private Ltd, 8B, Doshi Towers, 205, P H Road, Chennai -600010.
- Phone: Customers can directly call Aptus Finance at 044- 45650030 and register their complaint.
If the query remains unsolved for 7 days or if the customer is not satisfied with the resolution provided by the Manager, Customer Service, the customers can contact the Grievance Redressal Officer (GRO) of the Company whose details are given below.
- Name of the GRO: Laxmi Sridhar, Manager & CFO
- Telephone: 044 45650037
- E-mail: firstname.lastname@example.org
If the query remains unsolved for 7 days or if the customer is not satisfied with the resolution provided by the GRO, the customer may approach the Officer-in-Charge of the Department of Non-Banking Supervision of the Reserve Bank of India, Chennai at the following address.
- Reserve Bank of India
- Department of Non‐Banking Supervision,
- RBI, Fort Glacis, Rajaji Salai,
- Chennai, Tamil Nadu – 600001.
- Phone no – 044 25393406
- Fax no – 044 25393797
- e-mail: email@example.com