Introduction and Objectives

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Introduction and Objectives

The Reserve Bank of India (RBI) had issued the guidelines on Fair Practices Code for Non-Banking Finance Companies (NBFCs) in Master Direction DNBR. PD. 008/03.10.119/2016-17 (as and when amended) which sets the fair practices standards when dealing with individual customers and to serve as a part of best corporate practice. Based on this, Viable finance and Housing Pvt. Ltd. (“the Company”) has formulated this Policy known as Fair Practices Code (“FPC”).

The Code will facilitate the customers to take informed decisions in respect of the financial facilities and services to be availed by them and will apply to any loan that the Company may sanction and disburse.
It is, and shall be, the policy of the Company to make loan products available to all qualified applicants without discrimination on the basis of race, caste, colour, religion, sex, marital status or handicap. All the customers will be treated consistently and fairly. The employees of the Company will offer assistance, encouragement and service in a fair, equitable and consistent manner.
The Company shall also communicate the FPC to its customers by placing it on the Company’s website at (website address & link after completion ).

The Company shall ensure that charges/fees are appropriately informed to the customer. Terms and conditions pertaining to the facility will be conveyed to the prospective customers. The Company commits that disputes arising out of the lending decisions will be appropriately and promptly addressed and resolved by the Company’s Grievance Redressal Mechanism. Grievances coming from any Lending Partner Platforms shall also be addressed by the company.

The Company’s Fair lending practices shall apply across all aspects of its operations including marketing, loan origination, processing, servicing and collection activities. The Company’s commitment to FPC would be demonstrated in terms of employee accountability, monitoring and auditing programs, training and technology.

Objective of the Code :

  • This Code has been developed to
  • Adopt the best practices followed by entities in the financial and similar service sector while dealing with customers.
  • Promote good, fair and trustworthy practices by setting minimum standards in dealing with the customers;
  • Increase transparency to enable the customers to have a better understanding of what they can reasonably expect of the services.
  • Show intent of the Board of Directors and Senior Management towards fair and transparent dealings in business.
  • Foster fair and cordial relationship between the customers and the Company.
  • Reckon with market forces, through competition and strive to achieve higher operating standards.