The Fair Practices Code (“FPC”) has been devised by Capital Trust Limited (“CTL” or “Company”) in accordance with Master Directions RBI/2015-16/16 DNBR (PD) CC.No.054/03.10.119/2015-16 Dated July 01, 2015 issued by The Reserve Bank vide its circular dated September 28, 2006 and subsequent amendments, on Fair Practices Code (FPC) for all NBFCs to be adopted by them while doing lending business. The guidelines inter alia, covered general principles on adequate disclosures on the terms and conditions of a loan and adopting a non-coercive recovery method.
CTL has put in place the FPC with an endeavor to achieve synchronization of best practices when the Company is dealing with its stakeholders such as customers, employees, vendors, etc. The Company’s Fair lending practices shall apply across all aspects of its operations including marketing, loan origination, processing, and servicing and collection activities. CTL’s commitment to the FPC would be demonstrated in terms of employee accountability, monitoring and auditing programs, training and technology. The Company’s Board of Directors and the management are responsible for establishing practices designed to ensure that its operations reflect a strong commitment to fair lending and that all employees are aware of that commitment.
The essence of the FPC lies in the following aspects that CTL shall strive to follow in spirit and in letter: ➢ To provide professional, efficient, courteous, diligent and speedy services.
(I) Applications for loans and their processing
(II)Loan appraisal terms and conditions
(iii) Disbursement of loans including changes in terms and conditions
Customer information would be revealed only under the following circumstances, namely;
(V) Responsibility of Board of Directors
The Board of Directors of CTL has laid down grievance redressal mechanism within the organization as per details mentioned in the next paragraph. Such a mechanism ensures that all disputes arising out of the decisions of CTL’s functionaries are heard and disposed of at least at the next higher level. The Board of Directors of CTL shall annually review the compliance of the FPC and the functioning of the GRM. A consolidated report of compliance shall be submitted to the Board every year.
(vi) Language and mode of communicating FPC
(vii) Regulation of excessive interest rates charged
(VIII) Complaints about excessive interest rates charged
Boards of CTL shall lay out appropriate internal principles and procedures in determining interest rates and processing and other charges.
Write to us at the below mentioned address:
Capital Trust Limited
205 Centrum Mall,Sultanpur,MG Road, New Delhi-110030
In case the complaint is not resolved within the given time or if he/she is not satisfied with the solution provided by the company, the customer can approach the Complaints Redressal Officer. Name and details of Compliant Redressal Officer is as follows:
Mr. Nitesh Verma
If the complaint/dispute is not redressed within a period of one month, the customer may appeal to Officer-in-Charge of the Regional Office of Department of Non-Banking Supervision of RBI under whose jurisdiction the Registered Office of the Capital Trust falls.The details of DNBS are as given below:The General Manager,
Department of Non-Banking Supervision,
Reserve Bank of India,
6, Sansad Marg
New Delhi – 110 001
The customer can also approach Ombudsman under Ombudsman Scheme for Non-Banking Financial Companies, 2018 , in case of any complaint at C/o
Reserve Bank of India Fax No : 23725218-19
Sansad Marg New Delhi -110001 STD Code: 011 Telephone No: 23724856