Fair Practices
Every loan and every recovery visit checked against the fair practices code, every grievance closed on time.
Why it matters
Lenders must give a KFS before signing, collect at an agreed place and not call before 9 a.m. or after 6 p.m.; breaches surface only in complaints and audits.
How the solution handles it
Agents check each KFS for APR, fees and no prepayment penalty, watch recovery visits and calls for place, hours and frequency, read every grievance and draft a reply in the borrower’s language. The grievance redressal officer approves every reply; trends go to the board.
How a grievance moves
Five agents check KFS and pricing, watch recovery conduct, read grievances, draft replies and report; a grievance redressal officer approves every reply.
What it reads, and what it hands back.
What goes in
- KFS and loan agreements
- Recovery visit and call logs
- Complaints (branch, toll-free, RBI CMS)
- Board-approved FPC and pricing policy
What comes out
- Conduct exception list
- Grievance case with clock and draft reply
- KFS and pricing check
- Board and audit report
Who uses it
The difference, in numbers.
Every figure is labelled: a target the solution is built to, an estimate, a typical published result, or a proven one.
30-day window
Sources: RBI Microfinance Directions, 2022 (¶6A KFS, ¶6.6 no prepayment penalty, ¶7.4 recovery 9 a.m.–6 p.m.) · RBI Integrated Ombudsman Scheme, 2021 · “Target” = design goal, measured in the live solution · agents = the live solution’s configuration
5 specialist agents. One person decides.
More in this division.
Every group’s file checked member by member, so loans disburse the day after GRT, not a week later.
Household IncomeEvery household’s income assessed and its repayments tested against the 50% cap before a loan is made.
Over-IndebtednessEvery household’s loans counted across all lenders before one more is added.
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