Fair Practices Code (FPC)

Fair Practices Code (FPC) (NRB FINANCE)

Effective Date: 29/08/2024
Company: NRB FINANCE, Rajkot – Gujarat
Email: coustmercare@nrbfinance.in

Fair Practices Code (FPC)

1. Objective

The objective of this Fair Practices Code (FPC) is to ensure fair, transparent, and ethical practices in lending and recovery by NRB FINANCE, while safeguarding the interests of borrowers.

2. Key Commitments to Borrowers

NRB FINANCE commits that:

  • All loan products, interest rates, charges, and terms will be clearly communicated in writing before disbursement.

  • Borrowers will not be charged any hidden fees.

  • Loan sanction letters and repayment schedules will be provided in writing.

  • Borrowers will be given receipts for all payments made.

  • Privacy and confidentiality of borrower’s information will be maintained.

3. Loan Appraisal & Sanction

  • Borrower’s eligibility will be assessed on the basis of repayment capacity and collateral (if applicable).

  • Loan sanction/rejection will be communicated in writing/email.

  • Borrower will receive a Loan Agreement copy and repayment schedule.

4. Loan Disbursement

  • Disbursement will be made only after execution of loan agreement and completion of necessary documentation.

  • Any changes in terms (interest rate, charges, tenure) will be communicated in advance.

5. Interest Rate & Charges

  • Current applicable rate: 15% per annum (fixed).

  • Processing fee: ?500 (application fee).

  • Late penalty: ?500 per delay beyond due date.

  • All charges will be transparently disclosed in the Schedule of Charges.

6. Recovery Practices

  • Recovery will be conducted as per the Loan Recovery & Collection Policy.

  • Borrowers will be treated with respect and dignity.

  • No harassment, abusive language, or coercion will be tolerated.

7. Grievance Redressal

  • A Grievance Officer has been appointed to handle complaints.

  • Borrowers can write to: coustmercare@nrbfinance.in.

  • All complaints will be acknowledged within 7 working days and resolved within 30 days.

8. Confidentiality

  • Borrower’s personal and financial information will not be shared with third parties without consent, except as required by law or for loan transfer/assignment.

9. Legal Jurisdiction

Any dispute arising under this Fair Practices Code shall be subject to the jurisdiction of Rajkot, Gujarat courts only.





The Applicant/Customer confirms that he/she has read and understood the terms and conditions of this Policy/Agreement. In case of any difficulty in understanding the contents, the Applicant/Customer shall immediately contact NRB FINANCE during the loan application process for necessary clarification. NRB FINANCE shall not be held liable for any misunderstanding if the Applicant/Customer fails to seek clarification before proceeding with the loan process.