General Terms & Conditions for KYC

General Terms & Conditions for KYC (NRB FINANCE)

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

1. Mandatory Requirement

  • As per the Gujarat Money Lenders Act and applicable RBI/SEBI guidelines, submission of valid KYC documents is compulsory before disbursement of any loan.

  • Without KYC compliance, no loan application shall be processed.

2. Accepted KYC Documents

Borrowers must provide one document from each category:

  • Identity Proof (Any one)

    • Aadhaar Card

    • Voter ID

    • Passport

    • Driving License

    • PAN Card

  • Address Proof (Any one)

    • Aadhaar Card

    • Electricity Bill / Water Bill (latest, not older than 3 months)

    • Rent Agreement (registered)

    • Passport

    • Bank Statement / Passbook (latest 6 months)

3. Photograph & Signature

  • Borrower must submit a passport-size photograph and specimen signature for record purposes.

  • Digital e-KYC may also be accepted if verified through authorized UIDAI / Government systems.

4. Verification Rights

  • NRB FINANCE reserves the right to verify the authenticity of KYC documents through third-party verification agencies, government databases, or in-person checks.

  • If any discrepancy is found, the loan application shall be rejected.

5. Updating of KYC

  • Borrowers are required to update their KYC details periodically (every 2 years) or whenever there is a change in address/identity.

  • Failure to update may lead to suspension of loan services.

6. Data Security & Privacy

  • All KYC data shall be stored securely and used strictly for internal verification purposes.

  • NRB FINANCE will not share borrower data with unauthorized third parties, except when required by law or government authorities.

7. Rejection / Blacklisting

  • Submission of forged or false documents will result in immediate rejection of the loan application and blacklisting of the borrower.

  • Legal action may be initiated against borrowers submitting fraudulent KYC documents.

8. Final Authority

  • NRB FINANCE reserves the sole right to approve or reject any KYC submission.

  • All disputes regarding KYC compliance shall fall under the jurisdiction of Rajkot, Gujarat.

 


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.