Fair Practices

Client and Lending

  • There only three component in pricing of the loan – Interest, processing charges and Insurance premium including administrative charges as permissible under IRDA guidelines.
  • There is no penalty charged on delayed payment.
  • Nimisha shall not collect any security deposit / margin from the borrower.
  • There is a standard format of loan agreement.
  • Borrower’s loan card reflects all the five details as stipulated by RBI.
  • Effective rate of interest charged by it is prominently displayed in all its offices, in the literature and on its website.
  • Complies with RBI guidelines on multiple lending, over borrowing and ghost borrowers.
  • Nimisha follows non coercive methods of recovery as stipulated by RBI.
  • Nimisha complies with RBI guidelines on Corporate Governance as applicable to it.

Grievance Redressal

The company follows fair practices code generously. To follow fair practices a grievances redress cell has been set up to handle such a cases.