Approved by

Regn No. N-02.00290

Rupeek Loan Fair Practices

Rupeek Capital Private Limited


  1. This FPC has been formulated, approved and adopted by the Board of Directors (“Board”) of the Rupeek Capital Private Limited (hereinafter referred to as the “Company”), in light of the ‘Guidelines on Fair Practices Code for NBFC’ issued by the Reserve Bank of India (“RBI”) and as updated and amended from time to time.
  2. The purpose of this FPC is to provide all concerned parties, especially the customers of the Company (hereinafter referred to as the "Customer"), with an overview of the procedures and practices adopted by the Company with respect to the products and services it offers. This FPC underpins the Company’s efforts to establish a transparent and fair relationship with its Customers based on industry best practices. It also seeks to empower the Customers by providing them all necessary information and inputs regarding the Company’s products and services in order to enable the Customers to make informed decisions while availing these products and services.
  3. This FPC applies to all products and services offered by the Company and is binding on all its officers and employees.


  1. Compliance of all applicable laws: The Company hereby undertakes to comply and adhere to the provisions of all applicable laws, regulations and guidelines issued by the relevant regulatory authorities, including but not limited to the RBI, and all other competent authorities.
  2. Customer relationships: The Company shall ensure that it establishes and conserves fair, transparent and unimpeachable standards of professionalism when engaging with its Customers and endeavours to build robust Customer relationships through efficient handling of all Customer service related issues and proper training of its staff to ensure the same.
  3. No discrimination policy: The Company undertakes to not discriminate amongst Customers on grounds such as race, religion, caste, gender or language.
  4. Full disclosure: The Company ensures that it shall follow a policy of full disclosure with respect to all terms, conditions and particulars of the products and services offered by it. The Company shall not resort to any wrongful or misleading advertisement or publicity about its products and services and shall refrain from concealing any material facts relevant to the Customer for making an informed decision at the time of availing any of the products or services of the Company.
  5. Communication in vernacular language for ease of Customer: The Company shall ensure that all communications shall be made to the Customer in the English language or such vernacular language as is easily comprehensible and understood by such Customer.
  6. Storage, safety and security: The Company shall ensure that it takes all reasonable measures to put in place a mechanism for the safe and secure custody and storage of the security pledged by the Customer with the Company for availing its products, and shall ensure it maintains adequate insurance coverage. The Company shall compensate the Customer for any loss or damage of the security in its custody to the extent specified in the respective Pledge Card and the Company’s terms and conditions.
  7. Grievance Redressal Mechanism: The Company shall put in place a robust grievance redressal mechanism to ensure that Customer grievances, complaints and clarifications are addressed in a quick and speedy manner and shall ensure that suitable solutions are provided for the expeditious resolutions of such Customer grievances, complaints or clarifications.
  8. Display of FPC: The Company shall display the FPC on its website.


  1. Mode of communication: All communications shall be made to the Customer in such language as is understood by him/her.
  2. Full disclosure of terms and conditions to enable informed decision by Customer: The Company shall ensure that the loan application form will contain all necessary information on the loans as is required by the Customer to: (i) make a fair evaluation of the terms and conditions being offered to him/her, and (ii) make a well-informed and reasonable decision based on full and complete knowledge of all facts, terms and conditions.
  3. Required documentation: The loan application form shall categorically state all the requisite documentation that the Customer is required to execute for the purpose of availing the Company’s products. The Company shall also provide the Customer with a physical or electronic copy of such documents for his/her perusal prior to sanction of the loan, if so requested by the Customer.
  4. Acknowledgment of receipt of loan application form and timelines for disposal thereof: The Company shall ensure that it formulates a mechanism to ensure that upon receipt of the loan application form, the Company shall ensure that it processes the loan application form and accords sanction for the loan, if all criteria and requirements are found to be satisfactory, in one given instance at the same sitting. If for any reason, the evaluation and processing of the loan application form, sanction of the loan and disbursement of the approved loan amount cannot be carried out simultaneously at one given sitting, the Company shall ensure that it provides the Customer with an acknowledgement of receipt of the loan application form and shall, therein, also disclose the timelines within which the Company’s representatives shall get back to the Customer regarding their loan application.


  1. Sanction and disclosure of terms & conditions of loan: The Company shall, in the document granting the Customer its products (“Pledge Card”) communicate, to the Customer, the terms and conditions of the loan sanction, including but not limited to: (i) the loan amount sanctioned by the Company; (ii) the annualised rate of interest, including the method of application thereof; and (iii) penalties, if any, with respect to delayed repayment of principal and interest (to be disclosed in bold letters in the Pledge Card). The Company shall also keep a record of the acceptance of the terms & conditions by the Customer.
  2. Provision of the Pledge Card, the general loan terms and conditions (“Loan T&Cs”) and all enclosing documents: Keeping with the objective of maintaining fair, transparent and ethical standards of dealing with the Customers, the Company shall ensure that it provides the Customer with a copy of the Pledge Card, Loan T&Cs, along with all enclosures and supporting documents to the Customer at the time of sanction or disbursement of loans to ensure that the Customer is fully aware of all the terms and conditions attached to the product that he/she avails of from the Company.


  1. Disbursal of loan amount: The loan shall be disbursed upon completion of all necessary formalities and execution of the requisite documentation.
  2. Change in terms & conditions and effectiveness of the same: The Company shall give the Customer due written notice of any change in the terms & conditions of the loan, including changes in disbursement schedule, interest rates, service, pre-payment and other incidental charges, if any. It is hereby clarified that any such changes shall take effect prospectively only. The Loan T&Cs shall contain a clause clearly specifying that the Company has the right to affect any change or revisions to the terms & conditions, upon providing the Customer with due written notice of the same.
  3. Recall of loan/Accelerated payment or performance: The decision to recall the loan; or accelerate the repayment or performance of the loan prior to the expiry of the tenure of the loan, shall be in line with the terms & conditions of the Pledge Card and the loan terms and conditions.


  1. Framework policy for determining rate of interest module: The Company shall formulate a suitable internal policy framework for determining the interest rate module and other charges to be levied on the Customer with respect to the loan, taking into consideration relevant factors and also ensuring at the same time, that such rates of interest and other charges are not prejudicial to the interest of the Customers.
  2. Differential levy of rate of interest, notice and publication thereof: The Company hereby clarifies that different categories of Customers may be charged differential rates of interest and be subject to different gradation of risks, depending on certain factors such as the credit score of the Customer, purpose of the loan, etc. The Company shall make full disclosure of the rationale for such differential charging in the loan application form and the Pledge Card. Such information shall also be displayed on the Company’s website: for the awareness of Customers. Any change in the rate of interests or other charges shall be duly notified to the Customers. It is clarified that any such differential charging shall be based on sound commercial principal and shall not arbitrarily discriminate between Customers.
  3. Annualised rate of interest: The Company shall undertake to make appropriate disclosures in the loan application form and the Pledge Card with regard to the annualised rate of interest that shall be levied on the loan, in order to enable the Customer to determine the exact rates of interest that will be imposed on him/her with respect to the loan.


  1. Adequate storage and security measures: The Company shall ensure that from the point of time when the Customer deposits the gold ornaments pledged as collateral for securing the loan from the Company (“Collateral”), the Collateral shall be handled by trained personnel and transported and stored securely. The Company shall also ensure that trained and reliable security personnel are deployed at the storage vaults where the Collateral is stored at all times.
  2. Training; Periodic review of safety and security measures: The Company shall conduct an on-going and periodic review of the safety and security measures employed for the safekeeping of the Collateral. Training of the security personnel and such other persons in charge of handling the Collateral shall be conducted at regular intervals. The Company shall further ensure that internal audits are carried out periodically to ensure that the safety and security procedures devised and employed by the Company are being adhered to strictly at all times.
  3. Insurance: The Company shall ensure that it obtains adequate insurance policies with regard to eventualities such as theft, burglary, fire to insure the Collateral at all times during its custody.


  1. Repayment and release of security: Subject to Company’s lien and right to set-off, the Company shall release the Collateral upon the satisfaction of all dues pending and outstanding by the Customer with respect to the loan in the same condition as was at the time of pledging of the Collateral by the Customer. Any defects or damage to the Collateral at the time of deposit shall be specified in the Pledge Card at the time of taking such Collateral into the Company’s custody to avoid any discrepancies at the time of its release. Please note that the Company may charge pre-payment charges, penalty on default interest and such other charges [●], as specifically mentioned in the Pledge Card.
  2. Lien and set-off: The release of the Collateral, as described above, shall be subject to any right or lien that the Company may have against the Customer with respect to any other claim that the Company may have against such Customer. In the event of existence of any such right or lien, the Company shall provide the Customer with due written notice of the details and particulars of such claim, including the conditions under which the Company is entitled to retain such Collateral till the full and final discharge of such claim by the Customer.
  3. Insurance and liability in the event of any loss or damage: The Company shall obtain adequate insurance cover to protect the loss and damage of the Collateral in its custody due to theft, burglary, damage due to fire, mishandling by the Company’s representatives or employees, etc. The Company’s liability shall be limited to: (i) in the event of loss, the extent of the net weight of the Collateral as mentioned in the Pledge Card minus the loan amount and interest and other charges owed to the bank till date, or (ii) in the event of damage, to the extent of the damage to the Collateral. If the loss/damage is caused by reasons beyond the Company’s control, the Customer shall only be compensated to the extent of the insurance coverage for the same and only upon the insurance settlement being received by the Company for such insurance claim.
  4. Non-repayment and auction: In the event that the Customers defaults in repayment of the loan amount, interest and other charges thereon, the Company shall send reminders communicating the default to the Customer. If the Customer fails to respond to such reminders and make the outstanding repayment within the timelines prescribed by the Company in the said communications, the Company shall be entitled to undertake the auction of the Collateral for realisation of the dues pending and owing by the Customer, only as a last resort, and after having served the Customer with due notice of undertaking the same. Notice shall also be published in at least 2 (two) newspapers, one in vernacular and another in a daily newspaper. The auction shall be conducted in the manner specified in the Loan T&Cs, in accordance with the applicable guidelines prescribed by the RBI. The proceeds of the auctions shall be utilised towards repayment of charges, default interest, interest and principal (in that order) owed by the Customer to the Company. Surplus proceeds may also be appropriated by the Company towards repayment of any other liability owed by the Customer to the Company. Any surplus thereafter, shall be released to the Customer. The Company shall ensure that there is no conflict of interest in the auction process and shall only be undertaken with such auctioneers as are approved by the Board of the Company. The Company shall not participate in the auction process by itself.
  5. Customer protection: The Company shall ensure adequate training of its personnel to ensure that its personnel shall not resort to undue harassment, including but not limited to incessant calls at odd hours, use of physical force, etc., or rude behaviour in recovery of loans and their dealings otherwise with the Customers.


  1. Display of details of grievance redressal officer: In the event of any complaints, grievances, feedback or clarifications, the Customer can write to or contact us at 080-39534646. The Company’s representatives shall endeavour to respond to your queries and clarifications within 3 (three) business days to provide a suitable solution, failing which you can address your grievances, complaints, clarifications or feedback to the:
    Back Office Team, Plot #45/B,Subham Complex,1st A Main, Gr.Flr., Front Wing (B), Sarakki Industrial Layout, J.P.Nagar Bangalore 560 078.
  2. Appeal to the Department of Non-Banking Supervision (DNBS) of the RBI: In the event that the Customer’s concerns are not addressed in the manner provided above upon the expiry of a period of 30 (thirty) days, the Customer may appeal to the relevant DNBS of the RBI of Bangalore, India.
  3. Training of Company personnel; regular review and update: The Company shall train its personnel adequately, on an on-going basis, to ensure high-level Customer services. The Company shall also ensure that it reviews the grievance redressal mechanism and its effectiveness at regular intervals and implement necessary measures to ensure its competency.


  1. The Company shall ensure that all information, whether personal or transactional, received from the Customer shall be kept confidential. The Company shall ensure that such information shall be shared with its employees, representatives and agents, if any, on a need-to-know basis only and that such parties are aware of and are bound by similar confidentiality obligations to ensure protection of such information.
  2. However, the provisions herein shall not preclude the Company from sharing such information with any statutory or regulatory bodies such as the RBI or the Credit Information Bureau (India) in the course of abiding with Applicable Laws, or in public interest.
  3. Further, the Company shall be authorised to share such information with its group/associate entities or companies if so authorised by the Customer, or any such person/entity as specifically agreed upon with the Customer.


  1. Conduct of the Company: The Company shall not interfere in the affairs of the Customer, except as specified and to the extent required in the context of the Pledge Card and the Company’s terms and conditions.
  2. Transfer of loan accounts: In the event of receipt of request for transfer of loan account by the Customer, the Company shall respond to such request within a period of 21 (twenty one) days from the date of receipt of request, stating the acceptance or objections, with reason thereof.
  3. Know-Your-Customer (“KYC”) compliance; due diligence of Customers: The Company shall put in place a Board approved policy to undertake and ensure that the KYC guidelines as specified by the RBI have been complied with satisfactorily. The Company shall require the Customer to provide accepted proof of identity, at the time of loan application, in order to enable to undertake the prescribed KYC compliances. The Company shall also carry out thorough due diligence on the Customers prior to extending any loans to such Customer(s). In the event that the sanctioned loan amount is INR 5, 00,000/- (Indian Rupees Five Lakhs only) or more, the Customer shall be also required to provide a copy of his/her PAN card.
  4. Appraisal of Collateral: The Company shall ensure that it employs the standard acceptable methods for valuation and verification of the weight and purity of the Collateral. The Company shall, with the approval of its Board, devise and implement policies and procedures for the purpose of assaying the Collateral, in accordance with the applicable governmental regulations.
  5. Ownership of Collateral: The Company shall, with the approval of its Board, determine the policy and necessary documentation required from the Customer to ascertain and satisfy itself of the ownership of the Collateral.
  6. Standardised documentation: The Company shall ensure that all loan documentation is standardised and consistent across all its branches, if any.
  7. Policies for division of responsibilities: The Company shall, with the approval of its Board, implement practices and procedures to ensure the clear division of responsibilities amongst the various departments and personnel of the Company, processes for approval and execution of work, etc.
  8. Responsibility of the Board: Apart from the responsibilities as laid down in this FPC above, the Boar shall also be responsible for ensuring periodic review of this FPC and the underlying policies and procedures, including but not limited to the grievance redressal mechanism, to ensure the compliance and effective functioning of the same.
  9. Sub-contracting: The Company may subcontract all or part of its services. Such subcontracting will be in accordance with law and this FPC shall be binding on such subcontractors.