How we lend.

Loan application forms, where used, include all information that affects the interest of the borrower so that a meaningful comparison with terms and conditions offered by other lenders can be made and an informed decision taken. The application form will also indicate the documents required to be submitted along with the application.

We will provide a written acknowledgement to every loan application we receive, indicating an expected timeline for the credit decision. Time taken to communicate the decision will be reasonable given the complexity of the request.

Borrowers will not be discriminated against on grounds of sex, caste or religion in our lending activities. This does not however preclude us from participating in credit-linked schemes framed for weaker sections of the society.

We convey in writing to the borrower the amount of loan sanctioned along with the terms and conditions including the annualised rate of interest and the method of application thereof. Acceptance of these terms by the borrower is kept on record.

Penal charges, if any, for late repayment will be mentioned in bold in the loan agreement. Charges levied will be reasonable and not used as a revenue-enhancement tool.

The loan agreement and sanction letter are furnished to the borrower in a language understood by the borrower at the time of sanction or disbursement, whichever is earlier.

Disbursement will be done in accordance with the sanction terms and conditions. Any change in terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges or other applicable fees will be communicated to the borrower in writing with reasonable advance notice.

Changes in interest rates and charges will be effected prospectively only. A provision regarding this is included in the loan agreement.

The decision to recall or accelerate payment or performance under the agreement will be in consonance with the loan agreement and will be communicated in writing.

All securities will be released on repayment of all dues or on realisation of the outstanding amount of loan, subject to any legitimate right or lien for any other claim we may have against the borrower. If such right of set-off is to be exercised, the borrower will be given notice with full particulars of the remaining claims.

In the matter of recovery of loans, we will not resort to undue harassment of the borrower. Our staff and any authorised recovery agents will conduct themselves in a manner consistent with the following standards:

• Borrowers are contacted ordinarily at the place of their choice; in the absence of any specified place, at their residence or place of business or occupation.
• Identity and authority to represent us are made known to the borrower at the first instance.
• Communication is undertaken in a civil manner. Calls and visits are restricted to reasonable hours — between 08:00 and 19:00 hours, except where specifically requested otherwise.
• Borrowers' requests to avoid calls at particular times or particular places are honoured to the extent possible.
• Time and number of calls and contents of conversation are documented.
• All assistance is given to resolve disputes or differences in a mutually acceptable and orderly manner.
• During visits to the borrower's place for dues collection, decency and decorum are maintained.
• Inappropriate occasions such as bereavement in the family or other calamitous occasions are avoided for making calls or visits to collect dues.

We refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement, unless new information not earlier disclosed by the borrower has come to our notice.

In the case of receipt of a request from the borrower for transfer of the borrowal account, our consent or otherwise — that is, our objection, if any — is conveyed within 21 days from the date of receipt of the request. Such transfer is as per transparent contractual terms in consonance with law.

Confidentiality. All personal information of customers is kept strictly confidential and not divulged to any other person except where (i) required by law or regulation, (ii) there is a duty to the public to reveal information, (iii) it is in our interest to reveal information after the customer's written consent, or (iv) at the request of the customer.

A grievance redressal mechanism is in place to ensure that disputes between us and our borrowers are resolved fairly and promptly. The four-level escalation path, including the Grievance Redressal Officer, the Principal Nodal Officer and the RBI Integrated Ombudsman, is published at our Grievance Redressal page.

The Board of Blue Jay Finlease Private Limited reviews compliance with this Fair Practices Code and the functioning of the grievance redressal mechanism at regular intervals.