Greenwings Innovative Private Limited (Hereinafter referred to as “Company” or “Greenwings Innovative”) is a Non Deposit Taking NBFC registered with the Reserve Bank of India. This document provides details of the practices which Greenwings Innovative follows to ensure fair and transparent dealings with its customers and is compliant with the RBI Circular DNBR (PD) XXXXXXXXXXXXXXXXXXXXX as may be updated from time to time (“Guidelines”).

Application of the Code

This code shall apply to all authorized personals it in the course of its business with respect to all products and services.
Commitment

Company shall adhere to this code to act fairly and reasonably in all dealings, on the ethical principle of integrity and transparency, to meet the standard practices prevalent in the finance industry.

    The Company will provide clear and transparent information to customers in the language of their preference so as to enable them to understand:
    Terms and conditions of the products and services offeredIncluding the interest rate and service charges.
    Benefits available to customers.
    Products and services of the company will meet relevant laws and regulations in both letter and in spirit.
    The Company will act quickly in correcting mistakes and attending to complaints lodged by its customers.
    The Company shall not discriminate amongst its prospective/existing customers on the basis of age, race, caste, gender, marital status, religion or disability.
    A copy of the code will be posted on the Company’s website and in a visible location at each branch office.
    A copy of the code may be provided on request to any prospective or existing customer.

(i) Application for loans and their processing

    All communication to the borrower shall be explained to the borrower in the language understood by the borrower.
    Loan application forms shall include necessary information that affects the interest of the borrower and an informed decision can be taken.
    Acknowledgement for receipt of all loan applications will be given to the borrower.
    Generally, all particulars required for processing the Loan Application will be collected by the Company at the time of application.In case it needs any additional information, the customer will be informed to provide the same.
    The Company may verify the details mentioned by the customer in the loan application by contacting him/her at his/her residence and/or on business telephone numbers and/or physically visiting his/her residence and/or business addresses through agencies appointed for this purpose, if deemed necessary.

(ii) Loan appraisal and terms/conditions

    Every loan approval shall be communicated to the borrower by way of a Sanction Letterwhich shall include the key terms and conditions of the loan including the loan amount approved, processing fees, annualized rate of interest, tenor of the loan, penal charges, etc. Contents shall be explained to the borrower in a language understood by the borrower.
    A copy of the loan agreement shall be given to the borrower for records and the contents explained in a language understood by the borrower.

(iii) Disbursement of loans including changes in terms & conditions

    Should there be any changes in the terms and conditions, a notice shall be given in a language understood by the borrower indicated the change of terms.Changes in the interest rates and charges shall be effected only prospectively.
    Any decision to recall/accelerate payment or performance shall be in consonance with the loan agreement.
    All securities shall be released on repayment of all dues or on realization of the outstanding amount as long as the Company’s legitimate right or lien for any other claim is not violated.If such set-off is to be exercised, the Company shall give notice about the same with full particulars to the borrower.

(iv) General

    Greenwings Innovative will not interfere in the affairs of the borrower except for the purposes provided in the terms and conditions of the Sanction Letter and Loan Agreement unless new information,not earlier disclosed by the borrower comes to the notice of the Company.
    For any request for Balance Transfer received from the borrower, the consent or otherwise shall be communicated within 21 days of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with the law.
    Greenwings Innovative shall not resort to undue harassment for recovery of dues. Proper training shall be given to the field staff to ensure that borrowers are dealt in an appropriate manner.
    The Board of the Company shall review theRedressal of grievances at regular intervals.
    The management shall place before the board the status of all complaints at regular intervals.
    The details of the Grievance Redressal Officer (including name, address, contact number, email ID, etc) shall be prominently displayed at the branches and also posted on the website.
    In case the complaint is not redressed within a period of one month, the borrower may appeal to the Officer in Charge of the Regional Office of the Department of Non Banking Supervision, Jaipur under whose jurisdiction the registered office of the Company falls.

Privacy

The Company will gather individual data that it accepts to be significant and required to comprehend the clients profiles and direct its business. The Company shall treat all close to home data of clients as private and classified and will not reveal any data to a third individual except if required by any law or Governmentauthorities including Regulators or Credit offices or where the sharing of data is allowed by the client. In the event that organization will profit administrations of any outsider for providing bolster administrations, Company will necessitate that such outsiders handle clients individual data with a similar level of classification.

Promoting, Marketing and Sales

The Company will guarantee that all publicizing and special material is clear, and not deceiving.

The Company may, every now and then, impart to clients different highlights of their items profited by them. Data about their different items or limited time offers in regard of items/administrations might be passed on to clients just in the event that he/she has given his/her agree to get such data/administration.

Underwriters

At the point when an individual is viewed as an underwriter to an advance, organization will advise him/her the accompanying under affirmation:

Letter/Deed of Guarantee expressing the terms of obligation as underwriter.

Organization will keep him/her educated of any default in the adjusting of the credit by the borrower to whom he/she remains as an underwriter.

Credit Bureau/Reference offices

The Company may offer data to Credit Bureau/Reference offices about the individual obligations, the client owes to it if:

The client has fallen behind with his/her installments.

Lawful procedures have been started against the client to recoup the contribution.

Obligations settled through lawful recourses against the client.

It is commanded by law/plan with Credit Bureau to give the data of every such client to such organizations. A proviso with this impact has been incorporated into the Loan Agreement looking for the clients agree to impart data on his advance to Credit Bureaus.