6 Collection of Dues
Whenever we give loans, we will explain to you the repayment process by
way of amount, tenure and periodicity of repayment. However if you do not adhere to
repayment schedule, a defined process in accordance with the laws of the land will be
followed for recovery of dues. The process will involve reminding you by sending you
notice or by making personal visits and/ or repossession of security if any.
Our collection policy is built on courtesy, fair treatment and
persuasion. We believe in fostering customer confidence and long-term relationship. Our
staff or any person authorized to represent us in collection of dues or/and security
repossession will identify himself/herself and display the authority letter issued by us
and upon request display(ing) to you his/ her identity card issued by the bank or under
authority of the bank. We will provide you with all the information regarding dues and
will endeavor to give sufficient notice for payment of dues.
All the members of the staff or any person authorised to represent our
bank in collection or/and security repossession would follow the guidelines set out below:
You would be contacted ordinarily at the place of your choice and in
the absence of any specified place at the place of your residence and if unavailable at your
residence, at the place of business/occupation.
Identity and authority to represent would be made known to you at the
first instance.
Your privacy would be respected.
Interaction with you would be in a civil manner
Normally our representatives will contact you between 0700 hrs and 1900
hrs, unless the special circumstances of your business or occupation require otherwise.
Your requests to avoid calls at a particular time or at a particular
place would be honored as far as possible.
Time and number of calls and contents of conversation would be
documented.
All assistance would be given to resolve disputes or differences
regarding dues in a mutually acceptable and in an orderly manner.
During visits to your place for dues collection, decency and decorum
would be maintained.
Inappropriate occasions such as bereavement in the family or such other
calamitous occasions would be avoided for making calls/visits to collect dues.
6.1 Security Repossession Policy Statement:
We will follow a security repossesion policy in consonance with the law. A copy of the
policy will be made available on request.
top |
