Fair Practices Code
Mahalaxmi Capital Group ("the Company") is committed to the highest standards of transparency, fairness, professionalism and ethical conduct in all our dealings with customers, Lending Partners, employees and regulators. This Fair Practices Code ("Code") is adopted in line with the Reserve Bank of India''s Master Directions on fair practices for NBFCs and digital lenders.1. Key Commitments to Customersa. We will treat every customer with courtesy, respect and dignity, without discrimination on the basis of gender, caste, religion, language, region or economic status.b. All information about our products, services, fees, interest rates, charges and terms will be communicated in a clear, simple and non-misleading manner, in English and the local regional language where required.c. We will provide you with the Sanction Letter, Loan Agreement and a Key Facts Statement (KFS) before you sign, clearly stating the loan amount, interest rate (APR), tenure, EMI, all fees, default charges, and any other material terms.d. We will obtain your explicit consent before (i) sharing your information with any third party, (ii) deducting any amount from your account, and (iii) contacting you through any channel for marketing or recovery.e. We will never engage in coercive recovery practices, harassment, intimidation, or contacting you at unreasonable hours. Recovery, if any, will be conducted in line with the RBI Fair Practices Code and the Code of Conduct on outsourced recovery.2. Disclosure & TransparencyWe will disclose:• Interest rate (per annum / per month) and the total cost of the loan (APR);• All fees and charges — processing fee, documentation fee, insurance premium, stamp duty, GST, foreclosure charges, bounce charges, late-payment fees — with clear heads and amounts;• Cooling-off / look-up period (where applicable) during which the customer may exit the loan without penalty;• Penalty interest, default charges and the circumstances in which they apply;• Grievance redressal mechanism and contact details of the Grievance Officer;• The name of the Lending Partner, the lender''s RBI registration, and the fact that the lender is the final decision-maker for the loan.3. Loan Appraisal & Sanctiona. All applications will be processed within the timelines communicated to the customer;b. Loan appraisal will be based on objective, transparent and credit-related criteria;c. We will not discriminate on any prohibited ground while processing an application;d. If the application is rejected, we will inform the customer in writing or via SMS / email, stating the broad reason and the customer''s right to seek clarification.4. Disbursementa. The loan amount will be disbursed directly to your bank account, the seller / builder, or as per the agreed end-use;b. We will provide a disbursement confirmation along with the amortisation schedule, EMI amount and the due date;c. We will not disburse cash under any circumstances.5. Post-Disbursal Servicea. We will provide accurate statements of account, receipts for every payment, and a clear amortisation schedule;b. Any change in interest rate, fees, tenure or terms will be communicated to you in advance, with a fresh KFS where required;c. Prepayment / foreclosure will be allowed as per the lender''s policy and applicable RBI guidelines, with applicable charges disclosed upfront;d. We will respond to all customer queries and complaints within the timelines set out in our Grievance Redressal Policy.6. Digital Lending-Specific Practicesa. We follow the RBI Digital Lending Guidelines including:• All lending transactions are carried out only through a Digital Lending App approved by the lender;• We obtain your explicit consent before accessing your camera, microphone, contacts, location, files or SMS;• You have the right to revoke consent at any time;• We issue a Key Facts Statement (KFS) before the loan agreement and an annual account statement free of cost;• We do not charge any undisclosed fees;• We do not indulge in aggressive recovery or harassment.b. The first disbursal will be made only to your own bank account, and any subsequent disbursals will also be to verified accounts only.7. Responsible Marketinga. We will not advertise misleading interest rates, hidden charges, or unattainable offers;b. All marketing material will carry the name of the Company and the relevant Lending Partner;c. We will not offer loans to customers who are clearly ineligible or who do not have the capacity to repay;d. We will not make unsolicited calls or messages to DNC (Do-Not-Call) registered numbers.8. Conflict of Interesta. We will not act on both sides of a transaction (i.e., we will not represent both the customer and the lender in a way that creates a conflict);b. We will not accept any undisclosed commission, fee or inducement from any party;c. Employees are required to declare and avoid situations that may lead to a conflict of interest.9. Training & Compliancea. All employees and outsourced agents undergo regular training on this Code, RBI regulations, KYC / AML, data privacy, and ethical conduct;b. We have a Compliance Officer who reviews adherence to this Code and reports to the Board;c. The Code is reviewed at least annually and updated as required.10. Reporting ConcernsIf you observe any violation of this Code, please write to our Grievance Officer or to the Compliance Officer. All good-faith reports will be kept confidential, and no retaliation will be tolerated.
