Fair Practice Code Policy
Konark Finserv —
Fair Practice Code Policy
The Fair Practice Code (FPC) of Konark Finserv outlines the standards and principles we follow while providing digital loan services. This policy reflects our commitment to transparent, ethical, and responsible lending practices in accordance with applicable regulatory guidelines and industry standards.
1. Purpose of the Fair Practice Code
- Promote fairness and transparency in all lending activities.
- Ensure customers receive clear and accurate information.
- Encourage responsible lending and ethical business practices.
- Strengthen trust between Konark Finserv and its customers.
2. Loan Application & Processing
Konark Finserv ensures that loan application procedures remain simple, transparent, and accessible.
- Loan applications will be acknowledged upon submission.
- Customers will receive clear information about processing timelines.
- Eligibility, loan amount, and repayment terms will be communicated before approval.
3. Transparency in Loan Terms
Konark Finserv believes that customers should always have full visibility.
Interest Rates
The applicable interest rate will be clearly disclosed.
Charges & Fees
All applicable processing fees and charges will be communicated upfront.
Loan Agreement
Customers will receive the complete loan agreement.
4. Responsible Marketing & Communication
Konark Finserv ensures all marketing communications are accurate and transparent.
5. Recovery & Collection Practices
Konark Finserv follows ethical recovery procedures.
- No harassment or intimidation will be used.
- Customers will receive reminders before action.
- All recovery actions comply with laws.
6. Customer Service & Grievance Redressal
Konark Finserv has a grievance redressal mechanism.
- Complaints will be resolved within reasonable time.
- Customers may escalate unresolved issues.
- Continuous service improvement is ensured.
7. Equal & Non-Discriminatory Practices
Konark Finserv does not discriminate based on religion, gender, caste, or background.
8. Policy Review & Updates
This Fair Practice Code may be reviewed periodically.