LTCV Credit Private Limited
Company Details:
This Fair Practices Code has been prepared in compliance with the "Guidelines on Fair Practices Code for NBFCs" issued by the Reserve Bank of India and aims to provide its borrowers an effective overview of the practices followed by the Company and to enable borrowers to take informed decisions in respect of the financial facilities and services offered by the Company. The Code covers the general principles on adequate disclosures on the terms and conditions of the loan and the procedures to be followed when dealing with the borrowers. The Code applies to all categories of products and services offered by LTCV Credit Private Limited ("the Company").
The following are the primary objectives of this Code:
All communications to the borrower shall be in a simple language so that it is easily understood by the borrower.
Loan Application Forms shall include all necessary information, which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the borrower. The loan application form shall also indicate all the documents that are required to be submitted with the application form.
The Company would verify the loan applications within a reasonable period of time and if additional details / documents are required, it would intimate the borrowers immediately.
The Company would ensure that there is a proper assessment of credit application made by borrowers. The assessment would be in line with the Company's loan policies and SOP.
The Company shall convey in writing to the borrower in a simple language as understood by the borrower by means of a sanction letter, the amount of loan sanctioned along with the terms and conditions including annualized rate of interest and method of application thereof.
Penal charges, if charged, for non-compliance of material terms and conditions of loan contract by the borrower shall be treated as 'penal charges' and shall not be levied in the form of 'penal interest'.
Penal Charges shall not be capitalized.
There shall be no additional component to the interest.
In addition to website disclosure, if any, the quantum and reason for penal charges shall be clearly disclosed to the customers in the loan agreement/KFS.
For reminders for non-compliance of material terms and conditions of loan, penal charges and reason shall be communicated.
The Company would ensure timely disbursement of loans sanctioned in conformity with the terms and conditions governing such sanction.
The Company shall keep the acceptance of these terms and conditions by the borrower on its record.
The Company will furnish a copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement to all the borrowers at the time of disbursement of loans.
The Company shall give notice to the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. The Company shall ensure that changes in interest rates and charges are effected only prospectively. The Loan Agreement will contain necessary provisions to this effect.
Decision to recall / accelerate payment or performance under the agreement shall be in consonance with the loan agreement.
The Company shall release all securities on repayment of all dues or on realization of the outstanding amount of loan, subject to any legitimate right or lien for any other claim the Company may have against the borrower. If such right of set off is to be exercised, the borrower shall be given notice about the same with full particulars about the remaining claims and the conditions under which the Company is entitled to retain the securities till the relevant claim is settled/paid.
The Company shall provide the customers with all the information regarding their dues and provide reasonable time for payment of the same.
The Company shall while protecting its interest adopt reasonable and lawful measures to recover its dues from defaulting customers, including use of persuasive methods for the purpose of collection of its dues.
The Company shall ensure that the staff is adequately trained to deal with the customers in an appropriate manner.
The Company would not discriminate on grounds of sex, caste and religion in the matter of lending. However, this does not preclude the Company from participating in credit-linked schemes framed for weaker sections of the society.
The Board of Directors of NBFC has laid down the appropriate grievance redressal mechanism within the organization to resolve disputes arising in this regard. Such a mechanism would ensure that all disputes arising out of the decisions of lending institutions' functionaries are heard and disposed of at least at the next higher level. A report on the compliance of Fair Practices Code and the functioning of the grievance's redressal mechanism at various levels of management would be submitted to the Board periodically.
The company shall put up the Fair Practice Code on its website in a simple language, for the information of various stakeholders.
The Company shall charge interest from the date of actual disbursement of the funds to the borrower and not from the date of sanction of loan or date of execution of loan agreement, if they are predated to the disbursement date.
In the case of disbursal or repayment of loans during the course of the month, the Company shall charge interest only for the period for which the loan was outstanding during the month and not for the entire month.
Unless authorized by the customer, LTCV will treat all personal information as private and confidential.
Unless authorized by the customer, we will not reveal transaction details to any other entity other than in the following exceptional cases:
If we have to provide the information by statutory or regulatory laws
If there is a duty to the public to reveal this information
If our interest requires us to provide this information (e.g., fraud prevention) to Banks / Financial Institutions / Our Group and Associate Companies.
We will not use this reason for giving information about customers to anyone else for marketing purposes.
The escalation matrix in respect of Grievance Redressal shall also be displayed at all the offices of the company as follows:
1. Raised a complaint through the Equall App (Google Play) or our website. Once your complaint is raised, our support team will work with the concerned department to solve and respond.
2. Grievances, if not addressed at the First Level of escalation as mentioned above shall be addressed to the Grievance Redressal Officer (GRO) of the company: Grievance Redressal Officer, LTCV Credit Private Limited, Corporate Office, No.10, 1st Floor, 6th Main, 8th B Cross, Jeevan Bheema Nagar, Bangalore, KA 560075. or by email to grievance@ltcv.credit
3. If still unresolved, this final escalation is to the Nodal Officer: nodal.officer@ltcv.credit
A review of the compliance of the Fair Practices Code including the grievances redressal mechanism would be done by the Management regularly and a consolidated report will be submitted to the Board of Directors periodically.
Date of last modification of this policy: August 2025