Interest Rate
Reserve Bank of India (RBI) vide its Circular DNBS / PD / CC No. 95/ 03.05.002/ 2006-07 dated May 24, 2007 advised Non Banking Finance Companies (NBFC’s) lay out appropriate internal principles and procedures in determining interest rates, processing and other charges. This was reiterated vide RBI’s circular DNBS (PD) C.C. No. 133 / 03.10.001/ 2008-09 January 2, 2009 and DNBS.CC.PD.No.320/03.10.01/2012-13 dated February 18, 2013.
Keeping in view the RBI’s guidelines as cited above, and the good governance practices, the following internal guidelines, policies, procedures and interest rate policy have been adopted by the Company for its lending business.