Indian School Finance Company Private Limited (hereinafter written as Company) is a Non-Banking Finance Company registered with Reserve Bank of India (“RBI”) and is in the business of lending to the Private schools for their infrastructural requirements. Pursuant to new guidelines on “Fair Practice Code for NBFCs” issued by RBI on February 18, 2013, the company has revised the Fair Practice Code and the Board of directors in their meeting held on 8th March’13 have revised the Fair Practice codes of the Company.
Repossession of vehicles The Company has a built in re-possession clause in the contract/loan agreement with the borrower which is legally enforceable. To ensure transparency, the terms and conditions of the contract/loan agreement contains provisions regarding: (a) notice period before taking possession; (b) circumstances under which the notice period can be waived; (c) the procedure for taking possession of the security; (d) a provision regarding final chance to be given to the borrower for repayment of loan before the sale / auction of the property; (e) the procedure for giving repossession to the borrower and (f) the procedure for sale / auction of the property.
The company aims to provide best customer service and is consistently striving on creating a robust and efficient customer service platform. If the customers have any issues or wish to register a complaint, they can reach us at any of the following:
STEP 1: The customer can call us and log his grievances at: +91 040 6650 5000.
STEP 2: Customers can also write their grievances at e mail ID: firstname.lastname@example.org
STEP 3: Customers can also write to:Mr Ankur Aggarwal,
Chief Operating Officer,
Indian School Finance Company Pvt Ltd,
8-2-269/2/52, Plot No 52, Sagar Society, Road No. 2,Banjara Hills, Hyderabad - 500034.
Escalation: If the complaint of the customer is not redressed within 1 month from the lodging of complaint with company, the customer may appeal to the Regional office of Reserve Bank of India at following address Office In charge, Department of Non Banking Supervision, 6-1-56, Secretariat Road, Saifabad, Hyderabad-500004, Phone: 040-23241270, Email:-email@example.com
A periodical review of the Fair Practices Code and the functioning of the grievances redressal mechanism at various levels of management would be undertaken by the Company. The Company shall abide by this Fair Practices Code following the spirit of the Code and in the manner it may be applicable to its business.
The Company shall put the above Fair Practices Code outlined hereinabove on its web site, for the information of various stakeholders. The Company would also review and refine the Code, as may be required periodically –based on its own experience and fresh guidelines, if any, to be issued by the Reserve Bank of India in this regard.
Indian School Finance Company Private Limited will follow the following internal guiding principles and interest rate model for determining Interest rate, processing fees and other charges to our customers, as laid out by the board the Indian School Finance Company. ISFC will apply best industry practices so long as such practice does not conflict with or violate RBI guidelines.The policy of ISFC for determining Interest Rates, Processing and Other Charges is as follows:
The interest rate models, benchmark prime lending rate (BPLR) and other charges applicable shall be reviewed by the board periodically.