description Nil Levy of Penalty

It is hereby declared that there has never been any levy of any penalty on Godrej Finance Limited by the Reserve Bank Of India (RBI) or by any other regulatory or statutory body.

description Disclosures
description Regulatory Circulars

 

 

 

  • (a) Ease of Doing Investments- Non-submission of ‘Choice of Nomination’
    (i) Doing away with freezing of Demat Accounts and Mutual Fund Folios for existing investors;
    (ii) To remove freeze on payment of corporate benefits and service of physical folios;
    (b) Only 3 fields to be provided mandatorily for updating Nomination Details dated June 10, 2024
  • Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper dated May 22, 2024
  • Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper dated May 21, 2024
  • Model Tripartite Agreement between the existing share transfer agent, the new share transfer agent and the listed Entity
  • Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper dated July 29, 2022 (Updated as on June 30, 2023)
  • Master Circular2 for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper dated August 10, 2021 (Updated as on July 7, 2023)
  • SEBI Circular for Online Resolution of Disputes in the Indian Securities Market dated July 31, 2023
  • Corrigendum cum Amendment to Circular dated July 31, 2023 on Online Resolution of Disputes in the Indian Securities Market
  • SEBI Circular dated November 8, 2023- Procedural Framework for dealing with unclaimed amounts lying with entities having listed non-convertible securities and manner of claiming such amounts by Investors
  •  

     

     

     

     

     

    description Link to online dispute resolution portal

      In an attempt to strengthen the investor grievance redressal mechanism in the securities market, the Securities and Exchange Board of India has issued the circulars dated July 31, 2023 and August 4, 2023 providing guidelines for "Online Resolution of Disputes in the Indian Securities Market.

       

      The contents of the circular are self-explanatory in nature.

       

      The link to access the ODR Portal is: SMARTODR"

    description Terms and Conditions
    I. APPLICABILITY
     

    These Terms & Conditions are applicable to all marketing and promotional material (Content) issued by GFL in any form and media, physical or digital or any other platform. This shall be considered a General Disclaimer for all the Content.

    Please read the Terms and Conditions (“Terms”) provided below carefully as they will govern conduct, rights, responsibility, and obligations of a User with regard to the website of Godrej Finance Limited (“GFL”).

     

    II. INTRODUCTION
     

    Godrej Finance Limited is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI) and engaged in the business of providing finance solutions to eligible applicants. For acquainting prospective borrowers about its brand, products, and offerings GFL has issued various types and kinds of material on its website.

     

    III. RBI DISCLAIMER
     

    “Godrej Finance Limited” is having a valid Certificate of Registration (Without permission to accept Public Deposits) dated 03rd December 2021 issued by the Reserve Bank of India. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the Company or for the correctness of any statements or representations made or opinions expressed by the Company and for repayment of deposits/discharge of liabilities by GFL.

     

    IV. DEFINITIONS
     

    Contents mean and include any material, information, advisory, calculators, FAQs, data or graphs, money market movements, interactive media, marketing material, news items, texts, graphics, links etc., whether belonging to GFL or to its associates, partners and other group entities, which is available either directly or through marketing or Promotional Material of GFL, displayed, hosted on the Website or on any other website or available in print / digital, audio, video or any other media anywhere.

     

    Consumer/User refers to the person (s) who is/are viewing/exposed to the Content through any media form or manner. In the document all references to “You”, “Us”, “Me”, “We” and “I” shall be to Consumer/User.

     

    Website shall refer to any website on which Content is being displayed/hosted.

     

    V. DECLARATION & USE OF CONTENT
     
    • I have willingly and with my consent agreed to visit this Website.
    • I/We understand that GFL uses a third party offering for Website and GFL does not represent them or assures their service or any performance standard and in case of any dispute we would have to approach them with no recourse to GFL
     
    • I/We understand that the financial products / services provided through Website on acceptance will lead creation of financial liability towards GFL.
     
    • I/We agree and understand that GFL may collect information provided by me/ us during visit to Website and I/ We shall not dispute this retention.
     
    • I/We agree and declare that we shall keep all details, documents and media or any other information related to the Website as confidential and will take prior permission from GFL before sharing it with any third party
     
    • The user acknowledges that in order to fully access the Website he would require an active internet connection which can be Wi-Fi or the Local Area Network (LAN) connection. GHF does not assume any responsibility/liability if the User is not able to go through the Website due to absence/ insufficiency of the required internet connection.
     
    • GFL will not be concerned with any dispute between the user and the Internet Service Provider and/or any third party providing the internet connection or any other services responsible for running the website and will not be a party to same.
     
    • The User shall be responsible for obtaining and maintaining all computer hardware and other equipment needed for access to this Website.

     

    VI. DECLARATION FOR MARKETING MATERIAL
     
    • I/We understand that hosting of any residential / non-residential Project details / any other product offering or branding in Website is not endorsement of it by GFL and its responsibility of the User to ascertain its details and its selection is on risk and judgement of User.
     
    • Content shall not be regarded as an offer, solicitation, invitation, advice or recommendation to buy/sell financial products of GFL or any of its group entities.
     
    • Content is designed for informative purposes only. The User is advised to go through Finance Documents before taking any product or service from GFL.
     
    • Decision to offer any Product to Consumer shall be solely of GFL.
     
    • Periodicity of any offer shall be decided by the GFL, and any offer declared may be closed without further notice.
     
    • The User acknowledges that all rates, charges and fees quoted / stated for various financial products and schemes and interest rates cited as examples of rates which may be in effect from time to time are indicative rates only and are subject to change at any time at the sole discretion of GFL and its group entities as the case may be, and applicable Indian laws. These charges, fees and rates may change depending upon the assessment made by GFL in individual cases upon receiving necessary information and documents.
     
    • You are advised to verify any information / details regarding any project or site including RERA details from the official sources.
     
    • GFL shall be liable and responsible only for the Content which it has issued in its name and in event, the logo, branding name or any other determinative or identifier related to GFL is used by any other entity, with or without GFL permission, for any purpose including for offering any loan through any partnership or otherwise, the Consumer is advised to review the veracity of claim before making any decision. No liability and responsibility shall accrue to GFL.
    • Any Content which conflicts with any provision of law or regulation shall be considered to be null and void ab initio
     
    • Adjectives are to be understood in a broader term and not literally. Easy to understand language has been used for delivery of messages and difficult / industry parlance has been avoided. In case of doubt, please contact branch or contact centre.

     

    VII. INTELLECTUAL PROPERTY
     

    The Content belongs to GFL and cannot be used by Consumer in any manner without prior express written permission of GFL. Hosting of Content on a public forum does not dilute the ownership of GFL.

     

    VIII. NO REPRESENTATION OR WARRANTY 
     

    No information sent to any User through the Content shall constitute any representation, warranty by GFL regarding creditworthiness, financial performance or prospects, solvency, of any User or any other legal entity.

     

    GFL may at any time update, remove, replace, edit, alter any information in whole or in part forming part of Content & shall not be held responsible for any matters arising out of said.

     

    In the event, the Website contains links to other Websites of affiliate or group company of GFL, the content, products, services offered on such linked websites, or any quality of the products/services are not endorsed, verified, or monitored by GFL.

     

    IX. DAMAGES & LIMITATION OF LIABILITY
     

    In no event shall GFL, its Directors, employees or its affiliates be liable for any direct, indirect punitive, incidental, special, consequential damages of any nature whatsoever arising or connected with use or performance of Website including but not limited to any loss, damage, expense arising from any defect, error, omission, interruption, fault, mistake or inaccuracy.

     

    X. AMENDMENT
     

    GFL reserves the right to change the information provided on or via Content, at any time and without notice. GFL shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information on this Content.

     

    XI. GOVERNING LAW
     

    The Website and terms and conditions shall be governed by and construed in accordance with applicable laws of India. All disputes arising out of or in connection with these terms and conditions shall be submitted to the exclusive jurisdiction of the Courts of Mumbai. 

     

    description Terms & Conditions of Digital Journey

    Please read the Terms and Conditions provided below carefully as they will govern the “Instant Sanction” & “Digital Journey” which an User will have with Godrej Finance Limited (“GFL”) or ("Company")

     

    Definitions

     

    Acceptance is acceptance to any type of terms & conditions which are applicable to usage of the Digital Journey. For application form and sanction letter or offering of any kind which is made to the User by the Company through any of the mode (a) OTP, (b) email acceptance, (c) e-sign or (d) any other mode introduced by Company.


    Agents, all co-applicant/s and main applicant/s are agents of each other and capable of providing consent / take any other action on their behalf.

     

    Co-Applicant is an applicant whose name comes post Main Applicant in the order of applicants. However, the order of name does not impact either the liability or responsibility of the User. A co-applicant will act as an agent of main applicant. There may be multiple co-applicants. Main applicant and co-applicants are together referred to as applicants. Acceptance by the Applicant shall be deemed acceptance by the Co-Applicant(s)

     

    Content means and includes any material, information, advisory, calculators, FAQs, data, or graphs, money market movements, interactive media, marketing material, news items, texts, graphics, links etc, whether or not belonging to GFL, which is available hosted, displayed either directly or through a link or pathway on Website.

     

    Digital Journey is a process hosted on digital media, which may or may not have support of (a) in-person Company employee / representative, (b) tele-support by GFL employee / representative or (c) co-browsing chat bot, through which GFL allows User to participate in its Risk Qualification Process wherein he may be offered to opt for different loan products / other products by GFL subject to User qualifying to the internal policies of GFL. In the event, User qualifies, a Sanction Letter shall be shared with them, however, acceptance of Sanction Letter is the sole decision of User.

     

    Digital Journey: Digital Journey together with Instant Sanction is referred to as Digital Journey.

     

    E-Sign is an IT enabled facility provided with the help of independent Telecom Companies which is one of the facilities used by the User to give their acceptance to the Company.

     

    Godrej Finance Limited is a Non Banking Financial Company (NBFC) registered with Reserve Bank of India. It may be referred to as either GFL or Company interchangeably.

     

    Instant Sanction is a process which may or may not have support of (a) in-person GFL employee / representative / agent, (b) tele-support by GFL employee / representative or (c) co-browsing chat bot, wherein GFL will convey to the User sanctioned amount which will be an in-principle non-binding sanction on either party basis the limited information shared by the customer and qualifies him to participate further in Digital Journey / normal loan process leading to full appraisal of his credit eligibility.

     

    Main Applicant is the applicant whose name comes first in the order of applicants. However, the order of name does not impact either the liability or responsibility of the User. A main applicant will act as an agent of co-applicant. Main applicant and co-applicants are together referred to as applicants.

     

    OTP or One Time Password is a SMS based confirmation facility provided with the help of independent Telecom Companies which is one of the facilities used by the User to give their acceptance to the Company.

     

    Risk Qualification Process is the internal credit process of the company which is proprietary to the Company which is to be decided solely by the company.

     

    Sanction Letter is a document containing terms and conditions specific to the grant of loan amount to the User.

     

    User refers to the Main Applicant who is submitting its Co-Applicant(s) personal information with its/his/their own consent to GFL for the purpose of participating in Instant Sanction & Digital Journey and who shall be bound by the Terms and Conditions mentioned herein. All the applicants working either individually or together for going through Instant Sanction or Digital Journey will be referred collectively as User. In the document all reference to “You”, “Us”, “Me”, “We” and “I” shall be to User.

     

    Introduction

     

    This is a binding arrangement between you, the user, and GFL, establishing the terms and conditions under which the Digital Journey may be undertaken by the User. By accessing, through any means and media this Digital Journey, you agree to be bound irrevocably by these terms and conditions. In the event of any conflict between the terms and conditions of specific products or services and terms and conditions of Digital Journey, the conditions specific to such products or services shall prevail.

     

    User Declaration

     

    I declare that I having willingly and with my consent agreed to be part of the “Digital Experience” and that I will share all the particulars and information as is required in this Digital Experience in truthful, accurate and complete manner and understand that they shall form the basis of any decision bythe Company to consider me for grant of any loan / credit facility / other offering which GFL may decide to grant me.


    I / we declare that in event an application is applied by multiple users then consent by Main applicant to use the information shall be deemed to be consent by all.

     

    • KYC checks and / or KYC processes such as Video KYC, Aadhar offline verification or any other approved KYC mechanism
    • Obtaining credit history from Credit Information Companies
    • Obtaining / conducting credit verification checks
    • Accessing my Bank records
    • Verifying my contact details
    • Employment verification
    • Accessing and procuring data from databases maintained by statutory or other authorities constituted by law
    • Authentication / verification of documents submitted by me or which comes into possession of company during Risk Qualification Process or
    • Any other details submitted during the journey, and
    • Any other check which GFL may deem fit and necessary

     

    I/We hereby are aware and declare that in event information including but not limited to as produced below is required from any third-party website whether regulatory or otherwise for completion of the Digital Journey process, the Company may access data of the User through such third-party website. However, the Company shall not be liable for any data,information displayed or shared or acts, deeds of such third party or information provided by the Users.

     

    I /we understand that hosting of any Content, project details/any other product offering or branding on Website is not endorsement of it by GFL and its responsibility of the User to ascertain its details and its selection is on risk and judgement of User.

     

    I / we understand that we may have to use any third party offering during this Digital Journey process and GFL does not represent them or assures their service or any performance standard and in case of any dispute we would have to approach them with no recourse to GFL.

     

    I / we understand that the financial products / services provided through Digital Journey on acceptance will lead creation of financial liability towards GFL.

     

    I/We confirm that in event we approach Company through a third party such as a DSA/Connector/ Digital Agent (“Agents”), we authorize such Agents to provide our information to the Company and/or keep track of the Application and/or perform such acts related to the Application on our behalf. We declare that sharing our information with such Agents shall be deemed that we have provided consent to them to share it onwards with Company for processing of loan application.We are aware that the Company may based on such consent provided to Agent proceed to verify, evaluate Application or eligibility of the Applicants.

     

    I/We agree and understand that GFL reserves its right to retain the documents / information provided by me/ us even in case I / we do not qualify under the Risk Qualification Process and I/ We shall not dispute this retention.

     

    I/We agree and declare that we shall keep all details, documents and media or any other information related to the Digital Journey process as confidential and will take prior permission from GFL before sharing it with any third party.

     

    The user acknowledges that in order to fully access the Digital Journey he would require an active internet connection which can be Wi-Fi or the Local Area Network (LAN) connection. GFL does not assume any responsibility/liability if the User is not able to go through the Digital Journey due to absence/ insufficiency of the required internet connection.

     

    GFL will not be concerned with any dispute between the user and the Internet Service Provider and/or any third party providing the internet connection or any other services responsible to run the website and will not be a party to same.

     

    The User acknowledges that all rates, charges and fees quoted / stated for various financial products and schemes and interest rates cited as examples of rates which may be in effect from time to time are indicative rates only and are subject to change at any time at the sole discretion of GFL and its group entities as the case may be, and applicable Indian laws. These charges, fees and rates may change depending upon the assessment made by GFL in individual cases upon receiving necessary information and documents.

     

    I/We understand that the Company may undertake account ownership verification including but not limited to fraud prevention, verifying identity, credit decisions and for money laundering prevention or for such other matters as may be required in relation to providing a loan facility.

     

    The user shall be responsible in obtaining and maintaining all computer hardware and other equipment needed for access to and use this Digital Journey.

     

    I / We agree that the Digital Journey shall be governed by the rules, guidelines, directives etc. issued by the Reserve Bank of India (RBI) or any other competent authority.

     

    Consent for providing information

     

    By providing your personal details and consenting to these Terms, you have consented to the Company or its Agents as the case may be to fetch your credit information from any of the four Credit Information Companies- Credit Information Bureau (India) Ltd, Equifax Credit Information Services Pvt. Ltd, Experian Credit Information Co. of India Pvt. Ltd, and CRIF High Mark Credit Information Services Pvt. Ltd. (collectively known as “CICs”).

    You understand that in order to process, verify your application, you have authorized the Company or Agents, to obtain your Credit Information from CIC.

     

    Use of Information and Materials

     

    You are advised to exercise due caution and/or seek independent advice before availing any facility or entering into any financial obligation based on the Content you will come across in Digital Journey. The Content which you will receive in Digital Journey or other terms are provided on an “as is”, “as available” basis and are protected by copyright. You cannot distribute the Content to others without the express written consent of GFL. You cannot copy, download, publish, distribute or reproduce any of the Content which you will receive in Digital Journey in any form without prior permission of GFL.

     

    The Content which you will receive in Digital Journey should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other instrument or financial products / schemes of GFL, or any of its group entities. Use of the products or services described on Digital Journey may not be permitted in some countries however, for more clarity, please check, with your local regulator or authority before requesting further information on such products/ services. Products and Services are available only at the discretion of GFL and its group entities, subject to the individual contractual terms and conditions of products and services on which they are offered and such products and services may be withdrawn or amended at any time without notice. The full range of products or services may not be available in all locations.

     

    The user acknowledges and declares that Third parties assistance, by both User and GFL, may be required for using the Digital Journey and GFL does not provide any assurance or warranty for the standard or continuance of their service.

     

    Account ownership verification

     

    The Company/affiliatesmay perform anaccount ownership verification on the User either by itself or appointing a third party/ies to confirm the following:

     

    1. The User/s bank account exists

    2. To verify account holder’s name & other details

    3. The bank account is open to accept credits.

    4. The bank account is neither frozen nor closed.

     

    The Company shall further collect and validate the Bank Account information provided by the User. The User authorizes the Company to satisfy itself as to the ownership of such Bank Account information by performing a validation, through the transfer of a small amount into the users’ bank account, or any other mechanism available, including requiring the user to provide a valid bank statement for verifying validity of the bank account. However, the User agrees and understands that the burden to provide genuine bank account details lies with the User and the User should necessarily be a bank account holder in the bank account information provided by them.

     

    No Representation or Warranty

     

    No information sent to any user through this Digital Journey shall constitute any representation or warranty by GFL regarding the credit-worthiness, financial performance or prospects, solvency, or viability of any company or other legal entity or the business carried on by such entity.

     

    All information on this website is being provided under the condition and understanding that the same is not being interpreted or relied on as legal, accounting, tax, financial, investment or other professional advice, or as advice on specific facts or matters. GFL may at any time (without being obliged to do so) update, edit, alter and or remove any information in whole or in part that may be available on this Digital Journey process and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Nothing contained herein is to be construed as a recommendation to use any product or process, and GFL makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. The User is expected to keep abreast of any changes made in this website and the information available on it on a regular basis and GFL and its group entities undertake no responsibility about advising the user/clients about any such changes.

     

    GFL makes no warranties as to the confidentiality or security of the information or messages whether personal or otherwise received through Digital Journey unless otherwise specified expressly and bound through applicable law.

     

    Though GFL will endeavour to ensure that information contained on this Digital Journey Process is obtained from sources which, it considers, are reliable, GFL and its subsidiaries do not warrant such information’s completeness or accuracy.

     

    Though reasonable efforts are maintained by GFL to ensure that Digital Journey process is free from all viruses no representation is being made that it is free from all defects and User is accessing it at his own risk.

     

    Limitation of Liability

     

    GFL, its directors and employees accept no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential, punitive, or exemplary loss, damage or expenses) from your use of this Digital Journey process, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, omission, interruption, imperfection, fault, mistake or inaccuracy, its Contents or associated services, or due to any inaccessibility of this Digital Journey process or any part thereof or any contents or associated services even if the Users are advised of the possibility of such damages, losses or expenses.

     

    Acceptance

     

    As part of Digital Journey Process the user may be asked to sign the documents such as Application form, Sanction letter etc with the aid of OTP, E-sign facility, email acceptance or any other which will lead to acceptance of the terms and is equal to the acceptance of documents in written form. Users may be asked to input their aadhar number for e-sign and share OTP for e-sign. The company does not store the AADHAR number or OTP. A copy of the signed document will be shared with the User for his record.

     

    As Co-applicant (s) and Main applicant (s) are agents of each other and capable of providing consent / take other action on behalf of them, consent through any of the mode by any of them will be deemed as consent/acceptance by all.

     

    Intellectual Property Rights

     

    All rights relating to this Digital Journey process as well as its functionalities are the exclusive property of Godrej Finance Limited (particularly including but not limited to copyrights, trademarks, source code, patents as well as any other intellectual property right). All the information provided on or via this Digital Journey process (including all texts, graphics, design or logos) shall be the intellectual property of GFL and/ or its group entities. You agree not to copy, forward, download or share content without obtaining the necessary rights or permissions to do so. You also agree not to abuse the use of this Digital Journey Process.

     

    In the event any content on the Digital Journey process or any intellectual property of GFL are copied / used by the user for any profit or non-profit venture then the User shall be liable to pay for damages as set out by GFL.

     

    Linked Websites

     

    This Digital Journey Process may contain links to other websites of affiliate companies or group entities of GFL. This Digital Journey Process may also contains links to external websites, having further linked websites, controlled or offered by third parties (Non-Affiliates of GFL), in order to help you find relevant websites, services and/or products which may be of interest to you, quickly and easily. The contents displayed or products / services offered on such linked websites or any quality of the products/ services are not endorsed, verified or monitored by GFL. GFL is also not responsible for the owners or operators of such external links or websites or for any products or services they supply or for the contents of their websites and do not give or enter into any conditions, warranties, express or implied; or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external websites to which this website includes a link infringes the intellectual property rights of any third party).

     

    RBI Disclaimer

     

    “Godrej Finance Limited (“GFL”) is having a valid Certificate of Registration (Without Permission to accept Public Deposits) dated 18.03.1998 issued by the Reserve Bank of India. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits / discharge of the liabilities by GFL”.

     

    Governing Law

     

    This website and the terms and conditions shall be governed by and construed in accordance with all applicable laws of India, unless stated otherwise. All disputes arising out of or in connection with these terms and conditions or use of this website shall be submitted to the exclusive jurisdiction of the courts of Mumbai. The Laws of India shall apply.

     

    Legal Proceedings

     

    You confirm that you have/had no insolvency proceedings against you nor have you ever been adjudicated insolvent by any court or other authority.

     

    Amendments

     

    GFL reserves the right to change the information provided on or via this Digital Journey Process, including these terms and conditions or to charge for its services, at any time and without notice. It is recommended that you periodically review the information provided on or via this Digital Journey Process, including these terms and conditions, periodically for changes. GFL shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information on this website.

     

    Suspension and cancellation

     

    GFL can at any time, without the need to give a reason, notice or compensation, suspend your ability to use this Digital Journey process. The suspension or cancellation of the licence to use this Digital Journey process will mean that you will no longer have any access to your data, without you having any recourse against GFL or any of its subsidiaries or its affiliates.

     

    Accuracy and correctness of Information

     

    You confirm that any information provided by you or any details shared for the Digital Journey process are correct and you undertake to pass on any modifications to GFL. You shall indemnify and hold GFL harmless against any loss, damage or costs suffered / incurred by GFL as a result erroneous information supplied by you or your authorized Users. Specifically, you are responsible for the confidentiality of any codes, OTP and passwords or any other credentials allowing you to use this Digital Journey process, or browsing through any other third party website or sources and such acts done while accessing the Digital Journey Process whether through a third-party Service Provider/DSA, Connector/ Digital Agent and access to your information as well as this use and this access by any third party, whether or not they are authorised by you. The Company shall not be liable for any acts undertaken in reference to sharing, accessing or providing information.

     

    Communication

     

    You agree that GFL or its group entities or their employees or agents may share all information and details as provided by you in your application in relation to your existing loans and/ or repayment history to any third party including but not limited to its group companies, service providers, banks, financial institutions, credit bureaus, telecommunication companies, statutory bodies etc. for customer verification, personalization of products and services, credit rating, data enrichment, marketing or promotion of the products or services of Godrej Finance Limited or its group entities or of any other service provider.

     

    You agree that you consent to receiving any other information through telephone / e-mail / SMS / WhatsApp or any other electronic / digital medium for marketing purposes from any GFL / its group entities or other service provider even though your name appears in the National Customer Preference Registry (Do Not Disturb Registry). You expressly agree that any such calls/SMS/e-mails/WhatsApp messages or electronic/ digital messages will not cause any inconvenience to you or your family members.

     

    You expressly and irrevocably consent that for any claim against the service providers, GFL or its group entities shall not be liable and your claim on this account shall be against the service providers and/or tele-callers. You agree to the use of WhatsApp or other electronic/ digital media for communication or sharing of information or documents or for sending notices, agree to abide by the terms and conditions of such applications and agree to the risks associated with such applications or sharing of information or issuance of notices through them. Further, you agree that any acceptance of terms & conditions by you through / e-mail/ SMS/WhatsApp or any other electronic/ digital medium will be binding on you.

     

    description Schedule of Charges
    CHARGE DESCRIPTION CHARGE AMOUNT EXCLUSIVE OF GST IN INR
    Processing Fees* Mortgage loan up to 2% of the loan amount,
    Flexi Funds up to 2% of the loan amount,
    Flexible loan up to 3% of the loan amount
    1st Presentation EMI bounce every month 1000
    2nd Presentation EMI bounce every month 1000
    Late Payment Penalty per Month 2% of the total EMI outstanding (principal + interest)
    Repayment Mode (Cheque / NACH) Swap 500
    Foreclosure and Part Pre-payment charges
    Type of Borrower Type of Loan Type of ROI Applicability
    Individual (a) Housing Loans, 
    (b) Personal Loans,
    (c) LAP other than Business purpose
    Floating,
    Semi-fixed (during the period ROI is floating)
    NIL
    Fixed rate of Interest Nil – If paid through own source of funds 
    4% on prepaid amount in case of Balance takeover by any other financial institution
    (a) LAP Business
    (b) Non–Residential Purchase Loans

     

    Floating, Fixed & Semi-fixed Balance Takeover from a bank/ HFC/ NBFC/ any other Financial Institution – 4% for foreclosure on Principal pre-paid
    Self-source – 4%   on Principal pre-paid in case amounts prepaid in a financial year is over 20% of the o/s loan amount.
    Non-Individual Housing Loans Floating,
    Semi-fixed (during the period ROI is floating)
    NIL
    Fixed rate of Interest Nil — If paid through own source of

     

    funds 4% on prepaid amount in case of Balance takeover by any other financial institution
    Any other Any 4% on principal pre-paid
    Individual & Non-Individual LAP Business  and Non -Residential Purchase  Loans(Flexi Funds)  Any Part Pre-payment charges towards limit reduction – 4% of reduction amount Foreclosure - 4% of Withdrawal Limit amount on the date of such foreclosure
    Loan cancellation charges Nil up to 30 calendar days or the 1st EMI due date, whichever is earlier. Post that 1% of principal outstanding.
    Loan cancellation charges Nil up to 30 calendar days or the 1st EMI due date, whichever is earlier. Post that 1% of principal outstanding.
    Physical Statement of Account 500
    Physical Duplicate NOC 500
    Physical Repayment Schedule 500
    List of Documents 1000
    EMI Pick Up 500
    Physical copy of Property Documents 2000
    Charges to issue Loan Foreclosure Letter 500
    Conversion or Switch Charges for LAP Business (Floating to Fixed or Fixed to Floating) Up to 1.5% of the principal outstanding
    Conversion or Switch Charges for LAP Flexi Funds (Floating to Fixed or Fixed to Floating) Up to 2.5% of the withdrawable limit
    Repricing Fee 1% of the Principal Outstanding
    Document Retrieval (per instance) 5000
    Documents Holding Fees**(Charged per month) 1000
    Stamping or Franking On Actuals
    Bank charges on cheque / ECS / NACH bounce On Actuals as charged by customer’s bank

     

    Charges towards Legal/ SARFAESI/ Recovery action On Actuals
    Charges to be paid to CERSAI/ CKYCR As applicable and prescribed by CERSAI/ CKYCR
    Demand draft or pay order re-issuance or cancellation 750
    Other Documents 500
    Miscellaneous Charges On Actuals
    Annual Maintenance Charges (AMC) (for Flexi Funds)

    LAP:

    0.3% (On Sanctioned Limit for 1st year of loan tenor and subsequently on Withdrawal Limit) 

    BL:

    1% (On sanctioned limit for 1st year of loan tenor and subsequently on withdrawal limit) 

    Low Utilization Charges (LUC) (for Flexi Funds)

    LAP:

    0.5% of the difference between actual quarterly average utilization and Minimum Utilization (i.e. 25% of Withdrawal Limit)

    BL:

    Nil

    Technical Fees (For additional Property) On Actuals
    Valuation Fees (In Construction Linked Loans) On Actuals
    Charges towards Stamp Duty / Registration / Intimation of Mortgage / Creation of Mortgage As Applicable & Prescribed by the relevant Government Authority

     

    SPECIFIC TO UNSECURED LOANS - Business Loan (BL)
    Foreclosure and Part Pre-payment  charges
    Type of Borrower Type of Loan Type of ROI Applicability

    Individual & Non Individual

     

     

     

    Business Loans Fixed Rate of Interest Regular & Interest Only – Quarterly
    4% of principal outstanding at the time of foreclosure
    Interest Only – Yearly
    • 6% of principle outstanding if foreclosed during Interest only period.
    • 4% of principle outstanding, post completion of Interest only period.
     

    Business Loans

    (Flexi Funds) 

    4% of Withdrawal Limit amount on the date of such foreclosure
    Charge Description CHARGE AMOUNT EXCLUSIVE OF GST IN INR
    Processing Fees* Upto 3% of the loan amount
    Part Pre-payment charges Regular & Interest Only – Quarterly
    • 4% of the amount prepaid
    Interest Only – Yearly
    • 6% of amount prepaid, if prepaid during Interest only period.
    • 4% of amount prepaid, post completion of Interest only period.

     

    Business Loans (Flexi Funds)

    Part Pre-payment charges towards limit reduction – 4% of reduction amount

    Charges towards Stamp Duty As Applicable & Prescribed by the relevant Government Authority

     

    For Dairy Farm Loan, Kindly refer here.

     

    *An amount of INR 10,000/- will be applied towards IMD Fees (non-refundable) from the Processing Fees paid.

     

    **In event the documents are not collected on or before the date as intimated by the Company, an additional holding fee of Rs.1000/- per month will be charged upto a maximum amount of Rs.25,000/- along with the Document retrieval charges.

     

    1. For Semi-fixed pre-payment charges to be levied as per prevailing rate at time of closing.

    2. Refund of Fee: No refund of fee shall be allowed in any case at any point of time.

    3. Annual Maintenance Charge (AMC) is levied on Sanction Limit/Withdrawal Limit irrespective of utilization on the date of levy of such charges on advance/accrual basis, at the discretion of GFL. AMC and LUC are non-refundable/non-reversable.

    4. Please note : In addition to the above fee and charges, GST, any cess & other taxes, levies etc. prescribed by the Government of India or respective state will also be charged. Further the above fee and charges are subject to change and will be at the sole discretion of GFL.

    5. The Company has adopted an interest rate model based on cost of funds, cost of operations, various risks associated with the loan & security etc. An additional spread, based on the overall risk perceived, is factored in the pricing, which is function of income, credit history, credit information, profile of the borrower, internal assessment of the Company etc. Accordingly, the applicable rate of interest may be different for different customers’ loan exposures.

     

    description GFL PLR policy

    Godrej Finance Limited has the following Prime Lending Rates:

     

    Prime Lending Rate

    Rate

    Date of Application

    GFL PLR

    18.56%

    March 11, 2023

    GFL PLR BL

    18.31%

    February 8, 2023

     

    description Turn Around Time for Common Transactions (TAT)
    S. No. Transactions Type TAT in Working Days
    1 EMI issues 5
    2 Foreclosure Enquiry / SOA Request 21
    3 Refunds 15
    4 Property Papers 30
    5 SMS Request post closure 15
    6 Sanction Pending Disbursement 15

     

    * TAT to be calculated from the date when complete information with respect to service request has been provided

    description Identity & Address Proof Documents

    List of Documents considered valid for verifying identity and proof of address of prospective customers

     

    S.N. Type of customer Documents
    1 Individual- Resident Indian (as a Customer/ Beneficial Owner/ Authorized Signatory/ Power of Attorney holder for another individual/ entity)
    • Recent photograph;
    • Certified copy of Permanent Account Number (PAN) OR the equivalent e-document thereof;
    • Certified copy of one of the OVDs to be taken for verification of the identity and the address OR the equivalent e-document thereof; and
    • Other document including in respect of the nature of business and financial status of the client OR the equivalent e-document thereof, as may be required by the Company.

    OVD shall mean the following:

     

    • Proof of possession of Aadhaar number, in such form as issued by the Unique Identification Authority of India (UIDAI)
    • Passport
    • Driving License
    • Voter's Identity Card issued by the Election Commission of India
    • Job Card issued by NREGA duly signed by an officer of the State Government
    Letter issued by the National Population Register containing details of name and address.

     

    “Provided that in case the OVD furnished by the customer does not contain updated address, the following documents shall be deemed to be OVDs for the limited purpose of proof of address:

     

    • utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
    • property or Municipal tax receipt;
    • pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
    • letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave & license agreements with such employers allotting official accommodation.

    Provided, the customer shall submit OVD with current address within a period of three months of submitting the alternate documents specified above.

     

    Explanation: For the purpose of this clause, a document shall be deemed to be an OVD even if there is a change in the name subsequent to its issuance provided it is supported by a marriage certificate issued by the State Government or Gazette notification, indicating such a change of name.

     

    2 Individual- NonResident Indian (NRI)/ Persons of Indian Origin (PIOs)
    • Recent photograph;
    • Certified copy of Permanent Account Number (PAN) OR the equivalent e-document thereof;
    • In case of Indian Passport Holder- Certified copy of Valid Indian Passport along with copy of valid Employment/ Residence/ Student/ Dependent visa copy or work/ Residence Permit copy;
    • In case of Foreign Password holder Certified copy of valid Foreign Passport along with OCI (Overseas Citizen if India) card / PIO (Person of Indian Origin) card;
    • Certified copy of one of the OVDs to be taken for verification of the address OR the equivalent e-document thereof, if additionally required;
    • Valid KYC for the Power of Attorney holder as detailed in the previous para; and
    • Other document including in respect of the nature of business and financial status of the client OR the equivalent e-document thereof, as may be required by the Company.

    Further, the original certified copy of OVD, certified by any one of the following, may be obtained:

     

    • Authorized officials of overseas branches of Scheduled Commercial Banks registered in India;
    • Branches of overseas banks with whom the Company may have relationships;
    • Notary Public abroad;
    • Court Magistrate;
    • Judge;
    • Indian Embassy/ Consulate General in the country where the non-resident customer resides.

     

    3 Sole Proprietary firms

    In addition to OVD, PAN and photograph for the proprietor as an individual, any two of the following documents OR the equivalent edocument thereof, as a proof of business/ activity in the name of the proprietary firm shall also be obtained:

     

    • Registration certificate;
    • Certificate/ License issued by the municipal authorities under Shop and Establishment Act;
    • Sales and income tax returns;
    • CST/VAT certificate;
    • Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities;
    • License/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute;
    • Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/ acknowledged by the Income Tax authorities;
    • Utility bills such as electricity, water, landline telephone bills etc.

    Note:

     

    In cases where the Company is satisfied that it is not possible to furnish two such documents as mentioned above, it may accept only one of those documents as proof of business/ activity, subject to contact point verification and collection of such other information and clarification as would be required to establish the existence of such firm. Further, it should be satisfied that the business activity has been verified from the address of the proprietary concern.

     

    4 Company

    In addition to OVD, PAN and photograph of the director/ manager/ employee (as an individual) holding authority to transact on the applicant company’s behalf; certified copies of the following documents OR the equivalent e-document thereof:

     

    • Certificate of incorporation;
    • Memorandum and Articles of Association;
    • Permanent Account Number of the Company; and
    • A resolution from the Board of Directors and power of attorney granted to its managers, officers or employees to transact on its behalf.

     

    5 Partnership Firm

    In addition to OVD, PAN and photograph of the partner/ manager/ employee (as an individual) holding authority to transact on the applicant firm’s behalf; certified copies of the following documents OR the equivalent e-document thereof:

     

    • Document evidencing authority of the person to act on behalf of the entity;
    • Registration Certificate, if registered;
    • Partnership Deed; and
    • Permanent Account Number of the partnership firm.
    6 Trust

    In addition to OVD, PAN and photograph of the trustee/ beneficiary/ person (as an individual) holding an attorney to transact on the trust’s behalf; certified copies of the following documents OR the equivalent e-document thereof:

     

    • Document evidencing authority of the person to act on behalf of the Trust;
    • Registration Certificate, if registered;
    • Trust Deed; and
    • Permanent Account Number or Form No.60 of the trust.
    7 Unincorporated Association or a Body of Individuals

    In addition to OVD, PAN and photograph of the person (as an individual) holding an attorney to transact on the entity’s behalf; certified copies of the following documents OR the equivalent edocument thereof:

    • Resolution of the managing body of such association or body of individuals;
    • Power of attorney granted to him to transact on its behalf
    • Permanent Account Number or Form No. 60 of the unincorporated association or a body of individuals; and
    • Such information as may be required by the Company to collectively establish the legal existence of such an association or body of individuals.
    8 Other entities not specifically covered above, such as societies, universities and local bodies like village panchayats

    In addition to OVD, PAN and photograph of the person (as an individual) holding an attorney to transact on the entity’s behalf; certified copies of the following documents OR the equivalent edocument thereof:

    • Document evidencing authority of the person to act on behalf of the entity; and
    • Such documents as may be required by the Company to establish the legal existence of such an entity/ juridical person.

     

    description Grievance Redressal Mechanism

    Any customer having a grievance/ complaint/ feedback with respect to the product and services offered by Godrej Finance Limited (“GFL” or “the Company”) may write to the Company’s Customer Service Department through any of the following channels:

     

    Complaint Point

    Call us on 022-68815555 or

    Email to customercare@godrejcapital.com (From Monday to Sunday, 9:00 AM to 6:00 PM)

    Visit the website- www.godrejcapital.com

    Write a letter addressed to : Customer service Team, Godrej Finance Limited, Godrej One, Pirojshanagar, Vikhroli East, Mumbai, 400079,

    Maharashtra, India

    First Escalation

    Name: Ankit Gupta

    Designation: Grievance Redressal Officer

    E-mail ID.: nodalofficer@godrejfinance.com

    Telephone no.: +91 8657764527

    Address: Godrej Finance Limited, 9th Floor, Godrej One, Pirojshanagar,

    Vikhroli East, Mumbai, 400079, Maharashtra, India

    Second Escalation

    Name: Dimpy Kamra

    Designation: Principal Nodal Officer Email: nodalofficer@godrejfinance.com

    Contact No: +91 8657764527

    Address: Godrej Finance Limited, 9th Floor, Godrej One, Pirojshanagar,  Vikhroli East, Mumbai, 400079, Maharashtra, India

    Officer-in-Charge of the Regional Office of Department of Supervision of Reserve Bank of India (RBI) (In case delayed or no response)

    The Officer–in–Charge

    Department of Non-Banking Supervision, The Reserve Bank of India,

    3rd Floor, Near Maratha Mandir, Byculla, Mumbai Central, Mumbai– 400008

    Telephone No.: 02223084121

    Fax No.: 0222302 2011

    Email: dnbsmro@rbi.org.in

    RBI Ombudsman (In case no response within 30 days of Complaint

    or no response or If complaint is rejected wholly/partly and customer remain dissatisfied with response)

    Complaint Redressal Cell of RBI

    Online mode for Complaint/Appeal: https://cms.rbi.org.in

    Contact details of Centralised Receipt and Processing Centre (CRPC)

    Email ID: crpc@rbi.org.in

    Address: Centralised Receipt and Processing Centre(CRPC),Reserve Bank of India, 4th Floor, Sector 17, Chandigarh – 160017

    Toll Free No.–14448

    Complaints pertaining to Insurance – Corporate Agency

    Grievance Redressal Cell of the Insurance Regulatory and Development Authority of India

    General Manager

    Insurance Regulatory and Development Authority of India (IRDAI)

    Policy holder’s protection & Grievance Redressal Department – Grievance Redressal Cell.

    Sy. No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500 032.

    Email: complaints@irdai.gov.in

    Bima Bharosa system - IRDAI Portal at https://bimabharosa.irdai.gov.in/

    Contact: Toll Free No. 155255 or 18004254 732.

     

    How a complaint should be made

     

    For proper resolution, the customer is requested to provide necessary loan details i.e. Loan Account Number, Details of Feedback/Suggestion/Complaint and valid Contact Information including phone no. & e-mail ID while lodging communicating with the Company.

     

    When to expect a reply

     

    The Company shall endeavor to address/respond to all queries/grievances within reasonable time and keep the customer in informed about the status of their complaints. Each customer query/complaint being unique in nature, may take up to one month for complete resolution after investigation.

     

    Click here to view form in Marathi, Hindi, Telugu, Tamil, Gujarati, Kannada

     

    description RBI Ombudsman Scheme
    description Fair Practice Code

    Background

     

    Godrej Finance Limited (“GFL” or “the Company”), as a Non-Banking Financial Company, is required to comply with the ‘Guidelines on Fair Practices Code’ issued by the Reserve Bank of India (“RBI”) under Chapter VI of Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 issued on 01st September 2016 as updated from time to time. Accordingly, it is proposed to adopt Fair Practice Code with the approval of the Board.

     

    Objectives

     

    • To promote good and fair practices by setting minimum standards in dealing with customers,
    • To increase transparency so that the customer can have a better understanding of what he/she can reasonably expect of the services,
    • To promote a fair and cordial relationship between customer and the Company.

     

    Review of the Code

     

    • The code shall be reviewed Annually by the Board of Directors
    • Board of Directors can at any time modify or amend, either the whole or any part of Policy
    • Compliance confirmation with Fair Practice Code shall be provided on Annual basis to the Board of Directors,
    • Half-Yearly report on grievance redressal mechanism be put to the Board of Directors

     

    Adherence to Fair Practice Code in Loan Process

     

    Company shall ensure that all communications to the borrower are made either in the vernacular language or a language as understood by the borrower.

     

    Loan Application

     

     

  • Loan application forms should include 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 will indicate the documents required to be submitted with the application form,
  • The Company has a system of giving acknowledgement for receipt of all loan applications.
  • Preferably, the time frame within which loan applications will be disposed of should also be indicated in the acknowledgement.
  •  

     

    Loan appraisal, terms/conditions

     

    The Company will

     

     

  • convey in writing to the borrower in the vernacular language or a language as understood by the borrower by means of sanction letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record,
  • mention the penal charge which will be charged for late repayment in bold in the loan agreement,
  • 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 through its Customer Portal which can be accessed by the Borrower.
  •  

     

    Interest charged by Company

     

     

  • The Board of Company shall adopt an interest rate model taking into account relevant factors such as cost of funds, margin and risk premium which helps in determining the rate of interest to be charged for loans and advances,
  • Boards of Company shall lay out appropriate internal principles and procedures in determining interest rates and processing and other charges. While doing so, directions in the Fair Practices Code about transparency in respect of terms and conditions of the loans shall be kept in view
  • The rate of interest and the approach for gradation of risk and rationale for charging different rate of interest to different categories of borrowers is disclosed to the borrower or customer in the application form and communicated explicitly in the sanction letter,
  • The rate of interest shall be annualised rate so that the borrower is aware of the exact rates that would be charged to the account,
  • The rates of interest and the approach for gradation of risks shall also be made available on the website of Company,
  • The information published on the website shall be updated whenever there is a change in the rates of interest.
  •  

     

    Penal Charges in Loan Accounts

     

     

  • Penalty, if charged, for non-compliance of material terms and conditions of loancontract by the borrower shall be treated as ‘penal charges’ and shall not be levied inthe form of ‘penal interest’ that is added to the rate of interest charged on the advances.
  • Penal charges shall not be capitalized (no further interest computed onsuch charges)
  • There shall be no additional component to the rate of interest
  • The penal charges in case of loans sanctioned to ‘individual borrowers, for purposesother than business’, shall not be higher than the penal charges applicable to nonindividual borrowers for similar non-compliance of material terms and conditions.
  • Company shall communicate applicable penal charges and the reason thereforto borrowers in case of levying charges.
  •  

     

    Disbursement of loans including changes in terms and conditions

     

     

  • 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. by the mechanisms informed in Loan Agreement,
  • Company will ensure that changes in interest rates and charges are affected only prospectively & a suitable condition in this regard will be incorporated in the loan agreement,
  • Decision to recall/accelerate payment or performance under the agreement will be in consonance with the loan agreement,
  • 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 Company may have against 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 Company are entitled to retain the securities till the relevant claim is settled/ paid.
  •  

     

    Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans

     

    Company shall ensure that at the time of reset of interest rate, Borrower shall be provided with following options:

     

    a) Enhancement in EMI or

    b) Elongation of tenor or

    c) Combination of both options

    d) Switch over to a Fixed Interest Rate

     

    The Borrower shall be allowed to switch interest rates any number of times during the tenor of the loan. Conversion or Switch Charges shall be applicable as per Schedule of Charges.

     

    Company shall communicate details prescribed in the guidelines to Borrower on quarterly basis.

     

    Release of Movable / Immovable Property Documents

     

    Company shall release all the original movable / immovable property documents and remove charges registered with registry within a period of 30 days after full repayment/ settlement of the loan account.

     

    Company shall provide option to Borrower collect property documents from Home Branch or any other branch as per Borrower’s preference

     

    In case where the delay is attributable to the Company, Company shall compensate Borrower as per extant guidelines and assist the borrower in obtaining duplicatecertified copies of the property documents in case of loss/damage to original property documents.

     

    General Guidelines

     

     

  • There shall be no interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement unless new information, not earlier disclosed by the borrower, has come to the notice of the Company,
  • In case of receipt of request from the borrower for transfer of borrower account, the consent or otherwise i.e. objection of the Company, if any, shall be conveyed within 21 days from the date of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with law,
  • In the matter of recovery of loans, undue harassment viz. persistently bothering the borrowers at odd hours, use of muscle power for recovery of loans etc. is strictly restricted and is against the Company’s code of conduct. Regular training to all staff that interacts with customers shall be organized for appropriate behaviour with customer,
  • The Company shall charge foreclosure charges/pre-payment penalties as perprescribed guidelines.
  • Company does not extendany loan to any micro-finance borrower.
  •  

     

    Responsibility of Board of Directors

     

    a)     The Board of Directors of Company have laid down a Grievance Redressal mechanism within the organization to resolve complaints and grievances which is enunciated in the Grievance Redressal Policy for the Organization.

    b)     This mechanism ensures that all disputes arising out of the decisions of Company’  functionaries are heard and disposed of at least at the next higher level.

    c)      The Board of Directors of shall conduct an annual review of the compliance of the Fair Practices Code and the functioning of the grievances redressal mechanism at various levels of management.

     

    Complaints and Grievance Redressal

     

    Guidelines for complaint and grievance redressal are contained in Grievance Redressal Policy of the Company which is approved by the Board of Directors of Company.

     

    Disseminating Fair Practice Code

     

    Fair Practice Code shall be disseminated through company website in vernacular language or a language understood by Borrower, for the information of various stakeholders..

     

    Privacy and Confidentiality

     

    All Personal Information of the borrowers both present and past shall be treated as Private and Confidential and shall be guided by the following principles & policies. The Company shall not reveal information or data relating to borrower accounts, whether provided by the customers or otherwise, to anyone, including our affiliates other than in the following exceptional cases:

     

     

  • If the Company is required to provide the information to any statutory or regulatory body or otherwise required under any law,
  • If there is a duty towards the public to reveal the information,
  • If Company’s interests require them to give the information (for example, to prevent fraud). However, it will not be used as a reason for giving information about borrower or borrower’s accounts (including customer name and address) to anyone else, including other companies in the group, for marketing purposes,
  • If the borrower has authorized the Company to provide such information to its group / associate/entities or companies or anysuch person/entity as specifically agreed upon,
  • If Company are asked to give a reference about borrower, they shall obtain his/ her written permission before giving it,
  • The borrower shall be informed the extent of his/ her rights under the existing legal framework for accessing the personal records that GFL holds about him/ her, through the Privacy Policy available on website,
  • Company shall not use customer’s personal information for marketing purposes by anyone including Company, unless the customer specifically authorizes to do so.
  •  

     

    Loans sourced over Digital Lending Platforms(DLP)

     

    Company does not intend to extend loans through Digital Lending Platforms. However, in event a partnership is undertaken by the Company where its loans are extended through DLP either to source borrowers and/or to recover dues, Company shall comply with the instructions contained in circular on ‘Guidelines on Digital Lending’ dated
    September 02, 2022 and Guidelines on Default Loss Guarantee (DLG) in Digital Lending dated June 8, 2023, as amended from time to time and  follow the following instructions:

     

    • Names of digital lending platforms engaged as agents shall be disclosed on the website of Company,
    • Digital lending platforms engaged as agents shall be directed to disclose upfront to the customer, the name of the Company on whose behalf they are interacting with him,
    • Immediately after sanction but before execution of the loan agreement, the sanction letter shall be issued to the borrower on the letter head of the Company,
    • A copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement shall be furnished to all borrowers at the time of sanction/ disbursement of loans,
    • Effective oversight and monitoring shall been sured over the digital lending platforms engaged by Company,
    • Company shall also update its grievance redressal mechanism and include Digital Lending Platform under it.

     

    Click here to view in MarathiHindiKannadaTeluguTamilGujarati

    description Procedure for Return of Property Documents to Legal Heir(s)

    Procedure for return of property documents to legal heir(s) in event of demise of Customer

     

    1. Background

     

    As per RBI guidelines, Company releases the original property documents received from customer(s) and removes charge registered with CERSAI within 30 days of full repayment/ settlement of the loan. Company also has in place a process for return of original property documents to the customer(s) and to the legal heir(s) in case of demise of customer(s).

     

    2. Procedure:

     

    1. Information on Demise: The legal heir(s) shall be required to inform the Company about the demise of the customer(s). Legal heir(s) may contact the Company’s Customer Service Department through any of the following channels:

       

      • Visit nearest branch or
      • Call us on 022-68815555 or
      • Email to customercare@godrejcapital.com
    2. Company may reach out to legal heir(s) for continuance / full repayment/ settlement of the loan. In case the customer opts for full repayment/ settlement of the loan, process for closure of the loan and release of property papers post closure shall be initiated.

    3. Submission of Documents: The legal heir(s) are required to submit documents such as Death certificate, KYC document of all the legal heir, SMC (Surviving Member Certificate) or other applicable document. These documents shall establish the legal right of the heir(s) to the demised customer’s property.

    4. Verification by Company: Company will verify these documents and the identity of the legal heir(s).

    5. Retrieval of Documents and Intimation to Legal heir(s): Upon successful verification, the company shall retrieve the document from storage and inform details to the legal heir(s) for handover at the branch of the Company.

    6. Removal of CERSAI Charge & Handover of Property Documents: Once the verification is complete, the Company shall remove CERSAI charge and release the property documents to the legal heir(s). Legal heir(s) shall visit the Branch along with documents prescribed by the Company for handover of property documents. In case there are more than one legal heir(s), all of legal heirs have to be present for document handover or shall provide a written consent & NOC and a call confirmation shall be carried out by Company at the time of document handover.

    description Public Notice of Shifting / Closing of Branches / Offices of the Company