Vision
- “Jayabharat” the name that inspires Confidence: Amongst its Customers for the unstinted support it gives them, understanding their business cycle and problems. Jayabharat would continue to finance the deserving and ambitious person who is honest and willing to put in hard work to achieve his/her desired goal.
- “Jayabharat” the name that inspires Confidence: Amongst its Deposit Holders for the personalized and homely service it provides and shall continue to better the services with adoption of newer technology in the times to come.
- “Jayabharat” the name that inspires Confidence: Amongst its Shareholders for the transparency of working and being true to its Vision Statement and shall strive to make the Shareholder proud of his/her investment.
Fair Practices Code
i) Applications for loans & their processing:
- The Company’s application form for any of its finance products contains necessary information which is relevant and in the interest of the borrower who can take an informed decision including documents required to be submitted with the application form.
- The Company has the practice to give an acknowledgement for receipt of all loan applications which would indicate the disposal date of 10 working days from the date of acceptance of the application.
ii) Loan appraisal and terms and conditions:
- The Company has the practice to convey the amount of finance sanctioned along with the terms and conditions including annualized rate of interest (IRR) and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record.
iii) Disbursement of loans including changes in terms and conditions:
- The Company has the practice to send notice to the borrower with respect to any change in the terms and conditions including disbursements schedule, interest rates, service charges, prepayment charges etc. The change as mentioned aforesaid would be affected prospectively.
- The Company does not take a decision on any Account which is contradictory to the provisions of the underlying loan documents executed between the borrower and the Company.
- The Company has the practice to release the security associated to an account of the borrower on repayment of all dues in the account and would retain a security only under a legitimate right or lien for any other claim the Company may have against the borrower. The borrower under such circumstances would be notified 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.
iv) General:
- The Company does not interfere in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement.
- Upon receipt of any request for transfer of loan account by the borrower, the consent or objection would be conveyed within 21 days from the date of receipt of request. The Company does not have a practice of transfer of loan account from one customer to another. However upon receipt of such a request the Company may consider the same provided the transferee and his credit worthiness is acceptable to the Company.
- The Company has the practice to deploy only legitimate and humane; ways and means within the purview of various laws of the state and the country in the matter of recovery of its dues.
v) Fair Practice and Grievance Committee:
- The Company has a Executive Committee headed by the Executive Director and three senior executives of the Company to redress and resolve disputes with the borrower, arising out of administrative decisions made by the Company’s executives on lending and recovery matters.