Fair Practices Code (FPC)
In compliance with Reserve Bank of India (RBI) Master Directions for NBFCs & Digital Lending Guidelines 2022/2026.
1. Preamble & Regulatory Mandate
Udaann Capital NBFC Limited ("Company") has adopted this comprehensive Fair Practices Code (FPC) in accordance with the regulatory directives and guidelines issued by the Reserve Bank of India (RBI). The objective of the code is to promote good and fair lending practices, establish transparency in digital transactions, enhance customer satisfaction, and foster high standards of ethical corporate conduct across all lending operations.
2. Key Lending Commitments
All loan terms, interest rates (annualized reducing balance), and statutory fees are conveyed in simple language without hidden riders.
We do not discriminate on grounds of caste, color, creed, race, religion, gender, or disability in underwriting loan applications.
Individual borrowers on floating personal loan products are granted 0% foreclosure or part-prepayment charges.
Borrowers are given an explicit right to exit any executed loan agreement within 72 hours by repaying principal and proportionate interest.
3. Loan Appraisal, Terms & Sanction Letters
Each loan application is processed on its merit through automated credit scoring and underwriting checks. Upon sanction, a standardized Key Fact Statement (KFS) containing the sanctioned principal, tenure, EMI, APR, and total cost of borrowing is issued to the borrower. The loan agreement and KFS are executed electronically via Aadhaar / Mobile OTP digital signature.
4. Direct Bank Transfers Only
In strict adherence to RBI Digital Lending Directions, all loan proceeds are disbursed directly from Udaann Capital's verified bank account into the borrower's verified savings bank account via NEFT/IMPS. No cash disbursements, physical vouchers, or third-party pool accounts are utilized under any circumstances.
5. Grievance Redressal Mechanism & Escalation
If a borrower has any complaint regarding loan terms, disbursal, recovery conduct, or data security, they can register a grievance through our dedicated escalation matrix:
• Level 1: Customer Support Desk: support@udaanncapital.in | Phone: 7722011777 (Turnaround: 48 Hours)
• Level 2: Grievance Redressal Officer (GRO), Udaann Capital NBFC Limited (Turnaround: 7 Business Days)
• Level 3: RBI Integrated Ombudsman Scheme (https://cms.rbi.org.in) if grievance remains unaddressed for 30 days.