In the matter of lending, the Bank will not discriminate on grounds of gender, caste and religion. This, however, will not preclude the Bank from participating in credit-linked schemes framed by the government preferentially for weaker sections of society.

Bank will use credit application forms that are comprehensive.

The product brochures read with the forms, will include information, such as fees / charges / refundable amounts / prepayment options etc. which materially affects the interests of the borrower.

The Bank will give an acknowledgement for all credit applications, when received from the borrower applicant. The time frame, within which a decision will be conveyed, will be indicated in the acknowledgement. Where applicable, the acknowledgement will state the amount of processing fees paid or payable and the extent to which such fees will be refunded in the event of rejection of the credit application. It is expected that credit applications from borrowers will be complete in all respects and be accompanied by all supporting documents specified by the Bank.

The Bank will verify the credit application within a reasonable period of time. The Bank will, within a period of seven working days of receipt of the credit application, inform the borrower if additional details / information is required.

The Bank will undertake an appropriate level of due diligence on the credit worthiness of the borrower and assessment of need-based credit. Extension of credit facilities will be in accordance with the risk-appetite of the Bank. The Bank will not be guided solely by margin and security when deciding on lending.

The Bank will communicate the rejection of any loan application to the Borrower in writing indicating the main reason for rejection of the loan application.

The Bank will ensure timely disbursement of credits sanctioned, on execution / submission of all documents, creation of security and compliance of all conditions precedent to the disbursement of the credit, to the satisfaction of the Bank. However, in the event that the Bank comes across any new information on the borrower impacting the lending, the Bank may review its sanction.

The Bank will permit continued utilization of the credit facilities, on the terms agreed. However, it would be solely at the discretion of the Bank, at each instance, whether or not to permit utilization:

1. Beyond the sanctioned limit; or
2. For purposes other than specifically agreed to in the credit sanction; or
3. In a credit classified as a non-performing asset; or
4. When terms & conditions are not complied with

The Bank is not obligated to meet further financial requirements of the borrower. Fresh credit facilities or enhancements or renewal of existing credit limits will be at the sole discretion of the Bank and will be subject to review of the existing credit facilities and the borrower’s credit worthiness / business.

The Bank will not interfere in the affairs of the borrower except to the extent provided in the terms and conditions in the credit documents or in the event that new information, not earlier disclosed by the borrower, comes to the notice of the Bank or as permissible to a lender under existing or future statutes or to protect the Bank’s interests.

In case of receipt of request from the borrower for transfer of credit account to another bank, the consent or objection will be communicated to the borrower within 21 days from the date of receipt of the written request.

The Bank will give adequate notice of any change in the terms and conditions of the lending, including revision in interest rates.

The Bank will give a reasonable notice period to borrowers before taking a decision to recall / accelerate repayment of a credit or demanding performance under credit agreements or seeking additional securities / higher margins / higher pricing / reduction in dues / etc. This, however, will not be applicable in cases where trigger events (also termed “events of default”) are already specified in the credit documents, on the happening of which the Bank may at its discretion recall / accelerate repayment of the credit or demand performance under the agreements or seek additional securities / higher margins / higher pricing / reduction in dues / etc.

In the matter of recovery of credits, the Bank will adopt fair methods.

The Bank will release all securities on full repayment / realization of a credit to the satisfaction of the Bank, subject to any legitimate right or lien for any other claim the Bank may have against the borrower. Where such right of set off is exercised, the borrower will be given a notice about the same with full particulars of the remaining claims and the documents under which the Bank is entitled to retain the securities till the stated claims are settled / paid.