Client Protection Code
Light Microfinance Pvt. Ltd. (“Light”) displays client protection code in all of its branches and offices in vernacular language.
Light ensures that all its product and services are provided to eligible clients and are in compliance with RBI guidelines.
Light ensures that loan approval will be strictly based on client authenticity and repayment capacity and no discrimination will be done on the basis of caste, religion and race or social/political affiliation.
Light ensures that only relevant documents necessary for completion of transaction are collected and it is in compliance with RBI guidelines.
All products delivered by Light are based on the principles of Joint Liability of Group and all terms and conditions related to product and insurance linked with the product are communicated to the clients in vernacular language.
Light ensures that consent of the client are taken in all the cases.
Light ensures that proper due diligence is conducted and repayment capacity of client is analyzed before sanctioning of the loan.
In no circumstances, Light lends to a client who has indebtedness from two separate microfinance companies.
In no circumstances, Light allows to exceed the total debt limit of the client as mandated by RBI.
Field staff of Light strictly follows the code of conduct while interacting with clients.
Light provides receipt for every payment received from the borrower.
Light deals with all defaulter clients as per RBI guidelines.
Light does not collect shortfall in collection of clients from employees, except in the cases of proven fraud.
Light uses client information strictly for loan related transactions and it is disclosed to third party after due consent from the client or as a legal requirement.
Light informs the new client about its policies, procedures and grievance redressal mechanism in its client training program.