Disbursement of loans including changes in terms and conditions:
(a) The Company would ensure timely disbursement of loans sanctioned in conformity
with the terms and conditions governing such sanction. The Company shall give notice
to the borrower in the vernacular language as understood by the borrower of any change
in the terms, including disbursement schedule, interest rates, service charges, prepayment
(b) The Company shall ensure that changes in interest rates and charges are effected only prospectively.
A suitable condition in this regard should be incorporated in the loan agreement.
(c) Decision to recall / accelerate payment or performance under the agreement should be
in consonance with the loan agreement.
(d) The Company shall release all securities on repayment of all dues or on realisation of the
outstanding amount of loan subject to any legitimate right or lien for any other claim the 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
the Company is entitled to retain the securities till the relevant claim is settled/paid.