The Company may grant both secured and unsecured loans to individuals, Companies, firms, trusts and other entities as per the emerging business needs. In case the loans are given without any primary/collateral security, like unsecured personal loans and other clean loans, more than ordinary care will be taken to see that such loans are granted only to persons/firms/Companies of repute with credit worthiness and track record. The rate of interest will be decided on a case-to-case basis taking into account various factors like the cost of funds, operational expenses, risk attached to the advance etc but will be subject to the ceiling on the maximum interest rate chargeable as per the Fair Practices Code of the Company.

The Company may outsource some of the activities connected with such loans like sourcing of loan applications/KYC verification/ dues collection etc. In such cases, agencies will be empanelled only after they are subjected to a due diligence process and after entering into an agreement with them complying with the conditions stipulated in the Board approved Outsourcing Policy. The outsourcing agencies will be subjected to regular review and periodical audits by the Company’s internal auditors to ensure that they are complying with the mandatory requirements under Labour laws and other applicable regulations and the terms and conditions of the agreement entered into with the Company are being followed