Nivasa Capital Private Limited (the "Company") is a Non-Banking Financial Company -Investment and Credit Company ("NBFC-ICC"), placed at present in the Base Layer of the Reserve Bank of India's ("RBI") regulatory structure. The Company currently offers various lending products, including housing loans, Secured Loans, loans against property (collectively "Loans") to individuals ("customer(s)" "borrower(s)").
Pursuant to Master Direction- Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025 and Master Direction - Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025 (Updated as on April 1, 2026) (as amended from time to time) issued to Non-Banking Financial Companies (NBFCs), the Board of Directors have adopted a Fair Practices Code for Nivasa Capital.
The Reserve Bank vide Master Direction - Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025 (Updated as on April 1, 2026) ("Directions") as amended from time to time, have issued guidelines on Fair Practices Code (FPC) for all NBFCs to be adopted by them while doing lending business. The guidelines, inter alia, covered general principles on adequate disclosures on the terms and conditions of a loan and adopting a non-coercive recovery method. The same was revised in view of the recent developments and the rapid growth in NBFCs.
The Code is framed with the objective of ensuring the Company's key commitments to the customers:
The Fair Practices Code, as adopted herein below, is in conformity with the guidelines on Fair Practices Code for NBFCs as contained in the aforementioned RBI Circular.
The Company's business will be conducted in accordance with prevailing statutory and regulatory requirements, with due focus on efficiency, customer orientation and corporate governance principles. In addition, the Company will adhere to the Fair Practices Code in its functioning.
The key elements are as follows:
All loan products of the Company shall be as per the Loan Policy adopted by the Company.
All communications to the customer by the Company shall be in English as it is commonly understood by all the customers of the Company. If a customer explicitly requests communication in vernacular language of the region, The Company will acknowledge this preference, and all subsequent communications with that client will be in the requested language.
Loan application forms shall include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by another lender can be made, and informed decision can be taken by the borrower. The loan application form shall indicate the documents required to be submitted with the application form.
The Company shall devise a system of giving acknowledgement for receipt of all loan applications. The time frame within which loan applications will be disposed of shall also be indicated in the acknowledgement.
The Company shall convey in writing to the borrower in the vernacular language or in English as understood by the borrower by means of sanction letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record.
The Company shall furnish a copy of the loan agreement as understood by the borrower along with a copy of each of all enclosures quoted in the loan agreement to all the borrowers at the time of sanction / disbursement of loans.
A Company shall give notice to the borrower in the vernacular language or in English as understood by the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. The Company shall also ensure that changes in interest rates and charges are effected only prospectively. A suitable condition in this regard shall be incorporated in the loan agreement.
Decision to recall / accelerate payment or performance under the agreement shall be in consonance with the loan agreement.
A 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 they 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.
A Company shall refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement (unless information, not earlier disclosed by the borrower, has been noticed).
In case of receipt of request from the borrower for transfer of a borrowable account, the consent or otherwise i.e., objection, if any, shall be conveyed within 21 days from the date of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with law.
In the matter of recovery of loans, the Company shall not resort to undue harassment viz., persistently bothering the borrowers at odd hours, use muscle power for recovery of loans etc. As complaints from customers also include rude behaviour from the staff of the companies, a Company shall ensure that the staff is adequately trained to deal with the customers in an appropriate manner.
The Board of the Company shall adopt an interest rate model taking into account relevant factors such as cost of funds, margin and risk premium and determine the rate of interest to be charged for loans and advances. The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to different categories of borrowers shall be disclosed to the borrower or customer in the application form and communicated explicitly in the sanction letter.
The rates of interest and the approach for gradation of risks shall also be made available on the website of the companies or published in the relevant newspapers. The information published on the website or otherwise published shall be updated whenever there is a change in the rates of interest.
The rate of interest must be annualised rate so that the borrower is aware of the exact rates that would be charged to the account.
Fair Practices Code shall be (which should preferably in the vernacular language or a language as understood by the borrower) based on the guidelines outlined by the RBI should be put in place by all NBFCs with the approval of their Boards. The same should be put up on the website for the information of various stakeholders.
The Company shall lay out appropriate internal principles and procedures in determining interest rates and processing and other charges if any, and also to ensure that they are not excessive.
The Company shall adopt an interest rate model considering relevant factors such as, cost of funds, margin and risk premium, etc. and determine the rate of interest to be charged for loans and advances.
The rate of interest and the approach for gradations of risk, viz. the financial strength, business, regulatory environment affecting the business, competition, past history of the borrower, etc. and rationale for charging different rates of interest to different categories of borrowers shall be disclosed to the borrower or customer in the application form and communicated explicitly in the sanction letter.
The rates of interest shall also be made available on the website of the company. The information published in the website or otherwise published shall be updated whenever there is a change in the rates of interest. The rate of interest should be annualized rates so that the borrower is aware of the exact rates that would be charged to the account.
The Company have a built-in re-possession clause in the contract / loan agreement with the borrower which must be legally enforceable. To ensure transparency, the terms and conditions of the contract/loan agreement shall also contain provisions regarding:
A copy of such terms and conditions must be made available to the borrower. The Company shall invariably furnish a copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement to all the borrowers at the time of sanction/ disbursement of loans, which forms a key component of such contracts/ loan agreements.
The Company has a robust Grievance Redressal Mechanism. In order to effectively address customer grievances, Company has introduced multiple channels of communication as described below. A customer can raise a complaint or express dissatisfaction on the company service or those provided by an outsourced agency through the below channels:
Registered Office Address:
No.7/1 (Old No. 4/5) Ali Askar Road, Vasanth Nagar,
H.K.P. Road, Bangalore North,
Bangalore - 560052, Karnataka.
After waiting for a reasonable time, if the customer feels that his issue is still not addressed or resolved to his satisfaction he / she may escalate the issue as per the company escalation Matrix.
4th Level Escalation: In rarest of the scenarios where the customer is not happy with the response provided by the 3rd level escalation, and if the issue is not resolved within 1 month of submission, the customer can write to the NBFC Ombudsman, details as provided below:
| Centre | Name & Address of the Office of RBI Ombudsman |
|---|---|
| Bengaluru | C/o Reserve Bank of India, 10/3/8, Nrupathunga Road, Bengaluru – 560 001 STD Code: 080, Tel. No. 22277660/22180221 |
| Mumbai (I) | C/o Reserve Bank of India, 4th Floor, RBI Byculla Office Building, Opp. Mumbai Central Railway Station, Byculla, Mumbai – 400 008 STD Code: 022, Tel No. 23022028 |
| Mumbai (II) | C/o Reserve Bank of India, 1st Floor, RBI Byculla Office Building, Opp. Mumbai Central Railway Station, Byculla, Mumbai – 400 008 STD Code: 022, Tel No.: 23001280 |
A customer can raise a complaint or express their dissatisfaction on the company service in manner specified in the manner specified in paragraph 6.10 herein below and as specified in the website of the Company. (Link of Customer Grievance Redressal Mechanism)
This Policy will undergo annual reviews or as needed to accommodate changes in regulatory requirements.