Ambala International

Fair Practice & Client Satisfaction

We will adhere to the following fair and ethical code of conduct in our lending activities in order to provide financial solutions in a transparent and fair manner.

Why should you get involved in Ambala International financial services?

  • Ambala International completely paper-free and bureaucratic complex free digital system will bring the service to the doorstep of the people.
  • Once the association is formed within 2-3 weeks after completing the verification and selection during member admission, there will be no need for members to attend regular weekly meetings.
  • Transactions will be completely digital, so there will be no need for cash transactions.
  • Ambala International is committed to giving the highest interest on savings to members.
  • Every member will have a smart phone in hand. Transactions will not be made in cash, but through Ambala International own apps on smart phones.
  • Ambala International operates under a strategic model that emphasizes Digitalization, Simplification, Decentralization, Cost-Effectiveness & Self-Sufficiency, Financial Inclusion and Highest Level of Clients Satisfaction.

Application Processing

  • As soon as all loan applications are received and accepted, the prospective borrower will be informed of the application processing time so that the prospective customer can easily track the status of their application. The customer can track their application through any of our channels using their mobile number. If the borrower is an individual (especially not a large borrowing group or corporate) and the loan proposal has been initiated through detailed discussions and communication, then the application/acknowledgement process may not be followed, although a request from the borrower is required as per the Client Satisfaction Guideline.
  • For any query regarding the processing of the loan, the borrowers can contact Ambala International through various channels (branches, phone etc.).
  • The company generally completes the loan application/request expeditious verification within two months of the date of receipt of the loan application/request. In case of delay in processing the loan, the company will inform the prospective borrower within a reasonable time. If additional details/documents are required, the company will inform the borrower immediately.

Loan Application Form and Terms and Conditions

  • We will ensure that the loan application is assessed fairly and appropriately.
  • We will inform the borrower of the amount sanctioned for the loan in detail along with the terms and conditions and collect the borrower’s consent of the same before disbursing the loan.
  • After the loaning phase is over, we will digitize and save the copy of the agreement and terms and conditions executed by the borrower.
  • The loan tenure will be clearly mentioned in the loan agreement.
  • The increased financial needs of the borrower for the development of the business will be met subject to due review.
  • In case of borrowing by multiple individuals, teams, groups engaged in the same purpose, contact will be established with other lenders to complete the loan assessment on a priority basis as much as possible and the decision taken regarding the loan will be communicated within a reasonable time frame in coordination with other members of the group.

Loan Disbursement with Changes in Terms and Conditions

  • We will ensure timely disbursement of the loan amount in accordance with the terms and conditions of the loan approval.
  • We will inform the borrower about the changes in the terms and conditions before implementing them.

Post-Disbursement Supervision

  • We will implement them in accordance with our lending policy, approval conditions.
  • We will return all the deposited collateral within a reasonable time only after the loan is repaid or after satisfying any other prior claims we may have against the customer, subject to our legal rights.

Others

  • We will not interfere in the personal affairs of the borrowers unless otherwise provided for under the terms and conditions of the loan approval document/loan agreement. However, if we come to know of any material information being withheld by the borrowers regarding the availed loan facility, we will take appropriate action or steps to protect our interests.
  • We will not discriminate on the basis of gender, caste or religion in lending. In fact, we will not deviate from designing credit linked schemes for the weaker sections of the society.

Microfinance Scheme Borrowers

First and foremost, the Client Satisfaction Guideline will be applicable to all borrowers of Ambala International, the following code will be applicable in detail to the borrowers of Microfinance Scheme:

  1. The entire Client Satisfaction Guideline will be displayed on the board. The applicable interest rates and grievance redressed procedures will be displayed at all branch offices and on the company’s website.
  2. The loan application procedure and loan disbursement process will be kept sufficiently simple and the pre-determined time frame will be adhered to. The terms and conditions of the loan, service charge rates, processing costs and applicable insurance premiums included in the loan agreement/application will be made transparent to the borrowers.
  3. Procedure for recovering the loan amount without coercion:
    • The loan amount will be recovered only at the designated place at the meeting place of a society or through the app. If the borrowers fail to appear at the designated place, the working employees can go to the residence or work place of the borrowers and recover the loan amount.
    • The procedures as per the manual and the Client Satisfaction Guideline will together regulate the code of conduct of the employees working in Ambala International. The employees working in Ambala International will have to behave appropriately towards the borrowers and refrain from using any abusive language, coercive money recovery/improper techniques of money collection.

Ambala International | 2024. All rights reserved

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Courtesy By: S M Saifur Rahman