Goyal Associates Ltd. would release securities, if any lying with it 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 that Goyal Associates Ltd. may have against the customers/borrowers. If such right of set off is to be exercised, the customers/borrowers would be given notice about the same with full particulars about the remaining claims and the conditions under which Goyal Associates Ltd. is entitled to retain the securities till the relevant claim is settled/paid.
a) The Company would lay down appropriate internal guidelines and procedures for determining interest rates and processing and other charges, keeping in view the guidelines indicated in the Fair Practices Code.
b) The Company would ensure that it will not unduly charge excessive interest rates to its borrowers. The interest rate for its customers/borrowers would be arrived at taking into account the broad parameters such as risk profile of the customers/borrowers, interest rate trends prevailing in the money market, cost of borrowings, primary and collateral security offered by customers/borrowers, structure of the deal, interest rate charged by competitors and the historical track record of the customers/borrowers with Goyal Associates Ltd.
c) Interest rates would be intimated to the customers/borrowers at the time of sanction/ availing of the loan. The rate of interest would be annualized so that the borrower is aware of the exact rates that would be charged to the account.
d) The Company would not charge foreclosure charges / pre-payment penalties on all floating rate term loans sanctioned to individual borrowers.
i) At present scenario of competitive lending business, excellent customer service is an important tool for sustained business growth. Customer complaints are part of the business life in any corporate entity.
ii) At Goyal Associates Ltd., Customer service and satisfaction are our prime focus. We believe that providing prompt and efficient service is essential not only to attract new Customers, but also to retain existing ones. Goyal Associates Ltd. has come up with a lot of initiatives that are oriented towards providing a better Customer experience and an efficient grievance redressal mechanism with a view to providing enhanced experience to our Customers. In order to make Goyal Associates Ltd. redressal mechanism more meaningful and effective, a structured system has been built. This system would ensure that the redressal sought is just and fair and is within the given frame-work of rules and regulation.
The customer/borrower may contact Goyal Associates Ltd. officer in case of any query/problem or grievance. The Customer/borrower can: write an email to: email@example.com.
The office would be operational between 10.00 am to 6.00 pm on Monday to Friday (except public Holiday)
If the customer/borrower is not satisfied with the response received from the Company, he/she may raise the issue with Grievance Redressal Officer. The name and address and contact details are as furnished below.
5th Floor, Dwaraka Central, Jai Hind Enclave, Hyderabad –
Goyal Associates Ltd. shall endeavor to respond to each compliant within one month from the date of receipt of the Complaint.
If the Complaint is not resolved within a period of 30 (thirty)
days, the customer/borrower may appeal to:
Non-Banking Supervision Department, Reserve Bank of India,
3rd Floor, RBI Byculla Office Building
Opp. Mumbai Central Railway Station,
Byculla, Mumbai-400 008
Ph No. 022-2302-8140
An annual review of the compliance with the FPC and the functioning of the grievances’ redressal mechanism would be conducted. A consolidated report of such review would be submitted to the Board of Directors every year.