APPLICABILITY: This code applies to service providers/vendors engaged in recovery of dues from customers/ borrowers, through necessary mode as prescribed by the regulations (henceforth referred to as “Recovery Agent/RAs”), and includes all persons engaged directly or indirectly by the Recovery Agent for carrying out the services for OnionLife Private Limited (“OL/Company”) and/ or the non-banking financial companies that OL is engaged with as a lending service provider (“NBFC(s)”). Any Recovery Agent or his/her/its/their employees/representatives found to be violating this code may be terminated on immediate basis and such action taken be reported to OL from time to time by the Recovery Agent. Failure to comply with this requirement may result in permanent termination of the arrangement and/or other punitive measures as per terms of the agreement between the Recovery Agent and OL.
CODE OF CONDUCT The code lays down the responsibilities, Dos and Donts for the Collection or Recovery Agents while performing loan collection / recovery activities on behalf of the Company. Every Recovery Agent shall adhere to the code of conduct specified below:
1. No misleading statements/misrepresentations Recovery Agents shall not make any false/unauthorized commitment on behalf of OL and/ or NBFC(s) for any facility/service, including but not limited to waivers, change in repayment schedule, and/or any settlement, etc
2. Gifts & Bribes Recovery Agents must not accept gifts/ bribes of any kind from customers. Recovery Agent or his/her/its/their employees/representatives offered a bribe/gift of any kind by any customer/anyone else must report the incident to OL.
3. Handling of letters & other communication Any communication sent to the customer should be only in the mode and format approved by the OL and/ or NBFC(s), and carry content as approved by OL and/ or NBFC(s).
4. Confidentiality Recovery Agents shall at all times, maintain the utmost confidentiality regarding the contents of the information, referrals, potential clientele or of customers of NBFC(s) to which the Recovery Agents has access or is in receipt/possession, from any source whatsoever and shall not provide/disclose or otherwise make available all or any part of such Confidential Information to any person for any personal, business, commercial or other purposes, unless the prior written consent of OL and/ or NBFC(s) shall have been obtained.
5. Intellectual Property Rights Recovery Agents shall not violate any proprietary and intellectual property rights of OL and/ or NBFC(s) and/ or any third party, including without limitation, confidential relationships, patent, trade secrets, copyright and any other proprietary rights.
6. Undue Harassment Recovery Agents shall not resort to undue harassment to the customers, such as persistently bothering the borrowers at odd hours, use muscle power for recovery of loans, etc. It is required to strictly follow the applicable regulatory norms.
7. Call Recordings All calls being made to the customer(s) must be recorded as per the requirement of the code of conduct stipulated by Reserve bank of India. Recovery Agent or the agency employee should first identify herself/himself and the company/entity that they represent at the very beginning of every interaction with customers.
8. Privacy Customers are entitled to privacy and privacy policy to be applied to all conversations with agents of the company.
9. Code All collection and recovery activities should be unswerving with the guidelines provided in the document and in compliance with code for collections of dues stipulated (from time to time) by Reserve Bank of India. All emails, letters, and other communications must be in the format approved by collections and legal department.
10. Depositing of Repayment Any repayment collected from the customers must be strictly deposited within the timeline as instructed by NBFC(s) and/ or OL, as the case may be.
11. Where to get in touch with the customer The first visit/contact with the customer should be at his/her place of residence or on his/her mobile. When the collection unit is unable to contact the customer at his residence/ mobile, other telephone numbers like place of occupation may be used or the customer may be contacted at his/her other address or number/through customer/s or reference.
12. Alternative Customer requests that calls/visits to place of work be stopped are to be honored, if he/she provides a suitable alternate where he/she may be reached during collection working hours. Such customers should be asked to provide an alternate address/phone number where they may be reached
13. Information Customer’s questions should be answered in full. They should be provided with information requested, given assistance and attempt to resolve the issues within the permitted parameters if any. Accounts with unresolved issues are to be escalated to line managers. In case the customer or related party requests to speak to the supervisor the same should be honored.
The RAs engaged by the Company must adhere to the below mentioned guidelines (if and as applicable) in the course of performing their duty as RA:
- Customers should be contacted at an appropriate time.
- Customer privacy should be respected.
- Interaction with the customer should be in a polite and civilized manner.
- Customer requests to avoid calls at a particular time should be honored as far as possible.
- Customer should be provided with the information regarding his dues.
- All assistance should be given to resolve disputes or differences in a mutually acceptable and in a normal manner.
- During the visit to the customer‘s place/ place of work for collection of dues, decency and decorum should be maintained.
- Inappropriate occasions such as bereavement in the family or such other calamitous occasions should be avoided for making calls/ visits to collect dues.
- Strictly avoid any appearance which may suggest any criminal intimidation or threat or violence.
- RA or its employee/s while collecting the amount due should not:
- Resort to any false, deceptive or misleading representation,
- Resort to intimidation or harassment of any kind, either verbal or physical, against any person in their debt collection efforts.
- Resort to any acts intended to humiliate publicly or intrude the privacy of the customer’s family members, referees and friends.
- Enter customer’s residence/ place of work against his/her wish or when customer is not found during a visit.
- Send inappropriate messages either on mobile or through social media.
- Make threatening and/ or anonymous calls, persistently calling the borrower and/ or calling the borrower before 8:00 a.m. and after 7:00 p.m. for recovery of overdue loans
- Confine the customer illegally at his residence/ place of work during a visit
- Falsely represent or imply that he or she is connected with or affiliated with any of the governmental or judicial authority,
- Falsely represent the character, amount, or legal status of the debt.
- Divulge customer information to any person other than the customer.
- Abstain from using any identification which can lead to wrong representation. In case of non-adherence to above terms, agency will be solely responsible for consequences, if any, arising therefrom.
- Customer should be contacted ordinarily at the place of his choice and in the absence of any specified place at the place of his residence and if unavailable at his residence, at the place of business/ occupation.
- RA or their employees should be appropriately dressed and well groomed.
- Reasonable notice would be given before repossession of security and its realization.
- RA & their employees must discharge their duties responsibly as per the necessary guidance received from the Company.
- If the customer declines to pay, consequences of such decision may be explained to him/her:
- Impact on Credit History;
- Possible inclusion in repository of negative data base;
- Possible Legal actions and its ramifications;
- Costs and consequences there off in case of a legal action; and/or
- Further denial to pay in such cases the case may be referred to line managers.
- RA or their employees should adhere to Fair Practice Code available on their Company website.
Customer Communication Guidelines for RAs In addition to the Code of Conduct guidelines, the following guidelines should be adhered to by all the RAs authorized to represent the Company and/ or NBFC(s) for collection of dues from the customers. In case of failure to comply with these guidelines, an appropriate and strict disciplinary action shall be taken against such person.
- Treat the customer with dignity.
- During all the conversations – communication (whether over telephone / in writing / during visits) professionalism and transparency should be displayed and the RA should not treat it as personal.
- Preferably use the language which the customer is comfortable in.
- Strictly avoid use of tough / aggressive / threatening / abusive language, either verbal or in writing. Care should be taken to strictly avoid threaten/harassing the customer.
- In case any customer resorts to abusive or threatening tactics, the RA should leave the customer premises/ politely disconnect the call and promptly inform the name of such customer to the Company.
- All visits by the RA and/ or or his/her/its/their employees/representatives agent should be done at a designated or mutually agreed upon place and the visit to be documented as a trail for future correspondence.
- The purpose of a collection call is to bring to the customer’s notice the obligation to pay and to seek a commitment to pay on a specified date. Once a promise is elicited, a call/visit may be made to serve as a reminder and for confirmation of payment.
In the event a commitment is not forthcoming or has been broken, calls/visits may be made at reasonable frequency, based on amount owed, product, ageing of debt and account history, so is the case with field visits. Excessive number of calls or visits closely bunched together in the same day may be construed as harassment. - RA is not authorized to send any written communication to customers by any mode (e-mail, letter, electronic messages, social media, etc.) to the Customers. If RA is required to communicate on e-mails / letters / electronic messages, then the RA should send a request to the Company along with reasons and requirements for any written communication.
- RA should not promise or commit any type of written communication on behalf of the Company and/ or NBFC(s).
- RA should not mislead the customer on the action proposed and consequences thereof.
- RA should not mislead the customer about their true business or organization name, or falsely represent or imply that he/she is an attorney, government official, officer of any Court, Police Station, etc.
- Without prior permission from the Company and/ or NBFC(s), RA should not make any promise or commitment to any customer on behalf of Company and/ or NBFC(s).
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| Maximize effectiveness |
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