POLICIES | Muthoot Money Ltd

Fair Practices Code
Code of Conduct
Vigil Mechanism
EMI Moratorium FAQ
Charges & Fees

This Fair Practices Code has been framed with a view to providing to all its stake holders, especially customers an effective overview of the practices followed by the Company while offering its products and services. This Fair Practices Code has been prepared taking into account the “Guidelines on Fair Practices Code for NBFCs” issued by the Reserve Bank of India and is updated from time to time and aims to enable customers to take informed decisions in respect of the facilities and services offered by the Company.

OBJECTIVES OF THE CODE

This Code has been drawn aiming to:

Adopt the best practices followed by entities in the financial and similar service sector while dealing with customers.
Provide to the customers effective overview of practices followed by the Company in respect of financial facilities and services offered by the Company to its Customers
Enable customers to take informed decision about the financial facilities and services offered by the Company.
Promote good, fair, transparent and legally tenable practices by setting minimum standards in dealings with customers.
Enable customers to have better understanding of what they can reasonably expect of the services offered by the Company.
Reckon with market forces, through competition and strive to achieve higher operating standards.
Foster fair and cordial relationship between the customers and the Company.

The Fair Practices Code adopted by the Company covers the following areas.

Applications for loans and their processing.
Loan appraisal and terms/conditions.
Disbursement of loans, including changes in terms and conditions.
Disclosures about interest rates and approach for gradation of risk.
Policy on KYC, Appraisal, insurance, storage of securities, Auction etc.
Confidentiality
Grievance redressal mechanism
General Provisions

Declarations & Commitments

The Company undertakes to abide by all applicable laws, regulations and guidelines passed/issued by the Regulators(Reserve Bank of India, SEBI, IRDA etc) and other competent authorities such as Government, Local Authority etc.
The Company commits itself to full customer satisfaction through efficient, professional and courteous services across all its offices.
The Company shall consistently strive to meet with and improve upon the internally set benchmarks and practices and be ahead of the standards prevalent in the industry.
The Company undertakes not discriminate customers on grounds of religion, caste, gender or language.
The Company will provide clear and full information about its products and services to its customers/prospective customers and will not resort to any misleading or potentially misguiding advertisement or publicity.
The Company undertakes to desist from introducing any products/services having elements of hidden charges or lack of transparency.
The Company undertakes not to take advantage of any unintentional or clerical error made by the customer while transacting business.
The Company shall display the FPC on its website and also make available to the Customer on request, a copy of the FPC on demand.

APPLICATIONS FOR LOANS AND THEIR PROCESSING

All communications to the borrower shall be either in English or in vernacular language or in a language as understood by the borrower
Loan application forms issued by the Company shall include necessary information affecting the interests of the borrower, which will enable him to take an informed decision by comparing the terms and conditions with that of other similar NBFCs, and shall also indicate the documents required to be executed/submitted by the borrower.
If any additional documents/informations are required from the Customer, the same shall be communicated to the Customer immediately.
In case of all loans, other than gold loans which are sanctioned on the same day of receipt of the application, an acknowledgement will be given to the applicant, also indicating the probable date by which a decision regarding sanction of the loan will be intimated to him. The acknowledgement can also be given in the form of a tear off from the application form or through an SMS message.

LOAN APPRAISAL AND TERMS AND CONDITIONS

The borrower shall be given a loan sanction letter and copy of the loan document together with annexures/enclosures quoted therein in vernacular language or a language as understood by the borrower which shall include the details of the loan such as amount sanctioned, annualized interest rate, method of application thereof and any other terms and conditions.
The penal interest that will be charged for late payment shall be mentioned in bold letters in the sanction letter/loan document.
An acknowledged copy of the sanction letter shall be kept as part of the document.
Subject to receipt of all the requisite information and completion of documentation and creation of charge over the security, loan applications shall be disposed of in the normal course on the same day of receipt of the application form complete in all respects. However, if there is any delay in sanctioning the loan beyond the period of 1 day due to reasons like field verification etc, customer shall be given an acknowledgement for receipt of the application indicating the time frame within which the loan application will be disposed of. The customer shall be kept informed of the status of his application.

DISBURSEMENTS OF LOANS INCLUDING CHANGES IN TERMS AND CONDITIONS

The loan shall be disbursed on executing the necessary documents and completion of the formalities regarding creating a charge over the security offered by the borrower. Any change in the terms and conditions including interest rates, service charges, prepayment charges etc. shall be informed to the borrower in the vernacular or a language known to the borrower. Any changes in interest rates and charges effected shall be only prospective. A suitable condition in this regard shall be incorporated in the loan document obtained from the borrower.
Decision to recall/accelerate payment or performance shall be as per the covenants in the loan document.
The Company shall release all securities on repayment of all dues or on realization of the outstanding amount of loan subject to any legitimate right or lien for any other claim the Company 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.

Disclosures about interest rates and approach towards gradation of risks.

RATE OF INTEREST

The Company shall frame appropriate internal policies and procedures for determining the interest rates and processing and other charges, if any and also ensure that they are not excessive. The Company shall, at the time of disbursal, ensure that the interest rate and other charges, if any, on loan and advances are in strict adherence to above referred internal policies and procedures.
The rate of interest will be annualized rates so that the borrower is aware of the exact rates that would be charged on the loan.
Interest will be charged on the daily balance outstanding at monthly rest on the basis of the actual number of days from the date of availing the loan to the date of closure of the loan.
The information published in the website shall be updated whenever there is change in the rates.
The rate of interest and the approach for gradation of risk and rationale for charging different rates of interest to different schemes shall be disclosed in the application form and also communicated explicitly in the sanction letter issued to the borrower.
Rebate on interest rates meant to encourage timely periodical payment of interest under each scheme, levying of additional interest for discouraging loans from crossing the sanctioned period etc., shall be mentioned clearly in the loan agreement.
No pre-payment penalties/foreclosure charges will be levied on gold loans in the normal course. In case such charges are applicable for any scheme, it will be disclosed in the sanction letter.
Changes in Rate of Interest shall be effected prospectively.

Method of Calculation of Interest:

The interest shall be calculated for the actual number of days the loan remains outstanding from the date of loan disbursement to the date of closure. However, if the borrower closes the loan within 7 days from the date of disbursement, then a minimum interest for 7 days shall be payable for gold loan schemes where the minimum effective interest rate is more than 11%. For gold loan schemes with minimum effective interest rate is 11% and below, a minimum interest for 15 days shall be payable, if the borrower closes the loan within 15 days from the date of disbursement. If the amount of interest so calculated is less than Rs.50/- then a minimum interest of Rs.50/- will be charged.

A rebate in interest rate may be provided for encouraging timely repayment of interest or closure of the loan on or before the specified tenor as per different slabs built into each scheme.

POLICY ON KYC, APPRAISAL, INSURANCE, STORAGE OF SECURITIES, AUCTION ETC.

The Company shall put in place a policy duly approved by the Board covering the following aspects:

CONFIDENTIALITY

Unless authorized by the borrower, the Company will treat all personal information as private and confidential.
The Company may not reveal transaction details of the borrowers to any other persons except under following circumstances.
- If the Company is required to provide the information as per regulatory directives to any statutory or regulatory body or bodies.
- If arising out of a duty to the public to reveal the information.
- If it is in the interest of the borrowers to provide such information (eg. Fraud prevention)
- If the borrower has authorized the Company to provide such information to its group/associate/entities or Companies or any such person/entity as specifically agreed upon.

CUSTOMER'S GRIEVANCE REDRESSAL MECHANISM

Towards ensuring redressal of disputes arising out of decisions of the functionaries of the Company, the following mechanism is put in place:

GENERAL PROVISIONS

The Company shall display the normal business hours at the respective Branches, the list of holidays and notify the changes, if any, by way of a notice displayed in the premises of the branch or through press notification.
Personal information of the customer will not be shared with unauthorized persons or agencies or third parties by the Company. However, the Company will be bound to honour and comply with legal or regulatory requirements, if any, in this matter obligating it to part with such information even without notice to the customer.
The Company shall refrain from interfering in the affairs of the borrower except for the purposes provided in the terms and conditions of the letter of undertaking (unless new information, not earlier disclosed by the borrower, has come to the notice of the Company).
The Company will not entertain any request for transfer of borrowal accounts as this is not practical in the case of loans granted against collateral of gold jewellery pledged.
In the matter of recovery of loans, the Company shall not resort to undue harassment viz. persistently bothering the borrowers at odd hours, use of muscle power for recovery of loans etc. The staff of the Company shall be adequately trained to deal with the customers in an appropriate manner so as to ensure proper behavior.
The Company will call delinquent customers between 0900 hrs to 1800 hrs unless special circumstances of the borrower’s business require to call them otherwise outside the hours mentioned.

PERIODICAL REVIEW OF THE FAIR PRACTICES CODE AND FUNCTIONING OF THE GRIEVANCES REDRESSAL MECHANISM

A periodical review of the Fair Practices Code and functioning of the grievances redressal mechanism at various levels of management would be undertaken by the Company at yearly intervals and a consolidated report of such reviews shall be submitted to the Board of Directors.

CODE OF CONDUCT FOR DIRECTORS & SENIOR MANAGEMENT OF MUTHOOT MONEY LIMITED.

The Code of Conduct for Directors & Senior Management of Muthoot Money Limited (“theCode”) helps to the standards of business conduct of Muthoot Money Limited (“the Company”) and ensures compliance with various legal requirements which governs the operations of the Company. The purpose of code is to promote ethical conduct and to deter wrongdoing so as to protect the best interest of the company and its stakeholders. The matters covered in the Code are of utmost importance to the Company, our shareholders and our business associates and partners. Further, these are essential so that we can conduct our business in accordance with stated values.

Introduction

The members of the Board of Directors of the Company and other Senior Management Officials acknowledge and accept the scope and extent of their duties as Directors and Senior Management Officials of the Company (“the Officers”). They have a responsibility to carry out their duties in an honest and businesslike manner and within the scope of their authority, as set forth in the laws of India as well as in the Memorandum and Articles of Association of the Company. They are entrusted with and are responsible for the oversight of the assets and business affairs of the Company in an honest, fair, diligent and ethical manner. As the Officers of the Company, they must act within the bounds of the authority conferred upon them and with the duty to make and enact informed decisions and policies in the best interests of the Company. The Board of Directors has adopted the following Code of Conduct and the Directors and senior managers are expected to adhere to the standards of care, loyalty, good faith and the avoidance of conflicts of interest that follow.

The Code of Conduct

Board Members and Senior Managers will:

Act in the best interests of, and fulfill their fiduciary obligations to the Company;
Act honestly, fairly, ethically and with integrity;
Conduct themselves in a professional, courteous and respectful manner and not take improper advantage of their position;
Will deal fairly with all stakeholders;
Comply with all applicable laws, rules and regulations;
Act in good faith, responsibly, with due care, competence and diligence, without allowing their independent judgment to be subordinated;
Not use the Company’s property or position for personal gain;
Not use any information or opportunity received by them in their capacity as Directors or senior management in a manner that would be detrimental to the Company’s interests;
Act in a manner to enhance and maintain the reputation of the Company;
Disclose any personal interest that they may have regarding any matters that may come before the Board and abstain from discussion, voting or otherwise influencing a decision on any matter in which the concerned Director has or may have such an interest;
Abstain from discussion, voting or otherwise influencing a decision on any matters that may come before the board in which they may have a conflict or potential conflict of interest;
Not to serve as a Director or otherwise be in employment or engage in providing services to a Company that competes with the Company.
Respect the confidentiality of information relating to the affairs of the Company acquired in the course of their service as Directors or senior management, except when authorized or legally required to disclose such information;
Not use confidential information acquired in the course of their service as Directors or senior management for their personal advantage or for the advantage of any other entity;
Help create and maintain a culture of high ethical standards and commitment to Compliance; Adopted by the Board of Directors of Muthoot Money Limited at their meeting held on July 23, 2010

VIGIL MECHANISM / WHISTLE BLOWER POLICY

1) PREFACE

As an employee friendly organization, Muthoot Money Pvt Ltd believes in the conduct of the affairs of its constituents in a fair and transparent manner, by adopting the highest standards of professionalism, honesty, integrity and ethical behavior. We are committed to conducting business with integrity and in accordance with all applicable laws and regulations.In its endeavor to provide its employee a secure and a fearless working environment, MMPL has established the "Whistle Blower Policy” (‘‘the policy’’)

2) PURPOSE

A whistle-blowing or reporting mechanism as such set out in the Policy, invites all employees to act responsibly to uphold the reputation of the Company and its subsidiaries. The Policy aims to ensure that serious concerns are properly raised and addressed and are recognized as an enabling factor in administering good governance practices.

3) DEFINITIONS

The definitions of some of the key terms used in this Policy are given below. Capitalized terms not defined herein shall have the meaning assigned to them under the Code.

"Audit Committee" means the Audit Committee constituted by the Board of Directors of the Company in accordance with Companies Act,2013.
"Whistle Blower Committee" means the Committee constituted to deal with complaints under this Policy.
"Employee" means every employee of the Company(permanent & contractual employees whether working in India or abroad), including the Directors in the employment of the Company.
"Code" means the Code of Conduct of the company.
"Investigators" or “the Investigator” mean those person(s) authorized, appointed, consulted or approached by the Whistle Blower Committee and includes the auditors of the Company and thepolice.
"Protected Disclosure" means any communication made in good faith that discloses or demonstrates information that may evidence unethical or improper activity.
“MMPL” or “the company” means Muthoot Money Pvt Ltd.
"Subject" means a person against or in relation to whom a Protected Disclosure has been made or evidence gathered during the course of an investigation.
"Whistle Blower" means an Employee making a Protected Disclosure under this Policy.

4) SCOPE

The Whistle Blower’s role is that of a reporting party with reliable information. They are not required or expected to act as investigators or finders of facts, nor would they determine the appropriate corrective or remedial action that may be warranted in a givencase.
Whistle Blowers should not act on their own in conducting any investigative activities, nor do they have a right to participate in any investigative activities other than as requested by the Investigator or the Whistle Blower Committee or the Investigators.
Protected Disclosure will be appropriately dealt with by the Whistle Blower Committee.

5) APPLICABILITY

The policy should be applicable to;

The Directors of the company
All permanent & contractual employees of the company based in India or outside
Employees of other agencies deployed for the Company
Contractors, vendors, suppliers or agencies (or any of their employees)
Customers of the Company
Any other person having direct association with the Company

6) DISQUALIFICATIONS

While it will be ensured that genuine Whistle Blowers are accorded complete protection from any kind of unfair treatment as here in set out, any abuse of this protection will warrant disciplinary action.
Protection under this Policy would not mean protection from disciplinary action arising out of false or bogus allegations made by a Whistle Blower knowing it to be false or bogus or with a mala fide intention.
Whistle Blowers, who make three or more Protected Disclosures, which have been subsequently found to be malafide, frivolous, baseless, malicious, or reported otherwise than in good faith, will be disqualified from reporting further Protected Disclosures under this Policy. In respect of such Whistle Blowers, the Company/Whistle Blower Committee would reserve its right to take/recommend appropriate disciplinary action.

7) WHISTLE BLOWER COMMITTEE

The Whistle Blower Committee comprises of following personnel:

The Chairman- Board of Audit Committee (Chairman of WBC Committee)
Chief Operating Officer
Head- Human Resources
Head- Risk Management
Head- Legal & Compliance
Head- Internal Audit
The Committee with a minimum of 2/3 quorum to meet 24 hours from the date of receipt of a complaint under the Policy. Such meetings shall be conducted within normal working hours only.

8) PROCEDURE

Protected Disclosures should preferably be reported in writing so as to ensure a clear understanding of the issues raised and should either be typed or written in a legible hand writing in English or in the regional language of the place of employment of the Whistle Blower.

All Protected Disclosures may be addressed to anyone of the following offices;

The Chairman Board of Audit Committee Muthoot Money Pvt.Ltd, Muthoot Chambers, Kurians Tower Banerji Road, Ernakulam, Kerala – 682 018	The Chief Operating Officer Muthoot Money Pvt Ltd, #3-6-2/1/3, 3^rd Floor, Grandpa’s Royal Mansion, Liberty X Road, Himayath Nagar, Hyderabad, Telangana - 500 029
The Head Internal Audit Department Muthoot Money Pvt Ltd, #3-6-2/1/3, 3^rd Floor, Grandpa’s Royal Mansion, Liberty X Road, Himayath Nagar, Hyderabad, Telangana-500 029	Employees may also write to whistleblower@muthootmoney.in

The Protected Disclosure should be forwarded under a covering letter. The Chairman of the WBC Committee shall detach the covering letter and discuss the Protected Disclosure with Members of the WBC Committee and if deemed fit, forward the Protected Disclosure to the Investigator of the Company for investigation.
Protected Disclosures should be factual and not speculative or in the nature of a conclusion, and should contain as much specific information as possible to allow for proper assessment of the natureand extent of the concern and the urgency of a preliminary investigative procedure.
The Whistle Blower need not disclose his/her identity while making Protected Disclosure.

9) INVESTIGATION

All Protected Disclosures reported under this Policy will be thoroughly investigated by the Investigator of the Company who will investigate / oversee the investigations under the authorisation of the WBC Committee.
Protected Disclosures involving or relating to the Investigator which in the opinion of the WBC Committee may hamper the independence of the Investigator in conducting the investigation will be investigated by the WBC Committee itself.
The Investigator / WBC Committee may at its discretion, consider involving any Investigators for the purpose of investigation.
The decision to conduct an investigation taken by the WBC Committee is by it self not an accusation and is to be treated as aneutral fact - finding process. The outcome of the investigation may not support the conclusion of the Whistle Blower that an improper or unethical act was committed.
The identity of a Subject will be kept confidential to the extent possible given the legitimate needs of law and the investigation.
Subjects will normally be informed of the allegations at the outset of a formal investigation and have opportunities for providing their inputs during the investigation.
Subjects shall have a duty to co-operate with the Investigator / WBC Committee or any of the Investigators during investigation to the extent that such co-operation sought does not merely require them to admit guilt.
Subjects have a right to consult with a person or persons of their choice, other than the Investigator/ Investigators and /or members of the WBC Committee and/or the Whistle Blower. Subjects shall be free at any time to engage counsel at their own cost to represent them in the investigation proceedings.
Subjects have a responsibility not to interfere with the investigation. Evidence shall not be with held, destroyed or tampered with, and witnesses shall not be influenced, coached, threatened or intimidated by the Subjects.
Unless there are compelling reasons not to do so, Subjects will be given the opportunity to respond to material findings contained in an investigation report. No allegation of wrong doing against a Subject shall be considered as maintainable unless there is good evidence in support of the allegation.
Subjects have a right to be informed of the outcome of the investigation. If allegations are not sustained, the Subject should be consulted as to whether public disclosure of the investigation results would be in the best interest of the Subject and the Company.
The investigation shall be completed normally within 45 days of the receipt of the Protected Disclosure.

10) PROTECTION

No unfair treatment will be meted out to a Whistle Blower by virtue of his/her having reported a Protected Disclosure under this Policy. The Company, as a policy, condemns any kind of discrimination, harassment, victimization or any other unfair employment practice being adopted against Whistle Blowers. Complete protection will, therefore, be given to Whistle Blowers against any unfair practice like retaliation, threat or intimidation of termination/suspension of service, disciplinary action, transfer, demotion, refusal of promotion, or the like including any direct or indirect use of authority to obstruct the Whistle Blowers right to continue to perform his duties/functions including making further Protected Disclosure. The Company will take steps to minimize difficulties, which the Whistle Blower may experience as a result of making the Protected Dscisure. Thus, if the Whistle Blower is required to give evidence in criminal or disciplinary proceedings, the Company will arrange for the Whistle Blower to receive advice about the procedure,etc.
The identity of the Whistle Blower shall be kept confidential to the extent possible and permitted under law. Whistle Blowers are cautioned that their identity may become known for reasons outside the control of the Investigator / WBC Committee (e.g. during investigations carried out by Investigators).
Any other Employee assisting in the said investigation shall also be protected to the same extent as the Whistle Blower.

11) INVESTIGATORS

Investigators are required to conduct a process towards fact-finding and analysis. Investigators shall derive their authority and access rights from the WBC Committee when acting within the course and scope of their investigation.
Technical and other resources may be drawn upon as necessary to augment the investigation. All Investigators shall be independent and unbiased both in fact and as perceived. Investigators have a duty of fairness, objectivity, thoroughness, ethical behavior, and observance of legal and professional standards.
Investigations will be launched only after a preliminary review which establishes that:
- The alleged act constitutes an improper or unethical activity or conduct, and
- either the allegation is supported by information specific enough to be investigated, or matters that do not meet this standard may be worthy of management review, but investigation itself should not be undertaken as an investigation of an improper or unethical activity.

12) DECISION

If an investigation leads the WBC Committee to conclude that an improper or unethical act has been committed, the WBC Committee shall direct the management of the Company to take such disciplinary or corrective action as the WBC Committee deems fit. It is clarified that any disciplinary or corrective action initiated against the Subject as a result of the findings of an investigation pursuant to this Policy shall adhere to the applicable personnel or staff conduct and disciplinary procedures.

13) REPORTING

The Investigator shall submit a report to the WBC Committee on a regular basis about all Protected Disclosures referred to him/her since the last report together with the results of investigations,if any.
A quarterly report about the functioning of the Whistle Blower Mechanism shall be placed before the board of Audit Committee. Status report on the total number of compliant received if any during the period with summary of the findings of the investigator and corrective steps taken should be send to the Board of Directors of the Company.

14) RETENTION OF DOCUMENTS

All Protected Disclosures in writing or documented along with the results of investigation relating thereto shall be retained by the Company for a minimum period of seven years.

15) POLICY NOTIFICATIONS

All employees shall be notified of the existence and contents of the Whistle Blower Policy by Human Resource Department and all other stakeholders including business partners and vendors by the respective HOD who interacts with the stakeholders in relation to the operation of the Company.

16) REWARDS

For significant disclosures, Management at their sole discretion may offer ‘Rewards to the Whistle Blower’ in the form of monetary awards and or Career path advancement, based on skills and capability.

17) AMENDMENT

The Company reserves its right to amend or modify this Policy in whole or in part, at any time without assigning any reason whatsoever. However, no such amendment or modification will be binding on the employees and directors unless the same is notified to the Employees in writing.

1. What is the EMI moratorium provided for loans under COVID 19 – RBI’s regulatory package?

The prevailing situation may pose a huge challenge for people at large. As a measure of solidarity, RBI has permitted all Indian Banks / Indian Financial Institutions to offer its customers up to 3 months moratorium (holiday) on their EMI payments falling due between 1st March 2020 to 31st May 2020. Essentially, it means that the customer will not be treated as a defaulter even if he does not pay his EMI until 31st Aug 2020.

2. Who is eligible?

All MML customers who have availed of any instalment loan prior to 1st March 2020 and is due during the 3 months moratorium period are eligible the account is standard (i.e., not in NPA) as on 1st March 2020.

3. What will happen if I choose the EMI Moratorium?

If you choose EMI moratorium, MML will not collect EMI Payments on your loan till 31st Aug 2020.

4. After availing this scheme for 3 months, will we have to pay the interest for these 3 months also?

Interest will continue to accrue on the principal outstanding for the period of the moratorium at the contracted rate of the loan and same to be paid along with EMI due of June 2020 or the loan tenure will get extended by the corresponding period for which the moratorium has been availed with an increased EMI.

For e.g.: if the EMI for the month of March 2020 has been paid and moratorium for April & May 2020 has been availed, then the loan tenure will be extended by up to 3 months. The EMI will remain the same

5. If I do not want the EMI moratorium, what should I do?

If you do not want the EMI moratorium, no further action is required from your side. We will continue to bank your repayment instructions.

Is it mandatory to avail of this scheme?

We encourage customers with adequate funds to continue paying during this period to avoid the accrued interest and/or tenor extension.

6. Why was my account debited when the RBI has announced a moratorium?

Granting of the Moratorium is at the discretion of MML. We understand that all our customers may not opt for the Moratorium given that there is an additional levy of accrued interest payable under the terms of the Moratorium. If you wish to opt for the Moratorium, we would process your request and assess the same.

7. What charges will I pay, if I avail of this EMI moratorium?

If you avail the EMI moratorium, there will be a levy of interest at the contracted rate of the loan for the period of EMI moratorium on the loan outstanding. Such interest will be collected by extending the original tenor of the loan accordingly.

8. How do I avail this EMI moratorium?

Post-Lockdown our representative will be contacting you and will assess your financial condition basis which Moratorium will be taken up.

Please visit our nearest branch by providing

Your name
Loan number
Contact number

9. I have more than one loan from MML. Can I get moratorium for both the loans?

Yes, you can opt for a moratorium for each loan that you have availed from us. Please remember that accrued interest for the EMI moratorium period will be applicable for each loan separately.

10. What if I have already paid my EMIs and would like to avail the moratorium till 31st May 2020.

You can avail of the moratorium benefits only for the unpaid EMIs. Please follow the process given above in Sr. No. 7 for availing the moratorium

11. Does the moratorium affect my Credit Rating?

No. Opting for the EMI moratorium will not affect your Credit Rating or Score during the moratorium period, i.e. until 31st May 2020. However, post the moratorium any delay in repayment of your EMI shall lead to the loan being treated as overdue and the same will be reported to the consumer credit bureaus. However, if there have been any principal or interest payment overdue prior to 1st March 2020 the adverse impact on credit history or credit score for such defaults will continue.

12. Is the Moratorium an interest waiver scheme?

No. It is not an interest waiver scheme, only a deferment scheme, i.e. you can pay your instalments along with accrued interest at a later date. However, interest during the moratorium will continue to be charged on the loan outstanding.

13. Will, there be any change in Terms & Conditions of my loan agreement

No. There will be no change in Terms & Conditions of the loan agreement, apart from the Interest accrued on account of the moratorium which will lead to change in tenor and /or change in EMI.

14. If I have already paid the EMI for March 2020, will the scheme be available to me for the next 3 months? Can I ask for a refund or will be refunded the EMI paid in March 2020, so that I can avail this scheme?

No. The EMIs already paid will not be refunded. Also, you can avail this scheme for your next 2 instalments, till 31st May 2020.

15. Will we have to pay all EMIs together, after 3 months?

No. Your loan tenure will automatically be extended by 3 months or more if you opt for Moratorium. For e.g. If you have availed a loan before March 2020 and your last EMI was supposed to be paid by December 2020, then after granting of the moratorium scheme, your last EMI will be due in March 2021.

16. Which is beneficial – paying regular EMI or availing the EMI deferment scheme?

If customers have adequate cash-flows to pay the regular EMIs, then we strongly urge you to not apply for a moratorium, as it will lead to additional EMI payments in the future.

17. I have issued NACH mandate to MML to debit my bank account for EMI recovery. Do I have to cancel this mandate with my bank?

No, there are no separate instructions required from your end. It will be managed by MML upon receipt of a confirmation from your end to avail the moratorium.

18. Will penal interest (due to deferment) be levied for the instalments which are falling due between 1st March 2020 to 31st Aug 2020.

No, penal interest will not be charged due to deferment of the instalments which are falling due between 1st March 2020 and 31st Aug 2020. However, interest would continue to accrue on the outstanding principal at the applicable rate of interest for the loan.

19. Is it OK if I continue to pay my instalment/interest and not apply for moratorium/deferment?

Yes. Please continue to pay if you can afford to. It will help you in avoiding paying accrued interest during the moratorium period

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(I) CHARGES/RATES

DOCUMENTATION CHARGES

S NO	PRODUCT NAME	DOCUMENTATION CHARGES
1	NEW CAR	Rs. 5000/- + GST @ 18% = 5900/-
2	NEW CE	Rs. 10000/- + GST @ 18% = 11800/-
3	NEW CV	Rs. 10000/- + GST @ 18% = 11800/-
4	USED CAR	Rs. 1350/- + GST @ 18% = 1593/-
5	USED CE	Rs. 2500/- + GST @ 18% = 2950/-
6	USED CV	Rs. 2500/- + GST @ 18% = 2950/-
7	NEW TW	Rs. 1400/- INCLUDING GST

MANAGEMENT FEE WAIVER

S NO	PRODUCT NAME	MANAGEMENT FEE
1	NEW CAR	1.50% of Loan Amount + GST @ 18%
2	NEW CE	1.25% of Loan Amount + GST @ 18%
3	NEW CV	1.25% of Loan Amount + GST @ 18%
4	USED CAR	1.50% of Loan Amount + GST @ 18%
5	USED CE	1% of Loan Amount + GST @ 18%
6	USED CV	1% of Loan Amount + GST @ 18%
7	NEW TW	3.5% Of Loan Amount (Including GST)
Note : For TW loans admin charges Rs.900/- Including GST

1	Pre-Closure charges	5% on principal outstanding
2	DPI	3% per month
3	Cheque bounce charges	Rs 1000/-
4	BPI ( broken period interest)	This will be charges as per the IRR charged and disbursement date.
5	Postponement of EMI charges	As per the interest rate applicable & disbursement date
6	Cheque Swapping Charges	Rs 1000
7	SOA charges(First statement is Free) From 2nd statement onwards	2SO+GST
8	Duplicate NOC charges	500+GST
9	Handling charges	Rs 100
	* Cancellation charges Scenario	Charges - One time
10	Cheque issued but not handed over to Customer / Dealer	Rs 2000/-
11	Cheques issued & Handed over to Customer and Dealer	Rs 5OOO/-
12	Proposal canceled before emi due date	Rs 5OOO/-
13	Canceled after 1st cheque presentation	Preclosure charges will be applicable.
14	Penal Charge	Delay in payment of installment(s) shall attract Penal Charge of 0.1% + GST per day per installment on the due installment amount from the respective due date until the date of receipt of the full installment(s) amount.

(I) ఛార్జీలు / రేట్లు

DOCUMENTATION CHARGES

S NO	PRODUCT NAME	DOCUMENTATION CHARGES
1	NEW CAR	Rs. 5000/- + GST @ 18% = 5900/-
2	NEW CE	Rs. 10000/- + GST @ 18% = 11800/-
3	NEW CV	Rs. 10000/- + GST @ 18% = 11800/-
4	USED CAR	Rs. 1350/- + GST @ 18% = 1593/-
5	USED CE	Rs. 2500/- + GST @ 18% = 2950/-
6	USED CV	Rs. 2500/- + GST @ 18% = 2950/-
7	NEW TW	Rs. 1400/- INCLUDING GST

MANAGEMENT FEE WAIVER

S NO	PRODUCT NAME	MANAGEMENT FEE
1	NEW CAR	1.50% of Loan Amount + GST @ 18%
2	NEW CE	1.25% of Loan Amount + GST @ 18%
3	NEW CV	1.25% of Loan Amount + GST @ 18%
4	USED CAR	1.50% of Loan Amount + GST @ 18%
5	USED CE	1% of Loan Amount + GST @ 18%
6	USED CV	1% of Loan Amount + GST @ 18%
7	NEW TW	3.5% Of Loan Amount (Including GST)
Note : For TW loans admin charges Rs.900/- Including GST

1	Pre-Closure charges	5% on principal outstanding
2	DPI	3% per month
3	Cheque bounce charges	Rs 1000/-
4	BPI ( broken period interest)	This will be charges as per the IRR charged and disbursement date.
5	Postponement of EMI charges	As per the interest rate applicable & disbursement date
6	Cheque Swapping Charges	Rs 1000
7	SOA charges(First statement is Free) From 2nd statement onwards	2SO+GST
8	Duplicate NOC charges	500+GST
9	Handling charges	Rs 100
	* Cancellation charges Scenario	Charges - One time
10	Cheque issued but not handed over to Customer / Dealer	Rs 2000/-
11	Cheques issued & Handed over to Customer and Dealer	Rs 5OOO/-
12	Proposal canceled before emi due date	Rs 5OOO/-
13	Canceled after 1st cheque presentation	Preclosure charges will be applicable.
14	Penal Charge	Delay in payment of installment(s) shall attract Penal Charge of 0.1% + GST per day per installment on the due installment amount from the respective due date until the date of receipt of the full installment(s) amount.

This Code has been drawn aiming to:

The Fair Practices Code adopted by the Company covers the following areas.

CODE OF CONDUCT FOR DIRECTORS & SENIOR MANAGEMENT OF MUTHOOT MONEY LIMITED.

Introduction

The Code of Conduct

VIGIL MECHANISM / WHISTLE BLOWER POLICY

1) PREFACE

2) PURPOSE

3) DEFINITIONS

4) SCOPE

5) APPLICABILITY

6) DISQUALIFICATIONS

7) WHISTLE BLOWER COMMITTEE

8) PROCEDURE

9) INVESTIGATION

10) PROTECTION

11) INVESTIGATORS

12) DECISION

13) REPORTING

14) RETENTION OF DOCUMENTS

15) POLICY NOTIFICATIONS

16) REWARDS

17) AMENDMENT

1. What is the EMI moratorium provided for loans under COVID 19 – RBI’s regulatory package?

2. Who is eligible?

3. What will happen if I choose the EMI Moratorium?

4. After availing this scheme for 3 months, will we have to pay the interest for these 3 months also?

5. If I do not want the EMI moratorium, what should I do?

Is it mandatory to avail of this scheme?

6. Why was my account debited when the RBI has announced a moratorium?

7. What charges will I pay, if I avail of this EMI moratorium?

8. How do I avail this EMI moratorium?

9. I have more than one loan from MML. Can I get moratorium for both the loans?

10. What if I have already paid my EMIs and would like to avail the moratorium till 31st May 2020.

11. Does the moratorium affect my Credit Rating?

12. Is the Moratorium an interest waiver scheme?

13. Will, there be any change in Terms & Conditions of my loan agreement

14. If I have already paid the EMI for March 2020, will the scheme be available to me for the next 3 months? Can I ask for a refund or will be refunded the EMI paid in March 2020, so that I can avail this scheme?

15. Will we have to pay all EMIs together, after 3 months?

16. Which is beneficial – paying regular EMI or availing the EMI deferment scheme?

17. I have issued NACH mandate to MML to debit my bank account for EMI recovery. Do I have to cancel this mandate with my bank?

18. Will penal interest (due to deferment) be levied for the instalments which are falling due between 1st March 2020 to 31st Aug 2020.

19. Is it OK if I continue to pay my instalment/interest and not apply for moratorium/deferment?

(I) CHARGES/RATES

DOCUMENTATION CHARGES

MANAGEMENT FEE WAIVER

(I) ఛార్జీలు / రేట్లు

DOCUMENTATION CHARGES

MANAGEMENT FEE WAIVER

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