The details about - Code of Bank’s Commitment to Micro and Small Enterprises 2015 – under Banking Codes & Policies of Karur Vysya Bank are as follows:

This Code sets the minimum standards of banking practices that banks will follow when they are dealing with Micro and Small Enterprises (MSEs) as defined in the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.

It provides protection to you and explains how banks are expected to deal with you in your day-to-day operations and in times of financial difficulty.

TABLE OF CONTENTS

INTRODUCTION
Objectives of the Code
Application of Code

KEY COMMITMENTS
Our key commitments to you
To act fairly and reasonably in all our dealings with you
To help you to understand how our financial products and services work
To help you use your accounts or service
To deal quickly and sympathetically with things that go wrong
To treat all your personal and business information as private and confidential
To publicise the Code
To adopt and practice a Non - Discrimination Policy

INFORMATION – TRANSPARENCY
General
Interest rates
Tariff Schedule
Terms and Conditions

PRIVACY AND CONFIDENTIALITY
Credit Information Companies

LENDING
Application
Assessment
Sanction / Rejection
Central Registry
Post Disbursement
Non-Fund Based Facilities
Insurance
Financial Difficulties
Nursing Sick MSEs and Debt Restructuring
One Time Settlement
Securitisation of loans / Dues

COLLECTION OF DUES AND POLICY ON SECURITY REPOSSESSION
Collection of Dues
Policy on Collection of Dues and Security Repossession
Annex - Glossary

Attached Files

Code of Banks Commitment to Micro and Small Enterprises 2015 Karur Vysya Bank.doc (144.0 KB, 67 views)