Fair Practice Code

Fair Practice Code

At Quilon Co-operative Urban Bank Ltd., we are committed to maintaining transparency, integrity, and fairness in all our dealings with customers. In line with the guidelines issued by the Reserve Bank of India (RBI), we have adopted the Fair Practice Code to ensure that our customers are treated with dignity, respect, and honesty.

Objective of the Fair Practice Code

The Fair Practice Code aims to:

  • Promote good and fair banking practices.

  • Increase transparency in our dealings.

  • Foster a healthy customer-bank relationship.

  • Ensure that our services are offered in a fair and non-discriminatory manner.

  • Key Commitments to Customers

    1. Transparency and Disclosure

  • Clear and understandable information on products, terms & conditions, interest rates, fees, and charges.

  • Advance notice of any change in terms and conditions.

  • 2. Non-Discrimination

  • We do not discriminate on the basis of gender, age, religion, caste, or physical ability in any of our services.

  • 3. Privacy and Confidentiality

  • Customer information will be kept strictly confidential, unless disclosure is required by law or consented to by the customer.

  • 4. Grievance Redressal

  • We have a robust complaint resolution mechanism.

  • 5. Fair Lending Practices

  • Proper assessment of creditworthiness before lending.

  • No undue harassment or coercive methods for recovery of loans.

  • Clear explanation of repayment schedule and applicable interest.

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  • Complaints will be acknowledged and resolved within a reasonable timeframe.

  • If not satisfied, customers can escalate to the higher authority or approach RBI CMS.

  • Customer Rights

  • Right to fair treatment

  • Right to transparency, fair and honest dealing

  • Right to privacy

  • Right to grievance redress and compensation

  • Our Responsibility

    As a responsible banking institution, we are dedicated to continuously improving our services and systems in alignment with RBI norms and industry best practices.