POLICIES | Muthoot Money Ltd

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

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.

1. INTRODUCTION:

Muthoot Money Limited (MML) is 100% subsidiary of Muthoot Finance and one of the fastest emerging companies of the group with a legacy of serving customers over five years and currently serve through 998 branches.
MML is a non-deposit taking finance company registered with RBI on 16.05.2007 with head office at Ernakulam. MML believes that customer is the central point of its activities and providing efficient customer service is essential not only to increase its outreach to newer clients, but also to retain existing clients for sustainable business growth. Customer has the right to be heard. Customer complaint constitutes an important aspect of Voice of Customer. Customer Grievance Redressal Mechanism (CGRM) is recognized as an important tool to make a stronger connection with customers to address their queries, concerns and complaints and get insights into their needs, requirements and expectations. This, inter alia, will help MML to improve its processes, services and internal controls. Master Direction-RBI (NBFC-Responsible Business Conduct) Directions, 2025 vide (DOR.MCS.REC.No.281/01-01-039/2025-26) dt 28.11.2025 mandates the Board of the Company to lay down an appropriate grievance redressal mechanism within the organization and to review its functioning periodically. RBI has also notified The RBI (NBFC-Internal Ombudsman) Directions 2026 vide CEPD.PRD.No.S1030/ 13.01.019/2025-26 dt14.01.2026 and Reserve Bank-Integrated Ombudsman Scheme, 2026 dt 16.01.2026 which have relevance to CGRM.

2.OBJECTIVES:

The basic objective of the CGRM is to put in place a convenient, simple, transparent and effective system for speedy and efficient resolution of individual customer complaints and minimize instances of customer dis-satisfaction. Additionally, it envisions

(i) to protect customers against fraud or other unethical practices by educating them about the alternative escalation mechanisms within and outside the Company, for resolution of their issues if they are not satisfied with the Company’s response;
(ii) to consistently assess the impact of services in order to enhance competencies and serve the clients better and
(iii) to orient employees for consistently superior service behavior.
(iv) It aims to reiterate the Company’s core values viz. Sensitivity, Integrity, Quality, Speed, Passion, Resilience and Digitally enabled, by laying down a structured system.

3.UNDERLYING PRINCIPLES:

This CGRM policy is based on the client protection principles that

(i) the Company will treat all the complaints efficiently and fairly as they can otherwise damage the Company's reputation;
(ii) complaints raised by the clients must be dealt with courtesy and within the Turn Around Time (TAT) envisioned as per this policy;
(iii) clients are fully informed of the avenues to escalate their complaints;
(iv) the employees will work in good faith and without prejudice to the interests of the clients;
(v) responsibility for redressal of customers’ grievances related to outsourced services shall rest with MML;
(vi) MML shall have an in house robust grievance redressal mechanism that shall not be compromised in any manner on account of outsourcing of any services, which arrangement shall not affect the rights of a customer against MML, including the ability of the customer to obtain redressal as applicable under relevant laws.

4.MAIN REASONS FOR CUSTOMER COMPLAINTS:

(i)Employee Attitude related- Complaints should be handled courteously, sympathetically and above all swiftly. Inappropriate behaviour with customers be treated at zero tolerance level and immediate action is to be taken. It is to be emphasized that an open mind and a smile on the face of our employees will be able to win the customers’ confidence and sort out many complaints
(ii)Transactions / Operations related- Such complaints arise due to inadequacy of the services made available to the clients or gaps in standards of services planned by the Company as per internal process and actual services rendered. Primarily the Branch is responsible for the resolution of complaints/ grievances relating to transactions / operations. The branch would be responsible for ensuring rectification of entry / transaction for satisfaction of customers. That is why branches are required to observe ‘Grievance Redressal Day’ in the branch premises on 15th of every month or on the preceding working day if 15th is a non-working day. In case any branch finds it difficult to resolve a complaint at branch level, they can refer the case to Principal Nodal Officer (PNO) at Head Office for guidance/resolution. It is the foremost duty of the branch to see that the complaint is resolved to the customer’s satisfaction and if he/she is not satisfied, then to provide him/her with guidance on process to escalate the complaint to PNO/RBI.

5.Framework:

This CGRM Policy framework broadly consists of the following:

5.1. Components of CGRM and assessment of employee’s knowledge on CGRM shall be included in the employees training modules (induction or refresher or orientation) to ensure that they shall be made broadly aware of the CGRM policy, responsibilities of different employees thereunder and acceptable Turn Around Time (TAT) to resolve the various types of complaints expeditiously. Parameters on CGRM will also be factored in the employees’ performance appraisal, which will ensure that employees have incentives to handle the customers’ issues with utmost care and as per the Company policy. RBI has specifically emphasized that training to employees shall include programs to inculcate appropriate behaviour towards customers and conduct of employees towards customers shall also be incorporated appropriately in their compensation matrix.
5.2.Customer Facilitation: Customer facilitation on CGRM through the following aspects is to ensure that customer knows and trusts CGRM of MML and has fair and easy access to it.
- 5.2.1. Multiple channels: Customers will be provided with multiple channels to access to CGRM such as – complaints/suggestion box at all branches/ offices, Company’s email addresses/ Toll-Free No / postal addresses, contact number of PNO and contact coordinates of Centralized Receipt and Processing Centre (CRPC) of RBI at Chandigarh.
- 5.2.2. Training to Customers: Periodically, customers’ understanding of the CGRM will be assessed and they will be made aware of our CGRM in group meetings, trainings, etc. The awareness about the CGRM shall be imparted throughout the customers’ life cycle.
- 5.2.3. Displays and Disclosure- The repeated displays and disclosures should serve the purpose of highlighting to the customers the grievance redressal mechanism followed by the Company, together with details of the Company’s Toll-Free No, Name, contact phone no and email id of PNO and contact details of RBI, Centralized Receipt and Processing Centre (CRPC), Chandigarh. Hence, apart from oral disclosures (through training, employee interactions etc.) and other company level disclosures required by the law or other regulatory provisions like Annual Financial Report etc. the Company will disclose/display the following.
  - In Company’s Website: Fair Practices Code (FPC) of the Company which is aligned with RBI's FPC.
    (i) The Annual Percentage Rate (APR) / Effective Rate of Interest charged.
    (ii) Customer Grievance Redressal Mechanism (CGRM) of the company containing
    (iii) Channels available to customers at the Company level to register complaints,
    (iv) Escalation process including complaints to RBI,
    (v) Expected Turn Around Time at every level of escalation,
    (vi) Toll-Free number of the Company 1800-202-7747 (Timing 9 am to 5.30 pm on working days),
    (vii) Customer Grievance Redressal Cell, Contact Number 8897315143, email id- grievance@muthootmoney.in
    (viii) Principal Nodal Officer ( Contact number 8897315143 , email id- pno@muthootmoney.in),
    (ix) Contact details of RBI, CRPC, Chandigarh to escalate complaints and
    (ix) Reserve Bank- Integrated Ombudsman Scheme, 2026.
  - The disclosure / display will include the following in addition to the ones stated above for website.
    i. Declaration that the company will be accountable for not preventing inappropriate employee behaviour and timely grievance redressal.
    ii. Commitment to transparency and fair lending practices.
    iii. The minimum, maximum and average interest rates charged on Gold loans. Pricing of loans involves only two components viz; interest charge and processing charge
- 5.2.4. COMPLAINT ESCALATION MATRIX:
  - MML is committed to observing fair practices in all its business transactions and dealings with customers with utmost transparency and ethical standards. In case of any complaints/ grievances the customers can make use of the following 3 Grievances Redressal Escalation Matrix set up by the Company, within the organization as mentioned below:
    Level 1: In case of a grievance, the customer can drop his/her complaint in the Suggestion and Complaint Box available in the Branch from where the loan has been taken and / or approach the Branch Manager (BM) and discuss about the complaint. On receipt of any complaint, the BM shall resolve the complaint within 7 days from the date of receipt of the complaint. The customer is having an option to register the complaint through Toll free number 1800-202-7747
    Level 2: In case, the issue is not resolved within 7 days of complaint either by lodging it at the branch level or at the toll-free number, the complainant can contact Customer Grievance Redressal Cell, contact number 8897315143, email id grievance@muthootmoney.in. (or)
    Level 3: Principal Nodal Officer (PNO), MML, Head Office, Opp Saritha Theatre Complex, Kurian Tower, Phone No 8897315143 , Email ID :- pno@muthootmoney.in. The grievance will be resolved within 30 days from the date of receipt of the complaint by the PNO. Level 4: If a customer is not satisfied with the response received or does not receive any response from the Branch / PNO within 30 days from the date of complaint, then the customer may complain in any language to RBI through any one of the following channels under the RBI-Integrated Ombudsman Scheme (RBI-IOS):
    (i) Online: Through RBI’s CMS portal (https://cms.rbi.org.in)
    (ii) Email at: crpc@rbi.org.in
    (iii)Physical complaint by letter in the RBI prescribed format and posted to: Centralized Receipt and Processing Centre (CRPC), 4th Floor, Reserve Bank of India, Sector 17, Central Vista, Chandigarh – 160017. (iv) Contact RBI in their Toll-Free No-14448 (IVRS facility, available 8 am to 10 pm on all working days)
  - 5.2.5. RBI’s Integrated Ombudsman Scheme, 2026
    Since MML is covered under The Reserve Bank-Integrated Ombudsman Scheme, 2026 dt 16.01.2026, it shall appoint Principal Nodal Officer at Head Office. On receipt of a complaint from RBI, MML will file its written version in reply to the averments in the complaint enclosing therewith copies of the documents relied upon, within 20 days before the Internal Ombudsman for resolution. For the benefit of its customers, MML shall display prominently in English, Hindi and the regional language in all its offices/ branches, the name and contact details (Name, phone number and e-mail ID) of the Principal Nodal Officer along with the details of the complaint lodging portal of the Ombudsman (https://cms.rbi.org.in).
  - 5.2.6. RBI’s directions on role and responsibilities of Internal Ombudsman (IO)
    The IO shall deal only with the complaints that have already been examined by the MML but have been partly resolved or wholly rejected by MML and shall not handle complaints received directly from the customers. A Board approved policy on reference of such partly resolved or wholly rejected complaints to the Internal Ombudsman has been in place.
    
    (a) MML shall internally auto-escalate all such complaints that are partly resolved or wholly rejected by its internal grievance redress mechanism and all cases pending for more than 20 days from the receipt of complaint, to the IO. A complaint which is being wholly rejected or partially resolved shall be reviewed by the PNO, before auto-escalating to the IO. The IO and MML shall ensure that the final decision is communicated to the complainant within 30 days from the date of receipt of the complaint by MML. MML shall furnish all records/documents sought by the IO to enable expeditious resolution of customer grievances.
    
    (b) The IO shall have read-only access to the Reserve Bank’s Complaint Management System (CMS) to enable him to keep abreast of the decisions of the RBI Ombudsman /Appellate.
    
    (c) In case the IO upholds the decision of MML to wholly reject/partly resolve the complaint, the reply to the customer should explicitly state the fact that the complaint has been examined by the IO and, for the reasons stated in the reply, the decision of MML has been upheld. In all such cases, MML shall necessarily advise the complainant as part of the reply that he/she can approach the RBI Ombudsman for redressal (if the complaint falls under the RBI Ombudsman mechanism) along with complete details. The advice should include the link to Reserve Bank’s portal (cms.rbi.org.in) for online filing of customer complaints.
    
    (d) In case the IO overrules the decision of MML to wholly reject/partly resolve the complaint, MML can disagree with the decision of the IO with the approval of its MD/Chief Executive Officer. In such cases, the reply to the complainant shall explicitly state the fact that the complaint was examined by the IO and the decision of MML was overruled by the IO in favour of the complainant, within 10 days of communication of the decision of the IO. All such cases shall be subsequently placed before the Board of MML for review. MML shall submit a quarterly a report on functioning of the IO to RBI in the format as per Annexure.
    
    (e) MML shall use the analysis of complaints handled by the IO in their training program/ staff meetings to raise awareness among the frontline staff about, inter-alia, the pattern of complaints being received by the company, their root causes, remedial measures and expected action on the part of frontline staff. The IO will also be associated with such training, where necessary. (f) The decision of the IO shall mandatorily be included in the information submitted by MML while replying /furnishing documents to the office of the RBI Ombudsman.
    
    (g) The IO shall furnish quarterly reports to the Board of MML.
    
    (h) The internal audit of MML shall cover the implementation of this direction, covering inter-alia, aspects relating to
    - (a) the process of appointment,
    - (b) implementation of the auto escalation of the partly resolved or wholly rejected complaints to the IO within time limits,
    - (c) adequacy of infrastructure (space, IT infrastructure, human resources, etc.) provided to the IO in relation to the volume of complaints,
    - (d) action taken by the IO with regard to analysis of complaints, reports submitted to RBI and MML raising awareness of staff about the grievance redressal process etc.
    - (e) submission of the information related to appointment of IO and MML’s submission of quarterly report on the functioning of the IO to CEPD, Central Office, RBI. However, the scope of Internal Audit shall exclude any assessment of the correctness of the decisions taken by the IO.
5.3. Governance Structure:
- 5.3.1. At Branch / Regional Level: Branches are the first level of customer interactions. The keys of the drop-box for complaints / suggestions in a branch will be available with CRM/BM. This box will have glass frontage so that any sheet of paper with complaint / suggestion inside the box can be seen from outside and retrieved by the CRM/BM at the end of the day. The CRM/BM will open the drop-box at the end of the day and analyse the complaint and try to resolve the complaint at the earliest. If it is not resolved within a period of seven days from the date of complaint, it should be referred to the Principal Nodal Officer (PNO).
- 5.3.2 At Head Office Level: At Head office, the PNO will ensure periodic sample review of the Toll-Free Calls received to ensure that no complaint is missed to be registered by the Toll-Free call desk. The PNO also will prepare a quarterly note on CGRM in a specified format and forward it to the Internal Ombudsman of MML.
- 5.3.3. At Board Level: The Board/Customer Service Committee of the Board of the Company will examine issues having a bearing on the quality of customer service rendered. The Board/Customer Service Committee of the Board will review the note on Customer Grievance Redressal Management prepared by the PNO/Internal Ombudsman.
5.4.Complaints Processing: An effective and efficient complaint processing system with the following steps ensures that customer complaints are resolved timely as per Company’s policy and to the customers’ satisfaction.
- 5.4.1. Registration of the complaints, acknowledgement and assignment: Complaints are received through various channels like MML’s Toll Free No or email id or dedicated telephone number of the Principal Nodal Officer or by post /courier or through the CMS portal of RBI.
- 5.4.2. Complaints received by MML’s Toll Free Desks- After listening to a complainant calling to our Toll-Free No, the officials manning the toll-free desks make the judgement and classify the call as service enquiry or complaint. Such officials should be given training /updated inputs on internal policies / process on products, onboarding, underwriting, collection, CGRM etc. In case of any doubt on such classification, they can approach the Principal Nodal Officer (PNO) for clarification and classify the call as guided. Once categorized the complaint should be entered by the CGRM officials in the in-house developed CGRM application and assigned a system based serial Complaint number for subsequent follow-up / reporting. The official manning each desk of toll-free no, will at the end of the day, prepare a report of number of in-bound calls received, calls attended, number of out-bound calls made etc. and email the same to the PNO. The Toll-Free call logs/recordings will be saved for at least 12 months. The official assisting the PNO will review the call logs/ recordings periodically to confirm that all complaints received through toll free calls are duly registered and report the analysis to the PNO for needed action.
- 5.4.3. Complaints received by Emails- All complaints to email id pno@muthootmoney.in are to be received by the PNO. Complaints received in any other email should be forwarded to the PNO for action. On receipt of the email, the PNO will forward the same to the CGRM Desk indicating the category under which it can be registered. If the email is not complete with the minimum required information like the borrower’s name, his/her loan ID, contact mobile no, the branch of MML from where the loan is obtained, relationship with the borrower, if any relative of the borrower has sent the email, details about the complaint etc. to ascertain the borrower’s identity and to verify the internal records, then the PNO / Complaint Desk can seek these details from the e mailer and on receipt of the same will register the complaint in the CGRM application for assignment and resolution.
- 5.4.4. Complaints received from branch/letter received at Head office- All such complaints / letters will be received by the PNO who will send the same to the CGRM Desk indicating the severity and category classification under which it is to be registered in the CGRM application for assignment and resolution. Once registered under any of the above channels, the CGRM Desk will acknowledge receipt of the complaint to the complainant.

This policy will be reviewed on annual intervals. The Policy would be available on the Company’s website and at all branches (on request). All employees of the Company will be made aware of this policy.

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

1. INTRODUCTION:

2.OBJECTIVES:

3.UNDERLYING PRINCIPLES:

4.MAIN REASONS FOR CUSTOMER COMPLAINTS:

5.Framework:

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Muthoot Money Limited, a wholly owned subsidiary of Muthoot Group