This Fair Practices Code describes the standards UdhaarWala intends to apply to its platform and customer interactions. It applies to Udhaarwala Finance Services Private Limited as the operator of UdhaarWala. It does not replace a regulated lender’s board-approved Fair Practices Code, product policy, Key Facts Statement, loan agreement or legal obligations. An identified bank or NBFC remains responsible for its lending activity.
1. Clear platform identity
We will clearly state that UdhaarWala is a digital loan facilitation platform and not a bank, RBI-registered NBFC or direct lender. We will not use names, logos or statements that imply a lender relationship unless the relevant organisation has authorised that representation.
2. Fair and accurate communications
We aim to use plain language and to avoid misleading, high-pressure or incomplete statements. We will not state or imply guaranteed approval, a fixed rate, a specific disbursal time or an available loan amount unless the statement is accurate, authorised by the relevant lender and accompanied by the material conditions that apply.
Illustrative EMIs, amount ranges, example tenures and eligibility indicators are not binding offers. The lender’s Key Facts Statement and loan agreement provide the actual terms for a loan.
3. Application processing
We will provide a structured application process that explains the categories of information and documents requested. Users can save progress and return later. We may request documents required to make an application complete, but a document request is not an approval and should not be represented as one.
Where a lender partnership is active, an application may be passed to the identified lender for its own review only for the stated purpose and in accordance with the applicable arrangement. The lender decides whether to offer credit and may ask for further information or decline an application.
4. Data minimisation and confidentiality
We seek to collect information that is relevant to the application, security, support and a lawful or authorised workflow. We do not ask the user to grant access to phone contacts, call logs, SMS messages, photo galleries or social-media accounts through the web experience. We will restrict access to application information to authorised persons who need it for their role and will maintain appropriate safeguards for sensitive information.
5. Pricing and borrower payments
We do not charge a borrower a separate UdhaarWala platform commission for loan approval. Any charge associated with a loan must be identified by the relevant lender in its disclosures and loan documents. Borrowers should never be asked to pay an unverified intermediary, personal account or link to secure a loan.
6. Respectful support and recovery conduct
Our support interactions should be respectful, factual and considerate of privacy. We do not support threatening, abusive, humiliating or deceptive conduct. UdhaarWala does not itself undertake loan recovery. If a lender product is active, the lender remains responsible for its authorised recovery process and for ensuring that service providers acting for it follow applicable standards.
7. Equality and accessibility
We aim to present the platform in a way that is accessible on mobile devices and understandable to a broad range of users. We do not intend to discriminate on prohibited grounds. Eligibility for a loan, however, is determined by the relevant lender under its documented product and risk criteria and applicable law.
8. Complaints and escalation
We maintain a public Grievance Redressal process for platform concerns. For lender-specific issues, we will direct the borrower to the lender’s grievance channel and cooperate with an investigation relating to the services we provide. We will maintain records intended to help identify recurring problems and improve controls.
9. Governance and review
This code will be reviewed when a lender partnership, product flow, data practice or applicable regulatory requirement changes. Before any live loan programme, the partner-specific responsibilities, customer disclosures, escalation matrix, training expectations, security controls and audit rights should be documented with the relevant lender.
10. Reference material
The code is informed by the RBI’s digital-lending and fair-practice principles. For the formal RBI material, see the Guidelines on Digital Lending and the RBI’s Fair Practices Code guidance. These references do not make UdhaarWala an RBI-regulated lender.