• The debt collection policy of the Bank is built on courtesy, fair treatment and persuasion. We believe in fair practices with regard to collection of dues and repossession of security and thereby fostering customer confidence. The repayment schedule for any loan sanctioned by us is fixed taking into account paying capacity and cash flow pattern of the borrower. We explain to the customer upfront the method of calculation of interest and how the Equated Monthly Installments (EMI) or payments through any other mode of repayment are appropriated against interest and principal due from the customers.
• Our security repossession policy aims at recovery of dues in the event of default. The policy recognises fairness and transparency in repossession, valuation and realisation of security. All the practices adopted by the Bank for follow up and recovery of dues and repossession of security are in consonance with the law.

The policy is based on the following guidelines:

• All communications to the customer are in writing, by telephone or through personal visit. The customer is contacted by telephone on the numbers (residence/work place/mobile) provided by him/her in the application form filled in at the time of taking the loan/modified subsequently as intimated to the Bank. If the customer is not responding/not reachable over telephone, the Bank's representatives make personal visits to the customer's residence/workplace during reasonable hours of the day.
• The Bank staff or any person authorised to represent the Bank in collection of dues or/and security repossession identifies himself / herself and displays the authority letter issued by the Bank upon request.
• The Bank respects privacy of its borrowers. Borrower's requests to avoid calls at a particular time or at a particular place are honored as far as possible.
• Inappropriate occasions such as bereavement in the family or such other calamitous occasions are avoided for making calls/visits to collect dues.

Where customers do not adhere to the repayment schedule and become delinquent, the Bank official or any person authorised by it follows up with the customer for collection of dues and/or repossession of the security through written communications, telephonic reminders or visits by our representatives to the borrowers place or residence.

Repossession of security is aimed at recovery of dues and not to deprive the borrower of the property. Repossession is resorted to only when the normal modes of recovery like follow-up with the borrower, guarantor, persuasion etc have failed. The recovery process through repossession of security involves repossession, valuation of security and realization of security through appropriate means. All these are carried out in a fair and transparent manner. Repossession is done only after issuing the communication as explained above. Due process of law is followed while taking repossession of the property. We take all reasonable care for ensuring the safety and security of the property after taking custody, in the ordinary course of the business.

Valuation and sale of property repossessed by the Bank are carried out as per law and in a fair and transparent manner. The Bank may engage the services of external agencies for carrying out repossession of security and sale thereof. The Bank has right to recover from the borrower the balance due, if any, after sale of property. Excess amount, if any, obtained on sale of property is returned to the borrower after meeting all the related expenses provided the Bank is not having any other claims against the customer.

As indicated above, the Bank resorts to repossession of security only for the purpose of realisation of its dues as the last resort and not with intention of depriving the borrower of the property. Accordingly, the Bank is willing to consider handing over possession of property to the borrower any time after repossession and before concluding sale transaction of the property, provided the Bank dues are cleared in full. If satisfied with the genuineness of borrower's inability to pay the loan installments as per the schedule which resulted in the repossession of security, the Bank may consider handing over the property after receiving the installments in arrears. However, this would be subject to the Bank being convinced of the arrangements made by the borrower to ensure timely repayment of remaining installments in future.