Policies & Practices
Code of Conduct
This Code of Conduct (CoC) aims at promoting and advancing ‘responsible lending’ practices in our business. Ensuring the clients’ interests and prioritised and protected, improve the client’s well-being as well as to ensure the well-being and security of employees. Being the member of Sa-Dhan, We follow the code of conduct and core values per the Reserve Bank of India and Self-Regulatory Bodies – Sa-Dhan & MFIN.
Fair Practice code
The Fair Practice Code defines the elements of the Code for Responsible Lending (CRL) which is sector specific and entity agnostic. Building on key regulatory customer-protection measures as described in RBI Master Directions for NBFC-MFIs and applies to the delivery of micro-credit to customers, individually or in groups either on its own or through an agent by Providers.
Client Grievance Redressal
WeGrow being a financial service provider to the under-financed and the under-privileged sections of society, believes that client-servicing is the most important tool for sustained business growth. Organisation’s Grievance Redressal Policy articulates our objective to minimize instances that give rise to customer complaints and create a review mechanism to ensure consistently superior service behavior.
Interest Rate Policy for the year 2022-23
In accordance with RBI circular, vide RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 on 14th March, 2022 and further notifications (if any) issued by Reserve Bank of India in this regard; all Entities have to ensure complying with the Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022 and ‘pricing guidelines’, to be eligible to classify these loans as priority sector loans.
WeGrow Credit Policy
Our Credit Policy involves meticulous risk assessment and credit scoring to ensure the financial well-being of our clients. Explore a diverse array of loan products, each offering clear terms and customized repayment structure. We embrace technology for efficiency, real time monitoring, and predictive analytics ensuring a secure lending environment. Regular reviews keep our policies adaptive with regulatory restriction.
Risk Management Policy
In pursuit of advancing stake holders value WeGrow has formulated a risk Management Policy to guide its approach and decision-making process. This well-organised strategic Risk Management framework aims to protect rights and value of stakeholders. Risk Management Policy of the Company seeks to minimise unfavourable impact on the business objective and develop stakeholder value. Further, the risk