Fair Practice Code

The company has the adopted the Fair Practice Code as per the guidelines issued by RBI from to time.


Applications for Loans and
their Processing

Loan appraisal and
Terms and Conditions

Disbursement of loans including changes in terms and conditions


Responsibility of the Board of Directors

Grievance Redressal

In the present competitive scenario, excellent customer service is an important tool for sustained business growth. Customer complaints are a part of business life in any corporate entity. We believe that providing prompt and efficient service is essential not only to attract new customers but also to retain existing ones.

The company strives to provide a better customer experience and an efficient complaints redressal mechanism with a view to providing enhanced experience to our customers.

Customers may approach the Grievance Redressal Officer for redressal of their complaints.

The company has also displayed the name and contact details of the Grievance Redressal Officer at its branches/locations where business is transacted.

Grievance Redressal Officer
Mr. Madhusudan Gupta
Contact No: 011 49614004
Email id: madhusudan.gupta@vcfs.co.in
Address: Plot No 8, pocket 1, Jasola, New Delhi

If the Customers are not satisfied with the resolution provided by the company, they may further approach:

The Assistant Manager
Reserve Bank of India
Department of Non-Banking Supervision
6, Sansad Marg,
New Delhi 110001

Regulation of Interest Rate
charged by the Company

The Company has laid down appropriate internal principles and procedure in determining interest rates, processing fees and other charges. The Company has adopted an interest rate model taking into account relevant factors such as, cost of funds, margin and risk premium, etc. and determine the rate of interest to be charged for loans and advances.

The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to different categories of customers shall be communicated explicitly in the sanction letter.

The rates of Interest will be annualized so that the borrower is aware of the exact rates that would be charged to the account.

Repossession of
Hypothecated Assets

The Company has a built in re-possession clause in the loan agreement with the customer which is legally enforceable. To ensure more transparency, the terms and conditions of the loan agreement contains provisions regarding:

Interest Rate Policy

Keeping in view the RBI guidelines, the following internal guiding principles and interest rate model are laid out by the Board of VC & FS (the “company”). This policy should always be read in conjunction with RBI guidelines, directives, circulars and instructions. The company will apply best industry practices so long as such practices do not conflict with or violate RBI guidelines.

Interest Rate

Penal Interest /Late
payment charges

Besides normal interest, the company may collect penal interest /late payment charges for any delay or default in making payments of any dues. These penal interest/late payment charges for different products or facilities would be decided by the company from time to time.

No claims for refund or waiver of such charges/penal interest/additional interest would normally be entertained by the company and it is the sole discretion of the company to deal with such requests if any.