Fair Practices Code (FPC)
FMEC International Financial Services Limited
About FMEC International Financial Services Ltd
FMEC International Financial Services Limited ("the Company") is a non-deposit taking Non-Banking Finance Company registered with the Reserve Bank of India ("RBI"). The Company is presently engaged in providing different types of loans, including Personal Loans, to its customers.
RBI Compliance
The Company has implemented the Fair Practices Code ("FPC") in accordance with the guidelines issued by the Reserve Bank of India for all Non-Banking Financial Companies (NBFCs) via RBI circular RBI/2015-16/16 DNBR (PD) CC.No.054/03.10.119/2015-16 dated July 1, 2015.
Code Objectives
The Fair Practices Code establishes principles of fairness, transparency, and adequate disclosures while dealing with customers and stakeholders.
Key Commitments
Act Fairly and Reasonably
- Meeting commitments and standards specified in the Code
- Ensuring compliance with laws and regulations
- Maintaining integrity and transparency
Customer Education
Helping customers understand how Company products work, including their financial implications.
Issue Resolution
- Correcting mistakes promptly
- Handling complaints efficiently
- Guiding customers on escalation procedures
Code Publicity
Publishing the Fair Practices Code on the website and making copies available upon request.
Our Digital Lending Platform – SalaryFlow
SalaryFlow is a mobile and web-based platform designed to make personal financing easier and faster.
Registration
Quick & secure account creation
Application
Complete online application
Processing
Automated verification
Disbursement
Direct to bank account
Interest Rate Model
- Cost of Funds
- Operating Costs
- Credit Risk
- Customer Risk Profile
- Market Competition
Interest Rate Components
- Weighted Average Cost of Borrowing
- Fund Raising Costs
- Operational Expenses (Opex)
- Risk Premium
- Base ROA
General Practices
Non-Interference: The Company refrains from interference in the borrower’s affairs except as provided in the loan agreement.
Ethical Recovery Practices: No undue harassment or intimidation will be used during loan recovery.
Foreclosure Charges: Either zero or reasonable charges may apply on a case-to-case basis.
Grievance Redressal Mechanism
The Company has established an internal grievance redressal forum approved by the Board of Directors.
Grievance Redressal Officer
Mr. Aman Kumar
Email: help@salaryFlow.in