Shoranur Co-Operative Urban Bank

Fair Practice Code

At The Shoranur Co-operative Urban Bank Ltd., we are committed to maintaining transparency, integrity, and fairness in all our dealings with customers. In line with the guidelines issued by the Reserve Bank of India (RBI), we have adopted the Fair Practice Code to ensure that our customers are treated with dignity, respect, and honesty.

Objective of the Fair Practice Code

Promote good and fair banking practices.
Increase transparency in our dealings.
Foster a healthy customer-bank relationship.
Ensure that services are offered in a fair and non-discriminatory manner.

Key Commitments to Customers

1. Transparency and Disclosure

Clear and understandable information on products, terms & conditions, interest rates, fees, and charges.
Advance notice of any change in terms and conditions.

2. Non-Discrimination

We do not discriminate on the basis of gender, age, religion, caste, or physical ability in any of our services.

3. Privacy and Confidentiality

Customer information will be kept strictly confidential unless disclosure is required by law or consented to by the customer.

4. Grievance Redressal

Robust complaint resolution mechanism.
Complaints acknowledged and resolved within a reasonable timeframe.
Escalation available to higher authority or RBI CMS if not satisfied.

5. Fair Lending Practices

Proper assessment of creditworthiness before lending.
No coercive or unfair recovery practices.
Clear explanation of repayment schedule and applicable interest.

Customer Rights

Right to fair treatment.
Right to transparency, fair and honest dealing.
Right to privacy.
Right to grievance redress and compensation.

Our Responsibility

As a responsible banking institution, we are dedicated to continuously improving our services and systems in alignment with RBI norms and industry best practices.

Fair Code Practice