The Website is owned and operated by ROCTOGEN SERVICES PRIVATE LIMITED (“RSPL”), a Loan Service Provider (“LSP”) registered under the Companies Act, 2013, CIN No U74900MH2025PTC442675. This Fair Practices Code (“FPC”) has been formulated and adopted by RSPL in accordance with the guidelines applicable to Loan Service Providers (LSPs). RSPL operates the mobile application and website under the brand name “InstaMoney,” solely in the capacity of an LSP, and is not involved in the sanctioning, underwriting, pricing, or recovery of loans. All such functions are carried out exclusively by our partnered Regulated Entities (REs).
This Code outlines the minimum fair practices that RSPL shall follow when dealing with existing and prospective customers in its role as an LSP. The Code is applicable to all services provided by RSPL across its digital platform and is binding on all employees, officers, and authorized representatives of the Company.
1. Fairness, Transparency, and Disclosures
RSPL commits to conducting its operations with integrity and transparency. The following practices will be observed:
- Customer Interaction: Employees and representatives shall treat all customers with fairness and courtesy. Any commitments made must be honoured diligently..
- Compliance with Laws: RSPL shall comply with all relevant legal and regulatory requirements in the conduct of its loan-related services, ensuring that the company acts with integrity and upholds the laws of the land.
- Full Disclosure: RSPL will make transparent disclosures of all information related to the loan and related services offered, including:
- The complete fee/charges structure, including processing fees, penalties, or any other charges applicable is mutually agreed with the Regulated Entities.
- Information shall be clearly displayed and provided before onboarding and shall form part of the Key Fact Statement (KFS) and Loan Agreement.
- Any penalties or charges that will apply in the event of delayed repayment
- Customers shall be informed about their rights, obligations, and redressal options before entering into any agreement.
- All such information will be presented to the borrower at the beginning of the loan process and updated regularly.
- Availability of Code: The FPC shall be available on RSPL’s website and shall be shared with any customer upon request, either in hard copy or electronically.
- Training: RSPL shall train all employees and authorised representatives to ensure they are well-versed with the principles of this Code, including customer communication, service delivery, and redressal mechanisms
2. Privacy and Confidentiality
RSPL recognizes the importance of safeguarding customer privacy and confidentiality. The company is committed to ensuring the protection of personal and financial information at all stages of the customer relationship. The following practices will be followed:
- Confidentiality: RSPL treats all personal information of customers as private and confidential, even when a customer ceases to be associated with the company.
- Sharing of Information: The personal transaction details of customers will not be shared with any third party except in the following circumstances:
- When required by law or regulatory authorities.
- In situations where there is a public duty to disclose the information.
- If there is a legitimate business interest in disclosing information (e.g., to prevent fraud).
- If the customer has given explicit consent to share the information with affiliated or third-party companies, such as those providing related financial products or services.
- Security Measures: RSPL will take all necessary steps to protect personal information from unauthorized access, misuse, or disclosure. This includes implementing appropriate technical and organizational measures for data protection.
3. Customer Communication and Redressal Mechanism
RSPL is committed to maintaining open channels of communication with its customers, addressing their concerns promptly, and offering solutions to any issues that may arise:
- Clear Communication: All product features, loan terms, and services shall be communicated in a language and manner that is clear and easily understandable by the customer.
- Grievance Redressal: RSPL shall provide an effective mechanism for addressing customer complaints and disputes. Customers can escalate their issues if they are not satisfied with the resolution offered initially.
A structured redressal mechanism is in place, including escalation to the Grievance Redressal Officer. - If unsatisfied, customers can escalate the matter to the partnered Regulated Entity or use the RBI’s CEPC portal.
Grievance Redressal Contact:
Name: Vishal Poddar
Email: grievance@instamoney.app
Phone: 022 48913091
4. Fair Treatment of Borrowers
RSPL is committed to treating all borrowers fairly, with the same respect, dignity, and professionalism:
- Non-Discriminatory Practices: RSPL ensures that all customers are treated equally and fairly, without any form of discrimination based on race, gender, religion, age, or any other basis.
- Accurate Representation: RSPL shall ensure that all marketing and promotional materials accurately reflect the features of the loan products and services offered.
- Clear Terms and Conditions: All loan-related terms and conditions, including the cost of borrowing and repayment schedules, will be explained to the borrower, ensuring there is no confusion or ambiguity.
5. Loan Disbursement and Repayment
RSPL is committed to ensuring that loan disbursement and repayment processes are conducted in a timely and efficient manner:
- Disbursement Process: Loans will be disbursed within the agreed-upon timelines, with clear communication regarding the disbursement schedule and the method of receiving funds.
- Repayment Process: RSPL will inform customers of the repayment terms, including the schedule and any associated penalties for late payments. Customers will be reminded of their repayment obligations in advance.
- Flexible Repayment Options: RSPL offers flexibility in repayment options and will make customers aware of all choices available to them, including prepayment and loan extension options.
6. Conduct of Employees and Representatives
All employees and authorized representatives of RSPL are expected to:
- Act professionally and ethically in all customer interactions.
- Be honest and transparent, providing accurate and clear information.
- Uphold the principles outlined in this Fair Practices Code, promoting trust and a positive customer experience.
7. Monitoring and Enforcement
RSPL will regularly monitor the implementation of this Code and ensure that all employees and representatives comply with its provisions. Any violations of this Code will be taken seriously, and corrective measures will be implemented promptly.
Conclusion
This Fair Practices Code has been established to promote transparency, fairness, and customer-centricity in RSPL’s dealings with its customers. By adhering to these standards, RSPL aims to foster long-term relationships built on trust and integrity.
For any queries or more information, customers can contact RSPL’s customer service team or refer to the Code available on our website.