RBI-Mandated Statutory Disclosures

Regulatory basis: RBI Master Direction — NBFC-Scale Based Regulation, 2023 (Chapter on Fair Practices Code); RBI Circular on Fair Practices Code for NBFCs dated March 26, 2012 (as updated); RBI Integrated Ombudsman Scheme, 2021.

Mandatory Website Disclosures Checklist

As per RBI guidelines, NBFCs with customer interface are required to publish the following on their official website. Ajiwika Financial Services confirms compliance with these requirements:

• Fair Practices Code (FPC) — Board-approved, published on website (preferably in vernacular language)
• Interest rate policy — Rate model, risk gradation approach, and rationale; updated promptly when rates change
• Penal charges — Quantum and reason disclosed upfront on website under Interest Rates & Service Charges
• Grievance Redressal Officer — Name, email, and contact details prominently displayed
• RBI escalation route — Details of RBI Regional Office / Integrated Ombudsman Scheme for unresolved complaints
• Recovery agents — Up-to-date list of recovery agencies engaged (if any)
• Property document return procedure — Process for return of original documents upon loan closure or demise of borrower
• Related party transactions policy — Disclosed on website as per RBI norms
• Corporate registration — CIN, registered office, and regulatory status — see Corporate Information

Public Deposit Notice

Source: RBI FAQs on NBFCs

Fair Practices Code

Ajiwika Financial Services Private Limited has adopted a Board-approved Fair Practices Code in accordance with RBI guidelines. The key principles are:

Applications & Appraisal

• All applications shall receive a written acknowledgement with contact details for status enquiries.
• Credit appraisal shall be based on clearly defined criteria communicated to the applicant.
• Loan sanction letters shall be issued before disbursement, specifying amount, annualised rate of interest, tenure, EMI, and all applicable charges.

Transparency & Communication

• Terms and conditions shall be communicated in a language understood by the borrower (vernacular where applicable).
• Changes in interest rates, service charges, or disbursement schedules shall be notified in advance and effected only prospectively.
• The annualised rate of interest and method of application shall be explicitly stated in the sanction letter.
• Penal interest for late repayment shall be mentioned prominently in the loan agreement.

Collection Practices

• Recovery shall be conducted without harassment, intimidation, or undue interference in the borrower's affairs.
• Recovery agents (if engaged) shall adhere to RBI-prescribed code of conduct and carry proper authorisation.
• Up-to-date details of recovery agencies shall be hosted on this website.

Board Oversight

• The Board shall periodically review compliance with the Fair Practices Code and the functioning of the grievance redressal mechanism.
• The Board shall adopt an interest rate model and approve policies on penal charges and service charges.

Interest Rate Policy

In accordance with RBI directions, the Board of Ajiwika Financial Services has adopted an interest rate model that takes into account the following factors:

Factor	Description
Cost of Funds	Weighted average cost of borrowings and capital deployed
Operating Costs	Administrative, technology, and compliance overheads
Margin	Appropriate risk-adjusted return on capital
Risk Premium	Gradation based on credit profile, tenure, collateral (if any), and market conditions

The rate of interest and the approach for gradation of risks shall be disclosed to the borrower in the application form and communicated explicitly in the sanction letter. The rates of interest and the approach for gradation of risks are made available on this website and shall be updated whenever there is a change in rates, as mandated by RBI.

Reserve Bank of India has deregulated interest rates for NBFCs. However, NBFCs must be transparent — the rate of interest and manner of arriving at the rate for different categories of borrowers must be disclosed on their website, in the Key Facts Statement, and in sanction letters to enable informed decision-making.

Penal Charges & Service Charges

As per RBI Master Direction (NBFC-Scale Based Regulation, 2023):

• The quantum and reason for penal charges shall be clearly disclosed upfront in the loan agreement and Key Facts Statement / Most Important Terms & Conditions.
• Penal charges shall also be displayed on the NBFC's website under Interest Rates and Service Charges.
• Merely referencing the website in the sanction letter without full disclosure in the agreement is not sufficient.
• Pre-payment charges (if applicable) shall be clearly disclosed in the sanction letter and loan agreement.
• All applicable charges for switching between floating and fixed rates shall be transparently disclosed and Board-approved.

Specific charge schedules applicable to Ajiwika Financial Services products shall be communicated to borrowers at the time of sanction and published on this page when updated by the Board.

Return of Property Documents

In accordance with RBI directions, Ajiwika Financial Services maintains a procedure for the return of original movable/immovable property documents to borrowers or their legal heirs:

• Upon full repayment and closure of the loan account, original documents shall be returned within the timeline prescribed by RBI directions.
• In the event of demise of the sole borrower or joint borrowers, documents shall be returned to the legal heirs upon submission of requisite proof and settlement of outstanding dues (if any).
• For queries regarding document return, contact the Grievance Redressal Officer at tanay@ajiwika.org.

Recovery Agents

As per RBI directions, NBFCs engaging recovery agents must host up-to-date details on their website. Recovery agents shall carry proper authorisation and identity cards when interacting with borrowers.

Status	No third-party recovery agencies are currently engaged.
Last Updated	June 2026

This section shall be updated promptly if recovery agencies are engaged in the future.

Grievance Redressal & RBI Escalation

As mandated by RBI Fair Practices Code guidelines, the following grievance redressal mechanism is in place:

Step 1 — Contact Ajiwika Financial Services

Grievance Redressal Officer	Mr. Tanay Chakravarty
Email	tanay@ajiwika.org
Registered Office	House Of Nirmal Ganguly, 404 Phonindra Apartment, 19 Raja K L Goswami Road, Seerampur, Hooghly 700712
Resolution Timeline	Within 30 days of receipt of complaint

Step 2 — RBI Integrated Ombudsman Scheme, 2021

If the complaint is not redressed within one month, or if you are dissatisfied with the resolution, you may approach the Reserve Bank of India under the Reserve Bank - Integrated Ombudsman Scheme, 2021 (effective November 12, 2021):

Online Portal	https://cms.rbi.org.in
Email	crpc@rbi.org.in
Helpline	14448 (Toll-free)
Centralised Receipt & Processing Centre	4th Floor, Sector 17, Chandigarh — 160017

RBI Regional Office (West Bengal Jurisdiction)

Our registered office falls under the jurisdiction of the RBI Kolkata Regional Office:

Office	Reserve Bank of India, Kolkata Regional Office
Address	15, Netaji Subhash Road, Kolkata — 700001
Telephone	033-22303299
Jurisdiction	West Bengal and UT of Andaman & Nicobar Islands
Department	Department of Supervision (NBFC supervision)
Website	RBI Kolkata Regional Office

Note: Under the Integrated Ombudsman Scheme, complaints are processed centrally via the CMS portal. You need not approach a specific regional office to file a complaint.

Official RBI References

Document	Link
RBI Master Direction — NBFC Scale Based Regulation, 2023	rbi.org.in
RBI FAQs on NBFCs	rbi.org.in
Fair Practices Code Circular (March 2012)	rbi.org.in
Integrated Ombudsman Scheme FAQs	rbi.org.in
List of Registered NBFCs	RBI → Regulation → Non-Banking
MCA Company Master Data	mca.gov.in

All regulatory references are to official Reserve Bank of India and Ministry of Corporate Affairs publications. This page is updated periodically to reflect current RBI requirements.