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Fair Practices Code

Last updated: 22 May 2026  |  Rapid Consultancy Pvt Ltd, Musthafa Nagar, Khammam, Telangana

This Fair Practices Code ("Code") has been adopted by Rapid Consultancy Pvt Ltd in compliance with the guidelines issued by the Reserve Bank of India (RBI) for Non-Banking Financial Companies (NBFCs). It sets out our commitment to treating customers fairly at every stage of our lending relationship.

1. Loan Applications and Processing

  • All loan application forms will be provided in a language understood by the applicant.
  • Acknowledgements will be issued for all loan applications received.
  • Applicants will be informed of the reasons in writing if a loan application is rejected.
  • We will not discriminate on the basis of religion, caste, gender, or any other protected characteristic.

2. Loan Appraisal and Terms & Conditions

  • A written loan agreement will be provided to every borrower before disbursement.
  • The agreement will clearly state the loan amount, interest rate, tenure, repayment schedule, and all applicable charges.
  • All fees, charges, and penalties will be disclosed upfront — there are no hidden charges.
  • Any change in interest rates or charges will be communicated to borrowers with adequate notice.

3. Disbursement of Loans

  • Loan amounts will be disbursed only after execution of the loan agreement.
  • Any conditions precedent to disbursement will be clearly communicated to the borrower in advance.
  • Post-disbursement supervision will not interfere with day-to-day operations of the borrower.

4. Interest Rate Policy

Rapid Consultancy adopts an interest rate policy that is:
  • Transparent and non-discriminatory across borrowers of similar risk profiles
  • Clearly communicated in the loan sanction letter and agreement
  • Reviewed periodically in line with market conditions and RBI guidelines
Our interest rates are fixed per loan type and communicated at the time of application. Penal interest (if any) for delayed repayment will be separately stated in the loan agreement.

5. Recovery Practices

  • Recovery of dues will be conducted in a respectful and dignified manner.
  • Recovery agents, if engaged, will carry proper identification and authorisation.
  • Harassment or intimidation of any form is strictly prohibited.
  • Recovery activities will be conducted only between 7:00 AM and 7:00 PM.
  • Borrowers will be given adequate notice before any recovery action is initiated.

6. Collateral Management

  • All pledged collateral (gold ornaments, etc.) will be held in secure custody at our branch.
  • A receipt will be issued for every item pledged as collateral.
  • Collateral will be returned upon full settlement of the loan.
  • In case of auction due to default, adequate notice will be provided to the borrower as required by law.

7. Grievance Redressal

All customer complaints will be handled as per our Grievance Redressal Policy. Customers may contact us at rapidconsultancy124@gmail.com or +91 7670870964.

8. General

This Code will be made available to all customers at the branch and on our website. It will be reviewed and updated periodically in accordance with changes in RBI guidelines or our internal policies. Compliance with this Code is mandatory for all staff of Rapid Consultancy.