1. The Reserve Bank of India (“RBI”) has vide Master Directions – Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 dated October 4, 2017 as updated on December 29, 2022 (“Master Directions”) has directed every Non-Banking Financial Company – Peer to Peer Lending Platform (“NBFC – P2P”) to implement a Fair Practices Code.
2. Transactree Technologies Private Limited (“Company”), being a peer to peer lending platform in the process of applying for a registration with the RBI for NBFC-P2P, is also required to implement a Fair Practices Code.
3. Accordingly, the Board of Directors have, on their meeting held on November 1, 2017 approved this Fair Practices Code (“Code”). The Company will ensure implementation of this Code across all its departments and teams. The Company shall also make appropriate modifications in the Code from time to time to conform to the standards that may be prescribed by RBI from time to time.
4. This Code shall also be made available on the website of the Company (“Platform”), for the benefit of all stakeholders.

The key objectives of putting this Code in place are:

1. Fairness and Transparency
   1. Fair and transparent dealing with lenders and borrowers (collectively referred to as “Participants”) transacting on the Platform is important. The Company’s dealings with its Participants shall be based on the principle of fair dealing and transparency.
   2. The Company’s policies and terms for transacting on the Platform shall be in line with this Code and the regulations prescribed by the RBI, from time to time.
   3. The Company will ensure that the Participants are made aware of the terms and conditions of transacting through the Platform.
2. Trouble free experience on the Platform
   1. The Company will incorporate processes to provide the Participants a seamless experience on the Platform.
   2. Any and all grievances from Participants shall be dealt by the Company in an efficient and effective manner.
   3. The Company shall have escalation process in place to handle complaints and grievances of the Participants. The details of the same are elaborated in the Grievance Redressal Policy of the Company, available on the Platform.
   4. The Company shall ensure that all communication to the Borrowers on the Platform shall be in English as well as the vernacular language or a language as understood by the Borrower.

1. The Code shall be applicable to the following key functions of the Platform:
   1. Participant sign up process
   2. Loan processing including, terms and conditions of the loans
   3. Disbursement of loans
   4. Post disbursement supervision, monitoring and recovery
   5. Other miscellaneous provisions
2. Participant sign up process
   1. The Platform shall provide unambiguous information on the signing up process for Participants.
   2. The consent of the Participants shall be taken before sharing their information with any external third party.
   3. The consent of the lender shall be taken before disbursing any loan on his/her behalf.
   4. The Participants shall have access to the draft Loan Agreement setting out the terms of the loan prior to disbursing or availing any loan on the Platform.
   5. Any changes to the term of the Loan Agreement shall require approval of the concerned Participant.
3. Loan processing
   1. Explicit declaration shall be taken from the lender confirming that he/she has understood all the risks involved in engaging with the proposed transaction on the Platform.
   2. The lender shall be informed by the Company that the Company does not assure return of principal/payment of interest.
   3. The Company shall also inform the lender about the existence of likelihood of loss of the entire principal amount being provided as loan by the lender, in case of a default by the borrower.
   4. While the Platform may provide assistance with recovery of loans in accordance with its Recovery Policy, no assurance shall be provided by the Platform with respect to recovery of such loans.
   5. The Company shall disclose to the lender:
      1. Details about the borrower/s including loan amount, interest rate and credit rating as derived by the Company.
      2. Details about all the terms and conditions of the loan, including interest, fees and taxes.
   6. The Company shall disclose to the borrower details about the lender/s including the proposed loan amount and interest rate offered by the lenders.
   7. The Company shall not disclose the personal identity and contact details of the lenders.
4. Disbursement of Loans including changes in terms and conditions
   1. The Company will convey to the Borrower the amount of loan sanctioned along with the terms and conditions including annualized rate of interest and method of application thereof. Any and all changes in the interest rates and charges shall be affected only prospectively.
   2. The Company will furnish a copy of the Loan Agreement along with a copy each of all enclosures quoted in the Loan Agreement to all the borrowers at the time of sanction/ disbursement of loans. The Loan Agreement form and annexures shall include necessary information which affects the interest of the borrower to enable the Borrower to compare similar terms and conditions offered by other NBFCs and take an informed decision.
   3. The Company shall ensure that any decision to recall and/or accelerate payment or performance shall at all times be in consonance with the terms and conditions of the loan agreement executed with the Borrower.
   4. The Company shall release all securities of the Borrower only on repayment of all dues by such Borrower, or on realization of the outstanding amount of the Borrower’s availed loan. If such right of set off is to be exercised, the Borrower will be given a notice about the same with full particulars about the remaining claims and conditions under which the Company shall be entitled to retain the securities till the relevant claim is settled or paid by the Borrower.
5. Post disbursement supervision/monitoring and recovery
   1. The Company shall ensure that the staff dealing with matters relating to recovery of loans are adequately trained to deal with the Participants in an appropriate manner. The Company shall ensure that such staff shall not resort to harassment, viz., persistently bothering the borrowers at odd hours, use of coercion for recovery of loans, etc. Such staff at all times shall adhere to the Recovery Policy of the Company, as amended from time to time.
6. Interest rates and regulation of Complaints
   1. The Company shall devise appropriate internal principles and procedures for determining interest rates and processing and other relevant charges and inform the same to the Borrowers and the Investors on a case-to-case basis. -> The Company shall devise appropriate internal principles and procedures for determining interest rates and processing and other relevant charges and inform the same to the Borrowers and the Lenders on a case-to-case basis.
   2. Any grievance regarding excessive interest rates may be addressed to the Grievance Redressal Officer mentioned on the Website.
   3. The Board of Directors of the Company shall endeavour to adopt an interest rate model taking into account relevant factors such as, cost of funds, margin and risk premium, etc and determine the rate of interest to be charged for loans and advances. The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to different categories of Borrowers shall be disclosed to the Borrower.
   4. The rates of interest and the approach for gradation of risks shall also be made available on the Website. The information published on the website is be updated whenever there is a change in the rates of interest.
   5. The rate of interest adopted by the Company are annualised rates so that the Borrower is aware of the exact rates that would be charged to the account.
7. Other Miscellaneous Provisions
   1. The Company shall not discriminate on the grounds of gender, caste, profession, ethnicity or religion when onboarding Participants.
   2. In the case of recovery of loans, the Company shall resort to the usual measures, which are legally and legitimately available to it and as per guidelines relating to recovery laid down by the RBI and as enumerated in the Company’s Recovery Policy.

1. The Company shall treat all information of its Participants as private and confidential.

2. The Company shall not disclose details of any transaction carried out on its Platform to any person without the prior consent of the Participant. This restriction shall not apply in the following cases:
   1. Where the Company is required to provide such information relating to a Participant, by law or under an order of a government, statutory or regulatory authority.
   2. The Company can share the information with its associate entities or entities engaged by the Company for providing other services or products ancillary to the activities and business being carried out by the Company through the Platform.

The RBI does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by the Company, and do not provide any assurance for repayment of the loans lent on the Platform. The Company shall ensure that this disclaimer is also displayed on the Platform.

1. The Company will refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the Loan Agreement (unless new information, not earlier disclosed by the borrower, has come to the notice of the Company).
2. In case of receipt of request from the Borrower for transfer of Borrower account, the consent or otherwise, i.e., objection of Company, if any, shall be conveyed to such Borrower within 21 (twenty-one) days from the date of receipt of the Borrower’s request. Such transfer will be as per transparent contractual terms in consonance with all the applicable laws.
3. The Company shall initiate necessary disciplinary action against its staff or agents who abuse any of the terms set out in this Code.

1. A Grievance Redressal Policy enumerating the grievance redressal mechanism in the Company alongwith details of the Grievance Redressal Officer and a contact number to address Participant’s complaints has been set up to resolve grievances registered by Participants on the Platform.
2. There will be a periodical review of the compliance of the Code and the functioning of the grievances redressal mechanism at various levels of management. A consolidated report of such reviews will be submitted to the Board at regular intervals. Upon review of such consolidated report, the Board shall suggest such amendments to the Code asit may deem appropriate.