Fair Practices Code

Fair Practices Code

Resilience Engineering Private Limited, operating as KredSetu, is a digital loan marketplace. KredSetu is not a lender and does not disburse credit directly. This Fair Practices Code governs how KredSetu conducts itself in its role as a digital intermediary connecting borrowers to regulated Non-Banking Financial Companies (NBFCs) and other lending institutions.

This Code is adopted in the spirit of guidelines issued by the Reserve Bank of India (RBI) on digital lending, fair lending conduct, and customer protection norms, and is applicable to all customer-facing activities of KredSetu.

1. Transparency in Product Presentation

KredSetu is committed to ensuring that customers have access to clear and accurate information about the loan products offered through the platform before they proceed with any application.

• Indicative interest rate ranges, processing fees, and loan tenure options must be disclosed on the platform in a manner that is easy to understand.
• KredSetu shall not make claims about guaranteed loan approval, assured disbursals, or specific credit limits without factual basis.
• Promotional communications must not contain misleading comparisons, hidden charges, or terms designed to obscure the true cost of credit.
• Where a Key Fact Statement (KFS) is required under regulation, KredSetu will ensure this is made available to the customer before acceptance of the loan offer.
• Customers will be informed that final loan terms — including interest rate, amount, and tenure — are determined by the regulated lending partner based on their individual credit assessment and not by KredSetu.

2. Responsible Sourcing and Customer Onboarding

• KredSetu will only collect information from customers that is necessary for the loan application process and permitted under the applicable privacy policy and data regulation.
• Customers will be informed of the purpose for which their data will be used and which regulated lending partners their application may be shared with, prior to sharing.
• No customer will be onboarded using misleading product descriptions, false urgency, or pressure tactics.
• Customers must have meaningful opportunity to review terms and withdraw their consent or application before submission where technically feasible.
• KredSetu will not use dark patterns or deceptive design to obtain consent or drive application actions.

3. Customer Communication Standards

• All communication — whether by the platform, support staff, or third-party representatives — must be professional, truthful, and respectful.
• Customers must not be subjected to harassment, intimidation, repeated unsolicited contact, or communications at unreasonable hours.
• Sales and outreach communications must clearly identify KredSetu as the sender and not impersonate any bank, NBFC, or regulatory authority.
• Marketing messages must comply with TRAI regulations and DND preferences. Customers have the right to opt out of promotional communications at any time.
• Customers should be given adequate notice before any material changes to platform terms, fees, or processes that affect them.

4. Data Privacy and Confidentiality

• Customer data collected through KredSetu will be handled strictly in accordance with the KredSetu Privacy Policy and applicable data protection law.
• Data will not be sold, rented, or shared with non-partner third parties for commercial purposes without explicit customer consent.
• Customers have the right to withdraw consent for data processing and to request deletion of their data in accordance with the Withdrawal of Consent and Privacy policies published on this website.
• Data security measures, including encryption and access controls, are maintained to protect customer information against unauthorised access or misuse.

5. Dignity in Collections and Recovery Communication

While KredSetu is not involved in collections directly (this is the responsibility of the regulated lending partner), KredSetu is committed to ensuring that any recovery communication facilitated through the platform or its agents meets the following standards:

• Recovery communication must be factual, professional, and not threatening or abusive.
• Customer contacts must not be made to persons other than the borrower, except in permitted co-applicant or guarantor scenarios.
• Contacts at unusual hours (before 8:00 AM or after 7:00 PM) are not acceptable.
• Any collection-related complaint should be escalated to the relevant lending partner using the grievance mechanism available on this website.

6. Non-Discrimination

• KredSetu will not discriminate in service provision on grounds of religion, caste, gender, language, disability, or geographic location.
• The platform is designed to be accessible to customers across India, including those transacting in Hindi and regional languages.
• Customers from all income levels and occupational backgrounds should be able to explore loan options without being subjected to discriminatory or disrespectful treatment.

7. Lending Partner Obligations

KredSetu partners only with regulated entities (registered NBFCs) that hold valid licences from the Reserve Bank of India. Lending partners are expected to:

• Adhere to RBI guidelines on digital lending, fair practices, and KFS disclosure
• Maintain their own published grievance redressal mechanism
• Process customer data only as permitted by applicable law and the data sharing agreement with KredSetu
• Conduct credit assessment based on legitimate and disclosed criteria

KredSetu reserves the right to suspend or terminate partnerships with NBFCs that demonstrably violate fair practice norms or receive sustained unresolved customer complaints.

8. Complaint and Escalation Access

Every customer has the right to raise a complaint at any stage of the loan journey. KredSetu maintains a documented grievance redressal mechanism with named officers, published timelines, and a path to external escalation.

• Support Email: support@kredsetu.in
• Grievance Officer: grievance@kredsetu.in (Mr. Lalit Sharma)
• Full escalation process: Grievance Redressal Mechanism
• External recourse: RBI Integrated Ombudsman — cms.rbi.org.in

9. Periodic Review

This Fair Practices Code is reviewed at least annually or whenever there is a material change in applicable regulation or KredSetu's product and partnership model. Customers are encouraged to check the current version published on this website.

KredSetu welcomes feedback on this Code. Suggestions for improvement can be sent to info@kredsetu.in.

Last reviewed: April 2025. This Code is adopted in the spirit of RBI guidelines on fair lending practices for digital lending platforms and loan service providers.