Code of Conduct
Code of Conduct
Spandana endeavors to operate as a good corporate citizen. In addition to the compliances
laid down by the Reserve Bank of India (RBI), Spandana complies with all the statutory
compliances laid down under The Companies Act and under various taxation requirements
besides the Microfinance Industry’s self regulation norms. Some of the compliances
are –
Compliance to corporate governance guidelines:
Introduction:
Sound governance practices and responsible corporate behaviour contribute to superior long-term performance of companies. A best practice on governance issues is an evolutionary and continuing process. There is no single template to define good governance. Broadly, however, corporate governance practice embodies the dual goals of protecting the interests of all stakeholders while respecting the duty of the board and senior management to oversee the affairs of a company, ensure accountability, inculcate integrity and promote long-term growth and profitability……. more
Policy for determining Interest Rates, Processing and Other Charges:
The Loan Assets created by Spandana Sphoorty Financial Limited (SSFL) shall confirm to the following:
A. Interest Rate Model
1. The rate of interest shall be based on the cost of borrowed funds, matching tenor cost, market liquidity, refinance avenues, RBI policies on credit flow, offerings by competition, tenure of client relationship, market reputation, cost of disbursements, cost of capital required, inherent credit and default risk in the products and client per se arising from client segment, profile of the clients, stability in earning and employment, subventions and subsidies available, deviations permitted, ancillary business opportunities, future potential, group strength and value to lender group, overall client yield, nature and value of primary and collateral securities, past repayment track record of the clients, external ratings of the clients, industry trends, switchover options, canvassed accounts……. more
Fair Practice code:
The Board of Directors at their meeting held on Friday, 27th October 2006 approved the “Fair Practices Code” ……. more
Sa-dhan code of conduct
Microfinance institutions seek to create social benefits and promote financial inclusion by providing financial services to low income households, including those who were previously excluded. As these institutions build partnerships with their clients and the microfinance sector grows more complex, it is getting increasingly important to define core values and fair practices, so as to ensure that microfinance services are provided in a manner that benefits and respects clients. This document states core values for microfinance (Part-I), a voluntary mutual code of conduct for microfinance institutions to abide by these values (Part-II) and a process of compliance (Part-III). All microfinance institutions, which are members of Sa-Dhan, unanimously and whole-heartedly agree to abide by the core values and the code of conduct ……. more
MFIN code of conduct
As all MFIN Member MFIs are regulated by the Reserve Bank of India (RBI), they are already required to follow all prudential norms as well as consumer protection practices laid down by the RBI. This Code of Conduct is designed to ensure that the RBI Guidelines are followed in both letter and spirit, and in some matters, lays down additional requirements ……. more
For more details please contact –
Head – Corporate Affairs
Spandana Sphoorty Financial Limited, Plot No. 79.Vinayak Nagar, Care Crystal, Gachibowli, Hyderabad-500032
| » | Compliance to Corporate governance guidelines |
| » | Policy for determining Interest Rates, Processing and Other Charges: |
| » | Fair Practice code |
| » | Sa-dhan code of conduct |
| » | MFIN code of conduct |
Compliance to corporate governance guidelines:
Introduction:
Sound governance practices and responsible corporate behaviour contribute to superior long-term performance of companies. A best practice on governance issues is an evolutionary and continuing process. There is no single template to define good governance. Broadly, however, corporate governance practice embodies the dual goals of protecting the interests of all stakeholders while respecting the duty of the board and senior management to oversee the affairs of a company, ensure accountability, inculcate integrity and promote long-term growth and profitability……. more
Policy for determining Interest Rates, Processing and Other Charges:
The Loan Assets created by Spandana Sphoorty Financial Limited (SSFL) shall confirm to the following:
A. Interest Rate Model
1. The rate of interest shall be based on the cost of borrowed funds, matching tenor cost, market liquidity, refinance avenues, RBI policies on credit flow, offerings by competition, tenure of client relationship, market reputation, cost of disbursements, cost of capital required, inherent credit and default risk in the products and client per se arising from client segment, profile of the clients, stability in earning and employment, subventions and subsidies available, deviations permitted, ancillary business opportunities, future potential, group strength and value to lender group, overall client yield, nature and value of primary and collateral securities, past repayment track record of the clients, external ratings of the clients, industry trends, switchover options, canvassed accounts……. more
Fair Practice code:
The Board of Directors at their meeting held on Friday, 27th October 2006 approved the “Fair Practices Code” ……. more
Sa-dhan code of conduct
Microfinance institutions seek to create social benefits and promote financial inclusion by providing financial services to low income households, including those who were previously excluded. As these institutions build partnerships with their clients and the microfinance sector grows more complex, it is getting increasingly important to define core values and fair practices, so as to ensure that microfinance services are provided in a manner that benefits and respects clients. This document states core values for microfinance (Part-I), a voluntary mutual code of conduct for microfinance institutions to abide by these values (Part-II) and a process of compliance (Part-III). All microfinance institutions, which are members of Sa-Dhan, unanimously and whole-heartedly agree to abide by the core values and the code of conduct ……. more
MFIN code of conduct
As all MFIN Member MFIs are regulated by the Reserve Bank of India (RBI), they are already required to follow all prudential norms as well as consumer protection practices laid down by the RBI. This Code of Conduct is designed to ensure that the RBI Guidelines are followed in both letter and spirit, and in some matters, lays down additional requirements ……. more
For more details please contact –
Head – Corporate Affairs
Spandana Sphoorty Financial Limited, Plot No. 79.Vinayak Nagar, Care Crystal, Gachibowli, Hyderabad-500032