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  • BANK OPENED ITS 148TH BRANCH AT BHANIYAWALA, DEHRADUN ON 5TH OCTOBER, 2020. MR. DINESH PANT, CHAIRMAN & CEO INAUGURATED SAHASTRADHARA AND BHANIYAWALA BRANCHES.new

  • Bank opened its 146th Branch at Danpur, Rudrapur on 29.09.2020 and 147th Branch at Govindpuram, Ghaziabad on 30.09.2020. Mr. Dinesh Pant, Chairman & CEO of the Bank inaugurated both the branches.new

  • 98th Annual General Meeting of Nainital Bank held on 10th September,2020 through VC at Bank's Head Office, Nainital.new

  • Bank paid tribute to its founder father Bharat Ratna Pt. Govind Ballabh Pant on his 133rd birth anniversary on 10th September,2020.new

  • Notice for shareholders new

  • Bank celebrated its 99th Foundation day with great fervour and enthusiasm by organizing simple events and remembering and paying tribute to its founder fathers including Bharat Ratna Pt. Govind Ballabh Pant.new

  • Bank has opened its 145th branch at Jail Road Crossing, Haldwani on the auspicious day of Bank's 99th Foundation day. Our hon'ble Chairman & CEO Sh. Dinesh Pant inaugurated the branch.new

  • To fulfill its CSR responsibilities Bank adopted Himalayan black bear, Red Panda, Goral, Kaliji Pheasant and love bird for one year at G.B.O\Pant High Altitude Zoo at Nainital alongwith tree plantation activity on ceremonial occasion of Bank's 99th Foundation Day.new

  • IN VIEW OF COVID-19 CRISIS 'EMERGENCY CREDIT LINE GUARANTEE SCHEME' IS AVAILABLE IN OUR BANK FOR MEETING THE ADDITIONAL TERM LOAN/WORKING CAPITAL FACILITY UPTO 20% OF TOTAL OUTSTANDING AS ON FEBRUARY,29,2020 TO ELIGIBLE BUSINESS ENTERPRISES /MSMEs.new

  • Our Chairman & CEO Mr. Dinesh Pant has been elevated to TEG Grade / Scale VII in the rank of General Manager in Bank of Baroda w.e.f. 01.04.2020.new

  • Bank has launched COVID Emergency Credit Line (NCECL) loan scheme to provide liquidity support to borrowers impacted by COVID-19 pandemic.new

  • Bank has formulated Naini Kissan Credit Card (NKCC) scheme for meeting working capital requirements for animal husbandry and fisheries activities to help the farmers.new

  • Bank has also revised its SEED POLICY for credit facilities to seed processing units for FY-2020-21 wherein interest rate has been linked with CMR rating and collateral coverage.new

  • Mr. Dinesh Pant, Chairman & CEO, Nainital Bank donated his ONE month salary to "PM CARES" for COVID 19 outbreak victims.new

  • Nainital Bank is contributing Rs. 11.00 lakh (Rs. Eleven lakh only) for Chief Minister Relief Fund under CSR for COVID 19 outbreak victims. new

  • Employees of Nainital Bank contributed Rs. 14.20 lakh (Rs. Fourteen lakh twenty thousand only ) for "PM CARES" for COVID 19 outbreak victims.new

  • "Bank requires career oriented professionals as specialist officers in the category of Chartered Accounts, Credit Officers, Marketing Officers, IT Officers,Risk Officer, Planning Officer and Law officer". For details visit the Bank's website. new

  • Bank's esteemed customers are informed that the ATM withdrawal limit per Card per day reduced from Rs 40,000/- to Rs 20,000/- w.e.f. November 01,2018.

  • All esteemed customers holding magnetic cards are requested to get their cards replaced with EMV chip cards for uninterrupted card services.

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Home > Customer Education > Fair Practices Code For Lenders
Fair Practices Code For Lenders

With a view to setting out Fair Lending Practices in a transparent manner, The Nainital Bank Ltd has decided to adopt the following as Lenders' Fair Practices Code.

The Fair Practices code applies to the following areas :

Applications for loans and their processing :

Standardised application forms for all categories of Loans irrespective of the amount of the loan sought, will be made available to the applicants on request, free of cost.

The Loan application forms shall be comprehensive and shall include information about the fees/charges, if any, payable for processing, the amount of such fees refundable in the case of non-acceptance of application, pre-payment options and any other matter which affects the interest of the borrower,

Receipt of completed application forms will be duly acknowledged. The applicant would also be intimated the approximate date by which the applicant should call on the Bank for preliminary discussions, if deemed necessary.

  • All loan applications will be disposed of within a period of 4 weeks from the date of receipt of duly completed loan applications i.e. with all the requisite information/papers.
  • In case of rejection of the loan application, the same would be conveyed in writing along with the main reasons which led to rejection of the loan application within the time frame as mentioned above
Loan appraisal and terms/conditions :
  • In accordance with Bank's prescribed risk based assessment procedures, each loan application will be assessed and suitable margin/securities will be stipulated based on such risk assessment and Bank's extant guidelines, however without compromising on due diligence.
  • The sanction of credit limit along with the terms and conditions thereof is to be conveyed to the loan applicant in writing and applicant's acceptance of such terms and conditions will be obtained in writing. Such terms and conditions as have been mutually agreed upon between the bank and borrower prior to the sanction will only be stipulated.
  • Copy of loan documents, along with a copy of all relevant enclosures will be made available to the loan applicant on specific request. Standard sanction letter would include instances of approval, disallowance, etc. The bank is under no legal obligation to consider increase/additional limits/facilities without proper review/assessment.
  • In case of lending under consortium arrangement, the participating banks would decide the timeframe to complete appraisal of the proposal and communication of the decision. The Bank will abide by the decision of the consortium. However, the RBI guidelines, if any, in this regard will prevail.
Disbursement of loans including changes in terms and conditions :
  • Disbursment of loans sanctioned is to be made immediately on total compliance of terms and conditions including execution of loan documents governing such sanction.
  • Any change in the terms and conditions, including interest rate and service charges, will be informed individually to the borrowers in case of account specific changes and in case of others by Public Notice/display on Notice Board at the branches/on the Bank's website/through Print and or other Media from time to time.
  • Changes in interest rates and service charges will be effected prospectively.
  • Consequent upon such changes any supplemental deeds documents or writings are required to be executed, the same shall also be advised. Further availability of facility will be subject to execution of such deeds documents or writings.
Post Disbursement supervision :
  • Post disbursement supervision, particularly in respect of loans upto Rs.2 lacs, would be constructive with a view to taking care of any genuine difficulties that the borrower may face.
  • Before taking a decision to recall/accelerate payment or performance under the agreement or seeking additional securities the Bank would give reasonable notice to the borrower.
  • All securities pertaining to the loan would be released on receipt of full and final payment of the loans subject to any legitimate right or lien and set off for any other claim that the Bank may have against the borrowers. If such right is to be exercised, borrowers would be given due and proper notice with requisite details.
General :
  • The Bank would refrain from interference in the affairs of the borrower except for what is provided in the terms and conditions of loan sanction documents (unless new information, not earlier disclosed by the borrower, has come to the notice of the Bank as lender). However this does not imply that Bank's right of recovery and enforcement of security under Law as well as appointment of nominee directors, where required, is affected by this commitment.
  • Bank will not discriminate on the grounds of gender, caste or religion in its lending policy and activity.
  • In the case of recovery, Bank would resort to the usual measures as per laid down guidelines and extant provisions and would operate within the legal framework. In this context,
  • In case of request for transfer of borrowal accounts, either from the borrower or from a Bank/Financial Institution, the Bank's consent or otherwise shall be conveyed within 21 days from the date of receipt of request.
Complaints :

In case of any complaint/grievance, the applicant/borrowers will have to inform in writing the concerned branch. The Branch Officials shall immediately take up the matter for redressal.

Redressal :

In case of complaints received, the branch would report the matter with full details within 7 days from date of receipt, to Regional/Head Office, who would take all necessary steps to redress and resolve the grievance/dispute, within a maximum period of 30 days.

In order to enhance value and relevance to the borrowers this code will be reviewed from time to time. The Bank would, therefore, greatly value any suggestions for improvement.