Fair Practices Code

Our commitment to transparent, ethical, and RBI-compliant digital lending.

Fair Practices Code (FPC)

In alignment with the Reserve Bank of India (RBI) guidelines on Fair Practices Code for Non-Banking Financial Companies (NBFCs) and Digital Lending Platforms, Sky Credit and our lending partner, Pooja Finstock International Limited, strictly adhere to the following operational standards.

1. Transparent Loan Processing

  • All loan applications are processed based strictly on digital KYC and financial underwriting metrics.
  • We ensure that a comprehensive Key Fact Statement (KFS) is provided to every borrower before the execution of the loan contract. The KFS details the Annual Percentage Rate (APR), recovery mechanisms, and grievance redressal officer details.
  • There are absolutely zero hidden charges. Sky Credit does not demand upfront processing fees for downloading the app or submitting an application.

2. Loan Appraisal and Terms

  • The borrower will be communicated in writing (via email/SMS/App notification) about the amount of the loan sanctioned along with the terms and conditions, including the annualized rate of interest.
  • A copy of the digital loan agreement, along with all enclosures, will be furnished to the borrower upon execution.

3. Privacy and Data Security

We respect your privacy. Under no circumstances will Sky Credit or Pooja Finstock International Limited access mobile phone resources such as file and media, contact lists, call logs, or telephony functions without explicit, purpose-driven consent. Biometric data is never stored on our servers.

4. Non-Coercive Recovery Practices

We do not resort to undue harassment or coercive practices for the recovery of loans. All recovery operations are conducted with strict professionalism, dignity, and respect for the borrower’s privacy during standard business hours.

5. Grievance Redressal

We have instituted a robust Grievance Redressal Mechanism. Customers can register their complaints directly through the App or by reaching out to our Grievance Redressal Officer, whose details are prominently displayed on our Grievance Redressal page.