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Fair Practices Code

Introduction & Key Objectives


The Fair Practice Codes (“the Codes” and/or “FPC”) are applicable to all activities of NAFA involving customers. This Code has been formulated by Netafim Agricultural Financing Agency Pvt. Ltd. (NAFA) pursuant to the Guidelines issued by the Reserve Bank of India.

The policy of the Company is to deal with all the clients in a consistent and fair manner. The employees/agents/associates of NAFA involved in customer interaction/services will provide assistance, encouragement and service in a fair, equitable and consistent manner. The Company will also communicate its adopted FPC to the customers through all available means.

The key objectives of NAFA’s FPC guidelines are to:

  • Promote good, fair and trustworthy practices in dealing with the customers
  • Increase transparency to enable the customers to have a better understanding of what they can reasonably expect of the services
  • Encourage market forces, through fair competition, to achieve higher operating standards
  • Create enabling platform to promote a fair and cordial relationship between the customers and the Company
  • Set such standards and practices so as to foster confidence in the system

The code is applicable:

  • To all persons/employees/agents/associates offering the Products and Services of NAFA in any manner and/or by any mode.
  • Under normal operating environment except in the event of any force majeure
  • The Code is based on ethical principles of integrity and transparency and all actions and dealings shall follow the spirit of the Code.

Key Commitments of the code: Includes to act fairly, reasonably, follow standard practices, abide by all the relevant laws, regulations and meet with the ethical principles of integrity and transparency during its interaction with customers

Commitment to provide clear information either in English or Hindi or in a language as understood by the customer regarding:

  • its various products and services
  • the terms and conditions, the interest rates/service charges
  • benefits available to customers and the implications, if any
  • contact persons for addressing the queries, if any

Grievance Redressal Mechanism

The Board of Directors of NAFA has laid down the grievance redressal mechanism within the organization to resolve disputes arising with regards to Fair Practices followed by NAFA. The mechanism proposes to ensure that all disputes arising out of the decisions of company’s functionaries are heard and disposed of at least at the next higher level. The Board of Directors shall also provide for periodical review of the functioning of the Grievances Redressal Mechanism at various levels of management at intervals as may be prescribed by it from time to time. To start with NAFA may provide the same on quarterly basis.

The key steps in the redressal mechanisms are as follows;

An aggrieved customer(in connection with any matter pertaining to business practices, lending decisions, credit management and recovery)can register his/her complaint on NAFA’s dedicated email or can submit his/her written complaint, addressing to the Nodal Grievance Officer (NGO), at the nearest premise/office/branch of NAFA. NAFA has a Nodal Grievance Officer, who will examine the matter and respond to complaints as soon as possible.NAFA shall make available facilities at each of its premises/branches/offices for the customers to lodge and/or submit their complaints or grievances, if any. NAFA has kept displayed the following information prominently, for the benefit of its customers, in its website/s and at all its office premises where business is transacted:The name and contact details (Telephone / Mobile nos. as also email address) of the Nodal Grievance Officer (NGO), which is also provided below;

Netafim Agricultural Financing Agency Pvt. Ltd. (NAFA)
1602 & 1603, “The Affaires”, 16th Floor, Plot No: 9, Sector 17, Palm Beach Road,
Sanpada Navi Mumbai – 400705, Maharashtra
Tel: +91- 22 - 61707606

Contact details of Officer-in-Charge of the Regional Office of DNBS of RBI has been provided below, under whose jurisdiction the registered office of the Company falls in the event of complaint / dispute remains unresolved for a period more than one month

“The General Manager’
Department of Non-Banking Supervision,
Reserve Bank of India,
Mumbai Regional Office, Garment House,
Dr. A. B. Road, Worli, Mumbai – 400 018

Duties of NGO
After receiving customer’s complaint through e-mail or written letters, NGO will examine the matter and respond to complaints within 30 days from the date of receipt of such complaint
If customer is not satisfied with the responses, then the NGO will provide guidance to such customer on escalation mechanism
NGO will submit the Grievances Redressal report to management at the end of each quarter

For detailed FPC code & policy, please write to:

Netafim Agricultural Financing Agency Pvt. Ltd. (NAFA)
1602 & 1603, “The Affaires”,
16th Floor, Plot No: 9, Sector 17,
Palm Beach Road, Sanpada
Navi Mumbai – 400705, Maharashtra
Tel: +91- 22 - 61707606

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Netafim Agricultural Financing Agency Pvt. Ltd., Regd. Office: 1602 & 1603, The Affaires, 16th Floor, Plot no. 9, Opp. Bhumiraj Costarica. Sector 17, Palm Beach Raod, Sanpada, Navi Mumbai – 400 705, CIN:U67190MH2011PTC220358 E-mail: Contact No. +91 – 022 6170 7600