SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.)
No. 101, 102 & 103, 10th floor, North Avenue, Maker Maxity,
Bandra Kurla Complex, Bandra (E), Mumbai – 400051, Maharashtra
CIN: U65191TN1994PLC079235, PAN: AAACD1707C
Regd. Office: 3rd Floor, No-165 Megh Towers, PH Road Maduravoyal
Chennai-600 095

www.smfgindiacredit.com
namaste@smfgindia.com
1800 103 6001

SANCTION LETTER

I
Name
JANKESHWAR PATEL
Address, Email address:
ADD1 RAMPURIYA KHURD RAMPURIYA KHURD INDORE MADHYA Indore MP 453661
Patelkris72@gmail.com

Mobile Number
9754227022
Date of execution: 16-Nov-2023
II Applicable Loan Type Facility
III Application ID 21615141
IV Facility Amount (Amount in numbers) Rs. 60000
V Facility Amount (in words) Sixty thousand
VI Tenure of the Facility Amount (in days) 270
VII Rate of Interest (% per annum) 35 % (Interest will be accrued and applied daily)
VIII Additional Interest (% per annum) 36.5% p.a. on Overdue Amount
IX Repayment: Equated Daily Installment (Rs) Rs. 252
X Processing Fees (%) 4 % (plus applicable taxes including GST)
Applicable on Facility Amount
XI Mandate re-presentation / dishonor charge (Rs)

(Note: The Cheque/ECS/NACH dishonour Charges as referred to above are not compensatory and/or to be construed as any form of consideration towards the act of dishonour and in no ways should the same be construed as fees recovered under this Loan. It is abundantly clarified that SMFG India Credit does not tolerate dishonour of instruments and/or deposit of an invalid, fake or unworthy instrument issued towards meeting payment obligations under this Loan and any Charges collected thereof are not intended to compound such acts of dishonour. Notwithstanding any Charges collected hereof SMFG India Credit reserves its right to invoke appropriate civil and criminal laws.) 		Rs 200 + applicable taxes
To be applied on per instance/occurrence basis on each Mandate/NACH bounce
XII Prepayment Charges (% per annum) Nil
XIII Break up between Principal and Interest

Interest is accumulated on your loan account from the day of disbursement, hence values mentioned in the corresponding table are indicative. Actual values will be available in repayment schedule. 		Total Principal:Rs. 60000
Total Interest:Rs. 8040
XIV Examples of SMA/NPA classification dates As mentioned in the below table
Example for SMA and NPA in accordance with RBI
Method of calculation of Special Mention Account (SMA) and Non-Performing Asset (NPA) account, in case of default by any customer, shall be as follows:
Few important definitions and concepts:
SMFG India Credit shall classify any account as SMA or NPA after running day-end process.
Day-end process: At the end of every calendar day, SMFG India Credit shall run a process to determine whether an account will be treated as overdue or not. In case of NACH/ e-NACH mandates/ standing instructions, if by the time the day-end process is run, the dues from the customer are not received into the designated bank account of SMFG India Credit, the amount would be considered as not received and therefore will be treated as overdue. In case of collection by cash, the date of issuance of money receipt by SMFG India Credit shall be treated as the date when the amount has been duly received by SMFG India Credit. In case of collection by cheques, the value date shall be considered as the date when the amount has been received by SMFG India Credit, unless the cheque is subsequently returned as dishonoured by SMFG India Credit's bank(s), in which case the instalment/ EMI amount shall be considered as overdue at the end of day on the value date, i.e. the due date of such payment.

Special Mention Account (SMA): RBI guidelines require a lender like SMFG India Credit to immediately recognize incipient stress in borrower account by classifying them as SMA. RBI prescribes three levels for SMA recognition, viz., SMA-0, SMA-1 and SMA-2. For definition of SMA and grading mechanism, you may want to refer RBI circular no. DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets.
Illustration:
In case the due date for an account is 4th calendar day of every month (say, 4th July 2021). The SMA and NPA classification in such cases shall be as follows:
If the EMI/ entire dues of a particular account are not received into the bank account of SMFG India Credit before the day-end process is run on the 4th calendar day, i.e. the due date, the account shall be treated as overdue after day-end process. Accordingly, this account shall be classified as SMA-0.
If this account remains continuously overdue even after the completion of day-end process on 30th day from the initial due date, after its classification as SMA-0, the account shall be classified as SMA-1, immediately after running of day-end process, if the full dues are not received before day-end process is run on the 30th day.

If the account continues to remain overdue for 60 days, it shall be classified as SMA-2 upon running day-end process on the 60th day from the initial due date.

If the account remains continuously overdue for 90 days, it shall get classified as NPA upon running day-end process on the 90th day from the initial due date.

Once an account is classified as NPA, it may be upgraded as standard only after the entire arrears/ overdue of interest and principal are paid fully.

The above illustration has been further explained in the table below:

Day-end process on
 DPD Scenario Classification
04.07.2021
 1 If full dues are not received before the day-end process SMA 0
03.08.2021
 31 If full dues are not received before the day-end process SMA 1
02.09.2021
 61 If full dues are not received before the day-end process SMA 2
02.10.2021
 91 If full dues are not received before the day-end process NPA

Annexure - Key Fact Statement

I
Name
JANKESHWAR PATEL
Address, Email address:
ADD1 RAMPURIYA KHURD RAMPURIYA KHURD INDORE MADHYA Indore MP 453661
Patelkris72@gmail.com

Mobile Number
9754227022
Date of execution: 16-Nov-2023
II Applicable Loan Type Facility
III Application ID 21615141
IV Facility Amount (Amount in numbers) Rs 60000
V Facility Amount (in words) Sixty thousand
VI Total interest charged during the entire tenor of the loan (in Rupees) Rs 8040
VII Processing Fees (%) 4 % (plus applicable taxes including GST) Applicable on Facility Amount (Non Refundable)
VIII Processing Fees including GST ( In Rupees) Rs 2832
IX Net disbursed amount (in Rupees) Rs 57168
X Total amount to be paid by the borrower (in Rupees) Rs 70872
XI Tenure of the Facility Amount (in days) 270
XII Number of installments of repayment 270
XIII Due date for Repayment and Frequency The repayments would be effective from the next day of Disbursement and continue until the tenure of the Facility i.e. on daily basis
XIV Rate of Interest (% per annum) 35 % (Interest will be accrued and applied daily)
XV APR
Annual Percentage Rate - Effective annualized interest rate (in percentage) (computed on net disbursed amount using IRR approach and reducing balance method) 		48.36 %
XVI Penal charges (% per annum) 36.5% p.a. on Overdue Amount
XVII Repayment: Equated Daily Installment (Rs) Rs 252
XVIII Mandate re-presentation / dishonor charge (Rs)

(Note: The Cheque/ECS/NACH dishonour Charges as referred to above are not compensatory and/or to be construed as any form of consideration towards the act of dishonour and in no ways should the same be construed as fees recovered under this Loan. It is abundantly clarified that SMFG India Credit does not tolerate dishonour of instruments and/or deposit of an invalid, fake or unworthy instrument issued towards meeting payment obligations under this Loan and any Charges collected thereof are not intended to compound such acts of dishonour. Notwithstanding any Charges collected hereof SMFG India Credit reserves its right to invoke appropriate civil and criminal laws.)		 Rs 200 + applicable taxes
To be applied on per instance/occurrence basis on each Mandate/NACH bounce
XIX Prepayment Charges (% per annum) Nil
XX Break up between Principal and Interest

Interest is accumulated on your loan account from the day of disbursement, hence values mentioned in the corresponding table are indicative. Actual values will be available in repayment schedule. 		Total Principal: Rs 60000
Total Interest: Rs 8040
XXI Cooling Period Zero pre-closure charges within 3 working days post disbursal of loan. Customer can return loan by paying the principal and the proportionate APR
XXII Details of LSP acting as recovery agent and authorized to approach the borrower OCL and other collection agencies appointed by OCL Click here to know the list of collection agencies appointed by OCL for providing collection services to the Lender
XXIII Details of REs nodal grievance redressal officer
  • Name: Ritesh Saxena
  • Email: GRO@smfgindia.com
  • Phone number: 022-42241220
  • Designation: Grievance Redressal Officer
XXIV Details of LSPs nodal grievance redressal officer
  • Name: Aditya Ranade
  • Email: Grievance-redressal_lending@paytm.com
  • Phone number: 0120-5083345
  • Designation: Nodal Grievance Redressal Officer
NOTICE AND REMEDIES ON THE HAPPENING OF AN EVENT OF DEFAULT
1. If any Event of Default or any event which after a lapse of time is capable of becoming an Event of Default takes place, the Lender may give notice of three days to the Borrower in writing specifying the nature of such Event of Default or of such event. If such an Event of Default is capable of being cured or remedied the Borrower shall cure or remedy the default or such event before the expiry of the 3 day notice period to the satisfaction of the Lender failing which, on the expiry of the period of notice the outstanding amounts of the Facility, together with the prepayment interest and all other sums due and/or to become due hereunder for the full term of this Agreement, shall immediately stand payable/repayable by the Borrower to the Lender . In addition, the Lender shall be entitled to exercise any or all of its rights, remedies, powers or discretions under the Finance Documents or under the applicable law(s).
2. The Lender may also terminate this Agreement at any time after the expiry of the period of notice
3. Notwithstanding any cancellation or termination pursuant to the termination provisions, all the provisions of this Agreement shall continue in full force and effect as herein specifically provided mutatis mutandis till such time as the Facility Amount is repaid by the Borrower, to the satisfaction of the Lender.

COLLECTION / ADMINISTRATION
The Borrower expresses, recognizes and accepts that the Lender shall, without prejudice to its right to perform such activities itself or through its officers or employees, be entitled and shall have full power and authority to appoint one or more third parties as the Lender may select and to delegate to such third party all or any of its functions, rights and powers under this Agreement relating to administration of the Facility including the right and authority to collect and receive on behalf of the Lender from the Borrower the interest and other amounts due from the Borrower under this Agreement and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices, contacting the Borrower at his office or residence for receiving cash/drafts/mandates from the Borrower and giving valid and effectual receipts and discharge to the Borrower. For the aforesaid purpose, the Lender shall be entitled to disclose to such third parties all necessary or relevant information pertaining to the Borrower and the Facility and the Borrower hereby consents to such disclosure by the Lender
The Borrower expressly authorize/ consent to Lender, its various service providers or agents, including for collection and recovery agents to contact the Borrower telephonically, through e-mails telephones, messages, SMS, Whatsapp or other applications or otherwise even if the names of the Borrower appear in the Do Not Call or Do Not Disturb Register to inform the Borrower about the Outstanding Dues under the Loan Documents or any other aspect pertaining to any loan facilities availed or to be availed by the Borrower. The Borrower also expressly declare that such e-mails, telephonic calls, messages, SMS, Whatsapp messages etc. from the tele callers, agents and/or service provider of Lender and its associates, affiliates and/or group companies will not cause an inconvenience to them.
Privacy Policy of Lending Service Provider: You can read LSP’s Privacy Policy here, as updated from time to time .

SMFG India Credit Fair Practices Code web link for Grievance Redressal Mechanism - https://www.smfgindiacredit.com/policies/fair-practices-code.aspx.

Privacy Policy of Lender SMFG India Credit Company Limited. You can read Lender’s Privacy Policy here, as updated from time to time
JANKESHWAR PATEL
(Customer Name)

2023-11-16 09:25:16
(Acceptance Date and Time)

110.227.58.37
(Customer IP)

For Lending Partner
SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.)

SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.)
No. 101, 102 & 103, 10th floor, North Avenue, Maker Maxity,
Bandra Kurla Complex, Bandra (E), Mumbai – 400051, Maharashtra
CIN: U65191TN1994PLC079235, PAN: AAACD1707C
Regd. Office: 3rd Floor, No-165 Megh Towers, PH Road Maduravoyal
Chennai 600 095

www.smfgindiacredit.com
namaste@smfgindia.com
1800 103 6001