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Altum Credo Corporate Section

Altum Credo Home Finance Private Limited (ACHFPL) is committed to maintaining the highest standards of transparency, integrity, and ethical conduct. Through robust policies and guidelines, we ensure compliance with regulatory requirements, safeguard customer interests, and foster trust in the housing finance ecosystem.

Compliance and Risk Management

KYC & AML Policy

Money laundering and terrorism financing pose significant risks to financial institutions. At Altum Credo, we adhere to the Prevention of Money Laundering Act (PMLA) and guidelines issued by regulators like RBI, SEBI, and NHB to prevent misuse of financial systems.

Key Objectives

  • Ensure customer identification and acceptance through reliable documentation.
  • Maintain compliance with PMLA and related regulations.
  • Safeguard company reputation and uphold ethical standards.
  • Assist law enforcement in combating financial crimes.

Risk Management Framework: To mitigate operational, legal, and compliance risks, we:

  • Monitor transactions exceeding regulatory thresholds.
  • Report suspicious activities to the Financial Intelligence Unit (FIU-IND).
  • Maintain transaction and customer records for five years.
  • Appoint designated compliance officers to oversee adherence to policies.

Customer Classification:

  • Low Risk: Salaried individuals, government employees, and low-turnover accounts.
  • Medium Risk: Private companies, partnerships, and LLPs.
  • High Risk: Non-residents, high-net-worth individuals, and politically exposed persons (PEPs).

Fair Practices Code

Our Fair Practices Code ensures transparency, fairness, and ethical conduct in all customer interactions. It is aligned with RBI’s Master Directions for Housing Finance Companies.

Commitments to Customers:

  • Clearly communicate product terms and conditions.
  • Handle complaints promptly through an accessible grievance redressal mechanism.
  • Protect customer privacy and confidentiality.
  • Ensure fairness in advertising and marketing materials.

Loan Application and Disbursement:

  • Provide detailed information on interest rates, fees, and charges upfront.
  • Issue acknowledgment for loan applications and process them within defined timelines.
  • Notify borrowers of any changes in terms and conditions, ensuring transparency.

Collection and Recovery:

  • Follow ethical and professional standards in loan recovery processes.
  • Avoid intrusive or inappropriate collection practices.
  • Ensure respectful and civil interactions with customers.

Transparency and Accountability

Disclosures

Liquidity Risk Management:

Altum Credo adheres to the RBI’s guidelines for managing liquidity risks. We maintain transparency in our operations and ensure the availability of adequate liquidity to meet obligations.

Regulatory Compliance:

In compliance with Section 52(A) of the National Housing Bank Act, Altum Credo has addressed all regulatory findings, ensuring corrective actions are implemented promptly. Transparency in reporting such events reflects our commitment to accountability.

Customer Support and Grievance Redressal

We prioritize customer satisfaction and provide multiple channels for addressing queries and concerns.

Grievance Mechanism:

  1. How to File a Complaint: Customers can lodge complaints through our website, customer service hotline, or email.
  2. Response Time: Acknowledgment within one week; resolution within six weeks.
  3. Escalation Matrix: If unresolved, customers can escalate the issue to the National Housing Bank’s Complaint Redressal Cell.

Contact Details:

Complaint Redressal Cell, Department of Supervision,
National Housing Bank,
4th Floor, Core-5A, India Habitat Centre, Lodhi Road, New Delhi – 110
Website: www.nhb.org.in

Educational Initiatives

We regularly educate customers and staff on KYC norms, AML policies, and ethical practices. Training programs ensure employees remain informed about regulatory updates and compliance requirements.

Key Takeaways:

  • Simplified processes for customer onboarding.
  • Transparent policies for loan management.
  • Continuous efforts to promote ethical financial practices.

Altum Credo is dedicated to building lasting relationships with customers by ensuring transparency, trust, and integrity in all its operations.

Annual Financial Statements

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