Collections SOP

Last Updated: 06/10/2020 (Version 1.1)

Rupifi Collections Process

Process followed by the business to remind customers for repayment on or before the due date.
This is continued if the repayments are not received by the due date.

Summary

All Customers (including those customers who are late in making their payments or have defaulted in their payment schedule) must be treated with respect, dignity, courtesy and fairness in debt collection efforts.

We believe that this is not only the right thing to do, but also the most effective.

This policy applies to all the employees , vendors/ agents or its employees which are hired or retained to collect dues and over dues from the customers.

Customers to be treated with Dignity.

Customers are entitled to privacy, privacy policy to be applied to all conversations with agents of the company.
All collection activities are  in compliance with code for collections of dues stipulated (from time to time) by the Reserve Bank of India. All emails, letters, and other communications must be in the format approved by Collections and legal department.


Steps followed :

1
The customer is reached out a few days before the due date approaches , only through non voice modes like Whats app and SMS.

2

Number of days prior to the due date is defined by the tenure and the program of the customer

3

No calls, very less calls  are made to ensure there is no inconvenience caused to the customer.

4

After the due date crosses , an attempt is made to reach out to the customer telephonically regularly.

5

If the customer is not contactable over telephone regularly  an authorized collection  representative is sent to the registered address to request for payments.

6

Incase of a dispute the same is highlighted to the respective market place.