Welcome to OJAS MICRO.
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. They are regulated by Ministry of Corporate Affairs. Reserve Bank of India is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these companies deal with their shareholder-members only. microfinance means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.
TRANSPARENCY
A. To provide complete and accurate information to clients regarding all products and services offered.
B. To create awareness and enable clients and all other stakeholders to understand the information provided with respect to financial services offered and availed.
FAIR PRACTICES
A. To ensure that clients are protected against fraud and misrepresentation, deception or unethical practices.
B. To ensure that all practices related to lending and recovery of loans are fair and maintain respect for client’s dignity and with an understanding of client’s vulnerable situation.
PRIVACY OF CLIENT INFORMATION
To safeguard Morgage information of clients, allowing disclosures and exchange of relevant information with authorized personnel only, and with the knowledge and consent of clients.
INTEGRATING SOCIAL VALUES INTO OPERATIONS
A.To ensure high standards of governance and management.
B. To monitor and report social as well as financial data.