To provide loans to customers against gold jewellery as collateral security.  The loan is given as a demand loan. Tenure of the loan All gold loans are sanctioned for a maximum tenor of 12 months unless otherwise specified under a particular scheme.

Personal Loan is a loan given to clients for a specified sum of money repayable over a predetermined period of time. These are closed ended &secured installment based loans targeted at a section of the Indian society which lives in India and does not have regular access to Banks and other Financial Institutions to serve their financial needs.

The micro finance sector has changed the situation little bit but the quantum and policy implemented are not according to the need of the society. And also there is no timely updating in the products and hence it couldn’t make any economic revolution in the society even after the long-time presence about 30 yrs., except the company’s growth.

MSME Loan is a loan given to clients for a specified sum of money repayable over a pre-determined period of time. These are closed-ended &secured installment-based loans targeted at a section of the Indian society which lives in rural India and does not have regular access to Banks and other Financial Institutions to server there financial needs.

The Prevention of Sexual Harassment (PoSH) at Workplace Act of India mandates every organization to define its sexual harassment policies, prevention systems, procedures, and service rules for its employees. This policy has been framed in accordance with the provisions of “The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013” and rules framed thereunder (hereinafter “the Act”).

As per this policy, rate of interest on gold loan schemes are fixed taking into account various factors such as cost of funds, overhead costs, fair return on capital employed, market conditions and guidelines of Reserve Bank of India regarding Fair Practices Code.

The Board of Directors of the Company or a Committee drawing power from the Board, while fixing interest rates on Gold Loan Schemes shall be guided by this policy document on Interest Rate Fixation

In addition to cost factors set out hereunder, the Board or the Committee shall be guided by the market conditions and various rules and regulations, if any, prescribed by the Reserve Bank of India or such other competent authority from time to time.

Gold Loans are sanctioned as Demand Loans against pledge of gold jewelry as collateral security. Loans are generally granted for a maximum tenure of 12 months or for any other periods as specified in the scheme under which the loan is availed. As per the terms and conditions of sanction, the loan should be closed at the end of the maximum tenure specified along with interest. The ornaments are liable to be auctioned for realization of the dues, in case of non-redemption of the ornaments by the borrower by paying the dues on or before the due date as per the sanctioned tenure mentioned in the pledge letter.Notwithstanding anything stated herein, the company reserves the right to recall the loan and auction the gold without waiting for expiry of the periods stipulated above in case of eventualities leading to probable loss on account of shortfall in the value of security due to fluctuations in Gold Price or any other reasons or any other contingencies, after giving a minimum of 14 days’ notice to the borrower.

Non-Banking Finance  Companies  are  essential  to  the  Indian  Financial  System  because  of  the significant roles they play in nation building and financial inclusion. They complement the role of the banking sector in reaching  out and  extending credit  facilities to  the unbanked  sections of  society. Respectively, they always consider their employees as the  backbone of their Companies  and are aimed at providing employee satisfaction.

This policy intends to establish the importance of ALM systems that need to be put in place since intense competition for business involving both the assets and liabilities requires the Company to maintain a good balance among spreads, profitability, and long-term viability

This policy is to address unanticipated and unintended losses to the human resources & financial assets of the Company without unnecessarily limiting the activities that advance its mission and goals. SITS has introduced effective risk management systems that address the issues relating to various risks. The effective management of risk is vital to the continued growth of the Company.

Passwords are an important aspect of computer security and are considered as a frontline of protection for user accounts. A weak password may result in compromising the entire SITS Group’s corporate network. As such, all the SITS Group employees (including contractors and vendors with access to the SITS Group systems) are responsible for taking appropriate steps as outlined below to select and secure their passwords.

IT Governance is an integral part of corporate governance. It involves leadership support, organizational structure and processes to ensure that the NBFC’s IT sustains and extends business strategies and objectives. Effective IT Governance is the responsibility of the Board of Directors and Executive Management.

South Indian Trading Syndicate Pvt.Ltd believes in the conduct of the affairs of its constituents in a fair and transparent manner by adopting highest standards of professionalism, honesty, integrity and ethical behaviour. Towards this end, the SITS Finance has formulated the SITS Code of Conduct (“the Code”), which lays down the principles and standards that should govern the actions of SITS Finance and their employees. Any actual or potential violation of the Code, whosoever insignificant or perceived as such, would be a matter of serious concern for the Company. The role of the employees in pointing out such violations of the Code cannot be undermined.

The Code of Conduct for Directors & Senior Management of South Indian Trading Syndicate (“the Code”) helps to the standards of business conduct of South Indian trading Syndicate (“the Company”) and ensures compliance with various legal requirements which governs the operations of the Company. The purpose of code is to promote ethical conduct and to deter wrongdoing so as to protect the best interest of the company and its stakeholders. The matters covered in the Code are of utmost importance to the Company, our shareholders and our business associates and partners. Further, these are essential so that we can conduct our business in accordance with stated values.

Change Management Procedure is to ensure that changes are effected in a rational and
predictable manner while carrying out replacement/updating of Information processing facilities at SITS. This procedure is applicable whenever a change is effected for any of the Information Processing facilities of SITS
across its various locations.

The Reserve Bank of India has been issuing guidelines in regard to the Know Your Customer (KYC) standards which need to be followed by banks and NBFCs and the measures to be taken in regard to Anti Money Laundering (AML)/ Combating the Financing of Terrorism (CFT). NBFCs are required to put in place a comprehensive policy framework, duly approved by the Board of Directors or competent authority authorized by the Board of Directors, in this regard. This policy document has been prepared in line with the RBI guidelines

This Fair Practices Code has been framed with a view to providing to all its stake holders, especially customers an effective overview of the practices followed by the Company while offering its products and services. This Fair Practices Code has been prepared taking in to account the “Guidelines on Fair Practices Code for NBFCs” issued by the Reserve Bank of India updated from time to time and aims to enable customers to take informed decisions in respect of the facilities and services offered by the Company

We collect information from you when you register on our site, place an order, subscribe to our newsletter, respond to a survey, fill out a form. When ordering or registering on our site, as appropriate, you may be asked to enter your: name, e-mail address, mailing address, phone number

The Company has provided for four tiers Grievance Redressal Mechanism to resolve any of its customers’ query / grievance.

Prevention of Sexual Harassment (POSH) is a law as the name suggests, was brought into
protect women from any harassment at work along with providing a safe, non-discriminatory environment within their workplaces.

A transaction with a Related Party shall be considered material if the transaction(s) to be entered into individually or taken together with previous transactions during a financial year, exceeds ten percent of the annual consolidated turnover of the Company as per the last audited financial statements of the Company.