1.) In accordance with the provisions of Circular No. DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 and DOR.No.BP.BC.71/21.04.048/2019-20 dated May 23, 2020 read with the Policy on Moratorium – COVID 19 Regulatory Package (‘Moratorium Policy’)
Policy on Moratorium on EMI – COVID 19 Regulatory
issued by Bussan Auto Finance India Private Limited (‘BAF India’ or ‘Company’), the Company had granted Moratorium Benefit to its Customers for their loan accounts maintained with the Company.
In view of the above and the Circular No. NPCI/2019-20/NACH/Circular No. 012 issued by the National Payments Corporation of India (NPCI), the Customers are hereby informed that to record the impact of the Moratorium Benefit availed by the Customers, the NACH mandates shall be amended by changing the Loan Amount and/or the NACH mandate tenure.
It may be noted that the rescheduling of the payment was a condition precedent to the Moratorium Benefit availed by them, therefore, the Company have an implied consent from the Customer for NACH mandate amendment.
In case of any dispute, the Customers may contact the Company at 011-49580301 or write at firstname.lastname@example.org.
2.) The Central Government (Ministry of Finance) has announced the “Scheme for grant of ex-gratia
payment of difference between compound and simple interest for six months to borrowers in
specified loan accounts (1.3.2020 to 31.8.2020)” on 23rd October 2020.
In view of the said scheme BAF India shall extend the said benefit to its eligible customers by crediting their respective loan accounts on or before November 5, 2020.
Please refer the FAQs for clarification on the provisions of the scheme.
For any queries related to the said scheme and grant of the ex-gratia amount you may submit your query / grievance Customer Helpdesk by selecting Ex Gratia Scheme from the dropdown list. For detailed procedure please refer the Grievance Redressal Mechanism.