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Dear Sir/Madam, 


Pursuant to the NHB (ND)/DRS/Policy Circular No.82/2017-18 dated October 17, 2017 (“the Circular”) issued by the National Housing Bank (NHB) prescribing the Model Code of Conduct for Direct Selling Agents (DSAs) and Direct Marketing Agent (DMAs)(“Model Code of Conduct”), Housing Finance Companies are required to adopt and implement the same. 

I /We acknowledge and agree that I/We have read the Code of Conduct adopted by Tata Capital Housing Finance Limited (“the Company”) which is as under:


1.0 Preamble

The Model Code of Conduct (hereinafter referred to as “Code”) is a code of conduct in respect of Direct Selling Agents (“DSAs / Service Providers”) operating as our agents. The purpose of this Code is to ensure that DSAs / Service Providers act and conduct in conformity with the policies and procedures as set in this Code.


1.1 Applicability

Upon adoption and inclusion as part of agreement between Tata Capital Housing Finance Limited (“TCHFL”) and the DSAs / Service Providers, the Code will apply to all persons / legal entity involved in marketing and distribution of any loan or other financial products offered by TCHFL. The DSAs / Service Providers and its representatives, employees, personnel must agree to abide by this Code prior to undertaking any Direct Marketing operation and distribution on behalf of TCHFL. Any such representatives, employees, personnel of the Service Providers found to be violating this code may be blacklisted and such action taken should be reported to TCHFL from time to time by the DSAs / Service Providers. Failure to comply with this requirement may result in permanent termination of business of the Service Provider with TCHFL and may even lead to permanent blacklisting.

A declaration-cum-undertaking in the format prescribed in ‘Annexure - 1’ shall be obtained by the Service Provider from its representatives, employees and personnel before assigning them their duties as annexed to this Code.


2.0 Tele-calling a Prospect (a prospective customer)

DSAs / Service Providers who are involved in telemarketing activity should have a valid registration certificate from Department of Telecommunication (DOT), Government of India. Sourcing agents should be registered in terms of guidelines issued by TRAI from time to time for all their promotional activities.

DSAs / Service Providers should provide TCHFL with the list of telemarketers engaged by them and the telemarketing numbers being used by them for carrying out their promotional activities from time to time.

DSAs / Service Providers will ensure that all their sub agents / representatives engaged in tele marketing are registered with Dept. of telecommunication (DOT) as tele marketers.

A Client is to be contacted for sourcing any loan or other financial products offered by TCHFL only under the following circumstances:

  • When the Client has expressed a desire to avail loan or other financial products or offered by TCHFL through TCHFL’s internet site / call centre / branch or through the Relationship Manager of TCHFL or has been referred to by another prospect / customer or is an existing customer of TCHFL who has given consent for accepting calls on the loan or other financial products offered by TCHFL.
  • When the client’s name / telephone no / address is available and has been taken from one of the lists / directories / database approved by TCHFL, after taking his / her consent and Do Not Call registry de-dupe.

DSAs / Service Providers or/and its employees/representatives should not call a person whose name / number is flagged in “Do Not Disturb” list of TCHFL or any telecom Service Provider or on the website of Telecom Registry Authority of India.


3.0 When can a Client be contacted on telephone?

Telephonic contact must normally be limited between 09:30 hours and 19:00 hours. However, it may be ensured that a Client is contacted only when the call is not expected to inconvenience him / her.

Calls earlier or later than the prescribed time period may be placed only when the Client has expressly authorized the DSAs / Service Providers to do so either in writing or orally.

Residence / Business / office Address visit must normally be limited between 09:30 hours and 19:00 hours. Visit earlier or later than the prescribed time may be made only when the Client has expressly authorized the representative of the Service Provider to do so either in writing or orally.


4.0 Respect the Client’s privacy

DSAs / Service Providers should respect the Client’s privacy. The Client’s interest may normally be discussed only with the Client and any other individual /family member such as Client’s accountant /secretary /spouse authorized by the Client.


4.1 Leaving messages and contacting persons other than the Client

Calls must first be placed to the Client. In the event the Client is not available, a message may be left for him /her. The aim of the message should be to get the Client to return the call or to check for a convenient time to call again. Ordinarily, such messages may be restricted to:

“Please leave a message that XXXXX (Name of officer) representing TCHFL called and requested to call back at ZZZZZZ (phone number).”

The message must indicate that the purpose of the call is regarding sourcing of loan or other financial products offered by TCHFL


5.0 No misleading statements / misrepresentations permitted

The Service Provider should not:

  • Mislead the Client on any service / product offered;
  • Mislead the Client about their business or organization’s name, or falsely represent themselves;
  • Make any false / unauthorized commitment on behalf of TCHFL for any facility / service.


6.0 Telemarketing Etiquette


  • No calls prior to 0930 Hours or post 1900 Hours unless specifically requested.
  • No serial dialing
  • No calling on lists unless list is cleared by the team leader


  • Identify yourself as representative of the DSAs /Service Providers and on behalf of TCHFL
  • Request permission to proceed
  • If denied permission, apologize and politely disconnect.
  • State reason for your call
  • Always offer to call back on landline, if call is made to a cell number
  • Never interrupt or argue
  • To the extent possible, talk in the language which is most comfortable to the Client
  • Keep the conversation limited to business matters
  • Check for understanding of Most Important Terms and Conditions by the Client if he expresses interest to avail facility under Home Loan Products of TCHFL
  • Reconfirm next call or next visit details
  • Provide your telephone number, your supervisor’s name or TCHFL officer contact details, if asked for by the Client.
  • Thank the Client for his /her time


  • Clients who have expressed their lack of interest for the offering should not be called for the next 3 months with the same offer
  • Provide feedback to TCHFL on Clients who have expressed their desire to be flagged “Do Not Disturb”
  • Never call or entertain calls from Clients regarding products already sold.
  • Advise them to contact the Customer Service Staff of the concerned branch or the Registered Office of TCHFL.


7.0 Gifts or bribes

The representative of the DSAs / Service Providers must not:

  • Accept gifts from Clients or bribes of any kind. Any representative of the Service Provider, offered a bribe or payment of any kind by a Client, must report the offer to his /her management.
  • Not offer any gifts / gratitude in cash or in kind to the Client to solicit business


8.0 Precautions to be taken on visits / contacts

The Service Provider should:

  • Respect personal space, maintain adequate distance from the Client / prospective Client;
  • Ensure that the Client / prospective Client is not visited within a period of 3 months of expression of lack of interest for the offering by the Client;
  • Not to enter the Client’s residence /office against his /her wishes;
  • not visit in large numbers, i.e. not more than one representative of the DSAs / Service Providers and one supervisor, if required;
  • respect the prospective customer's privacy;
  • if the prospective customer is not present and only family members/office persons are present at the time of the visit, he /she should end the visit with a request for the prospective customer to call back;
  • provide his /her telephone number, name of the supervisor or the concerned officer of TCHFL and contact details, if asked for by the customer; and
  • Limit discussions with the prospective customer to the business and maintain a professional distance.


9.0 Appearance & Dress Code

The representative of the Service Provider must be in proper formal attire while meeting up with the Client.

For men this means:

  • Well ironed trousers,
  • Well ironessd shirt, shirt sleeves preferably buttoned down.

For women this means:

  • Well ironed formal attire (saree, suit, etc.)
  • Well groomed appearance. (Jeans and /or T- Shirt, open sandals are not considered appropriate under formal attire)


10.0 Handling of letters and other communication

Any communication sent to the Client should be only in the mode and format approved by TCHFL.


11.0 Qualifications for Direct Selling Agents / Service Providers:

No specific qualification is required for individuals. However corporate DSAs / Service Providers, depending upon the nature of the entity, shall ensure that their Partnership Deed, Memorandum of Association or any other document evidencing the constitution of the entity shall contain as one of its main objects soliciting or procuring the DSA/DMA business.


12.0 Empanelment of DSA / DMA

DSA / DMA seeking of engagement / empanelment with the HFC shall submit the application for empanelment in the illustrative format given at ‘Annexure - 2’.


13.0 Agreement with DSAs / Service Providers

The DSAs / Service Providers shall provide the services as per the terms and conditions set out in Standard Agreement. Every such Agreement should address the risks and risk mitigation strategies. The Agreement should be sufficiently flexible to allow the TCHFL to retain an appropriate level of control over the outsourcing and the right to intervene with appropriate measures to meet legal and regulatory obligations. The Agreement should also bring out the nature of legal relationship between the parties – i.e. whether the agent, principal or otherwise.


14.0 Termination of Agreement

A termination clause and minimum period to execute a termination provision, should be included. The agreement shall automatically be terminated unless renewed by a fresh contract by the TCHFL immediately after the expiry of the period of agreement. No DSA / Service Provides shall be allowed to do any fresh business on behalf of the TCHFL after termination of Agreement until and unless it renewed by a fresh agreement.


15.0 Training to DSA / Service Providers or/and its employees/representatives

DSAs / Service Providers seeking engagement / empanelment with TCHFL, it or/and its employees/ representative will have to go through preliminary training. TCHFL shall also organize a training program every year for DSAs / Service Providers. TCHFL shall also maintain record of training provided by them.


16.0 Maintenance of Database of DSAs / Service Providers

HFCs availing the services of DSA / Service Providers shall maintain up-to-date database of DSAs/ Service Providers engaged / empaneled with them.


  • In the event of termination of the agreement for any reason, this should be publicized so as to ensure that the customers do not continue to deal with that service provider.
  • No payment to DSAs /Service Providers shall be made in Cash. The fee, incentive etc. shall be made only by way of direct credit to their Bank account.
  • The Grievance Redressal Machinery within TCHFL will also deal with the issue relating to services provided by DSAs / Service Providers.
  • TCHFL will prescribe the operational area of work for DSAs / Service Providers.
  • Audits may be conducted by TCHFL to assess the adequacy of the risk management practices adopted in overseeing and managing the arrangement with DSAs / Service Providers.
  • The lead shall be shared by the DSA / DMA in the illustrative format given at ‘Annexure - 3’.
  • DSA / Services Providers shall ensure the preservation and protection of the security and confidentiality of the customer information or data which are in the custody or possession.
  • DSA / Services Providers shall report the fraud erring employees / representatives periodically to HFCs and consolidated data /information on the same shall be submitted by HFCs to NHB. The information shall include name of the person, address, name of the DSA associated with and nature of fraud. Such employees / representatives shall be barred permanently for doing the business of DSA /DMA in future with HFC.

I/We agree that by clicking on ‘I Agree’ I/We am providing my/our explicit consent to the following;

  1. I/We agree that I/We have obtained the required declaration cum undertaking from my/our employees/ representatives as required by the Circular.
  2. I/We agree that I/We shall ensure full compliance with the Code of Conduct and shall not do any act or omission that shall be in violation of the Code of Conduct.
  3. I shall indemnify the Company, its parent company/ its subsidiaries/ affiliates and keep them indemnified in any case resulting out of breach, violation or non-compliance with the Code of Conduct.