Code Of Conduct

   We are happy to announce on all Deposits for Women, Girl Child, Widows, Disabled Personnel, Army Personnel and Farmers with 0.5% Additional Interest.

1. Every Employee shall maintain good conduct, discipline, punctuality and show courtesy and attention to all persons in their transactions or dealings with the Company.

2. Every Employee shall discharge his duties with utmost integrity, honesty, devotion and diligence and do nothing which is unbecoming of him or which is likely to tarnish the image of the organization. Cases of fraud and dishonesty will attract penalty of dismissal and legal action.

3. An Employee shall maintain secrecy about the affairs of the Company and its members and will sign a declaration of fidelity and secrecy in the prescribed form.

4. No Employee shall engage in any trade or business or accept employment or fee for any work done by him outside the organization.

5. No Employee shall take an active part in politics and stand for election anywhere outside and inside the Company.

6. No Employee shall indulge in gambling or speculative activities in any shares, stocks, securities, commodities or valuables. He can, however, make bonafide investment of his own funds in such securities as he may wish to buy.

7. An Employee shall not enter into any personal dealings with its members or service providers (including contractors, consultants and vendors) of the Company which may result in undue pecuniary advantages to the officer.

8. No Employee shall guarantee in his private capacity the pecuniary obligations of another person or agree to indemnify in such capacity another person from loss except with the prior approval of the Company.

9. An Employee shall so manage his private affairs as to avoid insolvency or habitual or excessive indebtedness. Issue of cheques by officers on their personal accounts without keeping sufficient balance therein is an act of serious misconduct and will attract stringent disciplinary action.

10. No Employee shall indulge in sexual harassment which includes such unwelcome sexually determined behaviour (whether directly or by implication) as :

• physical contact and advances;
• a demand or request for sexual favours;
• sexually coloured remarks;
• showing pornography, and

• any other unwelcome physical, verbal or non-verbal conduct of sexual nature.

Whether or not such conduct constitutes an offense of sexual harassment will be determined by a Complaints Committee formed for this purpose, who would receive and deal with the complaints lodged by the aggrieved staff.

Any violation of the code of conduct would constitute an act of misconduct for which disciplinary action may be taken by the Company and would be punishable under the provisions for penalties.

11. An Employee, as a general rule, shall not accept gifts or other benefits other than of nominal value from any individual or concern having official dealings with the Company or from any officer junior to him/her so as to avoid any possibility of such gifts or benefits even appearing to compromise business or official relationships. Officers must use their discretion in being satisfied that the gifts are indeed of nominal value.

12. No Employee shall take or give or attempt to take or give any undue assistance or use or attempt to use any unfair methods or means in respect of any examination or test conducted or held by the Company or any other authority or institution.

13. An Employee shall comply with all the terms and conditions in respect of any loan, advance or other facility granted by the Company.

14. No Employee shall use his position or influence directly or indirectly, to secure employment for his son, daughter or any other member of his family in any private undertaking having official dealings with the Company (this will include the Company’s borrowers, contractors, consultants and vendors).

15. No Employee shall grant on behalf of the Company any loan or advance to himself or his spouse, a Joint Hindu Family of which he or his spouse is a member or a partnership with which he or his spouse is connected in any manner or a trust in which he or his spouse is a trustee, or a private or public limited company, in which he or his spouse hold substantial interest. (“Substantial interest” as defined in clause (ne) of Section 5 of the Banking Regulation Act 1949).

16. No Employee shall grant on behalf of the Company any loan or advance to (a) a family member; (b) an individual who is the guarantor of a family member or an individual who is a partner in business of a family member; (c) a Joint Hindu Family in which a family member is a member; (d) a firm in which a family member is a partner, manager or guarantor; and (e) a company in which a family member holds substantial interest or is interested as director manager or guarantor, without prior permission of the Company.

17. Employees may not contribute the Company’s funds or assets to any political candidate, party, charity, or similar organization, unless such contribution is expressly permitted by law/ regulation / directive and has been preapproved by the appropriate authorized representative of the Company.

18. An Employee shall comply with all lawful and reasonable directions which may from time to time be given to him by an officer under whose control he may be placed.

19. Employees who suspect violations of the letter or spirit of the Nidhi Companies laid down systems, procedures or staff rules have an obligation to report their concerns to the Company’s designated Official whoever appointed by chairman.

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