Merry Life Plus is a ‘Responsible Lender’ that ensures that best practices in consumer protection are followed throughout its products and services, as proposed in various best in class frameworks.
Merry Life Plus's lending methodology places strong emphasis on establishing the customer’s capacity to repay and avoiding over-indebtedness. Capacity-based lending has been a trademark of Accion International and its partner institutions around the world and has been successfully adopted by Merry Life Plus. Multiple lending and over-indebtedness are becoming a concern in the Indian micro-finance space, and various initiatives including the adoption of a code of conduct for responsible lending and the creation of a credit bureau for micro-finance institutions are underway.
Merry Life Plus takes various initiatives to ensure that customers are adequately supported and protected by doing the following: