Member Policy

1. Membership Eligibility

1.1 Basic Requirements

• Must be a citizen of India
• Must be at least 18 years of age
• Must be of sound mind and not insolvent
• Must not be a defaulter in any financial institution
• Must provide valid address proof

1.2 Documentation Required

• PAN Card (mandatory)
• Aadhaar Card
• Address proof (Electricity bill, Bank statement, etc.)
• Income proof (Salary certificate, ITR, etc.)
• Passport size photographs (2 nos.)

2. Membership Process

2.1 Application

1. Submit completed membership application form
2. Attach all required documents
3. Pay membership fee (if applicable)
4. Submit application to our office

2.2 Verification and Approval

• Document verification by our staff
• Background check and credit assessment
• Approval by Board of Directors
• Issuance of membership certificate

3. Member Rights

• Right to vote in general meetings
• Right to receive dividends (if declared)
• Right to access company information
• Right to apply for loans and deposits
• Right to participate in company activities
• Right to transfer shares (subject to rules)

4. Member Obligations

• Comply with company rules and regulations
• Pay all dues and charges on time
• Maintain confidentiality of company information
• Attend general meetings when possible
• Update personal information when changed
• Not engage in activities harmful to the company

5. Shareholding Requirements

5.1 Minimum Shareholding

• Each member must hold minimum shares as per rules
• Shares cannot be transferred within first year
• Transfer of shares subject to Board approval
• Shares can be pledged as security for loans

5.2 Share Transfer

• Transfer deed must be executed
• Board approval required for transfer
• Transfer fee may be applicable
• Shares cannot be transferred to non-members

6. Loan Eligibility for Members

6.1 General Conditions

• Must be a member for at least 6 months
• Must have good credit history
• Must provide adequate security
• Must have regular income

6.2 Loan Limits

• Deposit Loans: Up to 90% of deposit value
• Gold Loans: Up to 75% of gold value
• Mortgage Loans: Up to 60% of property value
• Total exposure per member as per policy

7. Deposit Benefits for Members

• Higher interest rates for members
• Priority in loan processing
• Special deposit schemes
• Flexible deposit terms
• Quick processing of applications

8. Termination of Membership

8.1 Voluntary Termination

• Member can resign by giving notice
• All dues must be cleared
• Shares can be transferred or redeemed
• No outstanding loans allowed

8.2 Involuntary Termination

• Default in loan repayment
• Violation of company rules
• Fraudulent activities
• Insolvency or bankruptcy

9. Grievance Redressal

Members can raise grievances through:

• Written complaint to the management
• Email to info@jakanoor.in
• Direct meeting with authorized personnel
• Appeal to Board of Directors if required

10. Contact Information