Grievance Redressal
In order to make our Company’s redressal mechanism more meaningful and effective, a structured system has been built. This system would ensure that the redressal sought is just and fair and is within the given frame- work of rules and regulation.
a. Machinery to handle customer complaints/ grievances
Customers who wish to provide feedback or send in their complaint can approach the Complaints Redressal Officer between 9:30 am and 5:00 pm, from Monday to Friday (except on national holidays).
Customer Raises Complaint
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Level 1: Compliance Officer (10 Days)
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Level 2: Nodal Officer (10 Days)
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Level 3: Managing Director
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Final Resolution
Escalation Matrix
| Level | Name | Designation | Response Time | |
|---|---|---|---|---|
| Level 1 | Manju Khurana | Compliance Officer | [email protected] | 10 Days |
| Level 2 | Pradeep Kumar Bansal | Nodal Officer | [email protected] | 10 Days |
| Level 3 | P N Vijay | Managing Director | [email protected] | Final Escalation |
Regulatory Disclosure
This grievance redressal mechanism is designed in accordance with RBI guidelines and DAKSH directives. If the complaint/dispute is not redressed within a period of one month, customer may approach RBI Ombudsman if not satisfied with the resolution.
Mandatory display requirements
Our Company has the following in all our branches:
- Appropriate arrangement for receiving complaints and suggestions.
- Display of the name, address and contact number of the Complaint Redressal Officer. The process of the complaints redressal unit will ensure closure of all complaints to the customers’ satisfaction.
Regulation of Excessive Interest charged
- The Company has laid down appropriate internal principles and procedures in determining interest rates and processing and other charges.
- The Company has adopted an interest rate model taking into account cost of funds, margin and risk premium for determining rate of interest to be charged for loans and advances.
- The rate of interest to be charged depends much upon the gradation of the risk of borrower viz. the financial strength, business, regulatory environment affecting the business, competition, past history of the borrower etc.
- The rate of interest will be annualised so that the borrower is aware of the exact rates that would be charged to the account.
