Saral Loan

GRIEVANCE REDRESSAL POLICY

The company believes in providing prompt and efficient service to not only attract new customers, but also to retain existing ones. With this thought, the Company has come up with a Grievance Redressal Mechanism with the primary objective to serve the customers. The Company’s policy, on grievance redressal has been formulated taking into account the following:

The customers shall be treated fairly at all times.
Any complaints raised by customers shall be dealt with courtesy and without undue delay.
Grievances of pensioners, physically challenged and senior citizens shall be dealt with on priority basis.
The customers shall be fully informed of avenues to escalate their complaints/grievances within the organization and their rights to alternative remedy, if they are not fully satisfied with the response of the company to their complaints.
All the complaints shall be dealt efficiently and fairly to protect the reputation and business.
The employees shall work in good faith and without prejudice to the interest of the customers
In order to make the Company’s redressal mechanism more meaningful and effective, a proper structure shall be implemented to ensure that the redressal sought is fair and within the given frame-work of rules and regulation of the Company. The customer shall have every right to register his/her complaint if he/she is not satisfied with the services provided by the company or any other agencies associated with the company.
Customers can give file complaint in writing or over telephone or through e-mail. In case the complaint is not resolved within the given time or if he/she is not satisfied with the solution provided by the Company, the customer shall have the right to use other legal avenues with their complaint for grievance redressal.
Customer shall be treated with all fairness and respect.
Dealings with customers shall be in a transparent and ethical manner
Sales Executive shall help the customer understand the Company’s philosophy, Loan process, diminishing interest rate with example, Loan credit shield charges etc.
Processing fee shall not be handled in cash or through cheque, the same shall be deducted upfront from the loan disbursed amount.
Loan application form shall be free of cost.
The customer shall not pay any commission to staff or anyone to avail of the loan from the Company.
The company shall provide welcome letter in a very transparent and understandable manner containing following particulars:
- Interest
- Processing fee
- Insurance premium
- Credit shield
- All-inclusive IRR
- Re-Payment Schedule
- All other terms and conditions of loan.
- Company shall not indulge in coercive practices during the collections.
- Company shall provide receipts for all cash payments.
In case of any unforeseen exceptional circumstances resulting in default in repayments, the Company shall be compassionate towards the customers.
Customer can approach the Manager in difficult circumstances and based on the genuineness of the case, the Company shall endeavour to help such customers.
Company respects customers’ privacy and shall treat customer information as private and
confidential.

At Saral Loan, customer service and satisfaction shall have our prime focus. We believe that providing prompt and efficient service is essential not only to attract new customers, but also to retain existing ones. This will ensure that the redressal sought is just and fair and is within the given frame- work of rules and regulation.

GRIEVANCE REDRESSAL FRAMEWORK

Customers who wish to provide feedback or send in their complaint can use the following channels available with the company to lodge their complaints:

He/she can make complaint in writing addressed to the concerned Manager, gist of complaint and complete contact address/phone number of the complainant.
He/she can mail the complaint on Company’s mail id, i.e. grievance@saralloan.com.

If the customer is not satisfied with resolution provided by the office, the customer may provide feedback or send in their complaint using the following channels between 9:00 am and 5.00 pm, from Monday to Friday (except on national holidays).

Email us at grievance@saralloan.com

Call us at +91 9823080188

Write to us at the below mentioned address:

CUSTOMER CARE

Finwizz Retail Finance Private Limited
Flat No 103, 1st Floor Vikram Goldmine
CTS No. 1225C, Pl. No. 606, C FC Road
Pune Maharashtra 411004 India

COMPLAINT ESCALATION

The complaint shall be responded to within one month. In case the customer is still not satisfied with the response or has not received a response from the company within one month, he/she may contact the Managing Director of company on the same mail ID as given above.

If the complaint/dispute is not redressed within a period of one month, the customer may appeal to Officer-in-Charge of the Regional Office of Department of Non-Banking Supervision of RBI under whose jurisdiction the Registered Office of the Finwizz falls.

The Company shall provide for three tier Grievance Redressal Mechanism to resolve any of its customers query or grievance:

Level 1:

The customer may register their query/ complaint to the Company which shall be addressed in connection with any matter pertaining to business practices, lending decisions, credit management, recovery and complaints relating to updating/altering credit information. The details of the Grievance Redressal Officer are given as follows:

Name of the Grievance Redressal Officer	Mr. Anil Matthew
Address	Flat No 103, 1st Floor Vikram Goldmine CTS No. 1225C, Pl. No. 606, C FC Road Pune Maharashtra 411004 India
Telephone	+91 9823080188
E-mail ID	Anil.mathew@saralloan.com

Level 2:

If the complaint is not resolved within 15 days, the customer shall complaint to the Chairman of the Company at his following email id: rajeev.singhvi@saralloan.com.

Level 3:

If the complaint / dispute is not redressed within a period of one month from date of its receipt, the customer may appeal to:

Reserve Bank of India
Department of Non-Banking Supervision
Central Office Centre I,
World Trade Centre, Cuffe Parade,
Colaba, Mumbai 400005.

MANDATORY DISPLAY REQUIREMENTS

Finwizz shall have the following in office:

Appropriate arrangement for receiving complaints and suggestions.
Display of the name, address and contact number of the Complaint Redressal Officer. The process of the complaint redressal unit shall ensure closure of all complaints to the customers’ satisfaction.
The company shall ensure that the complaint is escalated to the appropriate levels in case it is not possible to resolve at his/her level. Whilst the ultimate endeavour is to ensure that the company reaches a situation where its customers don’t have to complain to senior management to get an effective redressal, the company will have a robust mechanism to handle these complaints, review them from a point of view of understanding reasons for the complaint and for the escalation and working on prevention of recurrence thereof.

RESOLUTION OF GRIEVANCES

Grievances related to behavioural aspects

Such complaints shall be handled courteously, sympathetically and above all swiftly. Misbehaviour/rude behaviour with customers shall be treated at Zero tolerance level and immediate action shall be taken. Finwizz, under no circumstances, shall tolerate misbehaviour of any degree by staff members.

Grievances relating to transactions/operations

Primarily, the company’s brick-and-mortar office shall be responsible for the resolution of complaints/grievances in this category. The office shall be responsible for ensuring rectification of entry/transaction or satisfaction of customers. It shall be the foremost duty of the branch to see that the complaint is resolved to the customer’s satisfaction and if he is not satisfied, then to provide him with alternate avenues to escalate the issue. In case, it is not getting resolved at branch level, they shall refer the case to Head Office for guidance/resolution.

Time Frame

To register complaints, the customers may use any of the channels mentioned above. If the complaint has been received in writing, Finwizz shall endeavour to send an acknowledgement or response. Once the matter is examined, Finwizz shall endeavour to either send a final response to the customer or an intimation seeking more time within one month upon receipt of complaint.

Complaints that are received at our end shall be seen in the right perspective and analysed from all possible angles. The communication of Finwizz stand on any issue shall be provided to the customers. Complaints that require some time for examination of issues involved shall be acknowledged promptly.

The aforesaid policy shall be reviewed periodically /revised as and when there are any new changes incorporated by Finwizz in handling complaints / grievances of the customer which includes introduction of new grievance channels, if any.

REVIEW OF GRIEVANCE REDRESSAL MECHANISM

The concerned manager shall report to Business Head at Head Office, the action taken on the complaint/grievance once in a calendar quarter.
All the closed and pending grievances shall be consolidated in an appropriate summary form and submitted to the Board once in a Quarter, by the Business Head for compliance.
If there is nothing to report, NIL report shall be submitted to the Board. At a minimum, the total no. of complaints, received, disposed and pending, with reasons, shall be placed before the Board for information/instructions, if any, once in a calendar quarter.
The internal auditors shall have to report non-compliance, if any, by the branches in their regular audit reports.