Ensuring all customer complaints are given utmost importance and addressed at the earliest. This Policy on Customer Grievance Redressal Mechanism (“Policy”) of Quadrillion Finance Private Limited (“Company”), sets out a mechanism available within the Company to enable the customers of the Company to lodge their queries, complaints, grievances and / or give their feedback and suggestions to the Company in relation to their interactions with the Company, including financial assistance, if any, being considered for them and for addressing the same in a time-bound manner, by following the provisions as provided herein.
This Policy is being prepared in terms of Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 (“Direction”) and amended thereof.
The Company has a systematic procedure for handling customer grievances (as mentioned under Section IV below). The Company shall ensure to display the following information prominently, for the benefit of its customers, on the website and at its places of business:
the name and contact details (Telephone / Mobile no. / email address) of the Grievance Redressal Officer who can be approached by the customer for resolution of complaints against the Company.
detail procedure of customer grievance mechanism.
This Policy outlines the grievance redressal mechanism in relation to the services provided by the Company, and the various support channels made available by the Company for the purpose of raising any grievances, issues, requests or complaints with the Company in relation to such services. Through this Policy, the Company aims to effectively deal with and redress all grievances in a fair, transparent and timely manner to the satisfaction of financing partners or lenders, customers and other stakeholders. This Policy may be reviewed and updated by the Company from time to time.
The objectives of the Policy are:
Handling customer complaints promptly and treat all complaints efficiently and fairly as they can damage the Company’s reputation and business if not handled properly.
In an event that the customer is not satisfied with the resolution provided to him, he can escalate the issue to higher level in the organization.
Must work in good faith and without prejudice to the interests of the customer.
All communication in relation to this Policy shall be in writing.
MECHANISM TO HANDLE CUSTOMER GRIEVANCES/COMPLAINTS
The Company shall endeavor to address/respond to all complaints and grievances within a reasonable time and keep the customers informed about the status of their complaints.
The Company shall make available facilities at each of its branches, if any, and offices for the customers to lodge and/or submit their complaints or grievances, if any.
The Company will ensure that its grievance redressal procedure is made available on its website.
The Company shall not discriminate in extending products and facilities including loan facilities to physically / visually challenged applicants on grounds of disability. Further, the Company shall ensure redressal of grievances of persons with disabilities under the grievance redressal mechanism provided herein.
ESCALATION LEVEL FOR GRIEVANCE REDRESSAL MECHANISM
The Company has a dedicated team and an internal workflow to ensure that all grievances registered with the Company are recorded in a complaint management system for further resolution on a priority basis. Once a grievance is raised with the Company, it is registered as a ticket with a unique ID, assigned to the respective department/ team depending on the nature and category of the grievance, followed up with the respective department/ team, and then resolved through compilation and drafting of a final response. Additionally, for grievances related to failed or cancelled transactions, the Company has an internal mechanism to coordinate with the financing partners for the purpose of processing of the applicable refunds to the customers in accordance with applicable laws.
The Company has formulated the below described escalation matrix comprising of different support channels so that the grievances of customers are acknowledged, identified, assigned to the respective team/ division, and addressed in a transparent and timely manner. Submitting grievances through the below mentioned support channels will ensure that they are routed to the appropriate customer support team in the Company and processed expeditiously. At the time of raising a grievance through any of the support channels mentioned below, it is recommended that the customer provides complete details of the transaction as contained the Customer Grievance Form. The Company may request for additional documents from a customer, if needed.
Escalation Level 1:
Customers can register their grievances with the Company’s support team via the 24×7 support center by calling or writing to the Company, setting out all the necessary details regarding the transaction and description of the grievance. The Company’s support team will acknowledge the grievance within 24 (twenty-four) hours, promptly assign it to the concerned department based on the nature and category of the grievance, and attempt to resolve the grievance within 10 (ten) working days. Certain grievances may require coordination and action by other third parties and factors not in the control of the Company, and if the Company requires additional time, it will be informed to the Customer along with the reason of delay and expected resolution timelines.
Escalation Level 2:
If the customer is not satisfied with the resolution offered under Level 1 above, the customer can escalate the grievance by writing to the Company’s Senior Executive, setting out the necessary details regarding the transaction, description of the grievance, and the reason for dissatisfaction with respect to the resolution offered under Level 1 above, and the same will be responded to within 7 (seven) working days. The Senior Executive will co-ordinate and liaise with different department heads or third parties, for a timely resolution of the grievance.
Escalation Level 3:
In the event that any grievance through the above channels is not resolved within the prescribed time-frame under the Policy, or if the customer is not satisfied with the resolution offered through the above channels, the customer can approach the Grievance Redressal Officer appointed by the Company, through the contact details provided below. The Grievance Redressal Officer will respond within 15 (fifteen) working days of the receiving the Escalation Email. The details of the Grievance Redressal Officer is mentioned below:
In the event that any grievance through the above channels is not resolved within the prescribed timeframe under the Policy, or if the customer is not satisfied with the resolution offered through the above channels, the customer can approach the Nodal Officer appointed by the Company, through the contact details provided below (“Escalation Email”). The Nodal Officer will respond within 7 (Seven) working days of the receiving the Escalation Email.
The details of the Nodal Officer is mentioned below:
As Step 5, if the complaint is not satisfactorily addressed by the Grievance Redressal officer within 30 days of the receipt of the Escalation Mail, customer can approach to Reserve Bank of India (RBI). Please find below contact details of officer-in-charge of the Regional office of Department of Non- Banking Supervision (DNBS) of RBI, under whose jurisdiction the registered office of the Company falls.
NameofGrievance Redressal officer
General Manager, Department of Non- Banking Supervision (DNBS), Reserve Bank of India
The Customer Grievance Redressal mechanism and the Customer Grievance Policy shall be reviewed on an annual basis. The reviews shall consider the following: (a) Process improvement of redressal of grievances; (b) the overall performance of the complaint management system, and (c) the results of audit conducted by the Internal Audit Team of redressal of Grievances process and lapse reported, if any during the year.
A report on the complaints received shall be placed before the Board and sub- Committees of the Board, if any on a quarterly basis.
DISPLAY OF THIS POLICY
For the benefit of customers, the Company has displayed this Policy prominently, in all the office premises of the Company. This Policy shall also deal with the issues related to services provided by the outsourced agency.
The Board will be authorized to amend/modify this Policy or such other related guidance notes of Company, to be in line with the RBI or such other statutory
authority’s requirements, updates and/or amendments, from time to time.