Grievance Redressal Policy

Introduction

The Company is a Non-Deposit taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India and is in the business of providing of short term unsecured loans.

As per the guidelines of RBI, all NBFCs should ensure that a suitable mechanism exists for receiving and addressing complaints from its customers with specific emphasis on resolving such complaints fairly and expeditiously. In order to address customer grievances while servicing the customers, the Company formulates a suitable mechanism to address such requirements.

Objective
  • 1. To ensure fair and equal treatment to all its customers without any bias on all occasions.
  • 2. The resolution of grievances is within defined Turn Around Time.
  • 3. The resolution process is accelerated with proactive interventions by the Grievance Redressal Committee to cause nil distress to the customers.
Grievance Assessment

This policy stipulates the requirements relating to registration of complaints, escalation of complaints, resolution of complaints, and periodic review of grievances redressal.

The customer/borrower may contact our customer support in case of any query/problem or grievance. The customer/borrower can:

Voice Support –

The customer can call us at Customer care at 080-48126351 between 09:30 AM to 06:30 PM from Monday to Saturday.

Email Support –

Please write to us from your registered email ID at support@loanfront.in (Please ensure to mention your loan account number and contact number in the email). The customer will receive a response from the team within 3 business days, but there will be instances where in the team may even take longer to respond/reply.

Level 1

If the customer/borrower is not satisfied with the response received from the Company, he/she may raise the issue with Grievance Redressal Officer within 15 days. The name and address and contact details are as furnished below.

Name: Mr. Satya Mallidi,
Head of Operation,
Address: No. 1, Ground Floor,
Old Airport Road, Domlur Layout,
Near Domlur Post Office,
BengaluruKarnataka 560071.
E-mail id: satya@vaibhav-vyapaar.com.

Level 2

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

Deputy General Manager,
Department of Non-Banking Supervision,
Reserve Bank of India,
15, Netaji Subhas Road,
Kolkata- 700001.
Email to: cms.odtkolkata@rbi.org.in.

Review and Monitoring

The Company review and monitor the grievances received in the following manner:

  • On a daily basis, the status of resolutions of complaints/grievances shall be monitored by the authorized staff and put before the In-charge.
  • On a monthly basis, compliance to fair practices code including all the grievances received, resolutions provided, the turnaround time shall be reviewed by Board.
  • On a quarterly basis, the Board reviews the functioning of the Fair Practice Code, including the effectiveness of the Grievance Redressal Mechanism.