The objective of this policy is to ensure that:
All complaints and grievances raised by
customers are addressed promptly, efficiently, and transparently in a time bound manner. Customers have access to a fair and effective
grievance redressal mechanism. A culture of continuous improvement in customer
service is fostered within the organization. This policy applies to all types of customers and prospective customers of BFSPL across all products and other financial products offered by the company.
Complaint/Grievance: Any expression of dissatisfaction, whether oral or written, about the standard of service, and product offered by the Company.
Complainant: A customer or prospective customer who has lodged a complaint or grievance.
Customers can lodge their complaints with a dedicated helpline no or contact point for grievance resolution at dedicated number, in by phone, email, or through the Company’s website or Written Letter
The complaint shall be acknowledged within 3 working days of receipt. The acknowledgment shall include the name, designation, and contact details of the officer dealing with the complaint.
The designated officer shall endeavour to resolve the complaint within 7 working days. If the complaint requires more time, the customer shall be informed of the reasons for the delay and provided with a likely time frame for resolution.
If the customer is not satisfied with the resolution provided at the lower level, the complaint can be escalated to the Principal Nodal Officer.
The Principal Nodal Officer shall acknowledge the receipt of the escalated complaint within 3 working days. Customer shall be kept informed of the progress and the expected time frame for resolution.
If consumer does not receive any response after 30 days of registering the grievance or not satisfied with company response. Consumers can lodge grievance on the online grievance handling portal of RBI on RBI CMS portal - https://cms.rbi.org.in or reach them on the dedicated e-mail id - crpc@rbi.org.in Or send your complaint form (format available on the website under Ombudsman scheme 2021) to the below mentioned address:
Officer- in-Charge Reserve Bank of India, RBI Byculla Office Building,
Opp. Mumbai Central Railway
Station, Byculla, Mumbai – 400 008
The BFSPL shall ensure that all customers are made aware of the grievance redressal mechanism.
Information on how to lodge a complaint and the escalation process shall be prominently displayed at all branches and on the NBFC’s website.
The BFSPL shall regularly review and monitor the effectiveness of the grievance redressal mechanism.
A quarterly report on grievances received, resolved, and pending shall be submitted to the Board of Directors.
Feedback from customers shall be used to improve service quality and address systemic issues.
The grievance redressal mechanism shall comply with all relevant regulatory and legal requirements.
The Company shall cooperate with regulatory authorities in case of any investigation or inspection related to customer complaints.
Grievance Redressal Officer:
Name: Mr. Arul Gupta
Email Id: grivances@bharuwafinancial.com
Principal grievance Redressal Officer