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Grievance Redressal Mechanism

EpiMoney Private Limited is a Non-Deposit taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI) and is engaged in the business of providing financial assistance. As per extant guidelines of RBI, all NBFCs should ensure that a suitable mechanism exists for receiving and addressing complaints from its customers / constituents with specific emphasis on resolving such complaints fairly and expeditiously regardless of source of the complaints.

As per extant guidelines of RBI, all NBFCs should ensure that a suitable mechanism exists for receiving and addressing complaints from its customers / constituents with specific emphasis on resolving such complaints fairly and expeditiously regardless of source of the complaints.

EpiMoney Private Limited (“the Company”) is inter alia engaged in the business of providing financial assistance to various business entities including small and medium enterprises in the form of facilitating access to various loan products from time to time. In order to address the customer grievances while servicing the customers, the Company formulates the suitable mechanism to address such requirements. 

Objective:

The Grievance Redressal Mechanism is framed to provide best customer services and to comply with the Guidelines of Fair Practices Code prescribed by the Reserve Bank of India and the Fair Practices Code of the Company which inter-alia set out broad parameters for dealing with customers.

Brief description of the Policy:

The policy framework lays down requirements related to aspects of principal of grievances redressal, registration of complaints, escalation of complaints, resolution of complaints, periodic review of records.

Regulatory Requirements:

The Reserve Bank vide its Master Direction dated September 01, 2016 as amended from time to time, issued guidelines on Fair Practices Code (FPC) to be adopted by all NBFCs while doing lending business and to formulate the Customer Grievance Redressal Policy as duly approved by the Board and have to display details relating to Grievance Redressal Officer at their branches / places where business is transacted.

Risk type:

The policy intends to manage/mitigate Legal, Compliance and Operational Risk.

Grievance Assessment:

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

Policy Review:

The Board shall review grievance redressal policy on annual basis or at earlier intervals, in case of any regulatory changes necessitating such interim reviews.

ANNEXURE A

GRIEVANCE REDRESSAL POLICY

  • Objective :
    • The objective of the Grievance Redressal policy of the Company is to ensure the fair and equal treatment to all its customers without any bias -irrespective of caste, creed, race, gender, special abilities – on all occasions 
    • The resolution of grievances is within defined Turn Around Time (TAT) 
    • The resolution process is accelerated with proactive interventions by the Grievance Redressal Committee to cause nil distress to the customers
  • Principles of grievance Redressal:
    • Our customers will be provided with information on how to raise their grievances or concerns at all offices and on website.
    • The process to raise a complaint / escalation / grievance would involve only relevant investigative questions without any kind of hassle to the customer.
    • Resolutions would follow the simple principle of ensuring an efficient resolution. The responses would be in consistent with the RBI guidelines at all times as applicable to reduce customer grievances. 
    • We shall always remain quick and consistent in providing necessary information or process requested by the customer.
  • Registration of complaints:

The Company enables its customer’s to register complaints through multiple channels. The various channels available to customers are as follows: –

    • E-mail: Customers can send an email for redressal of issues. Respective Contact Numbers for Business Lines and their email ids are available on the website.
    • Registered / Corporate / Administrative Offices: Customers can speak to the officials-in-charge at the Company’s offices for resolution of their issues or register their grievances at the Office Complaints Register available at reception.
    • Grievance Redressal Unit: Customers can reach out to a dedicated Number of Grievance Redressal Unit over phone and email which is updated on our website under section => Grievance Redressal.
    • A Report containing number of complaints received, resolved, unattended during Financial Year, timeline for resolution and summary of such grievance is provided to the Board for their review of GR mechanism in order to streamline the process. well for reduction of complaints.
  • Escalation of complaints:

Level 1:

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

Name of the Grievance Redressal Officer: Mr. Sumit Basu

Email id: compliance@epimoney.com, sumit.basu@flexiloans.com

Address: New Era Mills Compound, Mogul Lane, Matunga (West), Mumbai -400016

Tel: 8451892575

Level 2:

If the complaint is not resolved within 15 days, the customer shall complaint to the Business Head of the Company at his following email id: anil.jaggia@epimoney.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:

Deputy General Manager, 

Department of Non-Banking Supervision, 

Reserve Bank of India, 

Post Box No. 40, Chennai Post Office, Chennai

  • Policy Revision:

This policy is subject to revision based on the extant RBI guideline from time to time.


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