Grievance Redressal Policy

Overview

The company follows a customer centric approach in all its operations and processes, and believes that in addition to the increasing outreach, it is essential to retain the existing customer base for sustainable growth of the business. To ensure that the clients are aware of the available services, and to keep a check on the effectiveness of complaint resolving process, a standard policy has been framed and followed at Annapurna Finance. This Grievance Redressal Policy aims to define the scope, process, and levels of escalation to raise the unresolved complaints. This policy guides us to deal with such complaints and queries in efficient manner.

Objective and Scope

The Grievance Redressal Policy aims to deliver proper service to the clients and prompt redressal of the customer’s grievances. Following are the major objectives of this grievance redressal mechanism:

To correct errors and handle complaints speedily and efficiently
To inform clients about the existence and purpose of this mechanism and how to access them
To protect the clients against fraud, deception or unethical practices
To consistently assess the impact of services in order to serve clients better
To give all the necessary information to clients about all products and services of the company
To keep a check on complete adherence to the Company’s policy and ethics by the employees, and stop any malpractices or breach of the same

Definition of Grievance Redressal Mechanism and categories of grievance calls

Definition:

Grievance redressal mechanism is an instrument or process through which resolution to a grievance is provided to our clients. It is a process in which all the complaints and grievance are received and escalated to the concerned person from specific department to resolve it. Strategic decisions are also made by referring to client grievance and feedbacks. Clients can approach to the organization with their grievance and complaints and they can get their complaints resolved within the stipulated time frame by following our grievance mechanism.

Classification of grievance call:

Grievance calls in Annapurna Finance are broadly categorized into 4 major categories i.e.-Complaints, Query, Service Request and Others. The grievance executive who is handling the customer complaints are given training on how to categorize the calls into different categories and also given a manual through which he/she can take the reference for putting up the calls in different category.

Ownership of the Policy:

Audit Committee reviews the detailed grievance redressal report quarterly and monitors whole grievance process of the organization. Regular suggestion and feedback is given by audit committee to improve the grievance redressal process. Audit committee ensures that all the departments of organization follows the policy and do closure of all grievances related to their department within the given TAT.

When Can the Client use GRM

Client can approach to us through our toll-free number which works in all the working days i.e. Monday to Saturday from 9:30 AM to 6:30 PM. S/he can approach to FCO or even to BM on working days and also can drop grievance or complaint letter in complain box affixed at branch office.

How the client will approach

Toll-free number: Client should dial our toll-free number i.e. 18008437200 and register his/her complaints to the executive who will attend the call.
Branch Manager/ FCO: Client can also make complaints or any grievance directly to BM or FCO during working hours of the branch office. Complaints at branch level needs to be recorded by the branch manager in grievance register as per prescribed format.
Complaint Box: If client want to submit his/her written complaints then s/he can drop a letter to the complaint box which is attached at branch. Complaint letter is read by the concern area manager of the branch as the key of the complaint box belongs to him/her.
GRO/ General Manager-DNBS-RBI: If the case is not resolved within 15 days after the complaint registered by clients then s/he can approach directly to GRO of the organization, contact number of the GRO is 8280336056. If the complaint/ dispute are not redressed within a period of one month then the Customer may appeal to the General Manager of Department of Non‐Banking Supervision, Reserve Bank of India. Contact details of official are: Pandit Jawaharlal Nehru Marg, Post Bag No-16Bhubaneswar-751001,Tel:-0674-2393993.

How Grievance Redressed at Annapurna Finance

Grievance redressal register is maintained at HO in which all the grievances call and subsequent action taken is noted done. Remedial action against all the grievances cases are mentioned and status of the complaints/grievance i.e whether the case is closed or opened are also mentioned.

Grievance register is maintained at branch and all the complaints or feedbacks are updated in that register by the branch manager. BM takes necessary steps to resolve the grievance of the clients if it can’t be resolved by him then he/she escalate it to his/her senior. All the complaints registered at branch are copied and sent to GRO on monthly basis.

Cases which are closed immediately after quick response from our side and leaving the client satisfied are marked as closed status. The cases which are not closed are flagged up to concern department and if it’s not closed after that then it is escalated to senior management by describing the nature of complaints. Senior management after seeing the case suggest appropriate action adhering fair practice code norm by RBI.

Grievance Redressal Matrix

All the grievance registered at Annapurna Finance is resolved within the stipulated time frame mentioned in the below matrix:

Level	Medium/Channel	Turnaround Time
Level-1	Branch Manager, Complaint Box and Toll-Free no.	0-15 days
Level-2	Grievance redressal officer	15-30 days
Level-3	General Manager, Department of Non- Banking Supervision, RBI

Grievance Redressal Contact Details:

Client Grievance Redressal Officer of Annapurna Finance Private Limited
Name – Mr. Suraj Bali Painkra (Grievance Officer, Annapurna Finance Pvt Ltd.)
Mobile No- 8280336056
Mail id- suraj@ampl.net.in

Officer-in-Charge, DNBS, RBI
General Manager, DNBS, Reserve Bank of India, Bhubaneswar)
Phone No- 0674-2394067

Officer in Charge, MFIN India
Habib Shaik
Designation- AVP (East & North East)
Contact No: +91 9831088660
Email: habibshaik@mfinindia.org
Toll-Free Client Grievance Redressal Helpline 18002700317

Grievance Redressal Procedure/ Mechanism

Graphical representation of the grievance redressal mechanism is shown below: