B S Goel Finance Company Private Limited

POLICY ON GRIEVANCE REDRESSAL MECHANISM

Customer Grievance Redressal Mechanism

The Consumer Grievance Redressal Mechanism (“Policy”) has been formulated as per guidelines issued by Reserve Bank of India and is aimed at reducing instances of customer complaints by ensuring proper and timely resolution of all their requirements as well as a pro-active approach towards providing information related to their loans.

The Policy is based on the following principles:

  1. We will always be driven by the needs of our customers and strive to exceed their expectations every time.
  2. We will strive to provide all relevant information to the customer up-front.
  3. We will strive to treat all customers efficiently, fairly and transparently.
  4. We will resolve all customer complaints in line with the laws of the land and ensure that complaints are dealt with in a courteous manner.
  5. We will widely publicize avenues where the customers can escalate their complaints including to the National Housing Bank.

Mandatory requirements:

  1. BSG Finance will have a customer complaint register in all branches where customers can personally record their complaint along with handing over any letter to the branch. The customer can also give a service request verbally to the branch. The branch depending upon the nature of request will either resolve it locally or seek assistance from central customer support cell lead by Head of Operations. All complaints recorded in the complaint register will be reported monthly to the central customer service cell along with their resolution status.
  2. BSG Finance will have a central customer service helpline which will be available to the customers and branch during normal working hours. The contact number of the helpline will be carried in all application forms as well as be displayed prominently in all the branches. Whenever any call is received by the helpline, a complaint number will be provided to the customer immediately.
  3. BSG Finance will have a centralized customer grievance redressal cell which will keep a record of all customer complaints and track resolution. The

data maintained by this cell will be periodically reviewed by the Committee and/or the Board of Directors to ascertain standards of customer grievance resolutions.

  1. All BSG Finance’s employees will follow the employment guidelines which include a standard code of conduct. Any unbecoming conduct on the part of employees can also be reported in the branches or the helpline.
  2. BSG Finance will prominently display contact details of the National Housing Bank consumer grievance redressal cell, as mentioned hereinafter, in its branches to ensure customers can contact NHB directly in the event they are not satisfied with the service provided by BSG Finance.
  3. In addition to above, Head of Credit & Service shall also have power to deal with the issue relating to services provided to BSG Finance by Direct Selling Agent(s).
  4. BSG Finance will display the name and contact details (Telephone/ Mobile nos. as also email address) of the Grievance Redressal Officer prominently at its branches The designated officer will ensure that genuine grievances of customers are redressed promptly without involving delay.

Resolution of Grievances:

  1. Generally, a time limit of 30 days will be given to the customers for lodging the complaints/grievances with BSG Finance. Time limit of 30 days can be extended if the customer has sufficient cause for not lodging his/her complaint within 30 days period.
  2. It will be the endeavor of the BSG Finance branch staff to resolve all complaints at the branch itself since BSG Finance operates in a decentralized manner through widely dispersed branches.
  3. Any complaints which cannot be resolved at the branches will be referred to a central grievance redressal cell. They will collate all such complaints received at the branches as well as on the helpline and will ensure fair resolutions in a time bound manner.
  4. All customers will be provided with a complaint number for easy reference as and when they have to follow up on their complaint.
  5. BSG Finance will endeavor to resolve all complaints in a reasonable time period and will regularly monitor the pending cases at a senior level.
  6. Any dispute arising out of the decisions of the Company’s functionaries shall be disposed by Head Customer Services

The following Customer Grievance Redressal Mechanism shall be followed for all the complaints received.

Level 1- BSG Finance Branch/Toll Free number/ E- mail /Portals

A customer may visit branch or call at 1600-258-2225 to register their complaint.

The complaint can also be e-mailed at customercare@bsgoelfinance.com

The customer shall be responded to with clarification within a week.The response/ acknowledgement to a customer’s complaint shall contain the name and designation of the official who will deal with the grievance. If the complaint is relayed over phone at Company’s designated telephone helpdesk or customer service number, the customer shall be provided with a complaint reference number and be kept informed of the progress within a reasonable period.

Level 2- Grievance Redressal Officer

In case the customer does not receive any response within the above timeline of a week or is not satisfied with the response given by the branch, after 7 days the customer can further escalate the complaint/grievance to the Corporate Office, at Ghaziabd either by way of a letter addressed to Customer Care Officer/Grievance Redressal Officer of BSG Finance or through email to be sent at:

Grievance Redressal Officer Mrs. Anjali Verma

E mail-pno@bsgoelfinance.com Phone No- 1600-258-2225

Gaur Biz Park, Plot No. 1

Abhay Khand-2, Indirapuram

Ghaziabad, Uttar Pradesh-201014

Level-3 – Reserve Bank of India

In case customer does not receive response from BSG Finance within a period of one month or is not satisfied with the resolution provided by BSG Finance, then he may approach the Complaint Redressal Cell of Reserve Bank of India by lodging his complaint

  1. in Online mode at the link https://cms.rbi.org.in/cms/indexpage.html#eng 
  2. in Offline mode by post, in prescribed format available at link https://www.rbi.org.in/Upload/Publications/PDFs/BOL.pdf to Complaint Redressal Cell,

Department of Regulation & Supervision, Reserve Bank of India,

Centralised Receipt and Processing Centre, 4th Floor, Reserve Bank of India, Sector – 17, Chandigarh – 160017