“Company” refers to Kalpavitta Finance Private Limited.

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1. Introduction
    

   Resolving customer queries & grievances in a timely, consistent and solution-driven manner is important for every business. It becomes critical in the financial services industry, especially lending, where the customer has specific usages linked to the receipt of funds and their credit history linked to the repayments. The Company grievance redressal policy is guided by the following principles:
    

   1. Promptness - The grievances should be resolved in a timely manner and the estimated time to resolve should be communicated to the customer.

   2. Multi-Channel - All channels which a considerable fraction of the target market uses to register their queries should be provided. This includes online, offline and social media, amongst others.

   3. Customer Education - Active effort should be taken to inform customer of potentially confusing terms, fees & charges, rules and process steps. Customers should also be made aware of their rights and the escalation process when their grievances are not resolved effectively.

   4. Solution Driven - The company, its staff and its management should help resolve the queries in the customer’s favor as much as possible. Waivers and overrides can be taken from the management on case by case basis and if needed, appropriate policies should be updated.

   5. Fair Treatment - The company should treat the customers in a fair, professional, ethical and dignified manner.

   The plan will be implemented once the operations of the Company commence. Once operational, the grievance redressal policy of the company will at all times be compliant with the relevant RBI directions and guidelines.
    

2. Customer Education

   As with health conditions, in grievance redressal, prevention is better than cure. An informed customer is less likely to face grievances. The company places utmost importance on keeping the customer well-informed. Following are the main pillars of customer education at the Company:

   1. Profiling Rules

      1. The customer should be made aware of the eligibility rules so that customers who are not eligible can utilize their time on more feasible alternatives.

      2. Customers who are rejected along the process should be made aware of reason for rejection and, if possible, what they can do to fix it and re-apply.

      3. Timelines for approval should be communicated with the customer.

   2. Loan Terms

      1. Loan terms must be made clear to customer in easy to understand language.

      2. Pricing terms should be transparently communicated at every step in easy to understand language.

      3. Salient loan terms must be summarized into a separate document apart from loan agreement. Any frequently asked questions by customers should be incorporated in the salient loan terms on a continuing basis. Interest rates, processing fees, late fees and other charges must be exhaustively covered in this summary of terms.

      4. Wherever financial terms are involved (e.g. EMI, NACH etc), explain their meaning as well as provide easy to understand equivalents.

   3. Legal Terms

      1. Legal terms should be summarized and communicated to every customer in easy to understand language.

      2. Significance of auto-debit / cheque bounce should be communicated to the customer.

      3. FAQs on all channels should have a separate section on legal terms.

   4. Repayment Rules

      1. Rules related to auto-debit, cheque presentation, online, cash transfer must be communicated to customer.

      2. Prior electronic communication should be sent before presenting auto-debit instruction / cheque.

      3. FAQs on all channels should have a separate section on repayment rules.

   5. Data Protection & Privacy

      1. Privacy policy should handle usage of sensitive customer data and the same must be shown to the customer.

      2. Whenever data can be shared with external parties, same must be made clear to the customer.
          

3. Redressal Mechanism
    

   The core redressal mechanism relies on accepting customer grievances via multiple channels, resolving them with assistance of custom-built technology and escalating if not resolved on time. The prioritization of requests is based on a combination of first-serve and criticality of the resolution.

   Working hours for manual responses are from 9 AM to 7 PM from Monday-Saturday. Customers are identified via their registered mobile number / email ID. If they are calling / Emailing from alternate IDs, their identity is verified via a authentication question.

   1. Channels

      1. Walk-in / At residence - Customers can visit our office during working hours on weekdays. Customers can also get their queries resolved when company executive visits their residence for verification / payment reminders. While operations presence will be in all cities where loans are disbursed, a dedicated office may take time to be set up. For cities where a dedicated office is not yet present, customers can request a residence visit, which will be serviced by the operating staff who will help resolve queries / grievances in person.

      2. Calls - Customers can call on the helpline number 080 47185193 during working hours. Different IVR (Interactive Voice Response) options would lead to specific teams depending on customer’s requirement - knowing the process / knowing eligibility / requesting for loan status / questions related to repayments etc. Dedicated staff will help resolve any queries.

      3. EMail - Customers can reach the Company at support@kalpavittafin.in. Apart from response to the query, additional material like documents / policy references etc can be shared on Email. If Email correspondence doesn’t resolve the issue in 3 business days, a call back is arranged from a relevant team to resolve the query / grievance.

      4. SMS - Customers can also send queries via SMS based on specific codes for specific request categories. A call back is arranged from a relevant team to resolve the query / grievance.

      5. Mobile App - A dedicated custom-built mobile app will allow customers to know status of their loans, repayments etc as well as to understand the process steps, actionables from their side, and FAQs. Customers can also contact the Company via inbuilt calling facility or by raising a service request that is allocated to specific team based on request category.

      6. Social Media / App Reviews - Company will maintain active presence on social media platforms like Facebook, Twitter etc. Customers can raise queries or grievances via posts, Tweets, direct messages, mentions, social media and mobile app reviews etc. If social media queries are not resolved in 3 business days, a call back is arranged from a relevant team to resolve the query / grievance.
          

   2. Timelines & Escalation Process

      1. Grievance Categories

         Customer queries / grievances are categorized as follows:

         1. Critical - Critical queries are those related to disbursal of the loan amount, cheque / auto-debit presentation, credit bureau reporting, residence visits, cash collections, issues related to misbehaviour by any Company staff / authorized representatives, legal matters. Critical queries / grievance need to be resolved in 3 business days. If more time is required, customer must be notified along with reason for why more time is required. Regular updates must be provided to customer as the issue is being resolved.

         2. Important - All remaining customer grievances / queries are important and have to be resolved in 5 business days. If not resolved in that time, it should be escalated to dedicated senior points of contact and customer should be notified the point of contact details. Post escalation, the issue must be resolved in additional 3 business days. If more time is required, customer must be notified along with reason for why more time is required. Regular updates must be provided to customer as the issue is being resolved.
             

   3. Contact Points
       

      E-mail: support@kalpavittafin.in
      Phone number: 080 47185193
      
      For any queries that are not resolved in 7 working days, you can approach the Grievance Redressal Officer:
      E-mail: grievance@kalpavittafin.in
       

   4. If the complaint / dispute is not redressed within a period of 1 (one) month from the date of receipt of the complaint by the Grievance Redressal Officer, the customer may file an appeal to the Officer-in-Charge of the Regional Office of DNBS of RBI, whose contact details are set out below:
      Name of Officer: General Manager, Reserve Bank of India, Department of Non-Banking Supervision, Nrupatunga Road, Bangalore – 560 001, Karnataka
      Contact Number: 080-2218 0100/ 1160
      E-mail: dnbsbangalore@rbi.org.in