LIONLENDER FINANCE PRIVATE LIMITED
GRIEVANCE REDRESSAL POLICY
For a service organization, excellence in customer service is the most important tool for sustained business growth. In fact, it is only the positive service differentiators that keep the Company ahead of other players in the market. While products can be easily copies, service related processes cannot be so easily copied. For any lending institution, customer complaints are a part and parcel of its operations. More so in case of Banks, financial Institutions, NBFCs as these are the service organizations in which customer service and customer satisfaction are of prime focus. We believe that providing prompt and efficient service is essential not only to attract new customers, but also to retain existing ones. With this thought, our Company has come up with a Grievance Redressal Mechanism with the primary objective to serve the customers. The Company’s policy, on grievance redressal has been formulated taking into account the following:
- Customers are treated fairly at all times,
- Complaints raised by customers are dealt with courtesy and on time,
- All complaints are dealt efficiently and fairly and within the time frame,
- The company’s employees work in good faith and without prejudice to the interests of the customer.
In order to make the Company’s redressal mechanism more meaningful and effective, a proper structure has been implemented to ensure that the redressal sought is fair and within the given frame-work of rules and regulation of the Company. The customer has every right to register his/her complaint if he/she is not satisfied with the services provided by the company or any other agencies associated with the company. Customers can give their complaint in writing or over telephone or through e-mail. In case the complaint is not resolved within the given time or if he/she is not satisfied with the solution provided by the Company, the customer can use other legal avenues with their complaint for grievance redressal.
CUSTOMER FRIENDLY SERVICES TOWARDS CUSTOMERS :
- Customer will be treated with all fairness and respect.
- Dealings with customers will be in a transparent and ethical manner
- Sales Executive with the help of Flip chart will make the customer understand the Company’s philosophy, Loan process, diminishing interest rate with example, Loan credit shield charges etc.
- Processing fee is not handled in cash or through cheque, the same is deducted upfront from the loan disbursed amount.
- Loan application form shall be free of cost
- The customer shall not pay any commission to staff or anyone to avail of the loan from the Company.
- Company will provide welcome letter in a very transparent and understandable manner containing following particulars:
- Processing fee
- Insurance premium
- Credit shield
- Re-Payment Schedule
- All other terms and conditions of loan.
- Company will not indulge in coercive practices during the collections.
- Company will provide receipts for all cash payments.
- In case of any unforeseen exceptional circumstances resulting in default in repayments, the Company will be compassionate towards the customers.
- Customer can approach the Manager in difficult circumstances and based on the genuineness of the case, the Company will endeavor to help such customers.
- Company respects customers’ privacy and will treat customer information as private and confidential.
In the present competitive scenario, excellent customer service is an important tool for sustained business growth. Customer complaints are part of the business life in any corporate entity.
At Lionlender, customer service and satisfaction are our prime focus. We believe that providing prompt and efficient service is essential not only to attract new customers, but also to retain existing ones. Lionlender has come up with efficient complaints redressal mechanism with a view to providing enhanced experience to our customers.
In order to make Lionlender’s redressal mechanism more meaningful and effective, a structured system has been built. This system would ensure that the redressal sought is just and fair and is within the given frame- work of rules and regulation.
Grievance Redressal framework to handle customer complaints / grievances
Grievance Redressal Framework
Customers who wish to provide feedback or send in their complaint can use the following channels available with the company to lodge their complaints:
- He/she can make complaint in writing addressed to the concerned Manager, gist of complaint and complete contact address/phone number of the complainant.
- He/she can mail the complaint on Company’s mail id, i.e., firstname.lastname@example.org.
If the customer is not satisfied with resolution provided by the office, the customer may provide feedback or send in their complaint using the following channels between 9:00 am and 5.00 pm, from Monday to Friday (except on national holidays).
Email us at email@example.com
Call us at 7090307307
Write to us at the below mentioned address:
Lionlender Finance Private Limited
C/o Mrs. Meena Kumari Khungar, Sai Residency Appt.,
Lakadganj Opp. Police Station,
Nagpur MH 440008
The complaint will be responded within one month. In case the customer still not satisfied with the response or has not received a response from the company within one month, he/she may contact The Managing Director of company on the same mail id as given above.
We assure a response to letters / emails received through this channel. If the complaint/dispute is not redressed within a period of one month, the customer may appeal to Officer-in-Charge of the Regional Office of Department of Non Banking Supervision of RBI under whose jurisdiction the Registered Office of the Lionlender falls.
MANDATORY DISPLAY REQUIREMENTS :
Lionlender has the following in office:
- Appropriate arrangement for receiving complaints and suggestions.
- Display of the name, address and contact number of the Complaint Redressal Officer. The process of the complaints redressal unit will ensure closure of all complaints to the customers’ satisfaction.
They will ensure that the complaint is escalated to the appropriate levels in case it is not possible to resolve at his/her level. Whilst the ultimate endeavor is to ensure we reach a situation where our customers don’t have to complain to senior management to get an effective redressal, we have put in a robust mechanism to handle these complaints, review them from a point of view of understanding reasons for the complaint and for the escalation and working on prevention of recurrence thereof.
To register complaints, the customers may use any of the channels mentioned above. If the complaint has been received in writing, Lionlender will endeavor to send an acknowledgement / response. Once the matter is examined, Lionlender endeavours to either send a final response to the customer or an intimation seeking more time within one month upon receipt of complaint.
Complaints that are received at our end will be seen in the right perspective and would be analyzed from all possible angles.
The communication of Lionlender stand on any issue will be provided to the customers. Complaints that require some time for examination of issues involved will be acknowledged promptly.
The aforesaid policy will be reviewed periodically /revised as and when there are any new changes incorporated by Lionlender in handling complaints / grievances of the customer which includes introduction of new grievance channels, if any.
REVIEW OF THE FUNCTIONING OF GRIEVANCE REDRESSAL MECHANISM :
- The concerned manager should report to Business Head at Head Office, the action taken on the complaint/grievance once in a calendar quarter.
- All the closed and pending grievances will be consolidated in an appropriate summary form and submitted to the Board once in a Quarter, by the Business Head for compliance.
- If there is nothing to report, NIL report need be submitted to the Board. At a minimum, the total no. of complaints, received, disposed and pending, with reasons, shall be placed before the Board for information/instructions, if any, once in a calendar quarter.
- The internal auditors have to report non-compliance, if any, by the branches in their regular audit reports.