Grievance Redressal
Fair and expeditious resolution of customer complaints as per RBI guidelines for NBFC-ND-SI.
RBI Guidelines
As per extant guidelines Reserve Bank of India (RBI), all NBFCs should ensure that a suitable mechanism exists for receiving and addressing complaints from its customers with specific emphasis on resolving such complaints fairly and expeditiously regardless of the source of the complaints.
This Grievance Redressal Policy has been made as per RBI/DNBR/2016-17/45 Master Direction DNBR.PD.008/03.10.119/2016-17 dated September 1, 2016 as applicable to NBFC-ND-SI issued by Reserve Bank of India (RBI).
This Policy applies to all products offered by the Company and to all Customer interactions.
Brief Description of the Policy
The policy framework lays down requirements related to grievance assessment, registration of complaints, escalation of complaints, redressal, resolution of complaints and periodic review of records.
Objective of the Code
The purpose of the policy is to ensure that:
- All customers are always treated fairly and without bias
- All issues raised by customers are dealt with promptly and on time
- Customers are made completely aware of their rights so that they can opt for alternative remedies if they are not fully satisfied
Principles of Grievance Redressal
- Customers will be provided with information on how to raise their grievances over phone, on website or through any other means
- The process to raise a complaint would involve only relevant investigative questions without any kind of hassle
- Resolutions would follow the simple principle of ensuring an effective resolution consistent with RBI guidelines
- The Company is committed to remain quick and consistent at all times
Responsibilities of Board
- To lay down the appropriate grievance redressal mechanism within the organization
- Periodically review the functioning of the grievance redressal mechanism
- Review of consolidated report of such periodic reviews
Registration of Complaints
Customers can register complaints through multiple channels:
- Website: https://friendloan.in/
- E-mail: grievance@friendloan.in
- In Person: At Registered/Corporate/Administrative Offices
- Grievance Redressal Officer: Directly over phone and/or email
Time Frame for Response
| Case type | TAT |
|---|---|
| Normal cases | 10 working days |
| Fraud cases, Legal cases | 15 working days |
| EMI-related cases | 20 working days |
| Cases involving 3rd party | 30 working days |
Resolution and Escalation of Complaints
Level 1 — Grievance Redressal Officer
- Name: Rajesh P
- Phone: +91 70102 49180
- WhatsApp: +91 70102 49180
- Address: #Bascon Futura SV IT Park, 12th Floor, New No 10/2, Old No 56L, Venkeanarayana Road, T.Nagar, Chennai – 600017
- Email: grievance@friendloan.in
- Hours: Between 10:00 am and 06:00 pm, Monday to Saturday except holidays
Level 2 — Director
- Escalation to the Director at: vijay@friendloan.in
- Response within: 15 working days
Level 3 — Reserve Bank of India
If not resolved within one working month, appeal to:
General Manager, Reserve Bank of India, Department of Non Banking Supervision, Fort Glacis, Rajaji Salai, Chennai – 600 001 - Tel: 044 2539 3406 - Fax: 044-2539 3797 - Email: dnbschennai@rbi.org.in
Added in this revision. The sections below bring this policy in line with current RBI expectations. Values shown in brackets are awaiting confirmation from the compliance office and must be filled in before go-live.
Principal Nodal Officer
In addition to the Grievance Redressal Officer named above, the Company has designated a Principal Nodal Officer for the purposes of the Reserve Bank – Integrated Ombudsman Scheme, 2021.
| Name | Pradeep |
| Designation | Director |
| Telephone | +91 70102 49180 |
| nodalofficer@friendloan.in | |
| Address | Floor 12, Bascon Futura SV IT Park, No. 56-L, Venkatanarayana Road, T. Nagar, Chennai 600017 |
Reserve Bank – Integrated Ombudsman Scheme, 2021
If your complaint is not resolved within 30 days of being lodged, or if you are not satisfied with the resolution offered, you may escalate it to the Reserve Bank of India under the Integrated Ombudsman Scheme, 2021:
- Online: cms.rbi.org.in
- E-mail: crpc@rbi.org.in
- Toll-free: 14448
- By post: Centralised Receipt and Processing Centre, Reserve Bank of India, 4th Floor, Sector 17, Chandigarh 160017
A salient-features document of the Scheme, in English, Hindi and Tamil, is displayed at our offices and is available on request.
Complaints about digital lending
Complaints relating to any Lending Service Provider or Digital Lending App acting on behalf of Sampathi Credits are handled under this same policy and within the same turnaround times. The full list of our lending service providers and digital lending apps is published in our Digital Lending Disclosures.
Suspected unauthorised lending apps may be reported to the RBI at sachet.rbi.org.in.