• Introduction

We at MyLoanCare Ventures Private Limited (hereinafter referred to as the 'Company') believe that customer service is our highest priority as that is what drives growth and continuous business. We believe that prompt, efficient, and transparent service is critical to build long lasting customer relationships.

• Objectives

  The company understands that despite striving to achieve high standards of customer service excellence, there can be gaps in existing service delivery. Hence, it is critical to provide an appropriate system and process to customers to share their complaints. We have ensured that all employees of the company are aware and well versed with our customer grievance redressal policy. Our Grievance redressal policy is based on following principles:

  • Customers are always treated fairly.
  • Complaints raised by customers are dealt with courtesy and in a timely manner.
  • Customers provided with multiple touchpoints to submit their complaints.
  • Customers are given a mechanism to escalate their complaints and their rights in the company if they are not satisfied with the resolution of the complaints.
  • Complaints are investigated and resolved in a transparent manner.
  • Complaints are reviewed to improve the existing processes and systems with to ensure that the occurrence of such complaints are minimized.
• Grievance Redressal Framework
  • Definition of complaint: Complaint means a representation in writing or through electronic means containing a grievance alleging deficiency in the service on the part of the bank or its employee.
  • Display of the grievance touchpoints: The company will display the phone number and email on which first level complaints can be registered by the user on its website and social media accounts.
  • How to lodge a complaint/where can a complaint be made: Any customer having a grievance/complaint/feedback with respect to the product and services offered by the Company may write to the Company through any of the following channels.
    • Call at 8448389600
    • Email at gro@myloancare.in
    • Write a letter at the address: MyLoanCare Ventures Pvt. Ltd. Plot No. 131, Sector 44, Gurugram, Haryana 122001
• How a complaint should be made: Customers are requested to necessarily provide necessary details which includes Date of Application submitted, Details of Feedback/ Suggestion/ Complaint and valid Contact Information including phone no. & e-mail ID registered with the Company at the time of filling an application for loan or any other product with the company.
• How will we address a complaint: Each complaint received will be documented in a Register of complaint with a ticket id generated and kept open till successful resolution. Our customer care team or respective sales agent will get in touch with the customer within the provided TAT to understand the reason of complaint and provide resolution or explanation to the customer. In case the complainant is not satisfied, the complaint may be escalated via the escalation matrix. The final resolution will be marked against the ticket and the same will be reviewed by grievance officer for any further action, corrective action and identified process/training related changes.
• When to expect a reply: The Company shall send an acknowledgement of complaints on the same medium on which complaint was received be it email or on phone call or letter within 3 days of receiving the complaint. The company shall endeavor to address/respond to all queries/grievances within reasonable time and keep the customer in informed about the status of their complaints. Each customer query/ complaint being unique in nature, may take up to 10 working days for complete resolution after investigation, provided customer has submitted all information required.
• Escalation Matrix: Customers are requested to first raise their concerns through any of channels mentioned above. In case of delayed or no response from the respective channel within the specified timelines, such complaint may be escalated to the Grievance Redressal Officer of the Company whose details are as given below:

Name and Contact details of the Grievance Redressal Officer of the Company

Name of the Officer	Office Address	Email id
Mr. Ashwani Narnoli	MyLoanCare Ventures Pvt. Ltd. Plot No. 131, Sector 44, Gurugram, Haryana 122001	gro@myloancare.in

The Grievance Redressal Official may be reached on the email id provided above. The Grievance Redressal Official shall endeavor to resolve the grievance within a period of 10 days from the date of receipt of a grievance.

• Escalation to the Reserve Bank of India:If the Customer does not receive any response from the Company within 7 working days or from the Grievance Redressal Officer within 5 working days or is dissatisfied with the response received, he/ she may approach the Reserve Bank of India at the following address:
  The General Manager,
  Department of Non-Banking Supervision,
  Reserve Bank of India,
  Email Id: cms.nbfcomumbai@rbi.org.in
•  Resolution of Grievance: The official communication channels (as specified above) post receiving the complaint is responsible for resolution of complaint/grievance to the customer’s satisfaction. Every possible attempt will be made to offer the customer a suitable and appropriate alternate solution wherever possible. However, if the customer continues to remain dissatisfied with the resolution, he can escalate the issue through the grievance redressal mechanism, specified above.
• Review Mechanism: Complaints occur due to 3 primary reasons which could include attitudinal conduct of employees dealing with customers, lack of knowledge and awareness about products and services and sometimes due to gaps in existing products and systems. The grievance officer will be responsible to review every complaint received, discuss the same with respective departments and training teams to ensure that corrective steps are taken to minimize the occurrence of complaints of a particular nature. Every complaint has to be recorded internally with details of the complaints, response sent to the customer and corrective actions/improvement plan wherever applicable.
• Continuous feedback from the customers: The company will also solicit voluntary feedback from customers on an ongoing basis in a bid to improve its customer service quality.
• Notice: The effective date of this Policy, as stated below, indicates the last time this Policy was revised or materially changed.
• Effective Date: 7th September 2022