Preamble

Svasti has put in place a robust grievance redressal mechanism for customers. One of the key tenets of quality customer service is providing opportunities for customers to raise grievances and seek a satisfactory resolution. Additionally, the regulations (and self-regulations) for the microfinance institutions require institutions to have this mechanism in place.

The industry code of conduct of MFIN and Sa-dhan and the Reserve Bank of India (RBI) vide its direction for -Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 has directed all NBFCs to have a Grievance Redressal System in place.

This Policy is updated to align with the fourth edition of Code of Conduct released in October 2022.

The Objectives

1. To provide Svasti’s customers convenient and effective channels to raise complaints with respect to process, services or any queries.
2. To take timely and appropriate action on customer grievances.
3. To maintain a database of customer complaints and use the data to make decisions on products, services and improving overall quality of customer service
4. To provide timely reports to SROs about the complaints and resolution provided