grievance redressal

CUSTOMER GRIEVANCE REDRESSAL POLICY

1. Overview

Whizdm Finance Private Limited (“Company”) is committed to the highest level of experience for its customers – from lead generation to application processing, disbursement, collections, and closure. Despite our best efforts, customers may encounter issues. Thus, we have in place a customer grievance process that addresses the issues in a seamless and timely manner.

The aim of this Policy is to render a framework to the customers of the Company for dealing with the Complaints of the customers in a fair and transparent manner and educate the customers about the processes to be followed in order to lodge a Complaint with the Company and/or the RBI.

In line with the above, the Company has laid down this Grievance Redressal Mechanism (GRM) with the following key pointers:

• Resolution to the complaints/queries or disputes in an established timeline
• Customers are treated fairly and impartially at all times
• Ensuring all customers are heard via different redressal channels at their convenience
• Multiple levels of escalations with turnaround times for each level mentioned upfront
• Grievance Redressal Policy communicated to the customer in the loan agreement
• Strict measures for ensuring SLA at each level

2. Grievance Redressal Officer and Principal Nodal Officer

• The Board shall nominate an employee/officer of the Company as the Grievance Redressal Officer (‘GRO’) who shall be entrusted with the duty of addressing and resolving the grievances raised by the customers, including complaints and issues relating to digital lending.
• The GRO will be available during office hours to receive the grievances of all customers. In the event the GRO is not available, the immediate senior officer in the Company shall attend to the customer.
• The Board shall also appoint a Principal Nodal Officer (PNO) at their head office who shall not be a rank less than a General Manager or an officer of an equivalent rank and shall be responsible for representing the Company and furnishing information on behalf of the Company in respect of complaints filed against the company.
• The GRO and the PNO can be the same person.

3. Process of Grievance Redressal

• Customers who have any complaint can follow the following process for their redressal-
• customers can report grievances to Whizdm Finance via email, phone, or post/in-person.
• In the absence of satisfactory resolution within specified time frames, customers can escalate the grievance to the next level.
• Multiple levels of escalation along with expected resolution times have been provided below along with their coordinates.
• In the absence of a resolution from the company within 30 working days, customers can escalate the issue to the regional office of RBI (coordinates given in level 2 escalation) as well as the RBI Ombudsman.

A. Primary Level

The customers who intend to file a Complaint may file their Complaint with the Company by using any of the following channels between 10:00 am to 05:00 pm on any working day of the Company and furnishing complete details in relation to such Complaint:

Via Email: Reach out to us at gr@whizdmfinance.com
Via Post/courier :
To Complaints
Whizdm Finance Private Limited
Survey No. 17, 1A, The Address Building, Outer Ring Rd, Kadubeesanahalli, Bellandur, Bengaluru, Karnataka 560087

Phone No. 8095000789

Customers can also walk in to the office of Whizdm Finance Private Limited for grievance redressal, the address of which is given above.
Depending on the query/dispute/grievance, a reply/resolution will be shared with the customer within 15 working days.

B. Secondary Level

The customer has the option to escalate the Complaint by complying with the following escalation matrix:

Escalation Level 1:
[Complaint is not resolved within 21working days from the date of filing of the Complaint or the Customer is not satisfied with the response or the resolution provided to the customer at the Primary Level]

Via Email: Reach out to us at Head.GR@whizdmfinance.com
Via Post/courier :
To Grievance Redressal Officer (Mr. Saurav Goyal)
Whizdm Finance Private Limited
Survey No. 17, 1A, The Address Building, Outer Ring Rd, Kadubeesanahalli, Bellandur, Bengaluru, Karnataka 560087

Customers can also walk into the office of Whizdm Finance Private Limited for grievance redressal, the address of which is given above.
Depending on the query/dispute/grievance, a reply/resolution will be shared with the customer within 5 working days.

Escalation Level 2:
[Complaint is not resolved within 30 working days from the date of filing of the Complaint or the Customer is not satisfied with the response or the resolution provided to the customer]

Reserve Bank of India (RBI) Contact Details
The General Manager
DNBS- Reserve Bank of India,
10/3/8, Nrupathunga Road, Bangalore- 5600001, India

Alternatively, if any complaint lodged by the customer against the Company or the agents engaged by the Company is not resolved by the Company within one month, he/she can lodge a complaint with the RBI Ombudsman to (https://cms.rbi.org.in) in the event of online registration of complaint. Further, the complaints in electronic mode and physical form including postal and hand-delivered complaints shall be addressed and sent to the place where the Centralised Receipt and Processing Centre of the Reserve Bank is established, for scrutiny and initial processing. However, in any case, the responsibility of grievance redressal shall continue to remain with the Company.

4. Miscellaneous

• In the case of digital lending, as defined under the RBI Guidelines on Digital Lending, the Company shall ensure that the Lending Service Providers (‘LSPs’) engaged by them shall have a suitable Grievance Redressal Officer to deal with FinTech/ digital lending related complaints/ issues raised by the customers. In case of digital lending by the Company, the GRO of the Company shall also handle all such issues related to digital lending
• The provisions of this Policy shall also extend to deal with the issue relating to services provided by the outsourced agency, in case the Company has outsourced any of its functions.
• The GRM, in no way, shall be compromised on account of outsourcing.
• The Company follows a strict no-discrimination policy and does not does not discriminate against persons with any disability. In furtherance of the ethos and values of the Company, the Company shall ensure the redressal of grievances of persons with disabilities under the GRM.
• Notwithstanding anything contained in this Policy, the Company shall ensure compliance with any additional requirements as may be prescribed under any laws/regulations either existing or arising out of any amendment to such laws/regulations or otherwise and applicable to the Company from time to time.
• Customers are informed of the mechanism to escalate their complaints within the organization, and their rights if they are not satisfied with the resolution of their complaints by the Company. The officials of the Company strive towards working in good faith and without prejudice towards the interests of the customers.

5. Display of details of redressal mechanism

• The Company shall prominently display, on its website/app, details in respect of the Grievance Redressal Mechanism, i.e., name and contact details, telephone no., email address of the Customer Service Department, and the GRO.
• Contact details of the Company’s GRO shall be prominently displayed on the Company’s website, as well as on the websites of the LSPs; on the Digital Lending Application (‘DLA’), and also in the Key Fact Statement provided to the Customer. Further, the facility of lodging complaints shall also be made available on the DLA and on the website as stated above.
• In addition to the display on the website, the above-mentioned information shall also be displayed in the offices of the Company where business is transacted. In this case, the Company may display the information in English as well as a vernacular/regional language.
• The salient features of the RBI Ombudsman Scheme along with a copy of the Scheme and the contact details of the Principal Nodal Officer shall also be displayed in the manner provided by RBI in this regard.

6. Review

• This Policy is subject to review by the board of directors of the Company as and when deemed necessary. The board of directors of the Company shall annually review the functioning of the GRM.
• This Policy shall be subject to the applicable laws including but not limited to the rules, regulations, guidelines, directives, and instructions issued by the RBI, from time to time, and shall supersede the earlier version of the Policy. Any change/amendment in applicable laws with regard to maintenance of an appropriate GRM shall be deemed to be incorporated in this Policy by reference and this Policy shall be deemed to have been amended and revised accordingly.

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