Greivance Redressal

Greivance Redressal


The customer grievance redressal mechanism is framed to provide customer services and to comply with the guidelines of fair practices code prescribed by the Reserve Bank of India (“RBI”) under the Master Direction – Reserve Bank of India (Non-Banking Financial Company –Scale Based Regulation) Directions, 2023 (“SBR-MD”), as amended from time to time, and the fair practices code (“FPC”) of Respo Financial Capital Private Limited (“Company”) which inter-alia sets out broad parameters for dealing with customers.

The board of directors (“Board”) of the Company has laid down this grievance redressal mechanism in compliance with the requirements under the SBR-MD (“GRM”), RBI’s Guidelines on Digital Lending dated September 2, 2022 (“DLG”) and Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (“RSP Rules”). This GRM ensures that all disputes arising out of the decisions of lending institution’s functionaries are heard and disposed of at least at the next higher level.


Customer complaints comprise an important voice of a customer and following will direct standards at Respo Financial Capital Pvt. Ltd for managing client grievances:

  •  Customers shall be treated fairly at all times.
  • Complaints raised by customers shall be dealt with courtesy and resolved in a timely manner
  •  Customers shall be informed of avenues to escalate their complaints within the organization, and their rights in cases when their complaints are not resolved in a timely manner or when they are not satisfied with the resolution of their complaints.
  • Employees shall work in good faith and without prejudice, with all customers
Systems for Resolution of Grievances

The Company has invested in the best-in-class customer redressal mechanism (“CRM”) system to ensure timely resolution of the grievances. The system captures the complaints; tracks turn-around time (“TAT”) on the basis of the nature of the query and escalates issues on the basis of predefined TATs and as per the escalation matrix.

Once captured in the CRM system the customer service team is responsible for resolution of complaint/ grievance to the customer’s satisfaction. Every attempt is made to offer the customer suitable and appropriate alternate solutions wherever possible. However, if the customer continues to remain dissatisfied with the resolution, the customer can escalate the issue through the GRM as referred below.

Grievance Redressal Mechanism

Applies to any customer having issues/ grievances/ complaints/ feedback:
1. with respect to the product and services offered by the Company, including in respect of Zype;
2. with respect to FinTech/ digital lending relating complaints; or
3. with respect to discrepancies and grievances of the customer, with respect to processing of information provided by them.

Step 1:
Company’s officer:

Such customer may log in a complaint to the Company through any of the following channels:
• Write an email to us at [email protected]
• You may write a letter at the address – 2nd Floor, Dyna Business Park, Street No. 1, MIDC, Andheri (East), Mumbai 400 093

In case of any such complaints/grievances/ feedback, the customer may contact the Company’s officer at the above mentioned address or email-id. Customers are requested to address all their grievances at the first instance to the customer officer available through the channels above.

The Company will endeavour to resolve the grievance within a period of 7 (seven) days from the date of receipt of a grievance by the Company.

Step 2:
Principal Nodal Officer/ Grievance Redressal Officer:

If the customer/borrower is not satisfied with the response received from the Company, he/she may raise the issue with Grievance Redressal Officer. The name and address and contact details are as furnished below.
Attention: Ms. Zahra Fatime Khan, Respo Financial Capital Private Limited
Address: 2nd Floor, Dyna Business Park, Street No. 1, MIDC, Andheri (East), Mumbai 400 093
Email ID: [email protected]
Contact: 022-28256467

The Company will endeavour to respond to each complaint within 7 (seven) business days from the date of receipt of the complaint.

Step 3:

If any complaint lodged by a borrower against the Company or a lending service provider engaged by the Company is not resolved by the Company within the period stipulated by the RBI (currently 30 days), they can lodge a complaint over the Complaint Management System (CMS) portal under the Reserve Bank-Integrated Ombudsman Scheme, 2021 (“RB-IOS”) at to the Ombudsman in whose jurisdiction the office of the Company complained against, is located.

Internal Review and Monitoring

The internal group of the Company (consisting of the chief executive officer of the Company (CEO), chief risk officer of the Company (CRO) and the chief operational officer of the Company (COO) (“Internal Group”)), will undertake a periodic review (at least on a quarterly basis) with respect to functioning of the grievance redressal mechanism at various levels of management of the Company, including the requirements prescribed with respect to the same under the SBR-MD, monitoring of complaints, TAT, nature of complaints etc. to ensure that process loopholes, if any, are plugged and trends are checked. The Internal Group will submit such reports to the Board for the purposes of undertaking periodic review.

A consolidated report of such reviews will be submitted to the Board at regular intervals (at least on an annual basis) or anytime at the instance of the Board, whichever is earlier.  The Internal Group will submit the consolidated report to the Board for review.