1. Objective
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 Companies – Credit Facilities) Directions, 2025 dated 28th November 2025 and Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025 dated 28th November 2025 (“Directions”), 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 (“GRM”) in compliance with the requirements under the Directions and Digital Personal Data Protection Act, 2023 and Digital Personal Data Protection, Rules 2025 (“Act”). 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.
2. Principles
Customer complaints comprise an important voice of a customer and following will direct standards at the Company for managing customer grievances:
Customers will be treated fairly at all times;
Complaints raised by customers will be dealt with courtesy and resolved in a timely manner;
Customers will 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; and
Employees will work in good faith and without prejudice, with all customers.
3. 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.
4. Grievance Redressal Mechanism
Applies to any customer having issues/ grievances/ complaints/ feedback:
with respect to the product and services offered by the Company, including in respect of the digital lending application, “Zype” (“DLA”) ;
with respect to DLA / digital lending relating complaints; or
with respect to discrepancies and grievances of the customer, with respect to processing of information provided by them.
grievances pertaining to the services rendered through any outsourced agency, it being expressly clarified that the Company’s GRM shall also address and resolve issues relating to such outsourced services.
With respect to any grievances in relation to rights or obligations as may be prescribed under the Act.
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 support@respo.co.in
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 acknowledge receipt of the grievance within 5 (five) business days from the date of receipt and to resolve it within 30 (thirty) calendar 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: Mr. Swapnil Kinalekar, Respo Financial Capital Private Limited
Address: 2nd Floor, Dyna Business Park, Street No. 1, MIDC, Andheri (East), Mumbai 400 093
Email ID: nodal@respo.co.in
Contact: 022-28256467
Step 3:
If any complaint lodged by a borrower against the Company or a lending service provider engaged by the Company is rejected wholly or partly by the Company, or the customer is not satisfied with the reply; 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 https://cms.rbi.org.in. to the Ombudsman in whose jurisdiction the office of the Company complained against, is located.
5. 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 Directions , 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.
6. Policy Review
This Policy shall be reviewed at least annually by the Board and may be amended, modified or revised from time to time in accordance with applicable laws, regulatory requirements and business needs. Any amendment, clarification, circular or direction issued by the RBI, or any other applicable regulatory authority shall automatically apply to this Policy and prevail in case of any inconsistency, until the Policy is accordingly updated.