The Board of Directors of Samraat Finlease Private Limited (“the Company”) has established a structured Grievance Redressal Mechanism to ensure that grievances arising from the actions or decisions of the Company’s functionaries are addressed promptly, fairly, and transparently.
This Grievance Redressal Policy (“Policy”) outlines the framework for handling complaints and grievances raised by customers in relation to the products and services offered by the Company, including through its digital interfaces, websites, mobile applications, and other permitted communication channels.
The Company shall ensure that all grievances are handled efficiently and within defined timelines, in compliance with applicable laws, regulatory requirements, and the Reserve Bank of India’s Fair Practices Code.
The Board shall periodically review the status of grievance redressal, compliance with regulatory requirements, and the effectiveness of the mechanism, and shall be apprised through consolidated reports at prescribed intervals.
For the purpose of this Policy, unless the context otherwise requires:
The Board of Directors of Samraat Finlease Private Limited (“the Company”) has appointed a Grievance Redressal Officer (“GRO”) responsible for overseeing the administration and effective functioning of the Company’s grievance redressal mechanism, including ensuring timely and fair resolution of customer grievances and handling escalations.
The Company has also appointed a Principal Nodal Officer (“PNO”) in accordance with applicable regulatory requirements, who shall be responsible for coordination with the Reserve Bank of India and ensuring compliance with directions issued under the Ombudsman mechanism and related regulatory frameworks.
The Company may designate the same officer to discharge the responsibilities of the Grievance Redressal Officer (“GRO”) and Principal Nodal Officer (“PNO”), subject to such officer fulfilling the responsibilities and obligations prescribed under applicable regulatory requirements.
The PNO shall act as the primary point of contact for coordination with the Reserve Bank of India under the Integrated Ombudsman Scheme and shall ensure timely submission of information, reports, and compliance responses as required.
Customers may register grievances in relation to the Company’s products or services through the following channels:
4.1 Modes of Lodging Complaints
The Company has established a multi-level escalation mechanism for resolution of customer grievances, as set out below:
Level 1: Grievance Redressal Officer (GRO) & Principal Nodal Officer (PNO)
If the customer is not satisfied with the resolution provided by the Customer Grievance Redressal Mechanism (“CGRM”) team, the complaint may be escalated to the GRO and/or PNO.
The GRO/PNO shall review the complaint and provide an appropriate resolution within the defined Turnaround Time (TAT), in coordination with the CGRM team, wherever required. The resolution shall be communicated to the customer, and the complaint shall be closed upon resolution. Customer feedback, where received, shall be duly recorded.
If the customer remains dissatisfied, the complaint may be escalated to the next level.
Contact Details – GRO & PNO
Mr. Subhajit Bhattacharjee
Samraat Finlease Private Limited
I-Thum Tower, B Tower, First Floor, Office No. B-148, Sector 62, Noida – 201309
Email: grievance@samraatfinlease.com
Phone: 9910728731
Level 2: Internal Ombudsman (IO)
(Applicable only to the extent required under applicable RBI directions)
Complaints that are partly or wholly rejected at Level 1 may be escalated to the Internal Ombudsman (“IO”), who shall independently examine such complaints based on available records and may seek additional information, wherever required.
Where the IO disagrees with the resolution, a revised recommendation shall be made. Such recommendations shall ordinarily be implemented; however, in exceptional cases, deviation may be approved by the Managing Director.
The IO, wherever applicable, shall dispose of complaints within 7 days of escalation, and the overall grievance redressal process shall be completed within 30 days from the date of receipt of the complaint.
The final decision shall be communicated to the customer, and the complaint shall be closed upon completion of the resolution process. Customer feedback, where received, shall be recorded.
Where appointment of an Internal Ombudsman is not mandatory for the Company under applicable RBI directions, this mechanism shall apply only upon such appointment being made voluntarily or upon applicability of regulatory requirements.
Contact Details – Internal Ombudsman
Mr. Bivash Das
Samraat Finlease Private Limited
I-Thum Tower, B Tower, First Floor, Office No. B-148, Sector 62, Noida – 201309
Email: io@samraatfinlease.com
Phone: 8240599874
Level 3: RBI Ombudsman
If the complaint is not resolved within 30 days or the customer is not satisfied with the resolution, the customer may approach the Reserve Bank of India (“RBI”) under the Integrated Ombudsman Scheme.
Complaints may be filed through the RBI Complaint Management System (CMS) portal at: https://cms.rbi.org.in
The Company shall, in its final response, provide details of the Ombudsman mechanism and the process for escalation.
All complaints shall be handled in accordance with the RBI Integrated Ombudsman Scheme, as amended from time to time.
The Company shall prominently display the contact details of the GRO, escalation matrix, and RBI Ombudsman mechanism on its website, mobile applications, and at all offices/branches, in compliance with the Fair Practices Code. Such details shall also be displayed in the loan agreements and customer communications, wherever applicable.
The Internal Ombudsman (“IO”) shall examine only those complaints that have been partly or wholly rejected by the Company and shall not handle complaints received directly from customers.
The IO shall not consider complaints relating to fraud-related complaints, except to the extent they involve deficiency in service, commercial decisions without service deficiency, internal administrative or employee matters, complaints relating to matters which are sub judice or pending before any court, tribunal, arbitration, or other judicial/quasi-judicial forum, except to the extent permitted under applicable RBI directions.
The IO shall independently review complaints based on available records and may seek additional information, wherever required.
The IO shall analyse complaint trends and recommend corrective measures for systemic improvements.
The IO shall perform such functions as may be prescribed under applicable RBI directions from time to time.
The Company shall maintain appropriate records of customer complaints, including details of complaints received, nature of grievances, resolution provided, timelines, escalations, and corrective actions undertaken.
Periodic reports relating to customer grievances shall be placed before the Board of Directors or the appropriate committee for review.
The Company shall periodically analyse complaint trends and undertake appropriate corrective measures to improve service quality and prevent recurrence of similar grievances.
This Policy shall be reviewed at least annually by the Board of Directors or the Stakeholders’ Relationship & Customer Service Committee, as applicable.
The Policy may be amended from time to time to incorporate regulatory changes or other necessary modifications, with such amendments subject to approval by the Board or the relevant Committee.
The updated Policy shall be made available on the Company’s website and at all offices/branches, and all employees shall be duly informed of its provisions.
| Nature of Complaint | Category | Illustrative Sub-categories |
|---|---|---|
| Critical Complaints | Fraud by staff | Commission demanded for loan sanctioning by staff; unauthorized charges collected from customers; misuse of customer KYC or personal information |
| Repayment Issues | Collection of repayments without proper acknowledgement or accounting; rude or unprofessional behaviour; coercive recovery practices; change of mutually agreed meeting time/place without customer consent | |
| Mis-selling | Forced selling or product bundling | |
| Fraud by external parties | Customer duped by third parties using the Company’s name; unauthorized charges collected by agents | |
| Loan Processing Issues | Loan application delays or irregular processing | |
| Interest Rate Issues | Non-disclosure or incorrect disclosure of interest rates; charging excess interest; incorrect calculation of interest | |
| Normal Complaints | Digital Transactions | Loan sanctioned but not disbursed; transaction failures; incorrect credit to account; multiple deductions |
| Repayment Records | Non-issuance of loan documents; delay in NOC issuance; incorrect loan amount credited; repayment or settlement discrepancies | |
| Credit Information (CIC) | Incorrect or delayed reporting to credit bureaus; non-updation of closure or last installment | |
| Service Requests | KYC/document update requests; loan application status; payment extensions; refund requests; foreclosure requests; loan cancellation requests | |
| General Queries | New loan enquiries; queries on settlement/foreclosure; staff details; loan status, outstanding, or installment information |