GRIEVANCE REDRESSAL MECHANISM SAYYAM INVESTMENTS PRIVATE LIMITED
1. Introduction
Sayyam Investments Private Limited (“the Company” or “Sayyam”) aims to impart good customer services and enhance the level of customer satisfaction. The Company believes that customer satisfaction is the key to business growth as well as ensuring a long-lasting relationship with the customer.
This Grievance Redressal Mechanism aims at ensuring prompt redressal of customer complaints and grievances. It also deals with the issues relating to services provided by the outsourced agency/agencies.
Sayyam’s Grievance Redressal Mechanism is formulated in line with the Reserve Bank of India’s guidelines on Fair Practices Code. The mechanism outlines the framework for addressing customer grievances.
The Grievance Redressal Mechanism follows the under-noted principles:
- Customers shall be treated fairly at all times.
- All complaints, requests, queries received from customers are responded with courtesy and resolved in a timely manner.
- Customers shall be informed of avenues to escalate their complaints/grievances within the organization and their rights to alternative remedy, if they are not fully satisfied with the response of the company to their complaints.
- All complaints to be dealt efficiently, expeditiously and fairly as otherwise they can damage our reputation and business.
- Our employees would work in good faith and without prejudice to the interest of the customers.
- To comply with regulatory requirement guidelines as required for this function.
2. Grounds for filing a complaint
Customers can raise/register complaint(s) containing the nature of grievance/deficiency for the NBFC and its outsourced agencies, inter alia, with regard to:
- Non-observance of directions issued by RBI to NBFCs,
- Non-adherence to any of the provisions of RBI guidelines on Fair Practices Code, issued from time to time.
- Concerns raised over procedure of the NBFC.
Complaint is not an enquiry, feedback or a request for data modification or inquiry about loan products/schemes, interest rates or other requests/feedbacks which can be promptly clarified by Customer care.
Anonymous/incomplete complaints will not be addressed in terms of this Grievance Redressal Mechanism.
3. How to raise complaints?
3.1 Channels of raising a complaint
The customer has a right to lodge/register his complaint if he/she is not satisfied with the services provided by the company or has a genuine ground for such complaint as indicated in para 2 above.
There are following four ways to lodge a complaint:
| Sl. No. | Method of lodging a complaint | Information of Contact |
|---|---|---|
| 1. | compliant@sayyaminvestments.in | |
| 2. | Digital Platform – app of Sayyam Investments Private Limited | Raise a concern through application |
| 3. | Postal (through writing letter) |
Customer Care Department Sayyam Investments Private Limited 1 and 2 Floor Khykha Court II #8, 2nd Stage 2nd Block, Hosur Main Road, Koramangala, Bangalore South 560034 KA IN |
| 4. | Complaint in Person |
1 and 2 Floor Khykha Court II #8, 2nd Stage 2nd Block, Hosur Main Road, Koramangala, Bangalore South 560034 KA IN |
| 5. | Call | 022489-30118 (Between 09:00 A.M. to 09:00 P.M. every day) |
Once a complaint (as prescribed in point # 3.1) is lodged using the above channels, the customer may also make follow-up calls at the numbers given below:
| Sl. No. | Mode of talking to us directly | Information of Contact |
|---|---|---|
| 1. | Call us | 022489-30118 (Between 09:00 A.M. to 09:00 P.M. every day) |
If the customer is not provided a resolution within a period of 15 days, he may contact the Grievance Redressal Officer as mentioned below:
Name: Arjun Kumar
Address: Sayyam Investments Private Limited
1 and 2 Floor Khykha Court II #8, 2nd Stage 2nd Block,
Hosur Main Road, Koramangala, Bangalore South 560034 KA IN
E-mail: compliant@sayyaminvestments.in
Contact: +91 7026019282
Availability: Monday to Saturday, Timing: 9:00 A.M. to 6:00 P.M.
3.3 Content / Information in Complaints
While raising a complaint, the following information must be provided by the customer/complainant in writing (e.g., email):
- Customer’s full name
- Registered mobile number of the customer in working condition
- Loan ID allotted by the Company regarding the complaint
- Specific details of the complaint/issue & supporting documents
- Registered email address
4. Mechanism to handle customer complaints/grievances
Complaint Lodge / Registration
A customer can lodge a complaint through channels as mentioned in clauses 3.1 & 3.2 of this Mechanism, which shall be handled as per the following:
- Whenever a complaint mail is received in digital lending platforms of the Company, the sender receives a response back within three working days acknowledging his/her complaint.
- Further, whenever any complaint is received in the form of a hardcopy (e.g., through any letter), the same is recorded in a register and/or online tracker. In all such cases, our representative calls/contacts the customer at the earliest to find out the exact nature of his/her complaint.
- In case a customer raises a complaint in person at the registered office of the Company, the customer shall physically record his/her grievances at the office.
- In case of follow-up of the complaint via telephonic channel, Sayyam has an exclusive helpline number where a customer can discuss his/her complaint.
- Customer may further escalate concerns as per the matrix given in Annexure - Escalation Grid.
- Customer Care Department should always inform the customer about the following:
- Information pertaining to all issues/concerns raised by the customer;
- Explanation of the final solution provided;
- Expected timelines towards closure (where immediate solution cannot be provided);
- Maintain contact at defined intervals/milestones to communicate progress on the concern and share reasons for delay/time taken;
- Request for more supporting documents/information (where applicable) in a clear manner along with the reason for such requirement.
Resolution of Grievances
- Grievances related to attitude aspects: Such complaints should be handled courteously, sympathetically, and above all swiftly. Misbehavior/rude behavior with customers is treated at a zero-tolerance level, and immediate action is to be taken. Sayyam, under no circumstances, tolerates misbehavior of any degree by representatives (payroll staff/outsourced).
- Grievances relating to transactions/operations: Sayyam would be responsible for ensuring rectification of entry/transaction if it comes under Sayyam's purview. If Sayyam investigates and finds out that issues are due to any third party beyond Sayyam’s control/operations, Customer care executive to guide the customer &provide him/her with avenuesto escalate the issue and Company to take such actions as may be necessary.
5. Treatment of Complaints/Grievances/Enquiries
- All the complaints/enquiries which can be resolved as soon as possible when raised.
- For the complaints which must be verified and may need further investigation/support from other departments and hence cannot be resolved immediately, the customer should be informed about the expected timelines for the closure. For these complaints, tickets would be raised and assigned to the concerned departments on priority for further investigation, and the Company would try to provide resolution within 30 days only.
- After due investigation, the concerned department shall immediately forward their comments to the customer care executives, and thereafter the Customer Care Team shall provide resolution to the customer.
- The Customer Care Team shall make reasonable attempt(s) to reach the customer for providing resolution against his/her complaint.
- After the resolution is provided to the customer, the concerned department updates the status of these complaints as closed.
- If any complaint needs additional time beyond 30 days, the Company shall inform the customer of the reasons for the delay in resolution within the timelines specified above and provide expected timelines for resolution of the complaint.
Note: Note:The above time frame can change depending upon the nature and complexity ofcomplaint.
In case customer has not received any reply from the Company in 30 days or customer remains dissatisfied with the redressal provided by Sayyam, he/she can also approach either Office- inCharge, Department of Supervision (NBFC), Reserve Bank of India, having its regional office at Pan Bazaar, Station Road, Guwahati, Assam- 781 001, through Complaint Management System (CMS) https://cms.rbi.org.in/, Centralised Receipt and Processing Centre (CRPC), Consumer Education and Protection Cell (CEPC), Sachet Portal https://sachet.rbi.org.in/) and/or NBFCOmbudsman, set up by Reserve Bank of India. (only if complaint not raised in forum) (Refer ANNEXURE-Escalation Grid).
6. Time Frame
- Complaints are to be seen in the right perspective because these indirectly lead to continuous improvement in the working of the Company. Complaints received would be analyzed from all possible angles. Sayyam will endeavor to send an acknowledgment within three working days of receipt.
- Complaints should be resolved within a maximum of 30 working days from the date of receipt.
- Some complaints might be complex in nature and might need additional time beyond 30 days. In such cases, the Company shall inform the customer in the interim about the reasons for the delay in resolution within the timelines specified above and provide expected timelines for resolution of the complaint. However, every effort would be made to resolve the complaint within the time frame given.
7. Review Mechanism
7.1 Periodical Review of Complaints
The Company shall review the process and suggest changes, if any, required for making the Grievance Redressal Mechanism more effective and robust.
ANNEXURE - Escalation Grid
| Level | Contact Details |
|---|---|
| FIRST LEVEL |
Customer Care Department Helpline no-1: 022489-30118 Email: service@payrupikloan.in (Between 09:00 A.M. to 09:00 P.M. every day) |
| SECOND LEVEL |
If the complaint is not resolved satisfactorily, customer can contact our Grievance Redressal Officer at: Arjun Kumar - Grievance Redressal Officer Sayyam Investments Private Limited 1 and 2 Floor Khykha Court II #8, 2nd Stage 2nd Block, Hosur Main Road, Koramangala, Bangalore South 560034 KA IN E-mail: compliant@sayyaminvestments.in Contact: +91 7026019282 (Monday to Saturday, Timing: 9:00 A.M. to 6:00 P.M.) |
| THIRD LEVEL |
If the complaint is not resolved satisfactorily, customer can contact our Compliance Officer at: Midhat Zehra - Compliance Officer Sayyam Investments Private Limited 1 and 2 Floor Khykha Court II #8, 2nd Stage 2nd Block, Hosur Main Road, Koramangala, Bangalore South 560034 KA IN E-mail: compliance@sayyaminvestments.in Contact: +91 6361869462 (Monday to Saturday, Timing: 9:00 A.M. to 6:00 P.M.) |
| FOURTH LEVEL |
If the complaint is not resolved satisfactorily from above, customer can contact our Nodal Officer at: Pacha Gopikrishna - Nodal Officer Sayyam Investments Private Limited 1 and 2 Floor Khykha Court II #8, 2nd Stage 2nd Block, Hosur Main Road, Koramangala, Bangalore South 560034 KA IN E-mail: compliantno@sayyaminvestments.in Contact: +91 9916866506 (Monday to Saturday, Timing: 9:00 A.M. to 6:00 P.M.) |
| FIFTH LEVEL |
If the complaint is not redressed satisfactorily within 30 working days across all escalation levels mentioned above, the customer may directly write to Reserve Bank of India, as detailed below:
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