Version 1.0 - June 2020
At FairMoney Technology Private Limited (hereinafter referred to as “FairMoney” or “the Company” or “we” or “us”), the Grievance Redressal Policy has been formulated in accordance with the Reserve Bank of India’s (RBI) Master Direction – Non-Banking Financial Company – Non-Systematically Important Non-Deposit taking company (Reserve Bank) Directions, 2016, updated from time to time and approved by the Company’s Board of Directors.
2. Purpose/Key Commitments
FairMoney’s key commitments towards its customers are:
3. Grievance Redressal Process / Mechanism
3.1. Modes of Raising a Complaint
FairMoney’s customers who have any complaints or grievances with respect to the services offered should write to the customer service department through the following channels:
If a customer is unable to reach us through the channels mentioned above, he/she can contact us at our office address:
#39, NGEF Lane
2nd Floor, No.741
Bangalore, Karnataka 560 038
Information collected from the customer - We may ask our customers for the following information in order to be able to address their grievance:
3.2. When to expect an answer
After a customer has filed a complaint, he/she should expect to receive an acknowledgement/response within one week of receipt. The Company shall also provide suitable justification in case the complaint resolution requires more than the stipulated time.
3.3. Addressing or handling of complaints
In case the complaint is not resolved within the specified timeframe or the customer is not satisfied with the resolution provided, he/ she may contact the Company’s Grievance Redressal Officer (GRO). The name and contact details of the GRO is as under:
Designation: Grievance Redressal Officer
Name: M. Max C.
Tel. No: 98704 04696
Email ID: firstname.lastname@example.org
The GRO will be available during office hours to receive the grievance of all customers. In the event of the GRO not being available, the immediate senior officer in the Company shall attend the customer.
After examining the grievance, the GRO will send the final response within 30 working days of the receipt of the complaint/ grievance. During this time, customers can write in to us to check on the status of their grievance, and we will endeavor to respond to them as quickly as possible.
Certain types of cases might need additional time due to the nature of the activities involved; for e.g. retrieval of documents. The Company will inform the customers of such delay and provide expected timelines for resolution of the complaint.
Level 1: The customer can contact us through one of the channels listed above under the ‘Modes of Raising a Complaint’ section
Level 2: If the customer is not fully satisfied with the company’s response to his/her grievance, he/she can contact the Grievance Redressal Officer at email@example.com
Level 3: If the customer doesn’t receive any response from FairMoney within 4 weeks or is dissatisfied with the response received, he/she can contact the Reserve Bank of India at the following address:
Department of Non-Banking Supervision Reserve Bank of India
Centre I, World Trade Centre
4. Supervision and monitoring
FairMoney’s customer service team will read every grievance sent to the Company through the channels listed in the ‘Modes of Raising a Complaint’ section. They will respond to all complaints within one week, and may ask the customer for additional details about the grievance.
For more complex issues, the customer service representatives may escalate the issue to the Company’s Grievance Redressal Officer.
FairMoney uses both internal tools (the Company’s admin site) and external tools to track all customer services messages, including grievances, that we receive. Our customer service team will monitor grievances on a daily basis to ensure timely resolution.
All grievances made by the customers will be electronically recorded and maintained by the Company in each of its office and branches, if any.
5. Mandatory Display Requirements
The company shall display the following information prominently, for the benefit of its customers, at all places where business is transacted:
6. Policy revision
The Grievance Redressal Officer will review and assess the adequacy of this Policy in line with the RBI updates on an annual basis. It will be brought to the Board of Directors for review and approval, as and when any changes are required. The developments/ changes, if any shall be communicated to the customers and relevant stakeholders as and when necessary.