Level 1: Raise Your Concern
Now get complete assistance to overcome your financial concerns over your loan journey with the following grievance redressal guidance at every step.
Website: Most websites offer contact details at the end of their page. Look for options like “Contact Us” or “Support.” You can find,
1 . Email: You can send the grievance details directly through the mail; do not forget to attach details such as
- a.Loan account number
- b.Contact details
- c.The nature of the issue
- d.Supporting documents
2 . Phone number: Call the customer service number during business hours. They will guide you through the immediate processes.
Visit the nearest branch: Locate the nearest branch from the website itself. It is usually the fastest, creating a sense of urgency.
The customer support team usually acknowledges the issue within 24 hours and provides a resolution within 7-10 working days.
Level 2: Escalate to Grievance Redressal Officer (GRO)
Unresolved issues can be raised to the GRO, whose address can typically be found in the website’s contact section or provided at level 1.
1 .Include details such as:
- Complaint reference number from Level 1.
- Full details of the grievance.
- Copies of all previous correspondence and documents.
2 . Clearly state the desired outcome or resolution.
The grievance officer will review your case and provide a resolution within 7-10 working days.
Level 3: Escalate to Senior Nodal Officer (NPO).
Though unlikely, an unresolved issue from GRO can be raised to the NPO.
- Write to the NPO, referencing your earlier complaint ID with a summary of actions taken so far.
- Share all relevant documentation, including responses from Level 1 and Level 2.
- Explain why the resolution provided earlier was inadequate.
PNO usually takes 15 days for a resolution after their independent investigation.
External Redressal / Legal Recourse.
If all the internal avenues are dissatisfactory or don’t resolve the issue within 30 days, you can adopt external options such as:
1. Consumer protection agencies: Consult a lawyer. You can file a complaint with the relevant consumer forum.
2. Regulatory bodies: Copies of all previous correspondence and documents.
- a. Financial services: RBI (RBI Integrated Ombudsman Scheme), IRDAI, or SEBI.
- b. Telecom services: Telecom Regulatory Authority of India (TRAI).
The grievance officer will review your case and provide a resolution within 7-10 working days.
How to file a complaint with the RBI Ombudsman:
1. Visit the RBI CMS (Complaint Management System) portal: https://cms.rbi.org.in.
2. Fill out the complaint form with:
- Personal details
- Loan account details
- Summary of your grievance
- Documentation from Level 1 to Level 3
3. Submit the form online or send a physical copy to the RBI Ombudsman office in your region.
Ensure you attach all correspondence and resolutions attempted during internal redressal for reference.
Note: The guidance provided herein is of a general nature and outlines standard grievance redressal practices commonly adopted by most lending partners. However, specific procedures may vary depending on the policies of your chosen lender. You are advised to consult directly with your lender to confirm their grievance redressal process and obtain assistance designed to your specific concerns.
Grievance Redressal Timelines
| Level | Contact Point | Response Time |
|---|---|---|
| Level 1 | Customer Support Team | 7-10 working days |
| Level 2 | Grievance Redressal Officer (GRO) | 7-10 working days |
| Level 3 | Principal Nodal Officer (PNO) | Up to 15 days |
| Level 4 | Consumer Court/Legal Recourse | Varies (case-specific) |