IVL Finance Limited

(Formerly known as M/s Shivshakti Finance Private Limited)

GRIEVANCE REDRESSAL POLICY

(Approved by the Board April 25, 2017)

Introduction
The IVL Finance Limited as a service organization, imparting good customer service and
enhancing level of customer satisfaction is our prime concern. Providing prompt and
efficient service is essential to attract new customers, as well as to retain existing
ones. Increase in market share and building brand value is possible only by providing
quality service in the shortest possible time ensuing prompt redressal of customer
complaints and grievances.

The review mechanism for grievance redressal should also help in identifying
shortcomings in product features and service delivery.

Our policy on grievance redressal follows the under noted principles.

 Customers to be treated fairly at all times.

 Complaints raised by customers are dealt with courtesy and without undue delay.
 Grievances of pensioners physically challenged and senior citizens are dealt with on
priority.
 Customers are fully 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 HFC to their complaints.
 All complaints to be dealt with efficiently and fairly as otherwise they can damage
our reputation and business.
 Our employees would work in good faith and without prejudice to the
interests of the customer.

In order to make our Grievance Redressal Mechanism more meaningful and

effective, a structured system has been built up towards such an end. This system
would ensure that the redressal sought is just and fair and is permissible within the
given frame-work of rules and regulation.

However in relation to grievance redressal procedures, we have a dedicated mail id

displayed on our website to log on any grievance by any customer if he wants to do
so care_dhani@indiabulls.com
1.1 A complaint is an expression of dissatisfaction made to an organization, related to its products, or
services, or the complaints’ handling process itself, where a response or resolution is explicitly or
implicitly expected.

The reason for customer complaint can be divided into two main categories:

 The behavioral aspects in dealing with customers

 Inadequacy of the working/operations or gaps in standards of services expected and
actual services rendered.

The customer has a right to register his complaint if he is not satisfied with the services provided.
There are four main ways to complain - in person, by telephone, by mail/post or by e-
mail/internet. Complaints received through all these channels must be handled efficiently and
swiftly. If customer’s complaint is not resolved within the prescribed time frame or if he is not
satisfied with the solution provided by us, he can approach RBI with his complaint.

2 Internal Machinery to handle Customer complaints/ grievances:

2.1 Complaint Registration:
A customer may lodge a complaint on phone, in writing or through electronic means, if he/she is
not satisfied with the services provided by IVFL.

Arrangements for receiving complaints and suggestions are given hereunder.

Customer can also call through exclusive help line to register his/her complaint. Whenever a
complaint call or mail is received, 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 i.e. through any letter etc,
same is recorded in a register. In all such cases, our representative calls/contacts customer at the
earliest to find out the exact nature of his/her complaint.

In relation to all complaints received through regulators, we record all such complaints in a
complaint register. After receiving and recording such complaints our representatives contacts
clients and also find out the facts of the complaint to resolve them on urgent basis.

2.2 Complaints in Person:

A Complaint book is available at the branches. A customer can obtain it from the branch and
record his/her grievances therein.

Customer may use complaint/visitors book kept at branch for any feedback/ suggestions for
improvement in our products and services.
2.3 Call Centre:
Complaints can also be lodged at IVFL’s Call Centre on toll free number 1860-419-3333.
Whenever a complaint call is received, sender receives a reply back confirming acknowledgement
of his complaint.

2.4 Complaints through mail/e-mail:

Customer can also submit complaint by post or through e-mail. Complaints received by e-mail
shall be acknowledged by e-mail. Whenever a complaint call is received, sender receives a reply
back confirming acknowledgement of his complaint. Complaints can also be lodged at IVFL’s e-mail
id: care_dhani@indiabulls.com”

3. Resolution of Grievances:
3.1 Grievances related to attitudinal aspects:
Such complaints should be handled courteously, sympathetically and above all swiftly.
Misbehavior/rude behavior with customers be treated at Zero tolerance level and immediate
action is to be taken. IVLFL, under no circumstances, tolerate misbehavior of any degree by our
staff members.

3.2 Grievances relating to transactions / operations:

Primarily Branch is responsible for the resolution of complaints/grievances in this category. Branch
would be responsible for ensuring rectification of entry / transaction or satisfaction of customers.
It is the foremost duty of the branch to see that the complaint is resolved to the customer’s
satisfaction and if he is not satisfied, then to provide him with alternate avenues to escalate the
issue. In case, it is not getting resolved at branch level, they can refer the case to Head
Office for guidance/resolution.

3.3 In case customer is unhappy with the service or redressal provided by the IVFL, he can
also approach RBI for redressal. The contact details are displayed at each branch.

4. Time frame:
Complaints are to be seen in the right perspective because these indirectly reveal a weak spot in
the working of the Company. Complaints received would be analyzed from all possible angles. IVFL
will endeavor to send an acknowledgement within three working days of receipt. Complaint
should be resolved maximum within 30 working days from the date of receipt.

Time matrix for dealing complaint redress process with escalation matrix for various natures of
complaints has been given in Annexure. Departments/officials dealing with the customer
 complaints are required to strictly adhere to the same.

Periodical MIS on complaint is generated and circulated amongst the senior officials of the
Company for their knowledge and further instructions, if any.

5. Review Mechanism
5.1 Customer Service Review by Customers’ Grievance / Risk Management
Committee
There is a specific service committee of the Management which periodically reviews major areas
of customer grievances and measures taken to improve customer service.

The committee would also consider unresolved complaints/grievances and may offer its advice.

5.2 Nodal Officer to handle complaints and grievances:

Aggrieved customers can write directly to the Head Customer Care/ Nodal Officer
regarding their grievances at the following address:

To the Head Customer Care,

IVL Finance Limited.,

4th Floor, Indiabulls Centre, Tower-1,
Senapati Bapat Marg,
Elphinstone –West,
Mumbai - 400013.
Phone: 022-61891019
Email: care_dhani@indiabulls.com

-or-

NODAL OFFICER
To Mr Manish Rastogi
Vice President & Nodal Officer,
Grievance Redress
IVL Finance Limited
C/o Indiabulls House
448-451, Udyog Vihar Phase V, Gurgaon-122016
Ph.: 0124-6685899
Email: 'Manish Rustagi' <mrustagi@indiabulls.com
 6. Mandatory Display Requirements:
IVLFL provides:

 Appropriate arrangement for receiving complaints and suggestions.

 The name, address and contact number of Nodal Officer / Branch Heads.
 Code of IVLFL’s commitments to customers/Fair Practice code.
 Display of comprehensive notice board/Booklet containing all policy etc. relating customers
for her/her information in Branches. The following notice is to be displayed at all IVLFL
Branches.

ESCALATION MATRIX FOR RESOLUTION OF COMPLAINTS

FIRST LEVEL Customers are requested to visit, call or write to the nearest branch of IVLFL.
Name of Branch Head:
Contact details : Phone, email and full address:
If not attended in 7 working days , lodge a complaint through customer help line
SECOND no. 1860-418-3333 (Toll free)
LEVEL Or send an email to care_dhani@indiabulls.com our website to lodge an online
complaint,
or
Write to:
Head Customer Care, IVL Finance Ltd., 4th Floor, Indiabulls Centre, Tower-1,
Senapati Bapat Marg, Elphinstone –West, Mumbai-400013. Phone: 022-61891019
If the complaint is not resolved satisfactorily in 15 working days , contact the
Corporate Office, Gurgaon at:

THIRD National Head Operation

LEVEL Phone 0124-6681184

7. Interaction with customers:

The IVLFL recognizes that customer’s expectation/requirement/ grievances can be
better appreciated through personal interaction with customers by their staff. Many of
the complaints arises on account of lack of awareness among customers about services
offered and such interactions helps customers to avail such services and it reduces the
no of queries/complaints at later stage.
8 Sensitizing operating staff for improvement in service & handling
complaints:
8.1 Complaints occur very often due to lack of knowledge and awareness of the
products and services. The Nodal Officer is required to give feedback on training needs
of staff at various levels to the Central Training Centers.

8.2 IVLFL deal with customers from different segments, which may give rise to
difference of opinion and areas of friction. To deal with customers with a positive
attitude and a customer friendly behavior, the selection of front line staff should be
carefully done. With an open mind and a smile on the face, staff should be able to win
the customer’s confidence. Imparting soft skills required for handling irate
customers, should be an integral part of the training programs. It would be the
responsibility of the Nodal Officer to ensure that the internal machinery for handling
complaints/grievances operates smoothly and efficiently at all levels.