Grievance Redressal Policy

PREAMBLE

PaisaOne or "We" or "Our" is a DSA. We are committed towards customer satisfaction and have put together the undermentioned customer Grievance Redressal Policy ("Policy") for an effective resolution of all grievances/complaints received from our customers. We make sure that our customers feel secure and heard while using the platform.

We aim to resolve any complaint or grievance which may arise as a result of any gap in the promised and delivered services. This shall also apply to all queries and/or feedback received from our customers. We encourage our customers to provide feedback in respect of our services and aim to improve the quality of our products and services.

The motive of this policy is to reduce customer grievances through appropriate redressal mechanisms. We have put in place a very robust and customer-friendly structure to ensure that all your grievances are resolved in a timely and effective manner. This structure is approved by the Board of Directors.

GOVERNING PRINCIPLES

  • Treating the customer in a fair and respectful manner while redressing their grievances and queries.
  • Making the process of grievance redressal for customers efficient and hassle-free.
  • Timely resolution of all grievances is necessary for business growth and accordingly, complaints raised by customers shall be dealt with courtesy and resolved in a timely manner.
  • Helping customers at all stages of grievance redressal and making them aware of their right(s) to approach the higher stage of grievance redressal.

CHANNELS FOR REGISTRATION OF COMPLAINTS

E-mail: Customers can send an email for redressal of issues at the email id(s) as mentioned hereunder in this policy.

POLICY REVISION

This policy may be revised as and when there are any new changes required in handling complaints / grievances of the customer.

GRIEVANCE REDRESSAL PROCESS

To make the grievance redressal mechanism more meaningful and effective, our management has laid down an escalation mechanism in compliance with various applicable regulations. The management will periodically review the effectiveness of grievance redressal mechanism escalation matrix. We have created the following escalation system for our customers:

Level 1

Customers can reach out to our support team at info@paisaone.com for any query regarding our services. Any complaint registered has to be acknowledged by the support team.

PaisaOne is determined to provide the first response to the customer within 48 hours of the receipt of the complaint.

PaisaOne aims to resolve all support-related complaints within 10 business days (and 30 business days for cases involving fraud).

The aforementioned timelines may change depending upon the nature and complexity of grievances.

In case the customer is not satisfied with the redressal provided at Level 1, complaints can be escalated to Level 2.

Level 2

Grievance Officer

Customers can reach out to the Grievance Redressal Officer at grievance@paisaone.com ("GRO") for any grievance regarding our services or products.

Working Hours: Monday-Friday (except public holidays), 9:30 am to 6:30 pm

PaisaOne's GRO is determined to provide the first response to the customer within 24 hours of receiving the complaint.

The GRO aims to resolve all grievances/complaints within 7 business days (and 30 business days in cases where retrieval of documents and old records is required).

In case the customer is not satisfied with the redressal provided at Level 2, complaints can be escalated to Level 3.

Level 3: Escalation to Lending Partner

If the complaint is not resolved within 7 working days, or the customer is not satisfied with the resolution, the grievance may be escalated to the concerned Bank/NBFC (Lending Partner).

Details of the Lending Partner’s grievance redressal mechanism shall be provided to the customer upon request or displayed on the website/app.

Level 4 – RBI / Ombudsman (Where Applicable)

If the grievance remains unresolved by the Lending Partner, the customer may approach:

RBI Integrated Ombudsman Scheme, as applicable, subject to eligibility.

Record Keeping & Monitoring

  • All grievances shall be recorded and tracked.
  • Periodic reviews shall be conducted to identify systemic issues.
  • Records shall be maintained in compliance with applicable laws.

Confidentiality

All grievances and related information shall be treated as confidential and used only for resolution and regulatory purposes.

Customer Awareness

This Policy shall be:

  • Displayed on the website / mobile application
  • Shared with customers upon request
  • Communicated during onboarding, where applicable

Policy Review & Updates

This Policy shall be reviewed periodically and updated to ensure compliance with regulatory changes and operational requirements.

Governing Law

This Policy shall be governed by and construed in accordance with the laws of India.