Introduction

Ramaiah Capital Private Limited (hereinafter referred to as ‘the Company’) has framed the Customer Service Policy (hereafter referred to as “Customer Service Policy” or “the Policy”) in accordance with the regulatory requirements specified by the Reserve Bank of India (RBI).

Objectives of the Policy

The objective of the Customer Service Policy is to ensure that:

• All customers are treated fairly and without bias
• Customer are made aware of their rights and available remedies
• Issues raised by customers are attended and dealt with utmost care and resolved within a reasonable time.

Mode of communication with customers

Communication with customers shall be in writing/ email. SMS, or by telephone

It shall be in the vernacular and or language understood by the borrower.

 Loan Application

The loan applications shall include all required information including list of documents required to be submitted.

The receipt of loan application shall be acknowledged physically or electronically.

The terms and conditions of sanction, interest rate,mode of application of interest and other charges shall be conveyed in the sanction in unambiguous terms.

Interest Rates and Change in Terms and conditions

Any changes in the terms and conditions, or charges or interest rates shall be conveyed to the borrowers.

Changes in charges or interest rates shall apply only prospectively.

The rates of interest shall also be made available on the web-site of the Company. The information published in the website or otherwise published shall be updated whenever there is a change in the rates of interest.

The rate of interest shall be annualised so that the borrower is aware of the exact rates that would be charged to the account. The type of interest and the method of application shall be made known to the borrowers.

Foreclosure charges will not be applicable in on any floating rate term loan sanctioned for purposes other than business to individual borrowers.

 Loan Agreement

Customer on request shall be furnished with a copy of the loan agreement either physically or electronically along with a copy each of all enclosures quoted in the loan agreement at the time of sanction / disbursement of loans.

In case of receipt of request from the borrower for transfer of borrowal account, the consent or otherwise i.e. objection if any shall be conveyed within 15 days from the date of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with law.

Recovery Process

The staff shall be trained in proper etiquette for recovery process.

Company shall not resort to undue harassment viz; persistently bothering the borrowers at odd hours, use muscle power for recovery of loans etc.

On repayment of full dues the securities shall be released subject to any legitimate right or lies or any other claim. Before exercising such right the of set off borrower shall be informed about remaining claims and conditions under which company is entitled to retain the securities till relevant claim is settled/paid.

The company shall refrain from interference in the affairs of the borrower except as provided in the terms and conditions unless information not earlier disclosed in noticed by the company.

Mechanism for complaints

Customer can lodge his / her grievance through any of the following channels:

Complaint in Person: A customer can lodge a complaint in person during working hours at any of the companies office/branch or with the designated officer.

Complaints through post / mail / email: Customers can also submit their grievances by post at the following address or e mail by giving full details of the complainant and giving specific instances of the cause of complaint. Addressed to:

Grievance Redressal Officer, M/s Ramaiah Capital Private Limited, No 4/A, “Reshma” 80 feet Road, RMV 2^nd Stage, Ashwathnagar, Bangalore 560094, complaints@ramaiahcapital.com

Recording and tracking of Complaints

All the complaints received is recorded and tracked for end-to-end resolution. Complaint MIS is shared to the management on monthly basis for monitoring, supervision and quality control.

Resolution of Complaints

Any complaint through e-mail / letters / in person shall be acknowledged promptly after receipt.

The Complaints shall be registered in the Customer Complaints Register (CGR) maintained electronically and / or physically, and shall include full details of the complainant and the complaint.

The company shall appoint a designated official as its Grievance Redressal Officer (‘GRO’). The GRO will take steps to redress the grievances with care and diligence, normally within the period of 15 working days from the date of receipt of the complaints.

If the complainant is not satisfied with the reply / action / resolution given by Grievance Redressal Officer (GRO), he / she may directly approach the Chief Executive Officer (CEO), for further action on the same.

The notice indicating following will be prominently displayed in all Branches and offices of the Company.

1. The name and contact details (Telephone / Mobile nos. as also email address) of the Grievance Redressal Officer who can be approached by the public for resolution of complaints against the Company.

2. If the complaint / dispute is not redressed within a period of one month, the customer may appeal to the Offic er-in-Charge of the Regional Office of Department of Non-Banking Supervision of the Reserve Bank of India (with complete contact details), under whose jurisdiction the registered office of the applicable NBFC falls.

The Grievance Redressal Officer shall be the Nodal officer for representing the Company under the Ombudsman Scheme.

Anonymous and pseudonymous complaints will not be entertained.

 Internal Machineries to handle Customer complaints / grievance

The Company will designate a Grievance Redressal Officer (GRO) who shall have the responsibilities of ensuring early resolution of complaints.

The Grievance redressal Officer shall be the point of contact for the customers. He will be responsible to receive the complaint of customers by whatever means, i.e. in person, post, mail etc.

GRO will provide an acknowledgment for the complaint received from the customer within 3 working days of the receipt, and also make necessary entries in the Customer complaints Register (CCR) which shall include full details of the complainant (name, address, and contact details), date of receipt, fact of the complaint, category of complaint etc.

GRO will first examine the nature of the Complaint and initiate necessary action to address the complaint to the satisfaction of the complainant. He / She will also ensure to record the action initiated or taken in the CCR along with the status of the complaint- resolved / unresolved or escalated to next level, as the case may be. GRO will circulate the monthly Action Taken Report on all the complaints received, within 7 working days of the next month to the Chief Executive Officer.

Time Frame

The Complaints received will be analysed from all possible angles. All efforts will be made to resolve each complaint received generally within the stipulated time as per the following escalation matrix:

There may be some complaints which require deeper analysis from all possible angles which may cause delayed resolution of the complaint. In such cases, the company will try to resolve the grievances at the earliest depending on the nature of the case. Such delay in addressing the complaint beyond the prescribed time limit shall be conveyed to the complainant along with reasons for the same.

If the resolution of the complaint is delayed beyond 30 days of receipt, or the complainant is not satisfied with the reasons of delay conveyed to him / her, he / she may appeal to the Ombudsman at Reserve Bank Of India.

Following message shall be displayed on the notice board of the Company: “If your complaint/dispute is not redressed within a period of 30 days, you may appeal to the Banking Ombudsman at Reserve Bank of India at the following address
Smt. Jayasree Gopalan
Chief General Manager & RBI ombudsman
C/o Reserve Bank of India
10/3/8, Nrupathunga Road
Bengaluru -560 001
STD Code: 080
Tel. No. 22277660/22180221
Email: crpc@rbi.org.in

Reporting to Board of Directors

Summary of the customer grievance reports along with actions initiated would be reported to the Board at least twice in a year. The report shall contain information like, the total no. of complaints received, disposed of and pending, with reasons thereof, which will be placed before the Board for information / guidance.