1. Objective of the Policy
    • To frame a mechanism for dispute resolution in accordance with The Reserve Bank of India’s (“RBI”) ‘Ombudsman Scheme for Non-Banking Financial Companies, 2018’ as per RBI Notification dated February 23, 2018 (Ref. CEPD. PRS. No. 3590 /13.01.004/2017-18)
    • To help address customer concerns, conflicts & disputes in a neutral and independent manner and enable orderly and timely resolution of such concerns, conflicts & disputes.
    • To promote a fair conflict management system that is independent & fair as well as easily approachable for customers.
    • To provide an alternative medium for customers to raise their voices before considering more complex & time-consuming legal procedures like approaching a forum/authority/court for settlement of their disputes.
    • To offer a trained an experienced professional who can directly report to the Board of Directors of Si Creva and raise the customers concern to the Board, if required, and provide adequate resolution on same on a timely manner.
  2. Grounds for filing a complaint by a customer under the Ombudsman Scheme

    In case of grievance, the customer may prefer a written complaint with the Head Office of Si Creva, in respect of the following, provided the matter is not referred to any court or forum:

    • non-presentation or inordinate delay in the presentation of post-dated cheques provided by the customer;
    • failure to convey in writing, the amount of loan sanctioned along with terms and conditions including annualised rate of interest and method of application thereof;
    • failure or refusal to provide sanction letter/ terms and conditions of sanction in vernacular language or a language as understood by the borrower;
    • failure or refusal to provide adequate notice on proposed changes being made in sanctioned terms and conditions in vernacular language as understood by the borrower;
    • levying of charges without adequate prior notice to the borrower/ customer;
    • non-observance of directions issued by RBI relating to the Non-Banking Financial Companies, The Ombudsman Scheme for NBFCs, 2018; and
    • non-adherence to any of the other provisions of RBI Guidelines on Fair Practices Code for Non- Banking Financial Companies.
  3. Who can file a complaint?
    Any customer who has a loan account (Open or Closed account) with Kissht / Si Creva can file a complaint, either by himself or through his authorised representative (other than an Advocate).

    The above includes customers who have applied for loan with Kissht / Si Creva through any of the various mediums available for loan application as follows:

    • Online Channels (Kissht Mobile App / Kissht Website)
    • Retail Merchants who have a valid legal agreement with Kissht / Si Creva for providing loans through Kissht / Si Creva
    • Franchisee Partners who have a valid legal agreement with Kissht / Si Creva for providing loans through Kissht / Si Creva
    • 3rd party services/companies who have a valid legal agreement with Kissht / Si Creva for providing loans through Kissht / Si Creva
    • Any other new medium that Kissht / Si Creva may choose to introduce going forward (by means of a valid & legal agreement) for selling of loans to end customers.
  4. When can the customer file a Complaint with the Ombudsman?
    • Customer needs to make a written representation i.e. lodge a written compliant (written on paper &
      submitted to Si Creva Head Office OR Email written to Si Creva care@kissht.com
      / escalation@kissht.com either by himself or through his authorised representative in the format enclosed as Annex II.
    • If reply is not received from Si Creva within 1 (one) month, OR, if the customer remains dissatisfied with the reply, then the customer may file a complaint with Ombudsman (not later than 1 (one) year after the reply from Si Creva), provided that customer has not approached any forum/court/authority.
  5. How does the Ombudsman take decision?
    • The proceedings before Ombudsman are summary in nature.
    • The Ombudsman will promote the settlement of the complaint by mutual agreement between the complainant and Si Creva through conciliation or mediation.
    • If the above is not reached, then the Ombudsman can pass an Award/Order either allowing or rejecting the complaint along with reasons for passing such Award/Order.
    • If a customer is not satisfied with decision of Ombudsman, he/she can file an appeal against the Award/Order with the Deputy Governor, RBI, within 30 (thirty) days of the date of receipt of communication of Award/Order OR Rejection of complaint.
    • Si Creva may go in for appeal against the Award within 30 (thirty) days from the date of receipt of the letter of Award.
    • An ‘Award’ includes a direction for specific performance by the NBFC concerned. It may or may not include a direction to pay compensation for the loss, if any, suffered by the complainant. The ombudsman will not have the power to pass an Award directing payment of an amount which is more than the actual loss suffered by the complainant or Rs.10 lakh, whichever is lower. In addition, the ombudsman may also award compensation not exceeding Rs.1 lakh to the complainant, taking into account the loss of time, expenses incurred, harassment and mental anguish suffered by the complainant.

    Note:

    • The Ombudsman may reject a complaint at any stage.
    • The Ombudsman Scheme is an Alternate Dispute Resolution Mechanism.
    • The Customer is at liberty to approach any other court/forum/authority for the redressal of their disputes at any stage.
  6. How will the award be implemented?
    1. Si Creva to implement the settlement arrived with the complainant or the Award passed by the Ombudsman when it becomes final and send a report in this regard to the RBI within 15 (fifteen) days of the award becoming final.
  7. Annex – I
    The details of the Nodal Officers of Si Creva who can be approached by the customer as per the Ombudsman Scheme for Non-Banking Finance Companies, 2018 and the details of the RBI Ombudsman are given below:

    Name and Contact details of the Nodal Officer of Si Creva to be approached by the customer

    Sr.No. Name Contact Detail Zone Office Address
    1 Mr. Suraj Shetty 022-68367347 / 9561698920,
    suraj.shetty@kissht.com

    Pan India Si Creva Capital Services Private Limited
    202-203, 2nd Floor, Peninsula Center, Dr S S Rao Road,
    Parel, Mumbai 400012, Maharashtra, India.

    Address and Area of Operation of RBI Ombudsman

    Sr.No. Centre Address of the Office of NBFC Ombudsman Zone / Area of Operation
    1 Chennai C/o Reserve Bank of India, Fort Glacis, Chennai 600 001.
    STD Code: 044 Telephone No : 25395964 Fax No : 25395488
    Email : nbfcochennai@rbi.org.in
    Tamil Nadu, Andaman and Nicobar Islands, Karnataka,
    Andhra Pradesh, Telangana, Kerala,
    Union Territory of Lakshadweep and
    Union Territory of Puducherry
    2 Mumbai C/o Reserve Bank of India, RBI Byculla Office Building Opp. Mumbai Central Railway Station Byculla, Mumbai 400 008.
    STD Code: 022 Telephone No : 23028140 Fax No : 23022024
    Email : nbfcomumbai@rbi.org.in
    Maharashtra, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, Union Territories of Dadra and Nagar Haveli, Daman and Diu

    3 New Delhi C/o Reserve Bank of India, Sansad Marg New Delhi 110001.
    STD Code: 011 Telephone No: 23724856 Fax No : 23725218-19
    Email : nbfconewdelhi@rbi.org.in
    Delhi, Uttar Pradesh, Uttarakand, Haryana, Punjab, Union Territory of Chandigarh Himachal Pradesh, and Rajasthan and State of Jammu and
    Kashmir
    4 Kolkata C/o Reserve Bank of India, 15, Netaji Subhash Road Kolkata 700 001.
    STD Code: 033 Telephone No : 22304982 Fax No : 22305899
    Email : nbfcokolkata@rbi.org.in

    West Bengal, Sikkim, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Bihar and Jharkhand

    Please refer to www.rbi.org.in & https://kissht.com for further details of the Scheme.

  8. Annex II
    FORM OF COMPLAINT (TO BE LODGED) WITH THE NBFC OMBUDSMAN
    (TO BE FILLED UP BY THE COMPLAINANT)

  9. To:
    The NBFC Ombudsman
    Place of office of the NBFC Ombudsman …………………………..

    Dear Sir,

    Sub: Complaint against (Name of the NBFC branch)
    of (Name of the NBFC)

    Details of the complaint are as under:

    • Name of the Complainant …………………………..

    • Full Address of the Complainant …………………………..…………………………..
    Pin Code …………………………..
    Phone No/ Fax No. …………………………..
    Email …………………………..

    • Complaint against (Name and full Address of the branch & NBFC) …………………………..
    …………………………..
    Pin Code …………………………..
    Phone No. / Fax No. …………………………..
    Email …………………………..

    • Particulars of NBFC Account (If any)
    …………………………..…………………………..…………………………..………………………….. (Please state the number and the nature of account viz. deposit/ loan account etc. related to the subject matter of the complaint being made.)

    • (a) Date of representation already made by the complainant to the NBFC (Please enclose a copy of the representation)
    …………………………..
    (b) Whether any reminder was sent by the complainant? YES/NO
    (Please enclose a copy of the reminder)

    • Subject matter of the complaint
    (Please refer to Clause 8 of the Scheme)
    …………………………..…………………………..…………………………..…………………………..

    • Details of the complaint
    (If space is not sufficient, please enclose separate sheet)
    …………………………..…………………………..…………………………..…………………………..
    …………………………..…………………………..…………………………..…………………………..
    …………………………..…………………………..…………………………..…………………………..
    …………………………..………………………………..

    • Whether any reply (Within a period of one month after the NBFC concerned received the representation) has been received from the NBFC? Yes/ No (if yes, please enclose a copy of the reply )

    • Nature of Relief sought from the NBFC Ombudsman
    …………………………..…………………………..…………………………..…………………………..
    ……………………
    (Please enclose a copy of documentary proof, if any, in support of your claim)

    • Nature and extent of monetary loss, if any, claimed by the complainant by way of compensation (Please refer to Clauses 12 (5) & 12 (6) of the Scheme) Rs…………………………..

    • List of documents enclosed: (Please enclose a copy of all the documents)

    • Declaration:

    • I/ We, the complainant/s herein declare that: a) the information furnished herein above is true and correct; and b) I/ We have not concealed or misrepresented any fact stated in the above columns and in the documents submitted herewith.
    • The complaint is filed before expiry of period of one year reckoned in accordance with the provisions of Clause 9(A)(a) and (b) of the Scheme.
    • The subject matter of the present complaint has never been brought before the Office of the NBFC Ombudsman by me/ us or by any of the parties concerned with the subject matter to the best of my/ our knowledge.
    • The subject matter of the present complaint has not been decided by/ is not pending with any forum/ court/ arbitrator.
    • I/ We authorise the NBFC to disclose any such information/ documents furnished by us to the NBFC Ombudsman and disclosure whereof in the opinion of the NBFC Ombudsman is necessary and is required for redressal of our complaint.
    • I/ We have noted the contents of the Ombudsman Scheme for NBFCs, 2018

    Yours faithfully, (Signature of Complainant)

    NOMINATION – (If the complainant wants to nominate his representative to appear and make submissions on his behalf before the NBFC Ombudsman or to the Office of the NBFC Ombudsman, the following declaration should be submitted.)

    I/We the above named complainant/s hereby nominate Shri/ Smt
    …………………………..………………………….. who is not an Advocate and whose address is
    …………………………..………………………….…………………………..…………………………..as my/ our REPRESENTATIVE in all proceedings of this complaint and confirm that any statement, acceptance or rejection made by him/her shall be binding on me/ us. He/ She has signed below in my presence.

    ACCEPTED

    (Signature of Representative) (Signature of Complainant)
    Note: If submitted online, the complaint need not be signed.