Grievance Redressal Mechanism Policy

1. Introduction

Avid Capital Pvt Ltd ("the Company") is committed to providing excellent customer service and ensuring fair and prompt resolution of grievances. This policy establishes a structured grievance redressal mechanism in compliance with RBI guidelines to address customer complaints effectively and transparently.

2. Objectives

  • To provide a fair, transparent, and timely mechanism for grievance resolution.
  • To ensure compliance with regulatory requirements.
  • To enhance customer trust and satisfaction.
  • To continuously improve service quality based on customer feedback.

3. Scope & Applicability

This policy applies to:

  • Customers availing financial products and services from the Company.
  • Any complaints related to loan processing, disbursement, repayment, interest rates, service deficiencies, data privacy, or unfair practices.

4. Grievance Redressal Process

Level 1: Customer Service Desk

Customers can lodge complaints via:

Acknowledgment will be provided within 48 hours of receipt, resolution time: 7 working days from the date of complaint.

Level 2: Nodal Officer

If the customer is not satisfied with the resolution at Level 1, they may escalate the issue to the Nodal Officer at nodal.officer@avidcapital.in

Resolution time: 15 working days from escalation.

Level 3: RBI Ombudsman (External Escalation)

In case the customer is not satisfied by the response provided by nodal officer, or in case the grievance is not redressed within a period of 30 (thirty) calendar days from the date of its first submission, then the customer may reach out to RBI using the below channels, to lodge their complaint

RBI CMS portal: https://cms.rbi.org.in
Email: crpc@rbi.org.in
Letter: Send their compliant using the complaint form (format available on the website under Ombudsman scheme 2021) to the below mentioned address:

The Officer in-Charge
Reserve Bank of India,
Department of Non-Banking Supervision,
Reserve Bank of India, Post Bag No.901,
Main Building, Shahid Bhagat Singh Marg,
Mumbai – 400001

5. Complaint Registration & Tracking

Each complaint will be assigned a unique reference number for tracking. Customers will be kept informed about the status and resolution timeline. A centralized grievance register will be maintained for audit and compliance purposes.

6. Roles & Responsibilities

Customer Service Team: First point of contact for grievance handling. Nodal Officer : Final authority for internal grievance resolution. Compliance Team: Ensures adherence to regulatory requirements and periodic reporting.

7. Monitoring & Review

A periodic review of complaints will be conducted to identify trends and areas for improvement.

Reports on grievances and their resolutions will be submitted to senior management and regulatory authorities as required.

Training programs will be conducted to enhance customer service efficiency.

8. Policy Review & Amendments

This policy will be reviewed annually or as required to align with regulatory changes and evolving customer needs.

9. Conclusion

Avid Capital Pvt Ltd is committed to maintaining an effective grievance redressal system that ensures customer satisfaction, transparency, and regulatory compliance.