Customer Grievance Redressal Policy

1. Objective

In the present scenario of competitive housing finance services, excellence in customer service is the most important tool for sustained business growth. Customer complaints are part of the business life of any corporate entity. This is more so for housing finance industry because they are service organizations. As a service organization, customer service and customer satisfaction are of prime concern to Home First.
The objective of the policy is to have a clearly defined and easily accessible mechanism for dealing with and settlement of customer complaints and grievances through proper service delivery and review mechanism and to ensure prompt redressal and review of customer grievances.

The policy is formulated based on the following principles:

1. Customers shall be treated fairly at all times.
2. All Employees of Home First shall work in good faith and without prejudice to the interest of the
   customers.
3. All Complaints shall be treated efficiently and fairly
4. All Complaints raised by customers shall be dealt with courtesy and within the stipulated time frame.
5. Customers shall be fully informed of procedures to escalate their complaints/grievances within the organization and their rights to alternative remedy, if they are not fully satisfied with the response/redressal provided by the Branch/ Head officer to their complaints/grievances.

 

2. Definitions

a. “Customer” means a ‘Person” who is/was engaged in a financial transaction or activity with the Company.

b. “Person” includes:

1. 1. 1. An individual,
      2. A Hindu undivided family,
      3. A company,
      4. A firm,
      5. An association of persons or a body of individuals, whether incorporated or not,
      6. Every artificial juridical person not falling within any of the above, and
      7. Any agency, office or branch owned or controlled by any of the above persons.

c. “Grievance” means and includes:

1. A Compliant
2. An expression of dissatisfaction on a customer’s behalf.
3. A formal report from a customer providing documentation about a problem with a product or services of the company.

d. “Grievance Redressal Officer” means any senior personnel as appointed by the Company from time to time. The Company can appoint any personnel.

 

3. Grievance Redressal Mechanism

I. Recording of Complaints:

Complaints received through all modes and channels will be recorded in the Customer Relationship Management (CRM) system of the Company

II. Mode of receipt of Grievance:

Customers may register their grievance through any of the following modes:

• • • Visit the branch and record the complaint in the branch register
    • Email to the email ids specified below
    • Phone calls at the toll free or customer care number provided below
    • Letters to the address mentioned below

  Apart from direct grievances from customers, grievances received through various regulatory bodies
  shall also be handled by the Central Service Team.

III. Mode of response:

The Company shall ensure that as far as possible the mode of response is as per the mode of customer
intimation received e.g. complaints received through e-mail shall be responded through e-mail.

IV. Escalation matrix:

IV.I For Home loan related complaints:

IV.II For Insurance related complaints:

4. Review and Amendments:

  The Board reserves the power to review and amend this Policy from time to time. All provisions of this
Policy would be subject to revision or amendment in accordance with the applicable law as may be issued
by relevant statutory, governmental or regulatory authorities, from time to time.