A grievance can be defined as any sort of dissatisfaction that needs to be redressed so that the organization functions smoothly. A grievance can be real or imaginary, legitimate or ridiculous, raised or unvoiced, written or oral; it must, however, find expression in some form or the other.

Discontent or dissatisfaction is not a grievance. Such feelings initially find expression in the form of a complaint. When a complaint remains unattended to and the person who has raised it feels a sense of lack of justice and fair play, the dissatisfaction assumes the status of grievance.

Fair practice code for customers

1. All our dealings with customers shall be open, fair and ethical.
2. We will treat all our customers with respect and professionalism.
3. We shall explain and disclose the features of our services in a transparent and understandable manner. Further, our loan applications and agreements shall include
   1. The interest rate on loans
   2. Processing fee and insurance premium and
   3. All other terms and conditions
4. We will make our best efforts to ensure that the loans we provide are within our customers’ capacity to repay.
5. We will not engage in any coercive methods to collect repayments.
6. We will provide customers with a grievance redressal system to register their complaints and resolve such complaints in a timely and fair manner.
7. We respect our customers’ privacy and will treat customer information as private and confidential.

There are three formal stages in which any grievance can be redressed. At VFS, we want to make sure that you get only the very best of service from us — service which you, our valued member, deserves.

You may write to

Mr Subhasis Ghosh
Nodal Officer
Corporate Office
Village Financial Services Ltd
Eco Space Business Park
Tower 4B
Room No. 403, 4th Floor, New Town, Rajarhat
Kolkata 700 156,
West Bengal
Phone: (033) 66551414 /66551466
Email: contact@village.net.in

If you are not satisfied with the response received from the Chief Nodal Officer or do not receive any response within one month, please contact

MFIN toll-free helpline: 1800 2700 317

If you are not satisfied with the response received from any of the above or do not receive a response from MFIN in 15 days, please contact:

The General Manager,
Reserve Bank of India,
Department of Non-Banking Supervision,
5th Floor,
15, N.S. Road,
Kolkata-700 001

• VFS has installed a complaint/suggestion box at prominent places in all its branches to receive written complaints.
• VFS Head Office address with telephone number is printed in all passbooks.
• During group training sessions, VFS officers discuss the Grievance Redressal System and its benefits with customers.

The policy is subject to revision based on the RBI guidelines and such revisions shall be made from time to time.

Last reviewed by the Board of Directors of the Company at its meeting on October 30, 2018