A grievance can be defined as any sort of dissatisfaction, which needs to be redressed in order to bring about the smooth functioning of the organization. Broadly, a grievance can be defined as any discontent of dissatisfaction with any aspect of the organization. It can be real or imaginary, legitimate or ridiculous, rated or unvoiced, written or oral; it must be however, find expression in some form of the other.
Discontent or dissatisfaction is not a grievance. They initially find expression in the form of a complaint. When a complaint remains unattended to and concerned feels a sense of lack of justice and fair play, the dissatisfaction grows and assumes the status of grievance.
FAIR PRACTICES CODE FOR CUSTOMERS
- All our dealings with customers will be open, fair and ethical.
- We will treat all our customers with respect and professionalism.
- We shall explain and disclose the features of our services in a transparent and understandable manner. Further, our applications and agreements shall clearly include:
A. Interest rate on loans
B. Processing Fee and Insurance Premium and
C. All other terms and conditions
- We will make our best efforts to ensure that the loans we provide are within our customers’ capacity to repay.
- We will not engage in any coercive methods to collect repayments.
- We will provide customers with a grievance redressal system to register their complaints and resolveit in a timely & fair manner.
- 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.
VFS members may contact our branches or write to the Branch Manager explaining the details of their issues. Our Branch Manager will be glad to assist you.
If you do not receive a response within 10 days from the channels under STEP:1, or, if you are not satisfied with the response received, you can escalate your complain to our Help Desk Executive at our Corporate Office 033 66551466 (from 10.00 AM to 05:00 PM except Saturday, Sunday and other Holidays)
If you are not satisfied with the response that you receive from the Branch level or channels under STEP 2, or if you do not hear from us in 10 days, you may contact the Office of the Chief Nodal Officer for a speedy investigation and fair resolution of your problem. Please quote the reference number provided to you in your earlier interaction with the VFS, along with your account / loan number to help us understand and address your concern.
You may write to:
To, Mr. Subhasis Ghosh
Village Financial Services Ltd. (VFS)
Eco Space Business Park
Room No.-403, 4th Floor New Town, Rajarhat
Kolkata-700156, West Bengal
Phone: (033) 66551414 /66551466
If the complaint/dispute is not redressed within a period of one month, you may appeal to;
The General Manager
Reserve Bank of India
Department of Non-Banking Supervision
5th Floor, 15, N. S. Road,
- VFS installed complaints/suggestion box at all our branches at prominent places to receive written complaints.
- VFS Head Office address with Telephone number printed in all passbooks.
- During Group Training discuss with our customers about the Grievance Redressed System and its benefits.
The policy is subject to revision based on the RBI guidelines and such revisions shall be made on a time to time basis
Last reviewed: By the Board of Directors of the Company in their meeting dated 12th May, 2017
Last reviewed: By the Board of Directors of the Company in their meeting dated 9th August, 2017