Nar Narayan Fincorp Private Limited (hereinafter referred as “the Company” or “PFS”) a Non Banking Financial Company (‘NBFC’) holding a valid Certificate of Registration (“CoR”) with Reserve Bank of India (‘RBI’) vide registration no. B-01.00590 dated March 29th, 2018 under current RBI classification as NBFC - Investment and Credit Company (NBFC-ICC) – Non Deposit taking Non Systemically Important (‘ICC-ND-NSI’) with more than 9 years of experience in asset finance business.
PFS is currently offering working capital financing products to the retailers and the distributors where it underwrites based on their month-on-month cash flows and give them a short term (<1 year) working capital loans.
The Reserve Bank of India vide Master Direction - Non-Banking Financial Company- Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016, as amended from time to time issued guidelines on Grievance Redressal Mechanism for applicable NBFC and has required all NBFCs shall lay down the appropriate grievance redressal mechanism within the organization.
The Grievance Redressal Mechanism Policy has been made as per clause 32 of the Master Direction - Non- Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 as issued by Reserve Bank of India (RBI) on Fair Practices Code for Non-Banking Financial Companies (NBFCs).`
The purpose of the policy is to ensure that:
Customers, employees, investors can lodge his / her grievance through any of the following channels:
The Company will always make effort to redress the complaints of the customers at the earliest and in the best possible way and provide the customer with our best services.
The customer may visit to the business address of the Company and the complaint logged in the “Complaint Register” maintained at the office (During the working hours from 09.30 A.M To 6.30 P.M.). The Fintech team will act as a first point contact for the customer wherein he can make his complaint in writing.
In the event of non-disposal of complaint by the designated team member within 15 days, the same will escalate to the Grievance Redressal Officer, who would take steps to resolve the same expeditiously
The Grievance Redressal Officer who can be approached by the public for resolution of complaints against the Company as per the details below: -
Mr. Shaival Patel
Grievance Redressal Officer
Parker Financial Services Private Limited
Contact No.: +91 74860 11877
The Reserve Bank of India has introduced an Ombudsman Scheme for customers of Non-Banking Financial Companies (NBFCs). The NBFC Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against NBFCs for deficiency in certain services covered under the grounds of complaint specified under Ombudsman Scheme for Non- Banking Financial Companies, 2018 (the Scheme).
For the complainants who are not satisfied with the response or do not receive a response from Compliance Officer within 8 days of receiving the complaint. If more time is required, the Company will inform the customer expected timeline. The Reserve Bank of India has introduced a web based mechanism “Complaint Management System (CMS)”, for lodging Complaints / Grievances by Citizens of India which may include the customers as well. This is known as Public Grievance portal (https://cms.rbi.org.in/). Customers may make use of the said Portal to communicate their grievances to the Company.
The complaint may also be submitted through electronic or physical mode to the Centralised Receipt and Processing Centre as notified by the Reserve Bank. The complaint, if submitted in physical form, shall be duly signed by the complainant or by the authorised representative. The complaint shall be submitted in electronic or physical mode in such format and containing such information as may be specified by RBI on below address:
Centralised Receipt and Processing Centre,
Reserve Bank of India,
4th Floor, Sector 17,
Chandigarh — 160017
The Company will always make effort to redress the complaints of the customers / investors / employees at the earliest and in the best possible way and provide its best services.
In the event of non-disposal of complaint by the Fintech team/ Grievance Redressal Officer, the same will escalate to the Compliance Officer, who would take steps to resolve the same expeditiously.
Shri Subodh Kumar Gupta
C/o Reserve Bank of India
Office of RBI Ombudsman
4th Floor, Riverfront House
Behind H. K. Arts College
Between Gandhi and Nehru Bridge
Pujya Pramukh Swami Marg (Riverfront Road-West)
Ahmedabad- 380009
STD Code: 079 Tel. No. 26582357
At the operational level, the Company shall display the following information prominently, for the benefit of its customers, at its every places of business:
The Company recognizes that customer’s expectations / requirements / grievances can be better appreciated through personal interaction with customers and publicity of grievance redressal machinery by placing them on its website / its offices at the regional level / corporate office.
The Company deals with customers, employees, investors and third-party service provider from different segments, which may give rise to difference of opinion and areas of friction. The Company understands the importance of sensitizing staff to handle customer, employee, investor and third party service provider complaints / grievances with courtesy, empathy and promptness. The Company shall also conduct training programs regularly for staff on customer services and minimizing grievances. Imparting soft skills required for handling customers, would be an integral part of the training programs.
The Board shall review and amend this policy as and when required.
If at any point a conflict of interpretation / information between the policy and any regulations, rules, guidelines, notification, clarifications, circulars, master circulars/ directions issued by relevant authorities (“Regulatory Provisions”) arises, then interpretation of the Regulatory Provisions shall prevail.
In case of any amendment(s) and/or clarification(s) to the Regulatory Provisions, the policy shall stand amended accordingly from the effective date specified as per the Regulatory Provisions.
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