GRIEVANCE REDRESSAL POLICY

INTRODUCTION

Ricavi Finance Private Limited (Formerly known as Ricavi Finance Limited) ( (hereinafter referred as “the Company” or “RFPL”) a Non- Banking Financial Company (‘NBFC’) holding a valid Certificate of Registration (“COR”) with Reserve Bank of India (‘RBI’) classified as NBFC-Investment and Credit Company (NBFC-ICC) under NBFCs-Base Layer (NBFCs-BL) as per Master Direction- Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023.

BASIS

The Reserve Bank of India vide Master Direction- Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023, 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 organisation.

The Grievance Redressal Mechanism Policy has been made as per clause 45.8 of the Master Direction- Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 as issued by Reserve Bank of India (RBI) on Fair Practices Code for Non-Banking Financial Companies (NBFCs).

PURPOSE

The purpose of the policy is to ensure that:

All customers are treated fairly and without bias at all times.
All issues raised by customers are dealt with courtesy and resolved on time.
Customers are made completely aware of their rights so that they can opt for alternative remedies if they are not fully satisfied with the response or resolution to their complaint.

MECHANISM FOR COMPLAINTS

Customers, employees, and investors may lodge their grievances through any of the following channels

Complaints through physical mode/post/email:

i The Company will always make an 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.

Following is the Grievance Redressal Mechanism for customers:

Level 1:

The customer may visit the branch of the Company and record the complaint in the Complaint. Register during working hours (11:00 AM to 6:00 PM), or may send the complaint via email to: info@ricavifinance.com / ca@ricavifinance.com / cs@ricavifinance.com

Level 2:
If the complaint is not resolved within 15 days, the borrower may escalate to the

Grievance Redressal Officer (GRO)
Name: Kiran Desai
Contact No. +91 – 9173809830
Email ID: info@ricavifinance.com

Ricavi Finance Private Limited
801-802, Arista Business Space, Sindhubhavn Road, Bodakdev, Ahmedabad-380054

Ricavi Finance Private Limited shall endeavour to respond to each complaint within 30 Days from the date of receipt of the Complaint.

Email: info@ricavifinance.com / ca@ricavifinance.com/cs@ricavifinance.com

Level 3:
Escalation to Reserve Bank of India under Integrated Ombudsman Scheme, 2021

If the complaint is not resolved within 30 days from the date of receipt of the complaint by the Company, or if the complainant is not satisfied with the response provided, the Complainant may approach the Reserve Bank of India under the Reserve Bank – Integrated Ombudsman Scheme, 2021.

Complaints may be lodged with RBI through the Complaint Management System (CMS) in online mode at https://cms.rbi.org.in.

The complaint may also be submitted to the Centralised Receipt and Processing Centre (CRPC), RBI, in physical or electronic form, as notified by RBI from time to time.

The complaint shall be submitted in electronic or physical mode in such format and containing such information as may be specified by RBI at the address below:

Centralised Receipt and Processing Centre, Reserve Bank of India, 4th Floor, Sector 17, Chandigarh — 160017

PRINCIPAL NODAL OFFICER (PNO) – RBI INTEGRATED OMBUDSMAN SCHEME, 2021

In compliance with the Reserve Bank – Integrated Ombudsman Scheme, 2021, the Company has designated a Principal Nodal Officer (PNO) who shall be responsible for representing the Company and coordinating with the Reserve Bank of India in respect of complaints filed against the Company under the RBI Complaint Management System (CMS).

Details of the Principal Nodal Officer are as follows:
Name: Chirag Desai
Email ID: cs@ricavifinance.com
Contact No.:+91-9898571111

TIME FRAME / ESCALATION

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.

i In the event of non-disposal of complaint by the Branch Manager/ Grievance Redressal Officer, the same will escalate to the Compliance Officer, who would take steps to resolve the same expeditiously

ii All efforts will be made to resolve each complaint received generally within the stipulated time. There may be some complaints which require deeper analysis from all possible angles which may cause delayed resolution of the complaint. In such cases, Ricavi Finance Private Limited will try to resolve the grievances at the earliest, depending on the nature of the case. Such a delay in addressing the complaint beyond the prescribed time limit shall be conveyed to the complainant along with the reasons for the same.

If the complaint is not resolved within 30 days from the date of receipt of the complaint by the Company, or if the complainant is not satisfied with the response provided, the complainant may approach the Reserve Bank of India under the Reserve Bank – Integrated Ombudsman Scheme, 2021.

Complaints may be lodged with RBI through the Complaint Management System (CMS) in online mode at https://cms.rbi.org.in.

MANDATORY DISPLAY AT THE OFFICES

At the operational level, the Company shall display the following information prominently, for the benefit of its customers, at its places of business:

i. The name and contact details (Telephone / Mobile nos. / email address) of the Grievance Redressal Officer who can be approached by the customer for the resolution of complaints against the Company.

ii.If the complaint is not redressed within 30 days, the customer may escalate the complaint to the Reserve Bank of India under the Integrated Ombudsman Scheme, 2021, through the Complaint Management System (CMS).

INTERACTION WITH CUSTOMERS

TheCompany recognizes that customers’ expectations/requirements/grievances can be better appreciated through personal interaction with customers and publicity of the grievance redressal machinery by placing them on its website / its offices at the regional level / corporate office.

SENSITIZING OPERATING STAFF FOR IMPROVEMENT IN SERVICE & HANDLING COMPLAINTS

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 sensitising 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 service and minimizing grievances. Imparting soft skills required for handling customers would be an integral part of the training programs.

REVIEW OF THE POLICY

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.