Grievance Redressal Policy - My Mudra

1. Introduction and Objective

As a Lending Service Provider (LSP), My Mudra is committed to delivering fair, transparent, and seamless digital lending services on behalf of our partner Regulated Entities (REs). This Grievance Redressal Policy outlines a practical, accessible, and structured framework for borrowers to raise complaints regarding FinTech/digital lending services provided through our web platform.

The primary objective is to resolve customer grievances quickly and efficiently while ensuring strict compliance with regulatory guidelines.

2. Scope and Applicability

This policy applies to:

All borrowers utilizing My Mudra's digital lending web platform.
Services provided by My Mudra (acting as the LSP) via our website.
Any issues related to the Key Fact Statement (KFS), loan disbursements, collections, privacy, or technical failures.

Note: While My Mudra manages the initial grievance process as an LSP, the ultimate responsibility for grievance redressal remains with the respective Regulated Entity (RE) providing the loan.

3. Channels for Lodging Complaints

Borrowers can easily register their grievances through multiple channels. The facility to lodge a complaint is directly embedded within our official website.

Website Portal: Visit the dedicated grievance portal on our website to submit a complaint.
Email: Dedicated support contact points.
Customer Care Helpline: Available directly on our platform.

4. Escalation Matrix

To ensure practical and timely resolution, we follow a tiered escalation mechanism:

Level 1: Customer Support Desk

Action: Borrowers register their complaint via Website, Email, or Phone.
Target Acknowledgement: Within 24-48 working hours.
Target Resolution Time: 5-7 working days.

Level 2: Grievance Redressal Officer (GRO)

If the resolution provided at Level 1 is unsatisfactory, or if there is no response within the estimated timeframe, the customer can escalate the issue to the Nodal Grievance Redressal Officer. The company has appointed a Nodal Grievance Officer to redress customer grievances relating to any digital lending-related complaints. The name and contact details of the Nodal Grievance Officer are provided below:

Name: Ms. Chhaya Pandit
Address: Second Floor, 17A/45, WEA, Karol Bagh, New Delhi, Delhi 110005.
Email: chhaya@mudrafincorp.co.in
Call at: 9999155826 (Lines are open Mon-Sat from 9:30 am to 6:30 pm)
Responsibilities: The Nodal GRO at My Mudra is specifically empowered to handle FinTech/digital lending complaints, including issues related directly to our operations as an LSP and our web platform.

Level 3: Regulated Entity (RE) Nodal Officer

As the ultimate responsibility of grievance redressal lies with the Regulated Entity, borrowers who remain dissatisfied with the GRO's resolution can immediately escalate to the RE.

Contact Details: Prominently displayed on the My Mudra website and inside the borrower's KFS.
Target Resolution Maximum: 30 days from the initial date of complaint.

5. Mandatory Disclosures & Accessibility

To maintain absolute transparency and regulatory compliance:

Website Visibility: The contact details of the My Mudra GRO, the RE's Nodal Officer, and the overall escalation mechanism are prominently displayed on the homepage/support pages of the My Mudra website.
Key Fact Statement (KFS): Every borrower's KFS features the direct contact details of the Grievance Redressal Officers for both My Mudra and the respective RE.
In-Built Filing Mechanism: The website features an automated complaint lodgment system to remove friction from the reporting process.

6. Escalation to the RBI Ombudsman

If any complaint lodged by the borrower against RE or the LSP engaged by the RE is not resolved by the RE within the stipulated period (currently 30 days), he/she can lodge a complaint over the Complaint Management System (CMS) (https://cms.rbi.org.in/) portal under the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS)5. For entities currently not covered under RB-IOS, complaint may be lodged as per the grievance redressal mechanism prescribed by the Reserve Bank.