Complaint Redressal Policy

1. INTRODUCTION

JAI FINANCE (INDIA) LIMITED (hereinafter referred to as "JFL" or the "Company") is a Non-Banking Financial Company ("NBFC") operating in compliance with the applicable regulations and directions issued by the Reserve Bank of India ("RBI"). The Company has designed this Grievance Redressal Policy (‘Policy’) in compliance with the circulars, guidelines, etc. from time to time as applicable to a Non-Banking Financial Company ("NBFC") registered with the RBI. The Company believes in conducting its affairs in a fair and transparent manner by maintaining the highest levels of integrity, honesty and ethical behaviour while dealing with its customers (“Customers”).

This Policy is framed in compliance with the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025, the Reserve Bank – Integrated Ombudsman Scheme, 2026, the digital lending provisions of the Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025, and other applicable laws, each as amended from time to time. It sets out the framework for receiving, recording, resolving and escalating Complaints of Customers in a fair, transparent and time-bound manner, and informs Customers of their right to approach the RBI.

2. OBJECTIVE

The objective of the Policy is to ensure that:

1. the Customers are treated fairly and without bias, at all times.
2. the Complaints raised by the Customers are dealt with courtesy and resolved in a timely manner.
3. the Customers are informed of the avenues to escalate their Complaints within the Company.
4. the Customers are informed of their rights so that they can opt for alternative remedies if they are not fully satisfied with the Company’s response or resolution to their Complaints.

3. DEFINITIONS

1. “Complaint” means a representation in writing or through other modes alleging deficiency in service on the part of the Company, and seeking relief under the Scheme;
2. “Credit Information Company” means a company as defined in the Companies Act, 2013 (18 of 2013) and has been granted a certificate of registration under sub-section (2) of section 5 of the Credit Information Companies (Regulation) Act, 2005 (30 of 2005)
3. “Deficiency in service” means a shortcoming or an inadequacy in any financial service or such other services related thereto, which the Company is required to provide statutorily or otherwise, which may or may not result in financial loss or damage to the customer;
4. “Non-Banking Financial Company” (NBFC) means an NBFC as defined in Section 45-I (f) of the Reserve Bank of India Act, 1934 and registered with the Reserve Bank, to the extent not excluded under the Scheme, but does not include a Core Investment Company (CIC), an Infrastructure Debt Fund-Non- Banking Financial Company (IDF-NBFC), a Non-Banking Financial Company- Infrastructure Finance Company (NBFC-IFC), a company in resolution or winding up/liquidation, or under directions of Reserve Bank of India or any other NBFC specified by the Reserve Bank;

   Explanation: The terms CIC and IDF-NBFC shall have the same meaning assigned to them under the RBI Directions.

5. “The Reserve Bank” means Reserve Bank of India constituted under Section 3 of the Reserve Bank of India Act, 1934.
6. “Customer” means any person who has availed, or applied for, any product or service of the Company, including a borrower, co-borrower or guarantor.
7. 'Grievance Redressal Officer' or 'GRO' means the officer appointed by the Company to ensure redressal of the grievances of the borrowers.
8. 'Principal Nodal Officer' or 'PNO' Shall mean the officer appointed in terms with Ombudsman Scheme issued by the RBI.

4. GROUNDS OF COMPLAINT

Any customer aggrieved by an act or omission of the Company resulting in deficiency in service may file a complaint personally or through an authorised representative.

5. GROUNDS FOR NON-MAINTAINABILITY OF A COMPLAINT

1. No complaint for deficiency in service shall lie in matters involving:
   1. commercial judgment/decision of the Company;
   2. a dispute between a vendor and the Company relating to an outsourcing contract;
   3. general grievances against Management or Executives of the Company;
   4. a dispute in which action is initiated by the Company in compliance with the orders of a statutory or law enforcing authority;
   5. a service not within the regulatory purview of the Reserve Bank;
   6. a dispute involving the employee-employer relationship of the Company;
   7. a dispute for which a remedy has been provided in Section 18 of the Credit Information Companies (Regulation) Act, 2005; and
2. A complaint shall not lie to Authorities unless:
   1. the complainant had, before making a complaint made a written complaint to the Company concerned and-
      1. the complaint was rejected wholly or partly by the Company, and the complainant is not satisfied with the reply; or the complainant had not received any reply within 30 days after the Company received the complaint; and
3. the complaint is not in respect of the same cause of action which is already-
   1. pending before an Ombudsman or settled or dealt with on merits, by an Ombudsman, whether or not received from the same complainant or along with one or more complainants, or one or more of the parties concerned;
   2. pending before any Court, Tribunal or Arbitrator or any other Forum or Authority; or, settled or dealt with on merits, by any Court, Tribunal or Arbitrator or any other Forum or Authority, whether or not received from the same complainant or along with one or more of the complainants/parties concerned;
4. the complaint is not abusive or frivolous or vexatious in nature;
5. the complaint to the Company was made before the expiry of the period of limitation prescribed under the Limitation Act, 1963, for such claims;
6. the complainant provides complete information;

   The complainant may approach the RBI Ombudsman if the Company rejects the complaint wholly or partly and the complainant is not satisfied with the response, or if the complainant does not receive a response within 30 days of the Company receiving the complaint, subject to the applicable eligibility conditions and timelines under the RBI Integrated Ombudsman Scheme, 2021, as amended from time to time.

   Explanation 1: For the purposes of sub-clause (2)(a), ‘written complaint’ shall include complaints made through other modes where proof of having made a complaint can be produced by the complainant.

   Explanation 2: For the purposes of sub-clause (2)(b)(ii), a complaint in respect of the same cause of action does not include criminal proceedings pending or decided before a Court or Tribunal or any police investigation initiated in a criminal offence.

6. I. PROCEDURE FOR FILING A COMPLAINT

The Customers who have any Complaint, can follow the following process for its redressal:

1. Primary Level:

   The Customers who intend to file a Complaint, may file their Complaint with the Company by using any of the following channels between 9:00 A.M. to 6:00 P.M. on any working day of the Company and furnishing complete details in relation to such Complaint:

   Details for making Complaint:

   The borrowers may inform the company of the complaint in writing (email and notice) or through telephonic modes. The said complaints shall be maintained and recorded by the customer support team:

   Email at: service@pocketmitra.in

   Call at: 8031290850

   Website: https://pocketmitra.in/grievance-redressal

   Write to the Company at the below mentioned address:

   Jai Finance (India) Limited

   Corporate Off: 2 3 FLOOR KHYKHA KHYAAR 18/1, CASTLE STREET ASHOK NAGAR, Richmond Town, Bangalore, Bangalore North, Karnataka, India, 560025 Kind Attention: Customer Service Team

2. Secondary Level:

   In case, the Complaint is not resolved within 10 (ten) working days from the date of filing of the Complaint or the Customer is not satisfied with the response or the resolution provided to the Customer at Level – 1, the Customer may escalate the Complaint to the Grievance Redressal Officer of the Company.

   Contact details of Grievance Redressal Officer:

   Name: Bhavesh Krishna

   Designation: Collections Manager

   Contact Number: +91 9071074742

   E-mail ID: complaint@jaifinance.in

   Website: https://pocketmitra.in/grievance-redressal

3. Third Level:

   In case, the Complaint is not resolved within 20 (twenty) working days from the date of filing of the Complaint or the Customer is not satisfied with the response or the resolution provided to the Customer at Level – 2, the Customer may escalate the Complaint to the Nodal Officer of the Company.

   Contact details of Nodal Officer:

   Name: Karan Hissaria

   Designation: Customer Support and Credit Review Manager

   Contact Number: +91 9071074743

   E-mail ID: nodalcomplaint@jaifinance.in

   If the complaint/ dispute is not redressed within a period of one month, the customer may appeal to the Officer-in-Charge of the Regional Office of RESERVE BANK OF INDIA- DEPARTMENT OF NON BANKING SUPERVISION, GUWAHATI, ASSAM under whose jurisdiction the registered office of the NBFC falls.

   Company will safeguard personal information of customers, only allowing disclosures and exchange of such information to others who are authorized to see it.

6.2 Complaints relating to LSPs, agents and co-lending partners:

Complaints about any LSP, recovery agent, Digital Lending App or co-lending partner may be made through any channel in paragraph 6. Responsibility for resolving every such Complaint within the timelines in this Policy remains with the Company. For co-lent loans, the single point of contact named in the loan agreement shall receive the Complaint and coordinate its resolution with the co-lending partner.

7. INITIAL SCRUTINY OF COMPLAINTS

1. Complaints which are in the nature of offering suggestions or seeking guidance or explanation shall not be treated as valid complaints and shall be closed accordingly with a suitable communication to the complainant.
2. Complaints which are non-maintainable under shall be separated to issue a suitable communication to the complainant.

8. RESOLUTION OF COMPLAINTS

1. INTERNAL RESOLUTION PROCESS:
   1. The Customers are advised to file the Complaint by furnishing complete details of the same to the Company in any of the modes given at para 6.
   2. Upon receipt of the Complaint by the Company, the acknowledgement along with shall be provided to the Customer within 3 (Three) working days from the date of receipt of such Complaint.
   3. The Company shall provide the necessary clarification / justification with respect to the Complaint, to the satisfaction of the Customer and take all appropriate measures to resolve the Complaint maximum time period of 30 (Thirty) working days from the date of receipt of such Complaint.
   4. In case any additional time is required for resolution of the Complaint, the Company shall inform the Customer about the requirement of such additional time along with the expected timelines for the resolution of such Complaint.
   5. The Company shall ensure that all Complaints filed by the Customers are resolved within the stipulated time frame.

9. GENERAL

Notwithstanding anything contained in this Policy, the Company shall ensure compliance with any additional requirements as may be prescribed under any laws/regulations either existing or arising out of any amendment to such laws/regulations or otherwise and applicable to the Company from time to time.

Notwithstanding anything contained in this Policy, the Company shall at all times comply with the Reserve Bank of India all applicable laws, regulations, directions and circulars, as amended from time to time, and any such amendment shall apply automatically from its effective date. In the event of any inconsistency between this Policy and applicable law, the applicable law shall prevail.

10. REVIEW

The Company shall periodically review the functioning of the Grievance Redressal Mechanism at various levels of management.

11. DISCLOSURE REQUIREMENTS

1. This policy shall be uploaded on the website of the Company.
2. The Company shall prominently display the name and contact details of the Grievance Officer and Principal Nodal Officer along with the details of the complaint lodging portal (https://cms.rbi.org.in) at its branches/places where the business is transacted.