1. Purpose

Pursuant to the Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 issued by Reserve Bank of India, as amended from time to time, the Company has adopted the Fair Practices Code of Padmalaya Finserve Private Limited (hereinafter referred to as “Padmalaya” / the “Company”). The said guidelines require every NBFC to have a system and a procedure for receiving, registering and disposing of complaints and grievances.

As the Company originates and services its personal loan products through a Digital Lending Application (DLA) and, where applicable, in partnership with Lending Service Providers (LSPs), this Policy also incorporates the grievance redressal requirements prescribed under the Reserve Bank of India (Digital Lending) Directions, 2025.

The objective of this policy document, therefore, deals with how the customer grievances received by the Company will be dealt with, by whom, and within what time-frame. A record of all customer grievances will be maintained by the Company in such form as is feasible and all grievances will be reported to the Management in an appropriate forum and format along with details of steps taken for redressal thereof

Our policy on grievance redressal follows the under noted principles.

• Customers to be treated fairly at all times.

• Complaints raised by customers are dealt with courtesy and without undue delay.

• Customers are fully informed of avenues to escalate their complaints / grievances within the organization and their rights to alternative remedy if they are not fully satisfied with the response of the Company to their complaints.

• All complaints to be dealt with efficiently and fairly as otherwise they can damage our reputation and business.

• Our employees would work in good faith and without prejudice to the interests of the customer.

2. Modes of receiving grievances

Customer Service channels

Customers can share their concern by calling the Customer Care Number +91 8287212984 or write to our email ID care@padmalayafinserve.com mentioned on the website www.padmalayafinserve.com

Registered Office

Padmalaya Finserve Private Limited operates a digital-first lending model and does not maintain a physical branch network. Customers who wish to raise a grievance in writing or in person may do so at the Company’s Registered Office set out below:

Padmalaya Finserve Private Limited, Building 115, Sunday Hub, Amba Talavadi Road, Katargam, Surat, Gujarat – 395004, India

All grievances received through any channel (telephonic, electronic, written, or in person) are logged and tracked centrally by the Customer Support / Grievance Redressal team to resolution within the timelines set out in this Policy.

Website

Customers can find the details of various service touch points on the “Contact Us” section on the website www.padmalayafinserve.com

For the business originated by Lending Service Provider (LSP) and Digital Lending Applications (DLA), a link to the Company’s website shall be provided on the websites of Lending Service Provider(s) and Digital Lending Apps, enabling borrowers / customers to reach out to the Company for grievance redressal in case the resolution provided by the LSP / DLA is not satisfactory.

The details of lending partners, where applicable, shall be made available on the Company’s website.

3. Redressal process

Customers are advised to write to us on our email ID care@padmalayafinserve.com or call us on Customer Care Number +91 8287212984 for their queries, requests and complaints.

The Customer Support team is the first point of contact for customers and shall communicate with the complainant(s) as required. Where a query or complaint cannot be resolved at this stage, it shall be escalated internally to the Grievance Redressal Officer (GRO) for resolution.

The grievance redressal mechanism of the Company will also deal with grievances relating to services provided by the call centre(s), LSP, DLA partnered with the Company and other outsourced arrangements.

If any resolution of complaint needs additional time, the Company will inform the customer / regulator for the reasons of delay in resolution and provide expected timelines for resolution of the issue.

4. Principal Nodal Officer 

The Principal Nodal Officer/Grievance Redressal Officer can be contacted for all matters related to customer grievances and will liaise with the regulator. All grievances shall be brought to his / her notice by the officials concerned. The contact details of the Grievance Redressal / Principal Nodal Officer are as follows:

Name: Kundan Kumar

Padmalaya Finserve Private Limited

Building 115, Sunday Hub, Amba Talavadi Road, Katargam, Surat, Gujarat – 395004, India

Email id: Kundan@padmalayafinserve.com

Contact Number: +91 8287212972

The grievance handling mechanism shall be governed as per the Master Direction - Reserve Bank of India (Internal Ombudsman for Regulated Entities) Directions, 2023. The Company shall maintain a separate framework that outlines the Standard Operating Procedures (SOP) for the Internal Ombudsman, where applicable.

5. Grievance Redressal Procedure

At Padmalaya Finserve Private Limited, it is our endeavor to provide the best in customer service. All our products, services and policies are built around the core value of customer centricity. There can be instances where customers are not satisfied with the services provided. To highlight such instances and register a complaint, please follow the below mentioned process:

Level 1: Customer Support

The customer may raise his / her complaint through the Customer Care Number or by email or by meeting the Branch Operations Manager / Branch Manager / Asst. Branch Manager / Relationship Manager, as applicable. The complaint will be actioned as soon as it is received.

Level 2: Grievance Redressal Officer (GRO)

If the customer is not satisfied with the resolution provided, or his / her query is not resolved within 10 days, the customer may escalate by writing to the Grievance Redressal Officer (GRO):

Name: Kundan Kumar

Padmalaya Finserve Private Limited

Building 115, Sunday Hub, Amba Talavadi Road, Katargam, Surat, Gujarat – 395004, India

Email id: Kundan@padmalayafinserve.com

Contact Number: +91 8287212972

Level 3: RBI Ombudsman

In case of non-addressal of complaint to the customer’s satisfaction within a period of 30 days, the customer may approach the RBI Ombudsman Office by lodging a complaint online at the given link https://cms.rbi.org.in or may write to the below mentioned address:

Centralised Receipt and Processing Centre,

Reserve Bank of India, 4th Floor, Sector 17, Chandigarh – 160017

Toll Free No. 14448

6. Review

The Grievance Committee of Padmalaya Finserve Private Limited reporting to the Board will periodically review the policy and functioning of the grievance redressal mechanism. The Company will abide by all guidelines, directives, instructions and advices of Reserve Bank of India as will be in force from time to time. The contents in this document shall be read in conjunction with these guidelines, directives, instructions and advices.