Grievance Redressal Policy
Nigania Finance Private Limited ("the Company", "we", "us") resolves complaints promptly, fairly and free of charge. This policy explains how to complain, how a complaint is escalated, the time within which we will reply, and how to approach the RBI Ombudsman. It is framed under the Reserve Bank of India's directions on grievance redressal for NBFCs, the Reserve Bank — Integrated Ombudsman Scheme, 2021, and the RBI (Digital Lending) Directions.
It covers every loan we make, including loans sourced and serviced on our behalf by a Digital Lending App or Lending Service Provider. A complaint about the conduct of an LSP or its agents is a complaint against us, and we are responsible for resolving it.
1. Levels of redressal
| Level | Contact | Reply within |
|---|---|---|
| Level 1 The app you borrowed through |
Paisa Promise (operated for us by CoinEdge Fintech Private Limited) support@paisapromise.com 011-4780 7710 Its Grievance Redressal Officer: Mr. Raj Kumar Luthra, grievances@paisapromise.com |
Acknowledged within 48 hours; resolved within 7 working days |
| Level 2 Our Grievance Redressal Officer |
Mr. Ankur Jain grievance@nigania.co.in 011-4780 7710 |
Acknowledged within 3 working days; final reply within 30 days of receipt |
| Level 3 RBI Ombudsman |
Reserve Bank — Integrated Ombudsman Scheme, 2021 (see section 4) | As set by the Scheme |
A borrower may go directly to Level 2 at any time, and need not complete Level 1 first. If a Level 1 complaint is not resolved within 7 working days, or the borrower is not satisfied with the reply, it may be escalated to Level 2.
2. Grievance Redressal Officer
Nigania Finance Private Limited
E-mail: grievance@nigania.co.in
Phone: 011-4780 7710
Post: A-1/118, 2nd Floor, Safdarjung Enclave, New Delhi, Delhi 110029
The Grievance Redressal Officer also handles complaints relating to digital lending, including complaints about the Paisa Promise app and CoinEdge Fintech Private Limited.
3. How a complaint is handled
- Every complaint is recorded and given a reference number, which is sent to the borrower with the acknowledgement.
- The complaint is examined on the basis of our records, the loan agreement and the KFS, and, where an LSP is involved, its records as well.
- The borrower receives a written reply stating the outcome and the reasons for it. Where the complaint is rejected wholly or in part, the reply tells the borrower that they may approach the RBI Ombudsman, and how.
- Where a complaint shows that we were at fault, we correct the error, reverse any charge wrongly levied, and correct any credit information we reported.
What to include
- your name and registered mobile number;
- your loan reference number, if you have one;
- what happened, with dates and amounts; and
- copies of any messages, receipts or screenshots that support the complaint.
4. RBI Ombudsman
If we do not reply within 30 days of receiving your complaint, or you are not satisfied with our reply, you may complain to the RBI Ombudsman free of charge under the Reserve Bank — Integrated Ombudsman Scheme, 2021. A complaint to the Ombudsman must be made within one year of receiving our reply, or within one year and 30 days of making the complaint if no reply was received.
- Online: cms.rbi.org.in
- E-mail: crpc@rbi.org.in
- Toll-free: 14448
- Post: Centralised Receipt and Processing Centre, Reserve Bank of India, 4th Floor, Sector 17, Chandigarh 160017
5. Display and awareness
The name and contact details of our Grievance Redressal Officer are published on this website, in the KFS of every loan, and in the app through which the loan was sourced. They, and the salient features of the Integrated Ombudsman Scheme, are also displayed at our registered office.
6. Review
The Board of Directors approves this policy. It reviews this policy, and the number, nature and resolution of complaints received, at least once a year, and uses that review to correct the causes of recurring complaints.