Redressal Policy

POLICY FOR REDRESSAL OF GRIEVANCE OF CUSTOMERS/MEMBERS OF THE BANK

GRIEVANCE REDRESSAL MECHANISM

Bank’s Customer Grievance Redressal Policy is a reflection of its commitment towards customer satisfaction and value addition. This policy document aims at minimizing instances of customer complaints through proper products / service delivery and review mechanism and to ensure prompt redressal of customer complaints. Effective grievance redress should be an integral part of the business strategy of the bank since focussed attention to customer service and grievance redress will ensure satisfactory customer outcomes and greater customer confidence.

Keeping in view ultimate goal of the Bank to provide prompt, cordial and efficient services which will help in achieving maximum customer satisfaction, retain the customer base and attract many more customers in future and to align with guidelines of Reserve Bank of India, the Bank has reviewed its Grievance Redressal Mechanism to provide proper delivery channel for addressing & resolving the grievances of the customers in a time bound manner based on following fundamentals:

  • All customers will be treated equal all the times;
  • All grievances pointed out by customers will be taken up efficiently & in a time bound manner;
  • All customers will have opportunity to place their grievances to higher authorities within the Bank and they will have the right to alternative remedies if their expectations are not fully met by the bank in response to their grievances;
  • All employees will provide impartial customer service in good faith to the esteemed customers of the Bank;
  • Reputation and business of the Bank is at stake if grievances are not resolved fairly & promptly.

OBJECTIVE OF THE POLICY: This Customer Grievance Redressal Policy lays down a uniform complaint redressal framework to be followed across the bank while handling and resolving customer complaints. It highlights the process set by the bank based on RBI guidelines for timely and satisfactory resolution of all customer grievances.

The policy also informs our customers about various channels through which they can reach out to the Bank for sharing their concerns or unpleasant experiences and alternate avenues available with them for grievance redressal.

This policy document will be made available at all branches of the Bank and employees will be made aware of the complaint handling process.

Grounds of complaint:

  1. ATM/Debit Cards
  2. Internet/Mobile Banking
  3. Account opening/difficulty in operation of accounts
  4. Loans & advances
  5. Recovery of loans
  6. Locker operations
  7. Levy of various charges/excessive charges/foreclosure charges
  8. Cheques/drafts/bills
  9. Bank guarantees
  10. Exchange of coins, issuance/acceptance of small denomination notes & coins
  11. Exchange of mutilated notes
  12. Non observance of Fair Practice Code
  13. Facilities/amenities for customers/sr.citizens/differently abled
  14. Behaviour of staff
  15. Non-adherence of prescribed working hours
  16. Others

Although Customer Service and Experience has always been the most important value for the Bank yet, there may sometimes arise situations where customer’s expectations are not met leading to customer dissatisfaction and grievances. In any case, if a customer has any complaint about the working of the bank the same shall be dealt with amicably and instantly by the concerned member of the staff as far as possible. However, if the branch failed to resolve the matter to the satisfaction of customer and he/she can always register his/her complaint.

Key Elements of the Policy:

Mandatory Display requirements 

  • May I Help you Counter: “May I help you” internal signage is displayed at the counter nearest to the entrance of the branches to guide the customers properly regarding Bank’s various procedures, schemes, products etc. All our branches have a “May I help you” counter and it is manned by an experienced official with capabilities to correctly guide the customer.
  • Name, telephone number, email ID of the authorized officials of the Bank, who could be contacted for redressal of grievances of customers is prominently displayed at all branches of the Bank;
  • A complaint book on the prescribed format (in triplicate) shall also be kept with the Manager / senior official at all the branches of the Bank. First copy of the set is to be kept with the branch while second and third copies are meant for the complainant and Head Office respectively.
  • A complaint box shall also be made available at all branches of the Bank which shall be opened by the authorized officials on weekly basis. Requisite records are to be kept in a register and prompt action is taken by the bank/branch to resolve the issue, if any.

Lodgement of complaint:

  1. Customers may also choose to register their complaints by sending email at ipbank@ipbankonline.com for general queries and complaints. Complaints received through email shall be acknowledged and resolved in a time bound manner depending upon the nature of complaint.
  2. Customers can also submit their grievances by post to the Bank at its branches and Head Office. All efforts will be made to resolve the customers’ concerns/complaints in a time bound manner. The reply to the customer in such cases will be sent after discussion/replies from the concerned branches.
  3. For complaints, additional information & assistance related to Debit Card/Internet Banking/Mobile Banking, customer may contact our Customer Care No. 9625300213. IT team specializes in resolving complaints related to digital products.

Interaction with customers:

Bank recognizes the importance of customer experience and value their feedback and suggestions. As such, Customer meet shall also be organized every month to seek feedback and suggestions for making improvements in the working of the branch/bank. Regular rapport with the customers help us understand their expectations to ensure customer friendly environment. Feedback received from the customers is evaluated and help in revising products and services to meet requirements.

Credit Information Bureaus

The Bank will update the credit status immediately but not later than 30 days on repayment of overdue. Bank will report closure of loan to CICs within 30 days of the event. If customer’s loan account has been in default, but thereafter regularized, Bank will update this information with the CICs in the next report. If there is partial / delayed / any settlement of credit dues, it will impact customer’s credit score. In case of dispute about the information provided to the CICs, Bank will resolve the matter by satisfactorily explaining the reasons for reporting to CICs. Bank, on request, will inform the customer of the details of the CIC(s) to whom the information regarding the credit / loan facility is submitted

Grievance Redressal Mechanism

  • The entire grievance redressal mechanism is built around principles of transparency, accessibility, escalation and customer education.
  • Complaints if any, received from the customers are to be acknowledged by the Manager or authorized official of the bank/branch.
  • Branch Manager will be responsible for the resolution of the complaints/grievances in respect of customer service rendered by the Branch. It is his/her foremost duty to see that the complaint should be resolved completely to the customer’s satisfaction and if the customer is not satisfied, then he shall be provided with alternate avenues to peruse the issue, if the same is not resolved within the stipulated period.
  • All such complaints received by the Bank/branch are to be resolved amicably to the satisfaction of the aggrieved customer within a maximum period of 15 days under advice to Head Office.

Escalation Matrix & TAT

  1. In case, the branch has not been able to redress the grievance to the satisfaction of the customer, the same shall be forwarded to Head Office along-with entire correspondence exchanged between branch and complainant, details of efforts made by the branch and reasons for non-satisfaction & views in the matter.
  2. A complaint register shall also be maintained which shall contain details of complaints received, if any, action taken (redressal) and its closure. Details of complaints received, if any, shall also be informed to Head Office on quarterly basis.

Resolution of grievances at Head Office level:

  1. On receipt of such complaints at Head Office, the Chief Executive Officer of the Bank shall initiate necessary action for redressal of the same and ensure that it is resolved within a period of maximum of one month.
  2. In case, grievance of the customer / member still remains unresolved, the matter shall be placed before the Board of Directors for their consideration. The Board of Directors shall consider the redressal/resolve the matter within a period of maximum three months.
  3. Complaints received, if any, related to updation of credit information with CICs shall be submitted / forwarded to Head Office immediately for taking up the issue with CICs at Head Office level for resolution of the grievance.
  4. A Complaint redressal letter shall be sent to the complainant from Head Office and branch officials are advised to take necessary action in deficient areas.
  5. Grievances if any, shall also be closely monitored by the senior officials of the Bank on their visit to branches and Con-current auditors of the Bank shall also inspect records of the branches/Head Office during the course of inspection.

Office of the Banking Ombudsman: Over the years, the Reserve Bank of India has taken various initiatives for improving customer service and grievance redress mechanism in banks and in the process issued various guidelines on various aspects of banking operations that may impact customers. Banking Ombudsman Scheme was introduced to serve as an alternate grievance redress mechanism for customer complaints against banks besides Complaint Management System (CMS), a fully automated process-flow based platform, available 24×7 for customers to lodge their complaints with the Banking Ombudsman.

To make the alternate dispute redress mechanism simpler and more responsive to the customers of entities regulated by it, Reserve Bank of India, w.e.f. November 12, 2021, integrated the existing Ombudsman schemes. The Integrated Scheme covers all Commercial Banks, Region Rural Banks, Scheduled Primary (Urban) Co-operative Banks and Non-Scheduled Primary (Urban) Co-operative Banks with deposit size of Rs.50 crores and above as on the date of the audited balance sheet of the previous financial year.

Notice to this effect that the Bank is covered under Banking Ombudsman Scheme shall be updated on website of the Bank.

The Scheme: Any customer aggrieved by an act or omission of a Regulated Entity resulting in deficiency in service may file a complaint under the scheme personally or through an authorized representative as defined under clause 3(1)(c).

A complaint under the Scheme shall not lie unless:

  • The complaint is made to the Ombudsman within one year after the complainant has received the reply from the Regulated Entity to the complainant or, where no reply is received, within one year and 30 days from the date of the complaint.
  • The complaint was rejected wholly or partly by the Regulated Entity and the complainant is not satisfied with the reply; or the complainant had not received any reply within 30 days after the Regulated Entity received the complaint; and
  • The complainant had, before making a complaint under the Scheme, made a written complaint to the Regulated Entity concerned and
  • The complaint is not in respect of the same cause of action which is already –
  • 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;
  • Pending before any Court, Tribunal or Arbitrator or any other Forum or Authority; or, settled or dealt with on merits, by any Court, Tribunal, 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.
  1. The complaint is not abusive or frivolous or vexatious in nature;
  2. The complaint to the Regulated Entity was made before the expiry of the period of limitation prescribed under the Limitation Act, 1963 for such claims;
  3. The complainant provides complete information as specified in clause 11 of the Scheme; and
  4. The complaint is lodged by the complainant personally or through an authorised representative other than an advocate unless the advocate is the aggrieved person.

ATM failed transactions: In terms of Reserve Bank of India guidelines, any wrongful debit in the customers’ account on account of ATM failed transactions shall be reversed within 07 days from the date of receipt of complaint from the customer failing which a penalty of Rs.100/- per day beyond five calendar days from the date of failed ATM transaction shall be credited to the customer’s account along-with the disputed amount. Any customer is entitled to receive such compensation for delay, if a claim is lodged with the issuing bank within 30 days of the date of transaction. And if the customer prefers the complaint after 30 days but within 60 days, the claim will be settled without compensation through Dispute Management System of the Bank.

The claim preferred after 60 days but within 120 days, known as good faith claim, is settled through NPCI. All disputes regarding ATM failed transactions shall be settled by the issuing bank and the acquiring bank through National Payment Corporation of India only. No bilateral settlement arrangement outside the dispute resolution mechanism available with the system provider is permissible.

Net Banking: As per cyber security graded approach guidelines, the bank falls under level-II since the bank has extended “view only” facilities so far as net banking is concerned. Grievances related to the following shall be redressed by the IT team at Head Office of the Bank:

  • For availing Net Banking facility ( User creation )
  • Reset of Login password (In such cases where the customer is not able to reset the login password online using the option available in Net Banking home page)
  • Unlock (In such cases where the customer is not able to reset the login password online using the option available in Net Banking home page)
  • Reset of Login (other than online) and Transaction password
  • Modification of details like address, Mobile number and e-mail Id
  • Activation of Net Banking facility

All other grievances such as non-receipt of password PIN mailer and any Net Banking issues will be resolved by IT officials at Head Office.

Staff training:

The Bank provides comprehensive training to its employees from time to time. Staff members are sensitized on excellent customer service at the counters and briefed on RBI guidelines on grievance redressal.

Review of complaints:

We understand the fact that periodic review of complaints provides valuable insights regarding problem areas related to quality of customer service, products, policies and overall gap between customer’s expectations and actual service provided. Hence, complaints received through various sources are regularly evaluated and analysed to decide corrective measures and design future plan of actions. The quality of Customer Service rendered by the Bank is examined periodically and a note placed before the Board every six months.

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