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  1. Preamble

    2. Under the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018, the overall responsibility of the Point of Presence for redressal of subscriber grievances shall be as provided under the PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 or any amendments thereof or any guidelines issued by the PFRDA.

    Accordingly, Finzoomers Services Private Limited (“Company”), being a registered Point of Presence under PFRDA (Point of Presence) Regulations, 2018 has prepared and adopted this grievance redressal policy with an objective of establishing a robust and transparent mechanism for addressing and resolving grievances of subscribers associated with the Company within stipulated timelines and to ensure that the subscribers’ complaints / grievances are handled effectively and prudently, taking into consideration the regulatory timelines and redressal mechanisms.

  2. Definition

    1. Act: It shall refer to the Pension Fund Regulatory and Development Authority Acts, 2013
    2. “Grievances or complaint”: It includes any communication that expresses dissatisfaction, in respect of the conduct or any act of omission or commission or deficiency of service on the part of, an intermediary or an entity or a person governed by the provisions of the Pension Fund Regulatory and Development Authority Acts, 2013 and in the nature of seeking a remedial action but do not include the following:
      • complaints that are incomplete or not specific in nature.
      • communications in the nature of offering suggestions.
      • communications seeking guidance or explanation.
      • complaints which are beyond the powers and functions of the Authority or beyond the provisions of the Act and the rules and regulations framed there under.
      • any disputes between intermediaries; and
      • complaints that are sub-judice (cases which are under consideration by a court of law or quasi-judicial body) except matters within the exclusive domain of the Authority under the provisions of the Act.
    3. “Complainant”: means any person who lodges a complaint in accordance with the Regulations.
    4. “Enquiry” or “an enquiry”: means any communication from a subscriber for the primary purpose of requesting information about the National Pension System or any other pension scheme regulated by the Authority.
    5. “Request”: means any communication from a subscriber soliciting a service from an intermediary under the National Pension System or an entity or a person governed by the provisions of the PFRDA Act, 2013.
    6. “Regulations”: means Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015 and other applicable regulations, circulars read along-with amendments from time to time.
    7. “Subscriber” shall have the meaning as per clause (t) of sub-section (1) of section 2 of the PFRDA Act.
    8. “Date of receipt of complaint”: The first day on which the complaint has been received by the Company.

    3. Please note: In this policy, the term Subscriber, Customer have been used interchangeably and shall be considered to have the same meaning.

  3. Grievance Handling Mechanism

    4. Subscribers have a right to seek redressal of grievances in respect of the services offered by the Company. All grievances received by the Company will be responded to with the final decision of the Company within the prescribed regulatory timeline of 30 days of its receipt.

    The subscriber needs to follow the procedures as mentioned below to raise their complaint with the Company.

    Channel of Communication/Raising complaints:

    The complainant can raise grievances through the following modes:

    • Customer Support section: If a Subscriber has any grievance / complaint, the Subscriber can approach the Subscriber Support via the “Customer Support” tab in the INDmoney mobile application; or
    • Email: The subscriber may write to npssupport@indmoney.com. Please ensure to send the email through your registered email id only; or
    • Letter: Subscriber may raise the grievance by writing us to the following address

      • Address: Finzoomers Services Private Limited,

      624-625,6th Floor, Suncity Success Tower,

      Golf Course Extension Road, Sector-65,

      Gurugram-122005

    • Central Grievance Management System (CGMS) under NPS: Any subscriber of NPS can raise a complaint through the CGMS using the login and password provided by Central Recordkeeping Agency to Subscriber.

    Registration of Grievances / Complaint and acknowledgement of the same:

    Grievances received by the Company through registered email or letter or received directly from CGMS shall be registered with the Company.

    The subscriber shall be provided with a unique grievance number (“UGN”) for future reference for grievance registered. The subscriber shall use this UGN for all the future correspondences/ references.

    An acknowledgement email/ letter shall be sent to the Subscriber within three working days of the receipt of the Grievance/ Complaint.

    The acknowledgement shall contain the following:

    • Date of receipt of Grievance/ Complaint,
    • Unique Grievance Number,
    • Expected date for resolution of grievance,
    • Name, Designation and contact details of Officer handling the Grievance/ Complaint,
    • Grievance/ Complaint escalation matrix
    • Manner & mode of tracking status of resolution of Grievance/ Complaint with UGN

    The date of sending the acknowledgement to the complainant shall be updated in CGMS platform. If the complaint is addressed within 3 working days from the date of receipt of Grievance/ Complaint, the final communication will also act as the acknowledgment of the complaint.

    In case the Grievance/ Complaint received does not pertain to the Company, the complaint will be transferred to the concerned intermediary within three working days, under intimation to the complainant.

    Redressal of Grievances and Turnaround time (“TAT”)

    • The complaint letter / email should contain the PRAN/ Application number/ other relevant reference number, Complainant’s name, address and contact details, copies of supporting documents, wherever applicable.
    • If the grievance is resolved within three working days, the resolution shall be communicated along with the acknowledgement to the complainant.
    • The turnaround time (TAT) for final resolution would be 30 days as per the regulations. A written intimation shall be sent to the subscribers which offers redressal of the grievance or rejection of the complaint recording the reason for the same.

    Escalation matrix

    1. Within the Company:

      2. Level 1: Subscribers can reach out to us with their grievance/complaint either through customer support tab on mobile application or by sending us an email to npssupport@indmoney.com

      Level 2: In case the user has not received any response or is not satisfied with the response received, they can reach out to our Grievance Redressal Officer (“GRO”), details of which are mentioned below:

      Name: Mrinal Ranjan

      Email id: npsescalations@indmoney.com

      Contact Details: 07948224607

      Level 3: If a subscriber feels that their complaint has not been satisfactorily addressed by the GRO, they can approach the ‘Compliance Officer’ of the Company for redressal of their grievances by communicating its concerns / complaint to pop@indmoney.com

    2. Escalation to National Pension System Trust (“NPS Trust”)

      3. Any Subscriber whose Grievance/ Complaint has not been resolved within thirty days from the date of its receipt or the Subscriber is not satisfied with the resolution provided by the Company, they may reach out to NPS Trust for resolution of their grievance. In such case, NPS Trust shall follow up the Grievance/ Complaint with Company for redressal of the Subscriber Grievance and shall call for the resolution of the Subscriber Grievance/ Complaint and respond to the Subscriber within thirty days from the date of the receipt of Grievance/ Complaint.

    3. Appeal to Ombudsman

      4. Any Subscriber whose Grievance/ Complaint has not been resolved within thirty days from the date of submission of the Grievance/ Complaint to the NPS Trust or the Subscriber is not satisfied with the resolution provided by the NPS Trust shall prefer an appeal to the Ombudsman against Company.

      The details of the Ombudsman:

      Shri Narender Kumar Bhola
      Pension Fund Regulatory and Development Authority
      B-14/A, Chatrapati Shivaji Bhawan,
      Qutab Institutional Area, Katwaria Sarai, New Delhi- 110016
      Chhatrapati Shivaji Bhawan,
      Email Id: ombudsman@pfrda.org.in
      Landline No.: 011 - 26517507 Ext: 188

      The user can also refer to www.pfrda.org.in for further information.

    Closure of Grievance

    The Grievance/ Complaint shall be considered as disposed off and closed in any in the following cases:

    • The Company has acceded to the request of the complainant fully.
    • Where the complainant has indicated in writing, it’s acceptance of the response as received from the Company.
    • The complainant has not responded within 45 days of receipt of the written response from the Company.
    • GRO has certified to the Subscriber that the Company has discharged its contractual, statutory, and regulatory obligations and therefore closes the Complaint.
    • statutory, and regulatory obligations and therefore closes the Complaint. Where the complainant has not preferred any appeal within 45 days from the date of receipt of resolution or rejection of the Grievance/ Complaint communication by the Company.
    • Where the decision of the Ombudsman in appeal has been communicated to the complainant.

    Provided that the closure shall not be applicable where the Ombudsman or the Authority, as the case may have allowed filing of the appeal, beyond the specified period.

    Maintenance of records: All the records of each complaint as received by us shall be recorded in our internal system along with the redressal/ decision provided. The records shall be duly always updated and shall be managed internally by a Grievance Redressal officer.

    Review of Policy

    This policy has been approved by the Board of Directors of the Company and will be reviewed as and when need arises and in any case annually.

    The Policy would be available on the Company’s website.