Karn Securities Private Limited (the “Company”), is a Non-Banking Financial Company registered with Reserve Bank of India having the registered office situated at (Unit No AN 103 and AN 103A, First Floor D Mall, Plot No. A1, Netaji Subash Palace, Saraswati Vihar, North West Delhi, India, 110034. In terms of the RBI Master Directions – Non-Banking Financial Company (Scale Based Regulation) Directions, as amended from time to time (“Directions”), every Non-Banking Financial Company under section 45-IA of the Reserve Bank of India Act, 1934 (“RBI Act”). It is essential that grievances of the customers are given due consideration and quick action is taken to resolve the same. To provide efficient and enhanced services to the customers and resolution of their grievances, the Company has adopted this Grievance Redressal Policy providing for an effective Grievance Redressal Mechanism.
The Company is committed to ensure transparency and fair dealings. Complaints arising out of actions of recovery agents, outsourcing partners, or digital lending service providers shall also be covered under this policy. Objectives of this policy are as follows:
The Board of Directors of the Company have appointed a Grievance Redressal Officer (GRO), who shall be responsible for overall functioning of the Grievance Redressal Mechanism of the Company as prescribed by Integrated Ombudsman Scheme (“IOS”). The Grievance Redressal Officer shall also be responsible to address grievances escalated to him / her and for ensuring prompt and efficient functioning of grievances redressal mechanism.
Any customer having grievance / complaint / feedback with respect to the service offered by the Company, may write to the Company’s Customer Service Department in the following manner:
If a customer is not satisfied with the resolution provided by the Company in the specified period above, the customer can escalate the issue as prescribed in the below escalation matrix:
| First Escalation | Customer Care | Phone: +91-8796552820 Email: info@karnsecurities.com | If the issue is not resolved within 10 days of raising the issue, the customer shall raise the issue with the Grievance Officer. |
| Second Escalation | Grievance Officer | Name: Ms. Saman Luqman Bilgrami Phone: +91: 8796552825 Email: grievance@karnsecurities.com | If the issue is not resolved within 10 working days of raising the issue, the customer shall raise the further issue with the Nodal Officer |
| Third Escalation | Nodal Officer | Name: Mr. Nitin Garg Phone: +91: 8810265477 Email: nodal@karnsecurities.com | The issue shall be resolved within 30 days from the date of receipt of the grievance. |
If the grievance is not resolved within 30 days or the customer is dissatisfied with the resolution, the customer may approach the Reserve Bank of India under the RBI Integrated Ombudsman Scheme, as applicable.
The Grievance Redressal Policy shall be displayed on the Company’s website and made available at all branches / points of customer interface.
The Company shall ensure that customers are made aware of the grievance redressal mechanism at the time of onboarding and through periodic communication.
Customers shall have the right to:
The Company shall ensure that all complaints are handled in a fair, transparent, and noncoercive manner. Customers shall not be subjected to any harassment, intimidation, or unfair practices during the grievance redressal process.
The Company shall maintain proper records of all complaints received, including details of the complaint, action taken, resolution provided, and timelines for closure. Such records shall be preserved in accordance with applicable regulatory requirements and shall be made available for audit and regulatory inspection
A summary of customer complaints, including the number of complaints received, resolved, pending, and key trends, shall be placed before the Board of Directors or a designated committee at periodic intervals for review and oversight.
In case of digital lending, the Company shall ensure that borrowers are provided with clear and accessible channels for raising grievances through digital platforms. Complaints relating to digital lending, including those involving Lending Service Providers (LSPs), shall be resolved in accordance with RBI Digital Lending Guidelines.
All complaints and related customer information shall be handled with strict confidentiality and shall be used solely for the purpose of grievance redressal, in accordance with applicable data protection laws and regulatory guidelines.
The Board shall review and amend this policy as and when required.
If at any point a conflict of interpretation / information between the policy and any regulations, rules, guidelines, notification, clarifications, circulars, master circulars/ directions issued by relevant authorities (“Regulatory Provisions”) arises, then interpretation of the Regulatory Provisions shall prevail.
In case of any amendment(s) and/or clarification(s) to the Regulatory Provisions, the policy shall stand amended accordingly from the effective date specified as per the Regulatory Provisions.