Detailed Overview of IndusInd Bank's Grievance Redressal Policy

IndusInd Bank has developed a Grievance Redressal Policy to ensure that customer complaints are resolved promptly, fairly, and transparently. The policy encompasses mechanisms for handling grievances related to banking, credit cards, microfinance, and third-party products while aligning with regulatory guidelines set by bodies like RBI, IRDAI, SEBI, and PFRDA.

Objectives of the Grievance Redressal Policy

1. Minimizing Complaints: By improving service delivery and addressing potential issues proactively.
2. Prompt Redressal: Establishing a mechanism to resolve customer grievances efficiently.
3. Policy Alignment: Ensuring adherence to guidelines set by regulatory authorities like the RBI and the Banking Codes and Standards Board of India (BCSBI).
4. Customer Empowerment: Informing customers about their rights and the escalation process.

Key Principles of the Policy

• All complaints are handled efficiently, fairly, and within a defined timeframe.
• Customers are informed about avenues for escalating grievances if not satisfied.
• A structured complaint resolution framework is implemented across all branches and services.

Internal Grievance Monitoring Mechanisms

1. Customer Service Committee of the Board (CSCB)

• Responsible for overseeing and improving customer service.
• Conducts surveys and audits to gauge customer satisfaction.
• Reviews the functioning of other committees to identify and address service gaps.

2. Standing Committee on Customer Service (SCCS)

• Ensures compliance with RBI’s customer service guidelines.
• Analyzes trends in complaints and suggests remedial actions.
• Reviews feedback from the Branch Level Customer Service Committees (BLCSC).

3. Branch Level Customer Service Committee (BLCSC)

• Meets monthly to review complaints, delays, and customer difficulties.
• Provides feedback to SCCS and identifies areas for service improvement.

4. Nodal Officer and Internal Ombudsman

Nodal Officer:

• Manages the implementation of customer service and complaint handling across the bank.
• Contact:
  • Ms. Dilnaz Sidhwa, Executive Vice President & Principal Nodal Officer
  • Tel: 022 6155 3705
  • Email: nodal.officer@indusind.com

Internal Ombudsman (IO):

• Independently reviews unresolved or partially resolved cases.
• Ensures a fair and unbiased final resolution for customers.

Grievance Redressal Process

1. Complaint Registration

• Channels:
  • Visit a branch and use the complaint register.
  • Contact the Branch Manager.
  • Call the helpline: 1860 267 7777 (India), +91 22 61553100 (International).
  • Email: reachus@indusind.com.
  • For NRI Customers: nri@indusind.com.
  • Submit complaints online via the Grievance Redressal Portal.

2. Escalation Levels

Level 1: Initial Resolution

• Branch Managers and Contact Centers are responsible for resolving complaints.

Level 2: Escalation to Head - Customer Care

• If unresolved within 7 working days, complaints can be escalated to:
  • Mr. Dickson Baptista, Head - Customer Care
  • Address: OPUS Center, 47, Central Road, Opp. Tunga Paradise Hotel MIDC, Andheri (East), Mumbai – 400093
  • Email: customercare@indusind.com.

Level 3: Escalation to Principal Nodal Officer

• Complaints unresolved at Level 2 can be escalated to:
  • Ms. Dilnaz Sidhwa, Principal Nodal Officer
  • Address: OPUS Center, 47, Central Road, Opp. Tunga Paradise Hotel MIDC, Andheri (East), Mumbai – 400093
  • Tel: 022 6155 3705
  • Email: nodal.officer@indusind.com.

Specialized Grievance Handling for Specific Customers

1. Banking Customers

• The Branch Manager handles initial grievances and escalates unresolved cases to higher authorities.

2. Credit Card Customers

• Cards Services Cell handles complaints and escalates unresolved issues to the Head - Cards Services or the Nodal Officer.

3. Microfinance Customers

• Contact centers handle complaints initially.
• Further escalations are directed to the Grievance Redressal Office or the Nodal Officer.

4. Indie-Millennial Customers

• Complaints are addressed through branch channels or escalated to the Head - Indie Customer Care.

5. Third-Party Product Customers

• Complaints related to products like insurance or mutual funds are managed by the Grievance Redressal Cell.

Resolution Timeframes

• Complaints are acknowledged upon receipt.
• The bank aims to resolve complaints within 7 working days.
• If unresolved, cases are escalated as per the prescribed hierarchy.

Alternative Grievance Redressal Avenues

1. Integrated Ombudsman Scheme, 2021

• Customers can approach the Banking Ombudsman if complaints remain unresolved for 30 days or if they are dissatisfied with the resolution.
• Contact Details:
  • Address: Centralised Receipt and Processing Centre (CRPC), RBI, 4th Floor, Sector 17, Chandigarh – 160017.
  • Online Portal: https://cms.rbi.org.in.
  • Toll-Free Helpline: 14448 (Available in Hindi, English, and 9 regional languages).

2. Consumer Protection Act, 1986

• Customers can escalate grievances to:
  • District Forum.
  • State Commission.
  • National Commission.

Displays and Customer Interaction

Branches display:

• Contact details of the Regional Nodal Officers and Banking Ombudsman.
• Complaint redressal mechanisms and feedback forms.

Customer Interaction Initiatives: