The Reserve Bank of India has made it mandatory that the aggregate exposure by an investor across all Peer to Peer Lending Platforms should be less than or equal to Rs. 10,00,000 and
the total exposure of a lender to a single borrower should be less than or equal to Rs. 50,000.

Grievance Redressal Mechanism


1. Introduction

This policy outlines a structured grievance redressal mechanism to inform customers about the channels available to them to escalate their complaints within MicroGraam Marketplace Private Limited (herein referred to as “MMPL” or “MicroGraam” or “the Company”) to obtain a resolution.

The Policy is drawn-up in compliance with the Reserve Bank of India (RBI) Master Directions for Non-Banking Financial Company - Peer to Peer Lending Platform Directions dated October 4, 2017 (as updated from time to time) and has been duly approved by the Company’s Board of Directors.

2. Purpose and Key commitments

The purpose of this policy is to ensure that all the customers are treated in a transparent and fair manner, all complaints raised by the customers are handled promptly and effectively in the promised timelines.

MicroGraam Shall:

  1. Ensure visibility and accessibility of complaint handling process to all complainants
  2. Provide access to grievance redressal policy to customer
  3. Handle Complaints professionally & in a transparent manner
  4. Ensure Objectivity in the complaint handling process
  5. Provide Prompt & Responsive Complaint Resolution to the Customers.
  6. Ensure confidentiality of Complainants information unless required for addressing the complaint
  7. Ensure clear accountability for resolution and reporting of complaints
  8. Ensure adherence to all relevant Regulatory & Statutory requirements as mandated by RBI and mentioned in the Grievance redressal policy
  9. Continually improve its processes & systems by taking inputs from customers, employees and other interested parties

3. Grievance Redressal Mechanism

Below are the steps which the customer needs to take for resolving his/ her grievances:

  1. Registration of complaints/ grievances – Since the company operates through a web-based P2P lending platform, as a first step, the customer/ participants shall lodge their grievances/ complaints through the online complaint form at www.micrograam.com. The customers may also register their complaint by sending an email to grievancecell@micrograam.com . The Company shall examine the complaint and shall respond to the customer in writing/ email/ phone within 7 working days, from the date of receipt of the complaint. The company shall also provide suitable justification in case the complaint resolution requires more than the time stipulated above.
  2. Addressing or handling of complaints – In case the customers are not satisfied with the response received, or in case where the customers have not received any response within 7 working days, then they shall reach out to the Grievance Redressal Officer of the company as mentioned below:

  3. Designation

    Grievance Redressal Officer (Mr. Krishnamurthy)

    Contact No.

    080-26585720 (The contact number have been allocated exclusively to the Grievance Cell Officer.
    Calls will be taken between 10.00 am to 5.00 pm on all working days and at the time of making such calls, clients need to provide details such as Customer ID, etc.))

    Email id

    krishnamurthy@micrograam.com


    After examining the matter, the Grievance Redressal Officer shall endeavor to respond or address the customer complaint within 7 working days of receipt of the complaint/ grievance.

  4. Escalation of complaints – If the complaint/ dispute is not redressed within a period of one month, the client may appeal to the Customer Education and Protection Department of the RBI.

4. Review of the Policy

The policy will be reviewed by the Board as and when required or at least annually to incorporate regulatory updates/changes, if any