COMPOSITION OF THE BOARD
The Board has a strength of seven Directors. The Board comprises of Non- Executive Chairman, three Independent Directors (including Chairman), two nominee Directors, a Non- Executive Director and a Managing Director. The Non-Executive Chairman and Independent Directors bring strategic and independent judgment in the board's deliberation and decisions.
The Directors have wide experience in the field of Banking, Finance, Business Development, Taxation, Business Advisory, Audit and Risk Management.
The Composition of Board is as follows:
Sr. No. |
Names of Board members |
Designations |
|
Mr. Balakrishnan Krishnamurthy |
Chairman and Independent Director |
|
Mr. Anil Kothuri |
Managing Director & CEO |
|
Ms. Gauri Rushabh Shah |
Independent Director |
|
Mr. P.R Seshadri |
Independent Director (Additional Director) |
|
Mr. Shyam Srinivasan |
Non- Executive Director |
|
Mr. Maninder Singh Juneja |
Nominee Director |
|
Mr. Ashutosh Khajuria |
Nominee Director |
COMPOSITION OF VARIOUS BOARD COMMITTEES:
AUDIT COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Ms. Gauri Rushabh Shah |
Chairperson |
|
Mr. Balakrishnan Krishnamurthy |
Member |
|
Mr. Ashutosh Khajuria |
Member |
|
Mr. P. R. Seshadri |
Member |
NOMINATION AND REMUNERATION COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Ms. Gauri Rushabh Shah |
Chairman |
|
Mr. Balakrishnan Krishnamurthy |
Member |
|
Mr. Shyam Srinivasan |
Member |
|
Mr. Maninder Singh Juneja |
Member |
|
Mr. P.R. Seshadri |
Member |
RISK MANAGEMENT COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Mr. P.R. Seshadri |
Chairman |
|
Mr. Balakrishnan Krishnamurthy |
Member |
|
Ms. Gauri Rushabh Shah |
Member |
|
Mr. Ashutosh Khajuria |
Member |
|
Mr. Maninder Singh Juneja |
Member |
|
Mr. Anil Kothuri |
Member |
|
Mr. Shardul Kadam |
Member |
|
Mr. C.V. Ganesh |
Member |
|
Mr. K. Siddharth |
Member |
IT STRATEGY COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Ms. Gauri Rushabh Shah |
Chairperson |
|
Mr. Anil Kothuri |
Member |
|
Mr. P. R Seshadri |
Member |
|
Mr. K. Siddharth |
Member |
|
Mr. Maninder Singh Juneja |
Member |
|
Mr. Dhrumil Dalal |
Member |
|
Mr. Dinesh Singh |
Member |
CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Ms. Gauri Rushabh Shah |
Chairperson |
|
Mr. Shyam Srinivasan |
Member |
|
Mr. Anil Kothuri |
Member |
STAKEHOLDERS RELATIONSHIP COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Mr. P. R Seshadri |
Chairman |
|
Mr. Balakrishnan Krishnamurthy |
Member |
|
Ms. Gauri Rushabh Shah |
Member |
|
Mr. Anil Kothuri |
Member |
CAPITAL RAISING COMMITTEE
Sr. No. |
Names of Committee members |
Designation |
|
Mr. Balakrishnan Krishnamurthy |
Chairman |
|
Ms. Gauri Rushabh Shah |
Member |
|
Mr. Ashutosh Khajuria |
Member |
|
Mr. Maninder Singh Juneja |
Member |
|
Mr. Anil Kothuri |
Member |
|
Mr. P.R Seshadri |
Member |
COMMITTEE OF DIRECTORS (OPERATIONS)
Sr. No. |
Names of Committee members |
Designation |
|
Mr. Balakrishnan Krishnamurthy |
Chairman |
|
Ms. Gauri Rushabh Shah |
Member |
|
Mr. Ashutosh Khajuria |
Member |
|
Mr. Anil Kothuri |
Member |
NOMINATION & REMUNERATION POLICY
POLICY AGAINST SEXUAL HARASSMENT
POLICY FOR PRESERVATION OF DOCUMENTS
INTERNAL GUIDELINES ON CORPORATE GOVERNANCE
ENTERPRISE RISK MANAGEMENT POLICY
POLICY FOR DETERMINATION OF MATERIALITY
POLICY FOR EVALUATION OF PERFORMANCE OF BOARD OF DIRECTORS
POLICY FOR FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS
POLICY TO PROMOTE DIVERSITY OF BOARD OF DIRECTORS
POLICY ON RELATED PARTY TRANSACTIONS
CODE OF PRACTICES AND PROCEDURES FOR FAIR DISCLOSURE OF UNPUBLISHED PRICE SENSITIVE INFORMATION
Interest rate being charged is based on various factors like cost of funds, margin, risk premium, un-allocable expenses among other things. As far as risk premium is concerned, it will be based on variables like Profile, underlying security, tenure, other terms and conditions etc.
Asset Liability Committee (ALCO) has been authorised by Board for the purpose of laying out appropriate internal principles and procedures in determining interest rates and other charges. ALCO comprises of Head of the organization along with relevant head of the departments. ALCO has product pricing as one of the responsibilities among other things authorised by Board.
The Board of Directors of the Company or a Committee drawing power from the Board, while fixing interest rates shall be guided by this document on Interest Rate Determination. In addition to basic cost elements, the Board or the Committee shall be guided by the market conditions and various rules and regulations, if any, prescribed by the Reserve Bank of India or such other competent authority from time to time.
Interest charged for various products / Schemes shall have the following components:
1 Base Rate
3. Penalty Charges
1 Cost of Funds
2 Overhead Cost
3 Return on Capital Employed
1. TITLE, COMMENCEMENT & EXTENT
The Reserve Bank of India, vide circular dated November 15, 2021 advised the NBFC to appoint IO (IO). The Internal Ombudsman (IO) will be working as an independent authority to review complaints that are partly or wholly rejected by FEDFINA.(NBFC) Hereinafter referred to as the NBFC
2. OBJECTIVES OF THE SCHEME
a. To ensure that all complaints, which are rejected or partially accepted by Fedbank Financial Services Ltd (“Fedfina”), are examined by the IO so that escalation of grievances to RBI Ombudsman (BO) at RBI are minimized.
b. To enhance customer confidence in Fedfina grievance redressal system, thereby making it more transparent and acceptable without diluting the TAT.
c. To enable customer grievances to be considered by an independent authority, other than NBFC officials. The presence of IO at the apex level of Grievance Redressal Mechanism of the NBFC would help in establishing the neutrality the mechanism, as the grievance resolution would have to pass through an independent person before submission to the RBI Ombudsman.
3. ESCALATION OF GRIEVANCES TO IO
The grievance escalation matrix of the NBFC is as follows, where- in the customer can approach the NBFC officials from Level 1 to Level 3
Level 1 (The first point for immediate redressal of grievance)
Level 2 – Nodal Officer
Zone | Name | Email Address |
South | Agnoor Goud | agnoor.goud@fedfina.com |
West | Ibrahim Shaikh | ibrahim.shaikh@fedfina.com |
North | Gurkirpal Singh Kathuria | gurkirpal.kathuria@fedfina.com |
Level 3– Principal Nodal Officer
Level 4 – IO
Level 5- RBI Ombudsman
4. POWER, JURISDICTION AND REPORTING
4.1 IO shall not handle complaints received directly from the customers or members public.
4.2 The IO will deal only with the complaints that have already been examined by the NBFC’s Internal Grievance Redressal mechanism and which have remained partly or wholly unredressed.
4.3 All cases, wherein Fedfina decides to reject the complaint or provides only partial relief to the complainant would be forwarded to IO for further examination and final decision. All such complaints will be escalated to IO within three weeks of receipt of complaint, before conveying the final decision to the complainant within a period of 30 days, from the receipt of complaint except following:
4.4 The IO shall periodically analyze the pattern of complaints such as product / category wise, consumer groups wise, based on geographical location, etc. and suggest means for taking actions to address the root cause of complaints of different nature.
4.5 The IO shall examine the complaints on the basis of records/ documents available with the NBFC and comments / clarifications furnished by the NBFC to specific queries of the IO.
4.6 The IO may hold meetings with concerned functionaries/ departments of the NBFC and seek any record / document available with the NBFC that is necessary for examining the complaint. To ensure resolution through conciliation, the IO may seek direct feedback / clarifications from the complainant.
4.7 In, cases of conciliation, where the decision of the IO is accepted by the complainant, the IO shall obtain and keep on record, a statement showing the terms of the agreement duly signed by the complainant.
4.8 The IO shall not represent Fedfina in legal cases arising out of complaints examined by Fedfina or the IO.
4.9 The IO shall report to the Managing Director / General Manager of Fedfina handling customer grievances.
4.10 The IO shall immediately refer back to Fedfina all such complaints which are outside the purview of the Scheme.
4.11 The contact details of I.O. will not be provided in the public domain, as the I.O. shall not entertain and examine FIRST RESORT complaints, which need to be first examined by Fedfina Internal Grievance Redressal Mechanism. In case the I.O. happens to receive FIRST RESORT complaints, he/she shall forward such complaints to Fedfina Internal Grievance Redressal functionary.
4.12 The I.O. shall exercise general powers of superintendence and control over his office and shall be responsible for the conduct of business there at.
4.13 Fedfina shall examine the grievances as per its Internal Grievance Redressal Mechanism and in case Fedfina decides to reject or to provide only partial relief to the complainant, it should invariably forward such cases to the I.O. for further examination. The advice to the complainant after examination by I.O. in such cases should necessarily have a clause that the grievance has also been examined by the I.O.
4.14 Fedfina shall internally escalate all such complaints to IO, before conveying the final decision to the complainant within a period of three weeks, from the receipt of complaint.
4.15 The I.O. shall have the right to access Fedfina records relating to the complaints received, seek detailed comments from Fedfina with regard to the complaints, can hold meetings with the functionaries/departments concerned and can also meet the complainants, if required, while examining the complaint for redress. Fedfina will furnish all records/documents sought by the I.O. to enable him/her to discharge his/her duties effectively and redress/resolve customer grievances expeditiously.
4.16 Fedfina shall provide read only access to the Complaint Management Application so that all complaints are accessible to the IO who shall follow up cases of delayed escalation with the concerned department in Fedfina. Fedfina shall also provide access to IO for adding his/her decisions on complaints escalated to the IO, in Fedfina's Complaint Management Application.
4.17 IO shall also have read-only access to the Reserve Bank's Complaints Management System to enable the IO to keep track of the cases forwarded by the Offices of RBI Ombudsman and the decisions by the RBI Ombudsman thereon, including the decision of the Appellate Authority, where applicable.
4.18 The I.O. shall maintain confidentiality of any information or document that may come into his knowledge or possession in the course of discharging his duties and shall not disclose such information or document to any person except with the consent of the person furnishing such information or document, provided that nothing in this clause shall prevent the I.O. from disclosing information or document furnished by a party in a complaint to the other party or parties to the extent considered by him to be reasonably required to comply with any legal requirement or the principles of natural justice and fair play in the proceedings.
4.19 The decision of the I.O. shall be binding on Fedfina and Fedfina is required to accept it. In case Fedfina disagrees with the decision of I.O., such cases should be reported to RBI by Fedfina with a copy to respective RBI Ombudsman. In such cases, the reply to the customer should also mention the fact though the IO has upheld the customer’s complaint, the NBFC, through its appropriate authority, has overruled the IO’s decision.
4.20 The reference made by Fedfina to I.O. for examination should emanate primarily from Fedfina’s Internal Grievance Redressal Machinery/ any other designated officials.
4.21 Fedfina’s Principal Nodal Officer or nodal officers or any other designated authority, liaising with offices of RBI Ombudsman, shall not act as I.O. or vice-versa even during the temporary absence of either.
4.22 The I.O. will submit a quarterly report of the cases escalated to him to the Board, which will exercise the oversight on the functioning of I.O. However, aspects relating to fraud, misappropriation etc. shall be reported to Audit Committee of the Board immediately.
4.23 The I.O. shall not represent Fedfina in legal cases arising out of complaints examined by him/her as he/she does not have operational role
5. OPERATING PROCEDURE
5.1 The I.O. shall take into account the evidence placed before him by the parties, the principles of banking law and practice, directions, instructions and guidelines issued by the Reserve Bank from time to time and such other factors which in his opinion are relevant to the complaint.
5.2 Fedfina shall, in their final reply to the complainant after obtaining IO's decision, explicitly mention that the complaint has been examined by Fedfina’s IO. Only under circumstances, where a resolution has been made by agreement and the IO had obtained the resolution in writing duly signed by the complainant and furnished to Fedfina for records, should a reply to the complainant be issued by IO with an endorsement to Fedfina.
5.3 In case of disagreement with the IO's decision, Fedfina may obtain approval of Managing Director/Chief Executive Officer and the reply forwarded to the complainant shall mention that the decision of Fedfina has the approval of Managing Director/Chief Executive Officer. All such cases shall be subsequently reviewed by the Audit Committee and the Board.
5.4 Where the complaints falling under RBI Ombudsman Scheme, are not resolved to the satisfaction of the complainant (i.e., partly or wholly rejected complaints) even after examination by IO, Fedfina shall necessarily advise the complainant that he/she can approach the RBI Ombudsman for redressal along with complete details and address of the RBI Ombudsman concerned as well as the link to Reserve Bank's portal (www.rbi.org.in -> Complaints -> RBI Ombudsman Scheme -> Complaint Form) for online filing of customer complaints.
5.5 The decision of the IO shall be mandatorily included in the information submitted by Fedfina to the RBI Ombudsman, while furnishing documents related to the complaints received in the office of the RBI Ombudsman.
5.6 In cases where the complainant has approached the RBI Ombudsman before the IO has examined the complaint, Fedfina should obtain the views of IO and include the IO's views in its submissions to RBI Ombudsman.
5.7 Fedfina shall use the analysis of complaints handled by IO in the training programmes/conferences to raise awareness, inter alia, about the patterns of complaints, among the frontline staff, and facilitate consistency in handling of similar complaints. The IO may also be associated for such trainings, where necessary.
5.8 While assessing the performance of the IO, in addition to the level of pendency and work done by the IO towards developing uniformity across Fedfina in the redressal of complaints, Fedfina should also keep in mind the number of cases where substantive differences are observed between the decisions of the IO vis-à-vis that given by the RBI ombudsman subsequently.
5.9 IO shall be placed in HO or any of the Regional Offices.
6. REPORTING TO RBI
6.1 Fedfina shall put in place a system of periodic reporting of information to RBI as indicated below:
7. OVERSIGHT
7.1 Board Oversight: The IO shall furnish periodical reports on his / her activities including the analysis to the Audit Committee and the Board, preferably at quarterly intervals, but not less than bi annually. Fedfina shall put in place a system for discussion of cases by the Audit Committee and the Board where the decision of the IO has been rejected by Fedfina, which is to be done with approval of Managing Director/Chief Executive Officer of Fedfina. The Audit Committee of the board can refer to the IO in respect of cases mentioned.
7.2 Audit: Fedfina shall conduct an internal audit of the implementation. The audit shall, inter alia, cover aspects relating to the infrastructure (space, information technology, human resources etc.) provided to the IO and implementation of auto escalation of partly or wholly rejected complaints to the IO within the timeframe of three weeks as indicated. Internal audit shall also look at the actions by the IO with regard to analysis of complaints, efforts made by IO and support provided by Fedfina towards raising awareness about types of grievances and developing uniformity of approach in handling of complaints across Fedfina. The scope of internal audit shall exclude the decisions taken by the IO.
2. Role, Duties, Responsibilities and Expectations
3. Time Commitment:
4. Remuneration:
5. Disclosure of Interest:
6. Confidentiality:
7. Governing Law
Fedbank Financial Services Limited-Ombudsman details
Ombudsman_Scheme_for_NBFCs-_2018
Levy of foreclosure charges/pre-payment penalty on Floating Rate Loans by NBFCs
Salient Features NBFC Ombudsman Scheme - English
Salient Features NBFC Ombudsman Scheme - Gujarati
Salient Features NBFC Ombudsman Scheme - Hindi
Salient Features NBFC Ombudsman Scheme - Kannad
Salient Features NBFC Ombudsman Scheme - Malayalam
Salient Features NBFC Ombudsman Scheme - Marathi
Mr. Sumit Kakkar, Nominee Director, resigned from the Board of Directors of the Company w.e.f. 13th March, 2020
Mr. Dilip Sadarangani, Independent Director, retired from the Board of Directors of the company w.e.f 8th September 2019
Mr. Ganesh Sankaran, Nominee Director, resigned from the Board of Directors of the company w.e.f 15th February 2019
Mr. Rajagopalan Santhanam, Nominee Director, resigned from the Board of Directors of the company w.e.f 20th December 2018
Mr. Suresh Kumar, Independent Director, resigned from the Board of Directors of the company w.e.f 19th June 2017.
Mr. Ujwal Thakar, Independent Director, resigned from the Board of Directors of the company w.e.f 5th August 2016.
Anil Kothuri-MD & CEO
C.V.Ganesh- Chief Financial Officer
S. Rajaraman- Company Secretary & Compliance officer
Anila Rajneesh
Jagadeesh Rao
K Sureshkumar
Ramachandra R
Shardul Kadam
K. Siddharth
Vikas Mohan Srivastava
Company has 3 Selling and Servicing Agents, which are as follows:
1. New Opportunity Consultancy Private Limited (NOCPL)
2. Svasti Microfinance Private Limited
3. Si Creva Capital Services Private Limited (Kissht)
DEBENTURE TRUSTEE OF FEDBANK FINANCIAL SERVICES LIMITED.
For Secured Non convertible Debentures & Subordinate debt – Non Convertible Debentures
IDBI Trusteeship Services Limited |
|
Address: |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra |
Email: |
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Tel: |
02240807000 |
For Principal Protected Market Linked Debentures -- Non Convertible Debentures
Beacon Trusteeship |
|
Address: |
4C & D Siddhivinayak Chambers, Gandhi Nagar, Opp MIG Cricket Club Bandra (East), Mumbai 400 051 |
Email: |
compliance1@beacontrustee.co.in |
Tel: |
022-26558759 |
Customer Education Literature on SMA/NPA
In case you are an Investor and need any information or data, write to |
|
Name: |
Mr. S. Rajaraman |
Address: |
Fedbank Financial Services Limited Kanakia Wall Street, A Wing, 5th Floor, Unit No.511, Andheri Kurla Road, Andheri (East) Mumbai -400093, Maharashtra |
Email: |
|
Tel: |
+91 022 68520601 |
Kindly mention your Name, PAN, DP ID and Client ID when you write to us. |
Link Intime India Private Limited |
|
Address: |
C 101, 247 Park, Lal Bahadur Shastri Marg , Vikhroli (West), Mumbai - 400 083, Maharashtra |
SEBI registration no |
INR000004058 |
Email: |
|
Tel: |
02249186200 |
Credit Rating for Secured NCD | ||
Rating Agency | Rating | Rating Date |
CARE Edge | CARE AA; Stable | December 27, 2022 |
Credit Rating for Subordinated Debt NCD & Secured Principal Protected-Market Linked Debentures- NCD | ||
Rating Agency | Rating | Rating Date |
India Ratings | IND AA- / Stable | December 20, 2022 |