Important : Loans originated, booked and serviced by Aditya Birla Housing Finance Limited and all loans at the sole discretion of Aditya Birla Housing Finance Limited.

Misselling Policy

Overview

In the present competitive scenario, clear customer communication by Sales Executives and DSAs is an important tool for sustained business growth. Our Relationship Managers/DSAs play a pivotal role in selling our products. Proper communication to the customer is critical towards adhering to the Treating Customer Fairly (TCF) principles; keeping this in mind, we have created a structured misselling mechanism to help reduce instances of misselling.

Applicability

This policy applies to all Sales Executives/ Sales Managers (SM) of Aditya Birla Housing Finance (ABHFL) and all DSAs, channel partners affiliated with ABHFL.

Complaint Assessment

All complaints will be assessed based on Customer inputs/sales /service / others feedback towards the DSA/SM as applicable. Based on the frequency of complaint, this will be evaluated by the committee for validity as defined below.

Complaints that are received at our end will be seen in the right perspective and would be analyzed from all possible angles. Decision once reached, will be communicated to the DSA/Sales Executive and in case the executive still has an issue on the same, he can raise it to the Chief Business Officer or Head – Risk / Head - Compliance for further review. Decision once taken by this team will be considered final.

Complaints that require some time for examination of issues involved will be acknowledged promptly.

Misselling Grid

The below grid is the guideline to be followed but basis severity / frequency or any other parameter as decided by the stakeholders, the penalty levied can be upgraded to as high as deemed necessary:

Misselling Penalty Grid for Aditya Birla Housing Finance Employees
Level
No. of Instances
Penalty
Issued by
Issued to
Decision Authority
One
1st instance of false promise from the Sales Executive
Warning letter to be issued & Rs. 10,000/-* penalty to be levied to Sales executive.
      HR
Sourcing Staff
Zonal Business Head, Zonal Risk Head, HR, Chief Manager - SG
Two
2nd instance of false promise from the same Sales Executive
Warning letter to be issued & Rs. 10,000/-* penalty to be levied to Sales executive. Fraud Control Unit will investigate the matter.
      HR
Sourcing Staff
Zonal Business Head, Zonal Risk Head, HR, Chief Manager - SG
Three
3rd instance of false promise from the same Sales Executive
The executive will be terminated and commission paid/ to be paid on the said case to be recovered/not included in the incentive. Fraud Control Unit will investigate the matter.
      HR
Sourcing Staff
Zonal Business Head, Zonal Risk Head, HR, Chief Manager - SG

If penalty levied to be deducted is more than commission/incentives earned in the current month, the Zonal Head can use his/her discretion to deduct the differential amount as and when further commission is accrued in future.

The above grid is the guideline to be followed but basis severity / frequency or any other parameter as decided by the stakeholders, the penalty levied is subject to decision of the committee.
 
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