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
Misselling/Fraud Penalty Grid for DSA, Channel Partner
Level
No. of Instances
Penalty
Issued by
Issued to
Decision Authority
One
1st instance of false promise reported against the DSA / Channel partner/ Instance of Fraud
Cautionary letter to be issued to DSA Principal, financial penalty to be decided by the committee
Sales Governance Team
Service Provider Principal
Zonal Business Head, Zonal Risk Head, Chief Manager - SG
Two
2nd instance of false promise reported against any DSA / channel partners/ Instance of Fraud
Cautionary letter issued to the Principal, payout for the said file not be paid/ amount to be recovered as per the decision of the committee. Additional penalty can be levied basis the decision of committee.
Sales Governance Team
Service Provider Principal
Zonal Business Head, Zonal Risk Head, Chief Manager - SG
Three
3rd instance of false promise reported against any DSA / channel partners/ Instance of Fraud
Termination notice will be issued to the DSA.
Sales Governance Team
Service Provider Principal
Zonal Business Head, Zonal Risk Head, Chief Manager - SG

If multiple complaints with respect to mis-selling are received within the first 6 months of any channel empanelment, the channel may be terminated by Sales Governance team at that instance itself in concurrence with the committee.

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.

Information Sharing

All cases of misselling will be kept on record by Fraud Control Unit. A list of negative/blacklisted DSAs/FOS/SMs/Referral Partners will be kept ready for de-dupe.

Customer Remedy

After a decision has been made, appropriate measures will be taken by the company to help remedy any/or all operational losses incurred. This will be done post approval from CBO/Head Risk as required.

Complaint redressal policy as defined and uploaded on our website can be referred to for approach mechanism.

The aforesaid policy will be revised as and when there are any new changes incorporated by ABHFL in handling complaints / grievances of the customer which includes introduction of new grievance channels, if any.

Communication Guidelines

It is imperative that in all communications being sent to the potential clients and partners, the same must only contain standard product features as defined / mentioned in the communication templates as circulated by the product and marketing team only.

Any alteration to such communication soliciting sale needs to be approved by central team (i.e. Products & Marketing) before roll out.

Any deviations to this may be considered for strict punitive action based on evaluation by the CBO and / or Head Risk / Head Compliance / HR

 
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