Salient Features of the Ombudsman Scheme for Non-Banking Financial Companies, 2018

Scheme covers the customers of:

All deposit taking NBFCs NBFCs with asset size of more than or equal to ₹ 100 crores and customer interface. (Excluding: Infrastructure Finance Companies, Core Investment Companies, Infrastructure Debt Fund and NBFCs under liquidation)

Grounds for filing a complaint by a customer:

Any person may file a complaint with the Ombudsman having jurisdiction, on any one of the following grounds alleging deficiency in services:

  • a) non-payment or inordinate delay in the payment of interest on deposits;
  • b) non-adherence to the Reserve Bank directives, if any, applicable to rate of interest on deposits;
  • c) non-repayment or inordinate delay in the repayment of deposits;
  • d) non-presentation or inordinate delay in the presentation of post-dated cheques provided by the customer;
  • e) failure to convey in writing, the amount of loan sanctioned along with terms and conditions including annualised rate of interest and method of application thereof;
  • f) failure or refusal to provide sanction letter/ terms and conditions of sanction in vernacular language or a language as understood by the borrower;
  • g) failure or refusal to provide adequate notice on proposed changes being made in sanctioned terms and conditions in vernacular language as understood by the borrower;
  • h) failure or inordinate delay in releasing the securities documents to the borrower on repayment of all dues;
  • i) levying of charges without adequate prior notice to the borrower/ customer;
  • j) failure to provide legally enforceable built-in repossession clause in the contract/ loan agreement;
  • k) failure to ensure transparency in the contract/ loan agreement regarding:

    i. notice period before taking possession of security;

    ii. circumstances under which the notice period can be waived;

    iii. the procedure for taking possession of the security;

    iv. a provision regarding final chance to be given to the borrower for repayment of loan before the sale/ auction of the security;

    v. the procedure for giving repossession to the borrower and

    vi. the procedure for sale/ auction of the security;

  • l) non-observance of directions issued by Reserve Bank to the non-banking financial companies;
  • m) non-adherence to any of the other provisions of Reserve Bank Guidelines on Fair Practices Code for Non-Banking Financial Companies.

How can a customer file a complaint?

Step 1 – Written representation to the NBFC concerned.

Step2–AttheendofonemonthifnoreplyisreceivedbythecustomerfromtheNBFCorthecustomer remains dissatisfied with the reply of the NBFC and if the customer has not approached any forum, thecustomercanfileacomplaintwithNBFCOmbudsmannotlaterthanoneyearfromafterthereply fromNBFC.

How does Ombudsman take decision?

Proceedings before Ombudsman are summary in nature. Promotes settlement through conciliation. If not reached, can issue Award/Order.

Can a customer appeal, if not satisfied with decision of Ombudsman?

Yes, If Ombudsman’s decision is appealable. Appellate Authority: Deputy Governor, RBI. This is an Alternate Dispute Resolution mechanism. The Customer is at liberty to approach any other court/forum/authority for the redressal at any stage.

In terms of the RBI Ombudsman Scheme 2018, the detail of Company’s Nodal Officer is given below:
Name: Laxmi Sridhar, Manager & CFO
Telephone: 044 45650037

Address and Area of Operation of NBFC Ombudsman

SN Centre Address of the Office of NBFC Ombudsman Area of Operation
1 Chennai C/o Reserve Bank of India Fort Glacis,
Chennai 600 001
STD Code: 044
Telephone No : 25395964
Fax No : 25395488
Email :
Click here to lodge a complaint
Tamil Nadu, Andaman and Nicobar Islands, Karnataka, Andhra Pradesh, Telangana, Kerala, Union Territory of Lakshadweep and Union Territory of Puducherry.
2 Mumbai C/o Reserve Bank of India RBI Byculla Office Building Opp.
Mumbai Central Railway Station Byculla,
Mumbai-400 008
STD Code: 022
Telephone No : 23028140
Fax No : 23022024
Email :
Click here to lodge a complaint
Maharashtra, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, Union Territories of Dadra and Nagar Haveli, Daman and Diu.
3 New Delhi C/o Reserve Bank of India Sansad Marg New Delhi -110001
STD Code: 011
Telephone No: 23724856
Fax No : 23725218-19
Email :
Click here to lodge a complaint
Delhi, Uttar Pradesh, Uttarakhand, Haryana, Punjab, Union Territory of Chandigarh Himachal Pradesh, and Rajasthan and State of Jammu and Kashmir.
4 Kolkata C/o Reserve Bank of India 15,
Netaji Subhash Road Kolkata-700 001 STD Code: 033
Telephone No : 22304982
Fax No : 22305899
Email :
Click here to lodge a complaint
West Bengal, Sikkim, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Bihar andJharkhand.
Click here to lodge a complaint


Aptus Finance India Private Limited is a Non-Banking Financial Company, registered with Reserve Bank of India. Aptus Finance has been promoted with a primary purpose of meeting the financing requirements of small business entrepreneurs. Aptus in Latin means ‘appropriate’, suitable’. We make an effort to understand the fact that every customer is unique and so is their work environment. We feel it is absolutely necessary not to treat them as homogenous group of borrowers but appreciate the individual customers and offer finance solutions that are appropriate and suitable in scale and ambition to them.

Corporate Social Responsibility (Csr)

Aptus Finance is committed towards social welfare of the common people as it caters the financing needs of informal segment of customers, belonging to middle income, primarily from semi urban and rural markets. The Company shall seek to positively impact the lives of the disadvantaged by supporting and engaging in activities that aim to improve their wellbeing.

Csr Activities

The company shall undertake following CSR activities as listed in Schedule VII and Section 135 of the Companies Act, 2013 and the Rules framed thereunder.

  1. eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;
  2. promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
  3. promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
  4. ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund setup by the Central Government for rejuvenation of river Ganga;
  5. protection of National Heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;
  6. measure for the benefit of armed force veterans, war widows and their dependents;
  7. training to promote rural sports, nationally recognized sports, Paralympic sports and Olympics sports;
  8. contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Schedule Tribes, other backward classes, minorities and women;
  9. Contribution to incubators funded by Central Government or State Government or any agency or Public Sector Undertaking of Central Government or State Government, and contributions to public funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies (established under the auspices of Indian Council of Agricultural Research (ICAR), Indian Council of Medical Research (ICMR), Council of Scientific and Industrial Research (CSIR), Department of Atomic Energy (DAE), Defence Research and Development Organisation (DRDO), Department of Biotechnology (DBT) Defence Research and Development Organisation (DRDO), Department of Science and Technology (DST), Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs);
  10. rural development projects.
  11. slum area development.
  12. disaster management, including relief, rehabilitation and reconstruction activities.
  13. Such other activities and projects covered in Schedule VII to the Companies Act, 2013 from time to time.

  14. Modalities And Implementation Schedule For Execution Of Projects Or Programs Or Csr Activities

    The Company will undertake its CSR activities either directly or through a Registered Trust or through a Registered Society or establish another company under Section 8 of the Companies Act, 2013 or even to collaborate with other entities. The implementation Schedule for CSR activities will be dependent on the availability of eligible projects.


    The Company shall endeavour to spend, in every financial year at least 2% of the average net profits of the Company made during the 3 immediately preceding financial years towards CSR expenditure.

    For this purpose, "average net profit" shall be calculated in accordance with provisions of Section 198 of the Companies Act, 2013, after deducting there from the dividends that may be received from companies in India which are covered under and complying with the provisions of Sec 135 of the Companies Act 2013.

    The Company will give preference to the local area(s) in and around the offices of the Company in India. The Company may use the CSR capacities of their own personnel in executing the CSR activities and also effectively monitoring the same but such CSR expenditure shall not exceed 5% of total CSR expenditure of the company in one financial year.

    Monitoring And Reporting

    The CSR Committee will oversee the implementation and monitoring of all CSR projects/ programmes/Activities and reports shall be provided for review to the Board as and when necessary.

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