How and where to file investor, consumer complaints

As an investor and at times as a consumer, you may be upset over a faulty product, mis-selling, fraud or deficiency in service. Here are the steps you need to follow to redress your grievance.

Product/Service
Step 1. Contact the customer care. Get a complaint ID number for a possible follow-up. Step 2. If you don’t get a satisfactory answer, talk to the superviser. Maintain a log of calls. If talking doesn’t help, send an e-mail to the company. Step 3. Approach NGOs. The National Consumer Helpline (1800-11-4000) and CORE (www.core.nic.in) website are useful. Complain to the ombudsman.

Stocks/Funds
Step 1. For delays, misselling or fraud, contact the investor service centre of the fund house or the company. Step 2. If unhappy, take it up with Sebi. You can do it via SCORES, its Web-based centralised grievance redressal system.
Visit http://scores.gov.in to register and track your complaint. Step 3 If you do not like the verdict, approach the consumer courts.

Banking
Step 1. For complaints on accounts, loan, credit card fraud or any other service, talk to the customer care department or grievance cell. Step 2. If unresolved within a month, approach any of the 15 banking ombudsmen, whose addresses and contact details are available on the RBI website. Step 3. If not satisfied with the settlement, file an appeal before the appellate authority—deputy governor of the RBI—within 30 days.

Real Estate
Step 1. In the absence of regulator, as a first step, write to the grievance cell of the real estate company. Step 2. If it doesn’t help, take up the issue with nodal bodies like CREDAI, NAREDCO and National Association of Realtors. If the matter relates to a group housing society, write to the registrar, Cooperative Housing Societies Federation.
Step 3. The final option is civil and consumer courts.

Insurance
Step 1. Your first stop is the customer care centre. Step 2. If it doesn’t help, go to the grievance redressal officer of its branch. The contact details of GROs are at www.policyholder.gov.in/Report.aspx#. Give your complaint in writing and take a receipt for your complaint. Step 3. Contact the Irda. You can call the toll-free number 1800-4254-732 or send an e-mail to complaints@irda.gov.in.
Telecom
Step 1. Call up the customer care centre. You can also do it in person, through SMS, e-mail, post or courier. Get a complaint number. Step 2. Send the complaint to the nodal officer in your circle. The list is on company websites. It should not take more than 10 days to redress the complaint. Step 3. If you are still not happy, go to appellate authority in your circle within three months.

(This article is a condensed version of one originally published on August 4, 2014, and may contain chronological references based on that date.)