Grievance Redressal Policy

1. PREAMBLE

This Grievance Redressal Policy (hereinafter referred to as the “Policy”) has been formulated and adopted by PROSPER PROFESSIONAL DEVELOPMENT LIFE PRIVATE LIMITED, a financial technology company incorporated under the provisions of the Companies Act, 2013, and operating under the brand name “Prosper”. Prosper provides digital financial services, payment facilitation services, agent and distributor network management, merchant services, and various fintech-enabled solutions in compliance with the regulatory framework prescribed by the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), and other applicable laws and regulations.

The purpose of this Policy is to establish a structured, transparent, and effective mechanism for handling complaints, grievances, disputes, and customer concerns arising from the use of Prosper products and services. The Company recognizes that an efficient grievance redressal system is essential for maintaining customer confidence, ensuring service excellence, protecting customer interests, and complying with applicable legal and regulatory requirements.

Prosper is committed to providing fair treatment to all customers, agents, distributors, merchants, and business partners while ensuring timely and satisfactory resolution of grievances.

2. SCOPE OF POLICY

This Policy shall apply to all products, services, and solutions offered, facilitated, or operated by Prosper, including but not limited to:

• Prepaid Payment Instruments (PPI) and Wallet Services.
• Gift Cards, Prepaid Cards, and Branded Voucher Solutions.
• Unified Payments Interface (UPI) Services.
• Mobile Recharge and Utility Payment Services.
• Bharat Bill Payment System (BBPS) Transactions.
• Aadhaar Enabled Payment System (AEPS) Services.
• Micro ATM Services.
• Loan and Credit Facilitation Services.
• Fixed Deposit (FD) and Investment Facilitation Services.
• Merchant Payment and Collection Services.
• Third-Party Merchant Transactions.
• E-commerce Payment Services.
• Travel, Hotel Booking, and Lifestyle Services.
• Rent Payment Services.
• Distributor, Agent, and Retailer Services.
• Any other digital financial or value-added services provided by Prosper.

All grievances, complaints, disputes, and concerns arising from or relating to the above services shall be governed by this Policy.

3. OBJECTIVES

The primary objectives of this Policy are:

• To establish a standardized and effective grievance redressal framework.
• To ensure fair, transparent, and timely handling of customer complaints.
• To maintain accountability at all levels of the organization.
• To comply with applicable regulatory and statutory requirements.
• To provide multiple channels for customers to raise complaints.
• To improve service quality through continuous monitoring and analysis.
• To protect customer interests and enhance customer satisfaction.
• To ensure transparency and accessibility in complaint resolution processes.

4. DEFINITIONS

5. GUIDING PRINCIPLES

Prosper shall adhere to the following principles while handling grievances:

6. TYPES OF GRIEVANCES COVERED

This Policy covers, but is not limited to, grievances relating to:

• Wallet recharge failures.
• Balance deductions without successful transactions.
• Payment processing failures or delays.
• Failed or delayed UPI transactions.
• Failed or delayed BBPS transactions.
• AEPS transaction disputes.
• Micro ATM transaction disputes.
• Card activation, usage, and cancellation issues.
• Merchant payment disputes.
• Loan disbursement or repayment discrepancies.
• Fixed Deposit processing concerns.
• Gift card and voucher redemption issues.
• Travel and hotel booking disputes.
• Rent payment disputes.
• Third-party merchant disputes.
• Duplicate transactions.
• Unauthorized transactions.
• Fraudulent transactions.
• Refund delays.
• Failed transaction reversals.
• Service quality complaints.
• Agent and distributor complaints.
• Any other service-related disputes.

7. GRIEVANCE REDRESSAL MECHANISM

8. UNAUTHORIZED TRANSACTION REPORTING

Customers who identify:

• Unauthorized transactions,
• Suspicious account activities,
• Fraudulent transactions,
• Cyber security incidents,

must immediately notify Prosper through:

• Mobile Application;
• Website;
• Email Support;
• Customer Care Channels.

Upon receipt of such complaints, Prosper may:

• Block affected accounts;
• Suspend transactions;
• Initiate internal investigations;
• Coordinate with banks and payment service providers.

Such complaints shall be handled in accordance with RBI guidelines relating to customer liability for unauthorized electronic transactions.

9. REFUND AND FAILED TRANSACTION POLICY

Refunds and reversals shall be processed in accordance with RBI and NPCI guidelines.

Standard Timelines:

Auto-reversals shall be processed wherever applicable.

10. BBPS GRIEVANCE REDRESSAL FRAMEWORK

For transactions processed under the Bharat Bill Payment System (BBPS):

• Prosper shall comply with NPCI BBPS operational guidelines.
• Complaints shall be recorded through the Complaint Management System (CMS).
• Real-time tracking shall be maintained.
• Audit trails shall be preserved.
• Automatic escalation shall occur if prescribed TAT is breached.

11. CONFIDENTIALITY AND DATA PROTECTION

All complaints, records, and customer information shall be maintained securely in accordance with:

• Information Technology Act, 2000;
• Digital Personal Data Protection Act, 2023;
• RBI Cyber Security Framework;
• Company Privacy Policy.

Access to grievance records shall be restricted to authorized personnel only.

12. MONITORING AND REVIEW

The Company’s Grievance Redressal Committee shall:

• Periodically review complaint statistics;
• Analyze complaint trends;
• Monitor service quality;
• Identify systemic issues;
• Recommend corrective measures.

Additionally:

• Internal audits shall be conducted every six months.
• Compliance reports shall be submitted to management and regulators wherever required.

13. COMPLIANCE STATEMENT

This Policy has been formulated in accordance with:

• Payment and Settlement Systems Act, 2007;
• RBI Master Directions on PPIs;
• RBI Customer Service Guidelines;
• RBI Grievance Redressal Framework;
• NPCI Operational Guidelines;
• BBPS Operational Procedures;
• Information Technology Act, 2000;
• Digital Personal Data Protection Act, 2023;
• Other applicable laws and regulations.

14. POLICY REVIEW AND AMENDMENTS

This Policy shall be reviewed:

• At least annually;
• Upon regulatory changes;
• Upon introduction of new products;
• Upon operational changes.

All amendments shall be approved by the Company’s Board of Directors or authorized management.

15. DISCLOSURE AND PUBLICATION

This Policy shall be:

• Published on the official website of Prosper;
• Available on the Prosper mobile application;
• Made available to customers upon request;
• Shared with regulators and authorities when required.

16. EFFECTIVE DATE

This Policy shall come into force with effect from:

Effective Date: 01 July 2026

This Policy shall remain effective until amended, revised, or withdrawn by the Company.