Study on Customer Grievance Redressal Mechanisms Within NBFC-MFI industry

Type: 
RFP
Location of Job: 
Gurgaon, India
Posted: 
09 Jan 2018
Closing: 
23 Jan 2018
About the organization: 

Microfinance Institutions Network (MFIN) is the Self-Regulatory Organization (SRO) for the Non Banking Financial Company (NBFC) - Microfinance Institution (MFI) sector recognized by the Reserve Bank of India (RBI). Under its SRO mandate, MFIN’s endeavor is to support and ensure that its member NBFC-MFIs conform to highest standards of compliances with respect to RBI regulations, Industry Code of Conduct (CoC) and other directives issued by the SRO from time to time.

Currently 47 MFIN member NBFC-MFIs, provide micro-credit to over 2 Cr low-income women customers with a total outstanding of INR 37,000 Cr. Delivery of micro-credit is channeled in a highly-disaggregated model consisting of 10,000 branches and 65,000 loan officers in more than 500 districts across 30 states/UTs.

About the Job: 

Given their educational-social-economic background, customers of the NBFC-MFIs are quite susceptible to being misinformed, swayed and exploited in the process. And, therefore, an independent system linking customer to the management of the NBFC-MFI is essential to ensure that their voice is heard, and their interests are protected.

In this context, Customer Grievance Redressal Mechanism (CGRM) has emerged as an important tool for the NBFC-MFIs to make a stronger connect their customer to address their queries, concerns and complaints and also get insights about their needs, requirements and expectations from the NBFC-MFI. This among other things helps the NBFC-MFI to improve their processes, services and internal controls.

CGRM has been recognized by the RBI and the SRO integral to customer satisfaction and protection. And over the years, NBFC-MFIs have put-in efforts to set-up CGRMs and improvise them.

Building and learning from the experience of member NBFC-MFIs, MFIN in 2015 developed a ‘3-level Progressive Framework’ on the CGRM that has nine broad parameters and 17 indicators. This framework provides an assessment tool to NBFC-MFIs to assess their CGRM across a three-tier structure and guide them to gradually move to the highest level based on their capacity and resources. At that time, 40-member NBFC-MFIs were graded across three-tiers and good practices were captured in a study report shared with the members.

In order to capture the changes and new developments in CGRM framework of NBFC-MFIs in last couple of years, MFIN plans to conduct another review study.

Study Objective:

  • Arrive at updated ‘three-level CGRM progressive Framework’ which can serve as a standard industry tool to grade CGRM framework of NBFC-MFIs;
  • Assess NBFC-MFIs using this framework to understand industry position vis a vis CGRM framework;
  • Suggest standards for categorization of customer calls (queries, service requests, complaints, bucketing of complaints) and Turnaround Time (TATs) as should be applicable in different complaint scenarios;
  • Capture good practices, short comings, challenges, gaps;
  • Suggest actions (for NBFC-MFIs and MFIN) for improvements.

Scope of Work:

  • Review and update the existing "Three Level Progressive Framework"
  • Grade participating NBFC-MFIs on updated ‘’Three Level Progressive framework” through on-line survey;
  • Capture the current CGRM framework followed by NBFC-MFIs through an on-line survey complemented through field visits/phone calls to get a nuanced perspective and feedback on various aspects of GRM;
  • Prepare a study report, capturing:
    1. An updated thee-level progressive CGRM framework;
    2. Industry position based on three-level progressive CGRM framework;
    3. Good practices, challenges, shortcomings/gaps;
    4. Suggestion for actions (for NBFC-MFIs and MFIN) to improve further.

Timelines:

  • Phase 1: Review of existing framework for updated version - 2 weeks;
  • Phase 2: Conduct on-line survey/face to face or on-line interactions - 4 weeks;
  • Phase 3: Prepare the study report and grading report for individual NBFC-MFI - 2 weeks.
How to Apply: 

Please send in your Bids to [email protected] and [email protected] with "Proposal for study on CGRM framework of NBFC-MFI" in the subject line. The short-listed companies may be required to make a presentation at MFIN’s office in Gurgaon.

The bid should be submitted in two parts:

  1. Technical Bid: The technical bid should include proposed methodology, approach and outcome of the study. Previous experience in the related work area and brief CV of the key personnel proposed to be associated with this assignment should be attached;
  2. Commercial Bid:  The commercial should include a detailed break-up of different components including personnel costs, person days, travels/logistics, administrative expenses etc.

It may be noted that Commercial Bids will be evaluated only after technical qualification.

Region: 
South Asia
Country: 
India