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Prochesta Thrift and Credit Cooperative Society Asom Ltd. (Prochesta) is incorporated under Assam Co-operative Act 2007. The society is engaged in delivery of microfinance services to women SHGs of Assam. Commensurate with its size and operations the society has put in place a comprehensive system for client protection. Prochesta, being an important society and in compliance to the requirements of RBI has put in place a Grievance Redressal Mechanism (GRM).

Constituents of the Grievance Redressal Mechanism (GRM)

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Contact No.:

Prochesta has a contact number 03612963505, 0361-2660020 to complain over telephone. A person located at the head office is designated to receive and register the queries / grievances from borrowers and such are dispensed / resolved by appropriate authority on priority basis. Matters requiring immediate attention are escalated in the hierarchy of the appropriate authority and all complaints are simultaneously reported to the Grievance Redressal Committee (GRC). The Committee consolidates all such reports and forwards the same to the Board of Directors along with an action taken report. The contact number is printed in the passbook of all borrowers / clients of Prochesta.

 

Complain Register:

Complain / suggestion Register is made available at the disposal of borrowers at each branch office and also at the HO of the Society.

 

The contact number is also duly printed on the notice board of each branch. Proper filing of all complaints is duly done. A summary report of the same is prepared and sent to the head office on a monthly basis. Based on the precedence, the complaints are looked into and responded upon. Serious matters are escalated. The matters that assume importance are brought to the kind attention of the GRC - a 3 member independent and impartial committee for resolving the complaints in fair and transparent manner. The committee members are impartial and function independently for resolving the complaints in a fair and transparent manner. An action taken report is also presented to the Board.

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E-mail:

Any concern / complain / feedback can be directly sent via e-mail to Prochesta@hotmail.com and prochesta.mfi@gmail.com.

Like above, letters requiring immediate attention are escalated in the hierarchy of the appropriate authority and all complaints are simultaneously reported to the Grievance Redressal Committee which consolidates all such reports and forwards the same to the Board of Directors along with an action taken report.

 

Appraisal of the Grievance Redressal Mechanism (GRM)

Satisfaction studies:

Prochesta has an independent Research Cell that conducts surveys and undertakes studies on various topics. Client and staff satisfaction studies are undertaken on a yearly basis. These studies are incisive and bring out the reasons for the borrower grievances. These yearly studies are meaningful tools to understand the grievances of important stakeholders like our borrowers and staff.

 

Ratings:

Yearly grading is done by independent rating agencies of high repute. These rating exercise are quite detailed and comprehensive. Field visits are duly conducted by the rating team, this helps endorse the above described redressal system.

Apart from yearly grading, Prochesta also conducts Loan portfolio audit, Social rating and others at regular intervals which help to authenticate time-to-time the GRM.

 

Risk Management Committee:

All borrower specific grave issues arising out of the above mechanisms or those perceived as probable risks for the Society are brought to the notice of the Risk Management Committee. This Committee which meets on quarterly basis looks into the crucial matters and frames proactive policies in proper management of probable risks.

It has been very clearly discussed out in its policy that no misconduct / misbehavior will be endured. A detailed circular mentioning the same is circulated / distributed to all branches. In fact, all circulars relating to above are displayed on the notice board of each branch office. If any case of unethical practice or misbehavior is reported, then severe action is mandated by the appropriate authority. The borrower can use any of the above mechanisms to bring her grievance to the notice of the appropriate authority. These redressal mechanisms described above can be used not just by the borrowers, but also by staff and the community.