BETAFRONT SECURITIES (IFSC) PVT LTD. COMPLAINT HANDLING AND GRIEVANCE REDRESSAL POLICY

Last updated on 07-July-2025 Version: 1.0

This Complaint Handling and Grievance Redressal Policy ("Policy") outlines the principles and procedures adopted by Betafront Securities (IFSC) Pvt. Ltd. ("Betafront", "Belong" or the "Company") to ensure prompt, fair, and effective handling of complaints and redressal of grievances of retail consumers.

This Policy has been formulated in accordance with the requirements prescribed by the International Financial Services Centres Authority (IFSCA) under Circular No. F. No. IFSCA-LPRA/3/2024-Legal and Regulatory Affairs, dated December 02, 2024.

This Policy has been reviewed and approved by the Board of Directors of Betafront Securities (IFSC) Pvt. Ltd.

This Policy has been developed taking into account the nature, scale, complexity, and operations of Betafront as a regulated entity within the IFSC. It reflects the Company's commitment to a customer-centric philosophy, while ensuring compliance with applicable regulatory standards.

Betafront may implement or enhance an online complaint management system to ensure effective grievance handling. The decision to operationalize such a system will be based on the evolving needs of the business, regulatory guidance, and the scale of consumer interactions.

APPLICABILITY

This Policy applies to all retail consumers of Belong. It excludes complaints and grievances submitted by entities falling under the exemptions specified in Schedule-I of the IFSCA Circular dated December 02, 2024.

DEFINITIONS

"Complaint Redressal Officer or CRO" is an employee of the Company responsible for handling complaints received from its consumers.

"Complaint Redressal Appellate Officer or CRAO" is a senior level person of the Company designated for handling appeals of consumers against the decision taken by the Complaint Redressal Officer (CRO) of the Company.

"Professional Consumer" Includes Accredited Investors, professional clients (as defined under the IFSCA Banking Handbook), and Corporate Policy Holders.

"Complaint" means any oral or written expression of dissatisfaction by a consumer (or on their behalf) regarding a financial product, service, or staff of the Company acting as a broker dealer & distributor of capital markets products under IFSCA jurisdiction. To be valid, a complaint must relate to a product or service offered by the Company and must allege financial loss, material distress, or material inconvenience.

The following shall not be treated as valid complaints as specified under Schedule – I of IFSCA Circular dated December 02, 2024:

1. Anonymous complaints (except whistleblower complaints).

2.Incomplete or un-specific complaints.

3. Allegations without supporting documents.

4. Suggestions or seeking guidance/explanation.

5. Complaints on matters not relating to the financial products or services provided by the Regulated Entity.

6. Complaints about any unregistered/ un-regulated activity.

7. Seeking information or clarifications about financial products or services.

OBJECTIVE AND GUIDING PRINCIPLES

At Belong, customer satisfaction is central to our mission and operational philosophy. This Complaint Handling and Grievance Redressal Policy ("Policy") has been designed to provide a structured framework for the timely, fair, and effective resolution of consumer grievances, while fostering trust and transparency in our relationship with clients.

This Policy is guided by the following core principles:

(a) Customer-Centricity: All initiatives, procedures, and strategies implemented by Betafront are developed with the consumer's interests as the primary focus.

(b) Fair and Equitable Treatment: Every consumer shall be treated fairly, respectfully, and without bias, regardless of the nature or source of the grievance.

(c) Courtesy and Timeliness: All complaints shall be handled with professional courtesy, and the Company is committed to providing timely responses and resolutions.

(d) Integrity and Good Faith: All Betafront employees shall act with integrity, impartiality, and good faith in their interactions with consumers, ensuring that no grievance is addressed with prejudice or delay.

(e) Transparency and Escalation: Consumers shall be clearly informed of the channels available for escalation within the organization and shall be made aware of their rights in the event that their concerns are not resolved satisfactorily or within the defined timelines.

COMPLAINT HANDLING PROCEDURE

5.1 Receipt and Recording of Complaints

Betafront is committed to ensuring that all customer complaints are received, acknowledged, and recorded through accessible and transparent channels.

Complaints may be submitted by consumers through any of the following modes:

(i) Physical letters

(ii) Email

(iii) Telephone

(iv) In-person visits

Additionally, complaints may be received from external entities such as regulatory bodies, legal representatives, advocates, and consumer forums.

All complaints are centrally handled by the Customer Service Department – Level 1, at the Company's corporate office to ensure consistency, traceability, and accountability in grievance management.

For quick resolution, customers may contact Betafront through the following channels:

Customer Care (Weekdays: 9:00 AM – 7:00 PM IST) – Level 1

Phone: +91 70226 26790

Email: support@getbelong.com

Upon receipt of a complaint, the Customer Service Department shall record the following key details:

● Full contact information of the complainant

● Nature of the complaint and the relief sought

● Any supporting documentation or contextual information

5.2 Complaint Redressal Mechanism

(i) The Company endeavours to resolve complaints at the first point of contact, i.e., through its Customer Service Department, within 15 (fifteen) days of receipt.

(ii) In case a customer is dissatisfied with the response or if the complaint is not resolved within the defined timelines, the matter may be escalated to the Complaint Redressal Officer (CRO) - Level 2 - by writing to:

Level 2 Escalation

Prakash Chudasama

Complaint Redressal Officer (CRO)

Betafront Securities (IFSC) Pvt. Ltd.

Unit 147, Pragya Accelerator 2, Building 15B, Block 15, GIFT City, Gandhinagar, Gujarat, India 382355

Email: grievance@getbelong.com

(iii) The CRO shall endeavour to resolve or reject the complaint preferably within 15 days, and in exceptional cases, within 30 days from the date of receipt.

(iv) The combined turnaround time for resolution under Level 1 and Level 2 of the grievance redressal process shall not exceed 30 (thirty) days from the date of receipt of the complaint.

(v) Each complaint shall be reviewed on its individual merits. Upon:

(a) Acceptance: A written acknowledgment shall be issued within 3 working days.

(b) Rejection: A written intimation including specific reasons shall be provided within 5 working days.

(vi) Customers must reference their registered email ID, contact number, or relevant identifiers (e.g., application number, sanction/account number, complaint reference number) in all correspondence related to the grievance.

(vii) The CRO holds sufficient authority to make binding decisions and may consult relevant internal departments to facilitate resolution.

(viii) The CRO is expected to act with fairness, impartiality, and professionalism. Where the CRO has been involved in the subject matter of the complaint, an alternate impartial officer shall be designated to handle the case.

(ix) For complaints received via regulatory authorities, a ticketing mechanism is used to document, monitor, and resolve such grievances on an expedited basis.

(x) Anonymous complaints (excluding legitimate whistleblower complaints) shall not be addressed under this Policy.

(xi) The Company reserves the right to either resolve or reject a complaint. In cases of rejection, the reasons shall be communicated to the complainant in writing.

APPEAL MECHANISM / ESCALATION FRAMEWORK

6.1 Level 3 – Escalation to Complaint Redressal Appellate Officer (CRAO)

If a complainant is dissatisfied with the resolution provided by the Company or the Complaint Redressal Officer (CRO) at Level 2, or if the complaint has been explicitly rejected, the complainant may escalate the matter by filing an appeal with the Complaint Redressal Appellate Officer (CRAO) - Level 3 - within 21 (twenty-one) days from the date of receipt of the CRO's decision.

Upon receipt of an escalation, the Company shall:

● Acknowledge the appeal via email within 2 (two) working days.

● Provide a written resolution or closure response, including rationale for acceptance or rejection, within the prescribed timeframe of 30 days.

The Company has appointed the following senior official as the CRAO:

Level 3 Escalation

Mr. Ankur Choudhary

Director & Complaint Redressal Appellate Officer (CRAO)

Betafront Securities (IFSC) Pvt. Ltd.

Unit 147, Pragya Accelerator 2, Building 15B, Block 15, GIFT City, Gandhinagar, Gujarat, India 382355

Email: grievance-crao@getbelong.com

6.2 Escalation to the Regulatory Authority (IFSCA)

Where the complainant remains unsatisfied after exhausting the Company's internal escalation channels (Level 1, 2 & 3), they may lodge a complaint with the International Securities Centres Authority (IFSCA).

Such a complaint must be submitted within 21 (twenty-one) days from the date of receipt of the final response from the Company.

Regulatory Complaint Submission

Email: grievance-redressal@ifsca.gov.in

MAINTENANCE OF RECORDS

Belong shall maintain comprehensive and verifiable records for each complaint received and processed, in accordance with applicable regulatory and operational standards.

The following categories of records shall be maintained:

● Register of complaints received and processed

● All correspondence exchanged between the Company and the complainant

● Documentation, evidence, and information reviewed in the course of complaint handling

● Final resolution or outcome of each complaint

● Reasons provided in cases where complaints were rejected

● Aggregate data on all complaints handled by the Company, including those received via regulatory bodies

All such records shall be preserved in digitally retrievable formats and stored securely for a period of eight (8) years from the date of receipt of the complaint.

Provided that in case of any pending litigation relating to the complaint, the records shall be maintained for 8 (eight) years, after final disposal of the legal proceedings.

REPORTING AND DISCLOSURE

The Company is committed to maintaining transparency and accountability in its grievance redressal framework. The Company shall ensure the following disclosures at all its business locations and on its official website:

The Company shall submit periodic reports on complaint handling to the Authority (IFSCA) in the form, format, and frequency as prescribed by the Authority from time to time.

The name and contact details of the designated Complaint Redressal Officer (CRO) shall be prominently displayed for the benefit of consumers seeking redressal related to the Company's products and services.

ROLE OF THE COMPLIANCE OFFICER

The Compliance Officer of Betafront Securities (IFSC) Pvt. Ltd. shall be responsible for overseeing the Company's adherence to the regulatory framework governing complaint handling and grievance redressal. This includes:

● Ensuring that the receipt, processing, and resolution of consumer complaints are in full compliance with the applicable provisions and guidelines issued by the Authority (IFSCA);

● Monitoring the effective implementation of this Policy across all operational and reporting levels; and

● Facilitating internal audits, regulatory submissions, and corrective actions in case of any procedural deviations or non-compliance.

POLICY REVIEW AND REVISION

This Policy is subject to periodic review and revision in line with regulatory developments, industry best practices, and operational requirements.

The Company shall conduct regular assessments of both the Policy and the effectiveness of the grievance redressal mechanism at various levels of management. Based on such evaluations or in response to revised directives issued by the Authority (IFSCA) or any other competent authority, necessary amendments shall be made.

The Board of Directors of the company has the authority to approve and implement any changes, modifications, or enhancements to this Policy from time to time.

Global banking for NRIs - Made in India with ❤️

Betafront Financial Services (IFSC) Pvt. Ltd., a licensed PSP under IFSCA in GIFT City

IFSCA - PSP Authorisation No: IFSC/PSP/2025-26/003

Betafront Financial Services (IFSC) Pvt. Ltd., a licensed PSP under IFSCA in GIFT City

Broker: CMI2025BDK0829

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Distributor: IFSCA/CMI/Distributor/2025-26/0016

ISO/IEC 27001:2022 Certified

Partner Bank: RBL

Partner Bank: RBL

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About Belong

Who are we?

Belong is a one-stop financial app for NRIs to save and invest in India seamlessly via GIFT City

Our products and services

1. Mutual Fund: Tata India Dynamic Equity Fund is the first retail inbound mutual fund for NRIs from GIFT City in collaboration with Tata AMC.

2. USD Fixed Deposits: High-interest USD-based Fixed Deposit in partnership with a GIFT City-based Indian bank.

3. NRI Tax Filing: File your Indian income tax (ITR) as an NRI with expert CAs. No NRI markup, clear pricing starting from ₹2,000.

Features of the Belong products:

  • Tax-free in India and does not require filing ITR in India
  • Easy withdrawals to your foreign bank account
  • No new NRE/NRO bank account needed

How does the Belong app work?

  • A 5-minute paperless onboarding on the Belong app
  • E-sign your account opening form
  • Transfer money from your overseas bank account to save and invest

Our Tools – Smart Financial Tools Built for NRIs

Belong helps NRIs to make smarter financial decisions. We have built a suite of tools specifically for Non-Resident Indians (NRIs) to make tax planning, investment comparison, and compliance easier.

1. NRI Fixed Deposit (FD) Comparison Tool

The NRI FD comparison tool helps NRIs compare various FD rates across NRE, NRO, FCNR and GIFT City fixed deposits offered by leading Indian banks such as HDFC Bank, ICICI Bank, SBI Bank, Axis Bank and many more at a glance.

2. Residential Status Calculator

Use our Residential Status Calculator to easily determine your income tax classification in India. Whether you're a Resident, Non-Resident Indian (NRI) or Resident but Not Ordinarily Resident (RNOR), knowing your correct status is essential for accurate tax filing. This tool helps you know your status with a few quick questions, helping you stay compliant with Indian tax laws.

3. Compliance Compass

Stay on top of your financial compliance in India with Belong’s Compliance Compass, a quick and easy tool designed for NRIs, RNORs, and OCI holders to check whether they are following all the necessary rules across banking, investments and taxation.

4. GIFT Nifty Live Tracker

A tool designed to track the GIFT Nifty index in real-time, reflecting the performance of Indian equity markets. With over 20 hours of market activity each day, this tracker provides global investors with continuous insights into the Indian stock market, making it an essential tool for monitoring market trends and making informed investment decisions.

5. NRI Rent TDS Calculator

This tool helps Resident Indians quickly calculate the TDS on rent paid to NRIs . You simply enter the monthly rent, and it takes care of the rest. It also includes helpful guidance on how to deduct TDS and file TDS returns.

6. Rupee vs Dollar Tracker

Use our Rupee vs Dollar Tracker to track daily-updated exchange rates and analyse historical trends across different timeframes, making smarter investment decisions. This tool helps you to understand why more global Indians are turning to USD-denominated assets.

7. Explore Alternative Investment Funds (AIFs)

This tool helps NRIs explore the Alternative Investment Funds (AIFs) in GIFT City and compare returns and risks to find the best options to invest.

What are the other products in the pipeline?

In the future, Belong will offer other financial products to NRIs such as foreign currency savings accounts, credit cards, mutual funds and stocks.

Why choose Belong?

  • It was started by fintech experts with more than 15 years of experience in the field.
  • It is built solely for NRIs keeping their unique challenges and requirements in mind.
  • Belong itself, and all products offered/to be offered on Belong, are regulated by trusted Indian regulators. We are licensed and regulated by the International Financial Services Centres Authority (IFSCA), GIFT City.
  • It’s operated by Betafront Technologies Pvt. Ltd. through its subsidiaries – Betafront Financial Services (IFSC) Pvt. Ltd., which is a licensed Payment Services Provider (PSP), and Betafront Securities (IFSC) Pvt. Ltd., a licensed Broker and Distributor.

© Copyright 2024-2025 Betafront Technologies Pvt. Ltd.

Belong app is operated by Betafront Technologies Pvt Ltd and its subsidiaries, Betafront Financial Services (IFSC) Private Limited which is a licensed Payments Services Provider (PSP) and Betafront Securities (IFSC) Private Limited which is a license Broker and Distributor under International Financial Services Centres Authority (IFSCA) in GIFT City.

USD fixed deposits on the Belong app are by branches of trusted India banks present in GIFT City. These banks are regulated by IFSCA in GIFT City as well as by RBI.

Interest rates are provided by our bank partners. Estimates for time periods greater than 1 year are based on reinvestment at current rates.

Mutual Funds and AIFs are provided by respective Fund Management Entities (FMEs) present in GIFT City. These FMEs are regulated by IFSCA (similar to AMCs being regulated by SEBI in onshore India).

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