Bharat Social Finance Corporation (BSFC)
Effective Date: 04-04-2025
Bharat Social Finance Corporation (BSFC) is committed to maintaining transparency, fairness, and responsible financial practices in all customer interactions. This Refunds and Returns Policy explains the terms applicable to payments, service fees, application processing charges, membership-related fees, digital transactions, and other operational payments associated with BSFC services, financial assistance programs, Self Help Group (SHG) initiatives, and rural development activities.
As BSFC operates within the financial services and microfinance sector, the nature of services provided differs from traditional product-based businesses. Accordingly, refunds, cancellations, reversals, and payment disputes are governed by financial regulations, operational policies, banking procedures, digital payment standards, and applicable legal obligations.
By using BSFC services, submitting applications, making payments, enrolling in programs, participating in SHG activities, or accessing digital platforms, customers acknowledge and agree to the terms outlined in this Refunds and Returns Policy.
BSFC may collect certain operational fees, membership charges, digital processing charges, training participation fees, service facilitation charges, documentation handling charges, insurance-related charges, onboarding fees, or other lawful administrative costs associated with financial services and operational support. Any applicable fees shall be disclosed through official communication channels, application forms, agreements, or digital platforms before payment processing wherever reasonably practicable.
Due to the operational and administrative nature of financial services, most payments made towards loan processing activities, verification procedures, digital onboarding, documentation handling, membership enrollment, training participation, insurance integration, field operations, technology facilitation, or financial service administration are generally non-refundable once processing activities have commenced. Customers are encouraged to review all terms, eligibility requirements, payment obligations, and service details carefully before completing transactions.
Refunds may be considered only under limited circumstances determined solely by BSFC in accordance with applicable laws, operational feasibility, banking procedures, regulatory requirements, and internal review standards. Refund requests may be considered in situations involving duplicate payments, accidental overpayments, verified technical transaction failures resulting in multiple debits, unsuccessful payment settlements where services were not initiated, or operational errors directly attributable to BSFC systems.
Submission of a refund request does not automatically guarantee approval. All requests are subject to internal verification, transaction validation, fraud prevention checks, regulatory review requirements, banking confirmation processes, and operational assessment. BSFC reserves the sole right to approve, reject, partially approve, defer, or investigate refund requests based on available records, supporting evidence, payment gateway information, financial compliance obligations, risk considerations, and applicable operational policies.
Where refunds are approved, the amount may be processed only through the original payment source, banking channel, or legally permitted financial method, subject to verification requirements and banking system limitations. BSFC shall not be responsible for delays caused by banks, payment gateways, technical processing systems, intermediary financial institutions, regulatory restrictions, holidays, force majeure events, or circumstances beyond reasonable operational control.
Loan disbursements, approved financial assistance, credit facilities, SHG financing support, or sanctioned funding amounts are not considered refundable purchases or returnable products. Once financial assistance has been sanctioned, disbursed, utilized, or contractually processed, repayment obligations shall continue to apply in accordance with loan agreements, repayment schedules, financing contracts, and applicable financial terms accepted by the customer or SHG participants.
Customers shall remain responsible for repayment obligations, penalties, applicable interest, service charges, late payment liabilities, or contractual dues associated with approved financial assistance, irrespective of business outcomes, income variations, operational challenges, market conditions, or personal financial circumstances, unless otherwise expressly agreed in writing by BSFC in accordance with applicable laws.
BSFC does not guarantee loan approval, financial sanction, funding eligibility, business success, income generation, profit outcomes, employment opportunities, or financial improvement solely on the basis of application submission, participation in programs, or payment of administrative fees. Financial assistance decisions are subject to eligibility evaluation, verification procedures, risk assessment, regulatory compliance, documentation review, operational feasibility, and internal approval standards.
Customers are advised to ensure that all payment information, application details, banking credentials, contact information, and supporting documentation submitted to BSFC are accurate and complete. BSFC shall not be responsible for failed transactions, refund delays, processing issues, or financial disputes arising from inaccurate information, unauthorized transactions, customer negligence, banking restrictions, payment gateway failures, or third-party operational issues beyond reasonable control.
In cases involving fraudulent activity, unauthorized payment usage, forged documents, suspicious transactions, misrepresentation, abuse of services, policy violations, or unlawful conduct, BSFC reserves the right to suspend transactions, reject refund claims, initiate investigations, report suspicious activity to relevant authorities, or take legal and regulatory action as permitted under applicable laws.
Customers seeking clarification regarding payments, cancellations, transaction disputes, duplicate deductions, or refund eligibility may contact BSFC customer support through official communication channels. Refund-related requests may require submission of transaction references, banking evidence, identity verification documents, payment receipts, or additional supporting information necessary for investigation and resolution.
BSFC reserves the right to modify, revise, suspend, or update this Refunds and Returns Policy periodically in response to regulatory changes, banking requirements, operational developments, technology upgrades, legal obligations, or service modifications. Updated policies shall become effective upon publication through official BSFC platforms unless otherwise required under applicable law.
This Refunds and Returns Policy shall be governed by the laws of India. Any disputes arising in relation to payments, refunds, financial transactions, or service-related claims shall be subject to the jurisdiction of courts located within the jurisdiction of BSFC’s registered office, subject to applicable legal provisions.
For payment assistance, refund-related concerns, transaction clarification, or customer support, users may contact:
Bharat Social Finance Corporation (BSFC)
Customer Support & Privacy Department
Email: grievencescare@bsfcindia.org
Support Email: support@bsfcindia.org
Customer Support: 1169268704
Head Office: New Delhi, India
By making payments to BSFC, accessing our services, submitting applications, or participating in financial programs, customers acknowledge that they have read, understood, and agreed to the terms of this Refunds and Returns Policy.
