loan recovery

On September 22, citing "material supervisory concerns", The Reserve Bank of India on Thursday directed Mahindra and Mahindra Financial Services (MMFSL) to stop using third-party services for loan recovery until further orders. No…

The RBI has said that companies need to strictly ensure that they or their agents do not harass or intimidate any person in their debt collection efforts. RBI Bans Loan Recovery Agents From Harassing Borrowers; No Recovery Calls At Odd…

Loan Recovery Agents Banned From Using Bad Language, Threats To Recover Loans: This Won't Be Tolerated By RBI In the Modern BFSI Summit 2022, Reserve Bank of India (RBI) Governor Shaktikanta Das disapproved of the harsh behaviour of…

Banks cannot hire bouncers For a long time, banks have been using bouncers or “loan recovery agents” to recover loans from customers forcefully, torturing customers physically as well as mentally. But such traumatic malpractices will…