Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Mobile Downloads
Text 67333
Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this Article

Home > Business > Message Board

Have you been harassed by loan recovery agents?

October 15, 2007

Recovery agents employed by banks have been harassing customers who have defaulted repayment of loans.

The police recently arrested recovery agents of ICICI Bank [Get Quote] and HDFC Bank [Get Quote] on charges of extortion and criminal intimidation.

There have been instances where unable to bear the harassment by recovery agents, people have committed suicide.

In the view of recent cases of death, Reserve Bank of India has asked banks to review their loan recovery practice.

How should bank recover loans? Should recovery agents be banned? Have you been threatened by recovery agents? Tell us your experience with them.