Loan Recovery Agents

Recovery agents can visit your home or office, but only according to strict RBI guidelines that protect your rights and discourage harassment.

RBI’s ban bares risks for Mahindra Finance investors

The ban on hiring third-party entities for repossession of loan assets for recovery would reduce Mahindra Finance's repossession activity by as much as 75-80 percent. Analysts see a significant increase in stress as well as credit costs for the company in the coming quarters

Banking Central | Who will control erring loan recovery agents?

The Hazaribag incident highlights the dark world of recovery agents. Unfair loan recovery practices must stop

After Hazaribagh incident, Mahindra vows to review practice of using third-party collection agencies

Mahindra also promised to investigate the incident from all aspects and extend all possible support to authorities investigating the case

Banking Central | Borrowers deserve freedom from harassment

The latest RBI directions are a step in the right direction but the problem lies with its implementation on the ground

RBI directs loan recovery agents to not call borrowers before 8am, after 7pm

While issuing additional instructions to regulated entities including banks, NBFCs and ARCs, Reserve Bank (RBI) said it has observed that recovery agents are deviating from its instructions with regard to the recovery of loans.

RBI tells banks, regulated entities to desist from harassing borrowers for over dues

Regulated entities must ensure recovery agents call borrowers only after 8 am and before 7 pm, the regulator said in a release.

Loan app harassment cases on the rise in Mumbai, 4 FIRs registered in 4 days

A cloth trader and a Mumbai-based journalist were also harassed in a similar manner, with loan recovery agents circulating their morphed pictures showing them in compromising positions with women. Both persons have registered police complaints.