Now Recovery Agents Will Not Be Able To Harass, RBI Has Implemented Strict Rules; What To Do If You Reach Home?
RBI has issued new guidelines for debt recovery agents, due to which they will no longer be able to misbehave with borrowers. Banks will have to make a clear policy for the qualifications, code of conduct and monitoring of agents. It will be mandatory for agents to obtain training certificate. Customer information will be kept confidential and the recovery process will stop upon complaint. This step has been taken to protect borrowers from undue pressure and harassment.