RBI directs loan recovery agents not to intimidate borrowers, no calling before 8 AM and after 7 PM
Shortpedia
Content Team
Image Credit: PTI & FB
The RBI on Friday issued fresh instructions barring recovery agents from resorting to intimidation of borrowers as well as calling them before 8 am and after 7 pm. 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.
