Calls by loan recovery agents at odd hours, unacceptable: RBI Governor Shaktikanta Das

Calls by loan recovery agents at odd hours, unacceptable: RBI Governor Shaktikanta Das

According to Das, the RBI has received several complaints from customers regarding recovery agents calling at odd hours

AgenciesUpdated: Saturday, June 18, 2022, 10:10 AM IST
article-image
Big tech's financial services play poses systemic concerns like overleverage: RBI Governor Das | File

Calling at odd hours and use of foul language by loan recovery agents is unacceptable, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday.

“In the context of customer service, another area which is engaging the attention of the RBI is the harsh recovery methodsused by certainlenders, without having adequate checks and controls over their recovery agents,” Das said at an event.

According to Das, the RBI has received several complaints from customers regarding recovery agents calling at odd hours. “We have received complaints of customers being contacted even past midnight. There are also complaints of recovery agents using foul language. Such kind of actions by recovery agents are unacceptable and pose a reputational risk for the financial entities themselves,” he said, adding that the RBI has taken serious note of such instances and will not hesitate to take stringent action.

RECENT STORIES

Uttar Pradesh Sees 1.6 Million Hectare Surge In Kharif Crop Area; Oilseeds, Pulses And Cotton Lead...

Uttar Pradesh Sees 1.6 Million Hectare Surge In Kharif Crop Area; Oilseeds, Pulses And Cotton Lead...

Uttar Pradesh News: Gorakhpur PAC Training Centre Erupts In Protest As 600 Women Recruits Allege...

Uttar Pradesh News: Gorakhpur PAC Training Centre Erupts In Protest As 600 Women Recruits Allege...

Uttar Pradesh Govt Launches Rural Biogas Scheme In 2.5 Lakh Homes; Pilot Begins In Ayodhya,...

Uttar Pradesh Govt Launches Rural Biogas Scheme In 2.5 Lakh Homes; Pilot Begins In Ayodhya,...

Uttar Pradesh News: Barabanki Family Attempts Self-Immolation Outside UP Vidhan Sabha Alleging False...

Uttar Pradesh News: Barabanki Family Attempts Self-Immolation Outside UP Vidhan Sabha Alleging False...

Uttar Pradesh News: Allahabad HC Halts Sitapur School Merger, Cites Concerns Over RTE And Student...

Uttar Pradesh News: Allahabad HC Halts Sitapur School Merger, Cites Concerns Over RTE And Student...