Bank Loan Recovery

A couple and their 18-year-old daughter allegedly died by suicide by consuming poison, police here said on Monday, with villagers claiming they were harassed by recovery agents after they failed to repay a bank loan.

The digital infrastructure has made the loan sanctioning system adopt an online mode but the loan recovery still requires a 'feet on the street', says Swaminathan J, Deputy Governor of Reserve Bank of India (RBI).

Terming a recovery agent firm of a bank as a "group of goons" who did not return vehicle seized from a man despite one time settlement of the loan amount, the Supreme Court has directed the West Bengal Police to file charge sheet against the company.

Mr Mehta mentioned that he began receiving calls from over 10 different numbers, and the loan recovery agent displayed abusive behaviour towards him.

Banks have written off Rs 10.57 lakh crore during the last five financial years, of which Rs 5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament today.

Any bank, especially the State Bank of India (SBI) being the leading bank of the country, is expected to take proactive steps to ascertain whether the people being sued by it are dead or alive, a Delhi court has said.

The Reserve Bank of India on Thursday proposed stricter norms for recovery of overdue loans under which financial institutions and their recovery agents cannot call borrowers before 8 in the morning and after 7 in the evening.

Nirmala Sitharaman today said the government has instructed both public and private banks that harsh steps should not be taken when it comes to the process of loan repayment and that they should handle such cases with humanity and sensitivity.

Ukraine will receive $1.5 billion from the World Bank to support reconstruction and recovery, Prime Minister Denys Shmyhal said on Friday.

Finance Nirmala Sitharaman said recovery in NPA (non-performing asset) accounts, including written-off loans, was an on-going process.

Hours after receiving a loan recovery notice from the bank, a debt-ridden Kerala man wins the lottery for Rs 70 lakh.

The Reserve Bank on Friday clarified that it is not against the outsourcing of recovery activities by lenders, but expects them to be undertaken on the "right side of the law".

Mahindra and Mahindra Financial Services said on Friday it expects repossession activity of vehicles to reduce temporarily a day after the country's central bank directed the company to stop using third-party services for loan recovery.

Share price of IDBI Bank surged by around 7 per cent on Friday after the company's top executive expressed hope that the lender may recover around one-fourth of nearly Rs 78,000 crore of bad loans and the government is likely to speed up privatisation process.

The focus for Punjab & Sind Bank is to reduce its bad loans and improve recoveries to ensure that gross non-performing assets fall below 10% by the end of FY23, the bank'schief said on Tuesday.

A couple and their 18-year-old daughter allegedly died by suicide by consuming poison, police here said on Monday, with villagers claiming they were harassed by recovery agents after they failed to repay a bank loan.

The digital infrastructure has made the loan sanctioning system adopt an online mode but the loan recovery still requires a 'feet on the street', says Swaminathan J, Deputy Governor of Reserve Bank of India (RBI).

Terming a recovery agent firm of a bank as a "group of goons" who did not return vehicle seized from a man despite one time settlement of the loan amount, the Supreme Court has directed the West Bengal Police to file charge sheet against the company.

Mr Mehta mentioned that he began receiving calls from over 10 different numbers, and the loan recovery agent displayed abusive behaviour towards him.

Banks have written off Rs 10.57 lakh crore during the last five financial years, of which Rs 5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament today.

Any bank, especially the State Bank of India (SBI) being the leading bank of the country, is expected to take proactive steps to ascertain whether the people being sued by it are dead or alive, a Delhi court has said.

The Reserve Bank of India on Thursday proposed stricter norms for recovery of overdue loans under which financial institutions and their recovery agents cannot call borrowers before 8 in the morning and after 7 in the evening.

Nirmala Sitharaman today said the government has instructed both public and private banks that harsh steps should not be taken when it comes to the process of loan repayment and that they should handle such cases with humanity and sensitivity.

Ukraine will receive $1.5 billion from the World Bank to support reconstruction and recovery, Prime Minister Denys Shmyhal said on Friday.

Finance Nirmala Sitharaman said recovery in NPA (non-performing asset) accounts, including written-off loans, was an on-going process.

Hours after receiving a loan recovery notice from the bank, a debt-ridden Kerala man wins the lottery for Rs 70 lakh.

The Reserve Bank on Friday clarified that it is not against the outsourcing of recovery activities by lenders, but expects them to be undertaken on the "right side of the law".

Mahindra and Mahindra Financial Services said on Friday it expects repossession activity of vehicles to reduce temporarily a day after the country's central bank directed the company to stop using third-party services for loan recovery.

Share price of IDBI Bank surged by around 7 per cent on Friday after the company's top executive expressed hope that the lender may recover around one-fourth of nearly Rs 78,000 crore of bad loans and the government is likely to speed up privatisation process.

The focus for Punjab & Sind Bank is to reduce its bad loans and improve recoveries to ensure that gross non-performing assets fall below 10% by the end of FY23, the bank'schief said on Tuesday.