RBI cracks down on recovery agents

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  • Published On: December 01, 2007
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In draft guidelines released on Friday, the RBI cracked down on recovery agents and said that the banks will have to undertake a due diligence process before appointing recovery agents. Earlier, defaulting borrowers were harassed endlessly by unrelenting recovery agents forcing some to even take their lives. But now finally, some relief for borrowers as the RBI has issued new guidelines for the agents.

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