NEWS & ADVICE : PERSONAL LOAN
Delhi Police wants public co-operation to catch recovery goons
By Vaibhav Aggarwal
Oct 16, 2007
Print    Email    RSS   

New Delhi: Finally it seems like the police had decided to tighten the noose around the goons employed by the banks as recovery agents. As a measure to involve people in this process, the police has decided to launch a massive advertising campaign urging people to file complaints against such goons if they harass them in any way.

The main reason cited by the police about their helplessness in bringing these culprits to book is that they don't have any complaints against them. People who suffer at the hands of such miscreants do not lodge any complaint or FIR. This helps the errant recovery agents to go scott free.

Rajan Bhagat the spokesperson of Delhi Police, while speaking to media persons here said, "We expect bank and finance companies to work within the framework of law. People who have been victims should report the matter so that we can take necessary action against them."

Although the recovery agents have been harassing people for a long time, but few incidents in recent past have raised a lot of hue and cry over the matter. This had forced the RBI to issue strict guidelines to banks over the recruitment, behavior and disclosure about the recovery agents and their employers.

In 2005, a man committed suicide in his Sriniwaspuri home after continuous harassment by loan recovery agents. July last year, saw a 61-year-old woman being abducted and her car confiscated near the AIIMS flyover from bank's recover agents. The incident of Prakash Sarvankar, who comitted suicide after being publicly humiliated over non-payment of dues attracted a lot of media attention and ICICI bank, whose agents were involved in the recovery procedure, had to cough up Rs. 15.5 lakhs to the wife of the victim as compensation.

A senior police official commenting on the situation said, "These people know that they are defaulters, so they think they will also get into trouble if they report the matter. Advertising is a good way of reaching out to people telling them that such practices are criminal."


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Personal Loan Vs. Cash advance from credit...
An Insight into Lending Rate Changes
Managing and emerging out of institutional...
Benefits and drawbacks of personal loans...
Carnival of Indian Personal Finance Blogs #6


i want to check my loan balance in canara bank my...
i want to check my loan balance in canara bank my...
My personal Loan application no- 53269935 accepted...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive