Raipur. In the Khamhardih police station area of the capital, recovery agents of a private bank entered Vinod Kumar’s house and beat him up and started abusing him. Giving information in the case, the victim Vinod Kumar said that the victim has filed a case in the court regarding insurance where its hearing is going on. After which efforts are being made to put various types of pressure on the victim.
But the limit was crossed when suddenly this morning the recovery agents of the same private bank reached the house of the victim Vinod Kumar and started creating a ruckus and started convincing the victim to withdraw the case by beating him, the CCTV footage of which has also been shared by Vinod Kumar with the media. Let us tell you that this incident took place in the house of businessman Vinod Kumar, a resident of Sales Tax Colony, Kachana, and there was some ruckus. Vinod Kumar has lodged a complaint against them in the police station.
When you default on a loan, banks and financial institutions are allowed to take back your outstanding money. However, it is necessary for them to follow the procedure as per the law while recovering the outstanding amount. With regard to debt recovery, there are usually three parties involved – the lender, the borrower and the recovery agent. Banks and financial institutions appoint recovery agents to recover the amounts owed by the debtor. These agents are highly motivated individuals who work on a commission basis. They can often go to any lengths to get the money back which may result in harassment. To protect consumers from intimidation and pressure, the Reserve Bank of India has laid down specific guidelines for lenders and recovery agents.
