RBI Governor warns..!? Swearing at borrowers?

Sowmiya Sriram
RBI governor warns..!? Swearing at borrowers?
RBI governor Shaktikanta Das has warned borrowers of indecent behavior, including swearing at borrowers. It has been the practice for the last few years to hire agents to collect loans from banks and financial institutions. As a result, borrowers often become depressed and commit suicide. bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) governor Shaktikanta Das has warned that the RBI has already advised borrowing agents to be polite in this regard. Speaking at the Modern BFSI Summit 2022, Reserve bank governor Shaktikanta Das said that they have received complaints that borrowers' agents are calling at midnight and torturing customers.
There have also been reports of debt collection agents abusing borrowers, going in person and behaving rudely, and complaining to neighbors.
Such actions of debt collection agents are unacceptable. It is also important to understand that this will only give a bad name to the lending financial institution. When such complaints come to the Reserve bank they will take direct action themselves if the financial institutions concerned are registered with the Reserve Bank. But at the same time, he said that they would advise taking legal action if there is a complaint against unregulated companies.
RBI governor Shaktikanta Das has issued a stern warning in the wake of the recent rise in the number of suicides due to harassment by borrowers and bank agents.
Everyone is of the opinion that only legal action should be taken to recover the debt from the borrowers and that it is not acceptable to behave indecently like those who collect interest in defiance of the law.
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