in my opinion day is not far when people will stop buying cars , mobikes or any other household items & personal loans from bank like ICICI , HDFC and similar private banks.When somebody has to take loan from such banks , at that time they talk so sweetly and show such comfort to the customers but the moment your single instalment get due due to any reason (check bouncing etc) then the recovery agents come into picture and those 6 feet tall gunda elements (most of them stout villagers and hardly 10th class passed ) start calling you on mobile phones , home phones and start using pressure tactics by abusive method . There is a black side hidden in disguise at the backdrop of all such banks like ICICI , HDFC , Bank Of punjab etc etc....BEST IS WE SHUD TAKE LOANS FROM SBI , OBC , PNB LIKE BANKS AS THEIR SYSYTEM IS MUCH BETTER AND NO SUCH GUNDA ELEMENTS AFTER YOU . recovery agents r really a big menace and there should be provison to directly file FIR against such agents , if not checked they will keep harrassing people. Everything is going on under the knowledge of private banks...
RE:Recovery Agents !!!!!!!!!!!!!!!
by sir on Apr 26, 2008 05:42 PM
you are right-why bank need third party- to collect-violating privacy policy-bank had their employees-they can train a cell- rbi should look in to this--
my emi of my housing loan had been deposited in hdfc bank instaed of in the housing branch but the credited the emi and the housing dept started harrasing me for the emi and on being assured that my emi would be credited back to my account i regularised mu housing loan account and had instructed the caller that if they do not credit it within 2 months i would stop my emi to which he had agreed but nothing concrete happened and i stopped paying my emis.later on the housing manger was following the case for 2 years and even that he could not assure me of my money being credited to my account.should i have continuedc paying my emi or no
RE:loan
by sir on Apr 26, 2008 05:43 PM
you are right-why bank need third party- to collect-violating privacy policy-bank had their employees-they can train a cell- rbi should look in to this--
How long will this sustain harassments done by the collection pupils is because of the pressure given from their superior not the indivual who is on the field,and for the superior it comes from his boss,ultimately the Bank CEO or whoever the head is responsible for such incidents.
RE:credit card dues
by sir on Apr 26, 2008 05:44 PM
you are right-why bank need third party- to collect-violating privacy policy-bank had their employees-they can train a cell- rbi should look in to this--
RBI should design a stringent norms to banks regarding disbursment of loan either to Corporates or individual. Same should be case with Credit Card also. A bank while granting loan should ensure that the person/corporates taking the loan has got strong financial capability to repay the debt. It is also quite possible that at the time of granting loan a person may have sound financial position, but later may not be in a position to service the debt. In such case Bank should check his track record of repayments made and should get in touch with that person/corporates and restructure his loan in such a way that the person can service the debt. Sending recovering agents and demand repayment of loans from defaulters will serve nothing but may have negative impact. The banks should understand why a person/corporate is not able to pay the loan amount in time and come out with a solution that suits both banks and the borrower.
RE:Restructuring of Loan
by mandook on Apr 27, 2008 01:51 PM
RBI is found to be the most spineless regulatory authority. They will go and fall at the feet of Kamath. RBI has not been able to compel ICICI bank in introducing even simple pass book when all other banks have been compelled. Why this favur for ICICI bank?
Why Banks are not sending collection agents to the defaulting Politicians? You can collect very good amount from them because they are borrowing very huge amount and loan is becoming bad debts..Some banks has to take bold steps to recover from this people as example..
RE:What about Politicians?
by SRG on Apr 26, 2008 10:03 AM
You are mistaken; Politicials usually do not borrow from banks; They can easily finance their requirements from respective govt departments; For your information, Sugar factories which are usually controlled by politicians never default their loans;
RE:What about Politicians?
by sir on Apr 26, 2008 05:44 PM
you are right-why bank need third party- to collect-violating privacy policy-bank had their employees-they can train a cell- rbi should look in to this--
"If you don't mind, can I smash your face sir?" or "For your kind information Sir we regularly send a percentage to the police so you'd be best advised not to call them",etc... I know of a case where a man who was stabbed went to report to the police. The knife was still stuck in his back and he could barely report what happened. Know what happened? The police arrested him for carrying a concealed weapon.
RE:e.g. Can you pls tell me which of your 2 eyes I should gouge out?
by Babu GR on Apr 26, 2008 12:38 AM
Each and every Citizen of India should be equally treated as per court of law. Nobody have rights to take the law in hands, it is very wrong and in contrast, not a good signs for our country's development. At the same time, our citizens also should act responsibly when getting the loans and have to ensure to pay it back with good honesty.
WHY THE BANKS ARE GIVING THE LOANS TO THE PEROSONS WHO ARE UNABLE TO MAKE REPAYMENT FOR THE SAME . BEFORE OFFERING THE LOANS AND SEND THEIR EXECUTIVES TO THE BORROWER VERIFY THE COMPLETE DETAILS AND ACTUAL BORROWING POWER INSTEAD OF PUSHING THE SALE AND MAKE THEIR TARGETS FULFILLED
My point is why should you default? If you cant pay why do you take a loan & there's nothing wrong in sending a recovery agent to your house if you are not able to pay the loan. If you are so interested in getting rid of recovery agents hen why dont you pay back the money to the bank.
RE:Loan Recovery
by avtar priyadarshan on Apr 25, 2008 10:23 PM
what u said is simple. I fully agree. Unfortunately many specially the defaulters disagree.....
RE:Loan Recovery
by S.Singh on Apr 25, 2008 11:49 PM
Dear yournutshell, it's not so easy for all to earn so much that they needn't borrow. Life is not so easy for all as You think it is. And nobody wants to be a defaulter willingly.
RE:Loan Recovery
by Babu GR on Apr 26, 2008 12:28 AM
Mr Singh, I agree with you ! Banks are doing the businees and they need to well derive the procedures to handle defaulters as per the court of law.
RE:Loan Recovery
by Madhav Yadagiri on Apr 26, 2008 09:34 AM
are ooo paagalooo pahele bade bade machliyonkoo pakudo..jisne karoode rupiyaa bank mein se nikalee apni dandhe dikakar aur baad mein defaulter bangayee..aise maharathi is desh mein bahut saare har ek shahar mein rahethe..is desh mein har ek nagarik kannon ke saamne ek hi jaise hotha magar jisne 50,000 - se 5 lakh tak ka karza bank loan kartha hai aur baad mein repayment karne mein nakamyab rahetha hain waise loogon ko paas ek mawaaliii recovery agents apni tamasha dikhane aajathe..aur jisne karoda rupiya karz lethe hai bank se..aur repayment nahi kartha kayii mainooo bar..uskaa naam tak leneke ki himmat nahi kar sakte ye paapi recovery agents...kyun ki jho karodooo rupiyaa bank loan lethee hai woh is desh mein aur samaaj mein bahuti baada aadmi kahlatha...ye sab recovery drameebazzii 5 lakh ke andar jisne bhi bank loan letha hai uni ko saatannee kabil aur kamyaab hojathe....
Certainly not. So long as the banks judge the agencies on the effectiveness of their collections, the agents go on using crude tactics because they understand that their livelihood depends on that.
get the system right -- i mean to say make law and order right firs, make ocurts ready for faster decisions and then come to traning the recovery agents. if there are no recoveru agents and bansk keep sending notices to defaulters then the banks will have to shut down and stop lending. live example : global trust bank, united western bank....there are many public sector banks which are facing the problem of recovering loans..so get the law and order right and then train the banks.
RE:recovery agents
by akhil kapoor on Apr 25, 2008 07:54 PM
Absolutly..if banks are unable to make sufficient recoveries from defaulters then they'll be forced to increase the rate of interest on the loans.....thus the burden will be transferrd to the honest general public
RE:recovery agents
by Ravi PV on Apr 25, 2008 08:37 PM
You seem to be missing the point. Banks will have to down their shutters only when big fishes like politicians and industrialists refuse to repay the loan taken by them even though they might be sitting on crores. Banks cannot flourish only by sending recovery agents (goondas) to harass the hapless common man.
RE:recovery agents
by prasad ranshinge on Apr 26, 2008 07:07 AM
I would agree with Ravi. Why not those bank ppls send the agents to the big fishes like politicians and big buseness man. also would like to make a point that why do the sales dept keeps harrassing the common man to take loan. they will call thousand times and visit thousand times and even if you make any excuse they will say no problem i will arrange and u just take the loan or credit card. from where do they arrange all those things and how. there might be so many credit cards in so many fake names used and thrown and nobody bothers about it and all done by those agents and bank harrases the common helpless man who is unwillingly pulled in this plot by those agents.
