the basic problem is with the banks - they just sanction loans to anybody and everybody without verifying any facts and details and capacity and ability to pay back. why doesn't rbi come out with stringent rules for sanction / disbursement of loans ?
and then banks claim crores and crores of business done !!! on these basis ??
only if this is done - then a lot of tension and problems and surely the recovery agents can be avioded..
ditto for issuing credit cards.
as the saying goes - prevention is better than cure.
RE:recovery agents.
by Nitin Dutt on Apr 25, 2008 06:13 PM
Not all ppl who are poor are dafaulters mostly they are rich, powerful and those workinmg in MNC's or law firms or having good contacts they default on frivolous excuses. these guys must be bashed. What's wrong in it. Imagine you loan to someone on good faith and what happens when you demand yiur money back and he simply inores you as if you do not exist. Think about this before you say any thing about that dard.
RE:RE:recovery agents.
by Babu GR on Apr 26, 2008 12:34 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 the country development.
Banks which take utmost precautions before lending money need not have recovery agents.It is the very officers of the bank who get involved in bogus loan accounts who contribute for bad debts.A were training or a rule can never change the character.A police man has so much in his rule book but always wields his lotty on innocents while leaving the rowdies and influential scot- free.Goondas in the garb of recovery agents pounce upon honest borrowers who may default in one or two loan instalments.Only man who cares too much for self respect commits suicide.A Stubborn borrower sends recovery agents back in an ambulance as it happened in Bangalore
RE:RE:RE:aaa
by Narendra Bhardwaj on Apr 25, 2008 05:35 PM
No - The largest private banks are using muscle power instead of courteys rules and regulation for recovery of debts.
Only writeen communication must be followed for recovery of dues and if there will be any need to visit to defaulter first the bank should be report to police and thereafter only they should visit to defaulter then only dadagiri of recovery may be minimised. RBI Must revoke licence there bank if they found guilty
RE:RE:RE:RE:aaa
by Imsai Arasan on Apr 25, 2008 06:11 PM
Report to the police!!! Which world you are living in friend? Recovery agents take hard steps only sfter all their decent efforts to collect dues proved frutile.
In my suggestion there should be no recovery agents as if the customer is not ready to pay the due on time then a legal action should be taken against him. he should be punished as per law. By this way other people who are related to the accused will not be harrased...
RE:Recovery agents
by Anup Saxena on Apr 25, 2008 05:39 PM
Law! ha ha Lol. It takes minimum 10 years for a court case to get settled (not to mention subsequent appeals in higher courts). Per Supreme court sown admission there are 4-5 crore cases pending before all courts. If law could deliver justice and in a reasonable time (3-6 months), banks wouldn;t need recovery agents in the first place.
A more likely result of this is more and more people getting emboldened to take loan with no intention of ever returning it. And if banks started going bankrupt due to non-recovery, People who deposit money with banks may have to rethink - imagine you make a FD with bank and when you go to draw money upon expiry, bank says sorry sir ... we loaned your money to people who refue to pay up. please come after 15 yrs when we may have retrieved money from defaulters.
PS: i have nothing to do with any bank in erms of employment direct or indirect.
RE:Recovery agents
by Nitin Dutt on Apr 25, 2008 06:10 PM
Right, Imagine that we go to bank to withdraw money and they say that our money has been gobbled up by defaulters and we have sued them so why don't you sue us and we will both win together. also why don't you & defaulter settle outside amicably and we will write off accounts of both of you. So bank will make some profit while you will get your money from teh defaulter (BTW defaulter is a henchman of a poilitician and u will get your money if you survive the gunfire)
RE:Recovery agents
by Ajith on Apr 27, 2008 12:20 PM
who asked to do this business by banks, collecting FD's and lending them to defaulters. And how can they take law into their hands by supporting these recovery agents actions. If that is the only solution to recover means then there should not be an unsecured loan business practice at all in this country.
RE:Recovery agents
by atul sharma on Apr 25, 2008 07:05 PM
very well said buddy .... people who are againts the recovery measures don't think in this way that it is their own money which is falling in bad hands ...It is indirectly you yourself who are giving your money to a person who is not paying back .....i am also against of any brutaility with the customer wheather be it physically or mentally but one should understand that you cannot recover any thing from any one with folded hands
RE:Recovery agents
by SRG on Apr 26, 2008 10:00 AM
You are absolutely right!You cannot recovery anything from any one with folded hands! My one year old daughter does not give up anything willingly unless I snatch it from her!
