Reserve Bank of India raps Banks

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New Delhi, 1 Dec, 2007 : The Reserve Bank of India on 30th November issued draft guidelines for banks regarding agents appointed by them to recover outstanding loans.

The RBI barred banks from resorting to any verbal or physical harassment of customers through these agents in case of loan defaults and also warned that they might have to face a ban by the Central banking authority in case of any violation of the rules.

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