ICICI do not condone act of recovery agents: Kamath

Bangalore, Nov 1 (UNI) ICICI Bank Managing Director K V Kamath today said that the bank does not condone any action of its recovery agents that are 'not appropriate'.

Talking to reporters on the sidelines of the 15th CII Summit here, he said the bank would certainly work in concert with the policy on recovery agents and do as the regulator (RBI) had suggested.

His reaction comes in the wake of the death of a borrower of the bank in Hyderabad recently. The wife of the borrower had alleged that pressure from the recovery agents had led to her husband's death. Following this RBI had directed all the banks to appoint their own recovery agents and warned the banks against harassment of the borrowers.

''We are responsible players and have good practices. However, if any such actions happened, we do not condone it. Each bank will have to look at the appointment of its agents,'' he added.

UNI