Reserve Bank of India raps Banks
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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Story first published: Wednesday, December 5, 2007, 10:02 [IST]