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.
