The illegtimate role of recovery agent should be ended at the earliest. The banks should have regular employees who should be given the task of following up with default of loan. The regular legal process should follow once the loan is declared non-recoverable. The conditions and legalities must be told in clear terms to the borrower. A list of rights and duties of borrrower and bank should be drafted by the RBI.It is high time that this hooliganism of recovery agents should come to an end.
