In my view the lame Indian Judiciary system may be at the root of this issue.The fault possibly lies with the abnormally long delay in granting justice by INDIAN COURTS in case the Banks file Court case for recovery of their outstanding loans in case of Defaults. Once the Judicial system improves and there is a certain general confidence level for quick relief thru' Courts, the banks won't have to hire recovery-agents.
RE:Have you been harassed by loan recovery agents?
by Srinivasa on Oct 15, 2007 06:36 PM Permalink
It is ufair to blame on just "judiciary system". What judiciary can do if the our "System's" (not judiciary) inability to proove who is right & who is wrong? In western countries there is a working "System" where by judiciary can make the decisions fast by looking at the all available evidences in the Sytetem. (Who aredefaulters, Why?, Is he really punishable? So to what extent? etc). We dont have that complete working System.
I dont know whather it is possible in India in near future. Hope so in long run.
