Does Banks ever care for RBI guidelines. I don't think so. We had faced heavy harrassment at the hands of the Recovery Agent employed by the HDFC. My brother had taken a loan and was paying the instalment regularly, but suddenly due to financial crisis he could not pay the instalment on the due date and it was not that he was not paying the instalment, its just that the instalment was getting delayed and I was giving the guarantee for that. Still the recovery agent harrassed us especially our family ladies who are alone at home, threatened us and we could not lodge any FIR because the police people are never cooperative. Complained to the Bank as well Agency but no response ever received. Working people how can they get time to run after all these. RBI needs to have their own consumer forum who can help people and Banks sort out things.
RE:RBI rules are not strictly followed.
by ganesh subramanian on Jun 14, 2008 03:25 PM Permalink
If you have delayed loan instalment payment,before any recovery agents knock at your door better you go to the bank and inform them about your problem then nobody on earth will trouble you.Be frank and sincere.
RE:RBI rules are not strictly followed.
by Amit Kumar on Jun 15, 2008 11:41 AM Permalink
My friend also gonethrough same phase. As per my advice he went to criminal lawer Registered complaint in court. AND sent copy to finance company. Next day harrasment stop.Procedure cost hom 2500/-rs. This is the reason why banks not giving loan to Lawers,police and political person.They cannot use musle power.
