✅Are they calling at odd hours( before 7 a.m. and after 7 p.m.)?
✅Are they using harsh language to the borrowers?
✅Are they not confirming their identity to the borrower while calling?
✅Are the recovery agents discussing the borrower’s loans with their coworkers, friends, or family?
✅Are they misrepresenting themselves or making false statements about the consequences of non-payment?
Consumer rights are violated, and it is a significant cause for concern when recovery agents engage in harassment. And we all know how RBI is penalizing the defaulters.
Be it a 𝗕𝗮𝗻𝗸 𝗼𝗿 𝗡𝗕𝗙𝗖, the number of auditors is always limited who can personally travel and do physical audits of a collection agency. Let’s say you have 2 or 4, or 5 auditors and might have 200 or 300 collection agencies; how can you keep vigilance over them?
𝗪𝗲 𝗮𝘁 𝗧𝗵𝗲 𝗞𝗚𝗔𝗖, with our huge team power, keep an eagle eye on all the activities of the collection agencies. The KGAC team helps to monitor all these metrics and improvise on these.
#collectionagencies #recoveryagents #vigilance #audit #banks #nbfcs