The Reserve Bank of India has issued a circular related to loans. Accordingly, the borrowers will get relief. RBI’s circular is for all banks and financial institutions in the country. In this circular, RBI has asked banks to ban incidents like harassment, intimidation and misuse of personal data of bank loan holders. Also, the relatives and close relatives of the borrowers should not be harassed.
Loan holders should not call before 8:00 am and after 7:00 pm
In fact, many such incidents have been seen, in which customers taking loans from banks are harassed. In such a situation, it has been said in the circular of RBI that now loan holders should not call for recovery before 8:00 am and after 7:00 pm. It also states that the recovery agents should be asked to make the recovery under the rules. Recovery should not be made by harassing the borrowers of the loan.
RBI has taken this decision after seeing many incidents that have come to light. RBI circular states that banks or recovery agents should not misbehave with customers during loan recovery. No customer should be harassed. RBI has clearly written in its circular that if such complaint comes from any customer, it will be taken seriously. And action will be taken against the said bank. Let us tell you that this decision of RBI is going to give a lot of relief to the customers taking loans. People will no longer worry about losing their respect. In the past, it has been seen many times that during the loan recovery, customers are made to suffer.
