{"id":12497,"date":"2022-12-22T09:05:15","date_gmt":"2022-12-22T09:05:15","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=12497"},"modified":"2022-12-22T09:05:17","modified_gmt":"2022-12-22T09:05:17","slug":"rbi-guidelines-on-debt-collection-an-overview","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/rbi-guidelines-on-debt-collection-an-overview\/","title":{"rendered":"RBI Guidelines on Debt Collection – An Overview"},"content":{"rendered":"\n

Any commercial bank that is properly registered with the Reserve Bank of India must perform the essential tasks of accepting deposits and making loans. Both individuals and entities can use such facility. But the recovery of such loans and enforcement of securities charged against such loans are challenging tasks for banks and financial institutions. When a borrower is unable to pay off their obligations or doesn’t make the required loan instalments, the debt collecting agencies will be notified of their delinquency. A debt collector may be responsible for collecting unpaid amounts on credit card balances, phone bills, auto loan payments, utility payments, and unpaid taxes, etc. To get the debtor to settle their account, these agents can employ various tactics, including contacting the debtor’s home and office phones and even dropping by the borrower\u2019s home. The RBI, as part of guidelines on the Fair Practices Code, has advised REs that they should not resort to intimidation or harassment of their borrowers or calling them on the phone at odd hours in the process of their debt collecting efforts. In this blog, we will discuss RBI Guidelines for Debt Collection.<\/p>\n\n\n\n

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