US EditionPrivate Banks and NBFCs Allegedly Violating RBI Guidelines on Debt Recovery - The India Saga
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Private Banks and NBFCs Allegedly Violating RBI Guidelines on Debt Recovery - The India Saga
Private banks and non-banking financial companies (NBFCs) are facing severe criticism for allegedly flouting the Reserve Bank of India’s (RBI) guidelines on ethical debt recovery practices. Recent reports have highlighted concerning incidents involving harassment and privacy breaches by recovery agents, raising questions about the adherence of institutions like ICICI Bank, Kotak Mahindra Bank, and NBFCs such as Fibe to RBI regulations.
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