Banks cant send bouncers to collect money
"The said circular prohibits lenders from resorting to undue harassment in recovering loans, viz., persistently bothering borrowers at odd hours, use of muscle power for recovery of loans etc," he said.
The minister said with regard to complaints, the RBI has informed that complaints received by it regarding violation of the said guidelines and abusive practices followed by banks' recovery agents are viewed seriously.
"In such cases, the RBI can consider banning the bank concerned from engaging recovery agents in a particular area for a specified period.
"In case of persistent breach of above guidelines, the RBI can also consider extending the period or the area where the bank concerned is barred from engaging recovery agents," he said.
Everyone should keep this post handy in case they are being harassed by any bank. more
1.a. This way banks keep their books clear and their customer free of harassment, once is 3 months.
1.b. I had availed this service in USA, when my daughter was delivered, and i had to pay the hospital close to 20,000 US dollars. The hospital called, and asked me to make an offer of how much i will be able to pay.
This hospital was at that time linked to Kaiser Permenante. See link