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FM Says No To 'Merciless' Loan Recovery; Instructs Banks 'No Harsh Steps'
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Today, the matter of coercive loan recoveries was ... moreToday, the matter of coercive loan recoveries was raised in parliament.
As you know banks & financial institutions deploy all kinds of tricks to recover loans. Banks sometimes even hire burly bouncers as recovery agents, and this muscle for hire is used to threaten people to recover loans.
Today, during the question hour the issue was addressed by Finance Minister Nirmala Sitharaman. She said banks have ben instructed to ensure no harsh measures are taken for loan recovery.
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