Unprofessional and Not a Fair Way of Collection?

Question

Hello, 
I have again received a call today at 4.11 pm and again. He very rudely told me why did you not made the payment and I explained him all the conversation, which has been going on for so many days. 
He said I don't know, what did the executive told to you and I am not responsible for that. He said that, I can be given an extension for only 2 months and not the 3-4 months extension, what i was told initially.
So, is that the way it would. So, very unacceptable way of treating the people, who use the card.
So, are you trying to threaten the people while collecting the money. 

Regards,
Jaspreet Singh.

Answer 1

Dear Jaspreet,

At the outset, let me clarify that this site is designed by a group of senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Regulatory (RBI) guidelines and internal guidelines of banks do not approve of using highhandedness for recovery of overdue. Customers on their part are expected to fulfill their obligation of prompt repayment of dues. Your  continuous default appear to have created the present situation. However, there is no justification whatsoever for using  harsh approach followed by the collection/recovery agents of the bank concerned.

While I urge you to settle the dues as per the terms agreed upon with the bank, please do not hesitate to bring the unacceptable behaviour and the methods used by the recovery agent in violation of the RBI guidelines, to notice of the Nodal Officer of your bank whose contact details can be found on the bank's website. 

If there is no improvement in the situation despite your complaint to Nodal Officer, you may bring the issue to notice of the Banking Ombudsman, 30 days after the date of your complaint to Nodal Officer.  For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the website https://bankingombudsman.rbi.org.in/
 

Regards

 

J R Mohandas