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Bad behaviour for the recovery of dues caused one more suicide


Miss Komal Mantri (Chartered Accountant )     18 October 2007

Miss Komal Mantri
Chartered Accountant  
 38 likes  1974 points

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I have heard that one more person suicide bcoz of ruthless behaviour of the Recovery agent of the bank....

Dont u all think that there shld be some law providing code of conduct to the recovery agents and restricting there powers....

Is there any way out to prevent such unforgiving behaviour of the Recovery Agents...

 

 

avater

Satya Narain Gupta (CA final student)     18 October 2007

Satya Narain Gupta
CA final student 
 496 points

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The recovery agents are not embeded the powers but by hook and cook they are collecting the payments due to negligent behaviour of police and judicairy. We have no solution to make accoutable to police and judiciary.

avater

Prakash Popat   19 October 2007

Prakash Popat

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Principles R responsible for the acts of agent as per laws,and such murder or suicide is deemed to be not by Recovery Agents but by Principal Bank/Banker.

avater

Miss Komal Mantri (Chartered Accountant )     19 October 2007

Miss Komal Mantri
Chartered Accountant  
 38 likes  1974 points

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I think bank shld restrict there activities.......they behave as they want.....i feel ultimately both r responsible....
Secondly before appointment of recovery agents bank shld make detail inquiry about them....

avater

Satya Narain Gupta (CA final student)     19 October 2007

Satya Narain Gupta
CA final student 
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Dear Mr Prakash and Komal both of you are very vigilant of social problem and devoted with huminity also. I am working as accounts officer in BSNL and doing work on RTI. I have registered for final course of CA. If any one to make himself a successful auditor he must work on RTI. This is good enactment specially help ful to us. Please use RTI to solve various social problems as we are not in position to present ourselves in court. If you want to keep in touch for professional upgradation every time I welcome you.

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Ankit Dangayach (Chartered Accountant)     19 October 2007

Ankit Dangayach
Chartered Accountant 
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I appreciate the efforts made by Komal for drawing our attention on this problem. Banks (Specially Private sector) give contract for recovering their dues to such persons which have sound & long history of commiting crimes and also the commission of these agents is based on net amount realised by them.So these agents often ignores the guidelines presribed by RBI for them.Code of conduct for such agents should further be strenthened .Besides this such code should be Properly Enforced as such people do not voluntarily abide by these code RBI should make a national database for Recovery agents and black list all such agents who use unlawful means to recover dues on behalf of banks.Besides this their should be provision for fast disposal of cases against such agents and severe punishment should be awarded to them. Banks who gave contract to such agents should also be penalized . Hope RBI will Look into this matter and take strict action

avater

Miss Komal Mantri (Chartered Accountant )     20 October 2007

Miss Komal Mantri
Chartered Accountant  
 38 likes  1974 points

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Hi Ankit... I really appreciate the ideas produced by you....but i m feeling petty bad that at this stage we cant do anything....we can only propagate the matter.... Hope RBI, SC and other authorities will take appropriate steps.... Thanks alot for providing ur views and spending ur valuable time for Humanity

avater

Prakash Popat   23 October 2007

Prakash Popat

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Foreign Banks are not behind in scoring on this grounds on accounts of sleeping judiciary.

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Satya Narain Gupta (CA final student)     23 October 2007

Satya Narain Gupta
CA final student 
 496 points

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Mr. Prakash, I think every private player is using the negligency of regulatory or judiciary body. As per my views every organisation must disclose every policy of organisation which is binding to every organisation under so many enactment of our Govt.


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