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Hema (Admin Asst.)     11 March 2013

Failed to pay personal loan

Dear Respected Members,

I have google and got this website and i will be happy to share my problem with u all.

I was having personal load from icici bank  worth rs 1 lack 90 thousand for my sisters marriege.

i was working with MNC company and due to some cirmastances i left job from there.Now i dont work anywhere i m a housewife.

I ve paid 25 month instalment and still 23 instalments are pending.The instalment was 5823 per Month.and the rate of intrest was 24%.

we used to stay in my fathers government quatress at Bandra,after hes sudden death we vacant the place by the order of fathers deparment. so we shifted to Virar on a rental basis.


ICICI bank have sent me legal notice arrest warrnat under 138 case,but because of change my address i havent got any .

After 2 years passed now suddenly the recovery agent calling me and harrasing my family over the phone.They called my husbund work place too and abuse him in very bad manners.Even they abuse hes receptionist and demand to resticate him from services.My husbund having good reputaion in office and he is shock by this harrasment.

Me and my Family is not having in position to repay the remaining amount.My husbund also living with me because he dont have home in mumbai.

The situation is very danger for me and i m mentaly disturb and cant sleep at night.

Can any one give me guidance?

Thanks and Regards

Hema Desai


 6 Replies

Kumar Doab (FIN)     11 March 2013

There are many threads at LCI involving ICICI bank and its recovery agents.

You may find these useful, e.g.:


Discussion > Civil Law > Harrasment by icici banks recovery agents

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     11 March 2013



The common notion is that recovery agents use threat or ‘goonda-gardi’ practices and harass clients to collect debts due. The RBI has recently issued draft guidelines that recovery agents and banks will have to abide by when collecting debts from their customers. The idea is to streamline the practices used by recovery agents and keep a tab on them.
The gist of the guidelines
  • Banks should approach Lok Adalats for small cases of outstanding consumer debts less than around $25,000 in the form of personal loans, credit card debts or other loans. This guideline is based on the suggestion made by the Supreme Court.

  • Banks are responsible for the actions of the recovery agents. Hence banks have to ensure that the recovery agents they hire follow RBI guidelines and the rules of the Banking Codes and Standards Board of India throughout the recovery process.

  • In cases where customers default on payments, banks are obligated to inform them about the details of recovery agents hired by the bank. A repossession clause should be included in the contract. Also customers should be given prior notice of the repossession in case of non-payment.

  • The Indian Banks’ Association (IBA) and the Indian Institute of Banking & Finance (IIBF) should conduct training courses for recovery agents in order to educate them about the preferred recovery practices. A minimum of a 100 hours of training is desirable.

  • Customers should not be harassed or abused during the recovery process. For example, customers may be contacted only on telephone numbers provided by them and not on any other number. Calls or personal visits may be made during decent hours only. No abusive language may be used with the non-paying customer.
RBI will take strict action against banks not complying with these guidelines.

jitendra yadav (ADVOCATE)     11 March 2013


 do one thing lodge complaint against them to the police for threatening call no matter whether you have taken loan or not. there are several other legal procedure to recover amount but threatening someone is against law.  and if there is any warrant pending against you, you should not wait for execution. go and get it cancelled in the court. 

Divya (nil)     12 March 2013

my family is a big victim of fraud done by kotak bank & i have taken the matter with District Court....You take all steps what u can....File a police complaint against them &  / or file a case under "Consumer Protection Act"" & /or Contact RBI.....These 3 things are useful:- if u need any help, tell me as ive mastered all policies & procedures what banks violate in cloak of their recvoery...

But pls dnt sit back.

Feel free to know...

Hema (Admin Asst.)     12 March 2013

Hi Divya,

Thanks for our helping words.Can you please tell me step by step proceder? I want to fight with them.

Also see the link which published in hindustan times,Banks wants to publish photos of defaulters.its shocking news


Awaiting for your reply


Hema (Admin Asst.)     12 March 2013

Thanks for our helping words.Can you please tell me step by step proceder? I want to fight with them.

Also see the link which published in hindustan times,Banks wants to publish photos of defaulters.its shocking news


Awaiting for your reply

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