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BIDHURANJAN   30 July 2017

Icici bank loan collection team harashment call

Dear All,

I had taken a personal loan from ICICI bank Bangalore.I Could not pay last 7 Emis because i was not in job. Last month Officer Santosh Called me from Bangalore and told me that i have to close the loan on settlement basis. i told that i can arrange and pay the overdue emis and continue the loan. but he told its not possible.I had to agree for settlement they gave me a settlement amount of RS 140230.00 and last date of payment was 31st July. But i couldn't arrange that amount. I approached the local Asset service department in Bhubaneswar. They told i can pay the overdue amount of 42920.00 and continue the future EMI. And the settlement letter will be cancelled. So anyhow i have arranged 42920.00 and paid in ICICI Bank on 28th July 2017. After payment i called Mr Ramchandran S R and told the same thing and he agreed to that. Suddenly on 29th July Person named Ranjith from Ramchandran's team called me spoke to me very harshly and told to make the full payment. I clearly told i dont have that much of money. I called Mr Ramchandran and told about this.. he also told the same thing to pay. and Mr Ranjith started calling my family and my In laws which is not completely unprofessionaly.Suddenly Ranjith called my wife and spoke very unprofessional. As per Banking Code of conduct they should not call anyone else apart from me. i am answering their calls then why they are calling others, for this reason My wife is giving divorce to me. I am in a very critical condition now for this issue.I dont understand your bank rules and regulations.These guys call every time and speak in harsh and unprofessional ways giving direct threat. Please do the needful.. My family life has gone because of these guys phone calls. i dont want other should face the same problem. I have paid the overdue and will continue paying the future EMI. If i am not paying then go thru legal process. Anyone please help me on this.


 5 Replies

Ms.Usha Kapoor (CEO)     31 July 2017

The hon 'ble supreme coiurt has laid down certain guidelines regarding loan recovery agents of banks  and customers of banks regarding recovery agents abusive behaviour towards bank's customers.

12. A more comprehensive version of these Guidelines was recently released on April 24, 2008. The Guidelines expressly reference the 5.5.2003 Guidelines at (i)(x) with regard to the methods by which recovery agents collect on security interests. In addition, the April 24, 2008 Guidelines further referred paragraph 6 of the "Code of Bank's Commitment to Customers" (BCSBI Code) pertaining to collection of dues.

The BCSBI Code at para 6 inter alia provides:

"All the members of the staff or any person authorized to represent our bank in collection or/and security repossession would follow the guidelines set out below:

  1. You would be contacted ordinarily at the place of your choice and in the absence of any specified place at the place of your residence and if unavailable at your residence, at the place of business/occupation.
  2. Identity and authority to represent would be made known to you at the first instance.
  3. Your privacy would be respected.
  4. Interaction with you would be in a civil manner.
  5. Normally our representatives will contact you between 0700 hours and 1900 hrs, unless the special circumstances of your business or occupation require otherwise. 8
  6. Your requests to avoid calls at a particular time or at a particular place would be honored as far as possible.
  7. Time and number of calls and contents of conversation would be documented.
  8. All assistance would be given to resolve disputes or differences regarding dues in a mutually acceptable and in an orderly manner.
  9. During visits to your place for dues collection, decency and decorum would be maintained.
  10. Inappropriate occasions such as bereavement in the family or such other calamitous occasions would be avoided for making calls/visits to collect dues.

As noted above, this Code as well as others has been incorporated into the April 24, 2008 Guidelines:

"(ix) A reference is invited to (a) Circular DBOD.Leg.No.BC.104/ 09.07.007 /2002-03 dated May 5, 2003 regarding Guidelines on Fair Practices Code for Lenders (b) Circular DBOD.No.BP. 40/ 21.04.158/ 2006-07 dated November 3, 2006 regarding outsourcing of financial services and (c) Master Circular DBOD.FSD.BC.17/ 24.01.011/2007- 08 dated July 2, 2007 on Credit Card Operations.

Further, a reference is also invited to paragraph 6 of the 'Code of Bank's Commitment to Customers' (BCSBI Code) pertaining to collection of dues. Banks are advised to strictly adhere to the guidelines / code 9 mentioned above during the loan recovery process."

[emphasis supplied].

13. RBI has expressed its concern about the number of litigations filed against the banks in the recent past for engaging recovery agents who have purportedly violated the law. In the letter accompanying its April 24th, 2008 Guidelines on Engagement of Recovery Agents, RBI stated: "In view of the rise in the number of disputes and litigations against banks for engaging recovery agents in the recent past, it is felt that the adverse publicity would result in serious reputational risk for the banking sector as a whole." RBI has taken this issue seriously, as evidenced by the penalty that banks could face if they fail to comply with the Guidelines. The relevant portion of the Guidelines formulated by RBI is set out as under:

"3. Banks, as principals, are responsible for the actions of their agents. Hence, they should ensure that their agents engaged for recovery of their dues should strictly adhere to the above guidelines and instructions, including the BCSBI Code, while engaged in the process of recovery of dues.

4. Complaints received by Reserve Bank 10 regarding violation of the above guidelines and adoption of abusive practices followed by banks' recovery agents would be viewed seriously. Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period. In case of persistent breach of above guidelines, Reserve Bank may consider extending the period of ban or the area of ban. Similar supervisory action could be attracted when the High Courts or the Supreme Court pass strictures or impose penalties against any bank or its Directors/ Officers/ agents with regard to policy, practice and procedure related to the recovery process.

5. It is expected that banks would, in the normal course ensure that their employees or agents also adhere to the above guidelines during the loan recovery process."

14. We deem it appropriate to remind the banks and other financial institutions that we live in a civilized country and are governed by the rule of law.

15. Looking to the gravity of the above allegations, we expect that the matter will be investigated as expeditiously as possible and, in any event, it must be concluded within a period of three months and, thereafter, the concerned Deputy Commissioner of Police is directed to submit the report of the investigation in the 11 High Court.

16. In the facts and circumstances of this case we direct the appellant to pay costs of this litigation to the respondents which is quantified as Rs.25000/-. The costs be paid within three weeks. We direct that the matter be listed before the High Court after the report of the Deputy Commissioner of Police is filed.

17. This appeal is accordingly disposed of.


(Tarun Chatterjee) ...............................J.

(Dalveer Bhandari) New Delhi; Back



1 Like

Ms.Usha Kapoor (CEO)     31 July 2017

IIf you appreciate the above answer plesase clicklike button.

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BIDHURANJAN   31 July 2017

Dear Maam

I have complaint in banks Greviance . still no respond from their side. Please Advice me how to go about it ...

Ms.Usha Kapoor (CEO)     31 July 2017

take it to the higher management along with your employees union.Your grievence may be redressed.IF you appreciate this suggestion please click like button once again.


Ms.Usha Kapoor (CEO)     31 July 2017

Now that I'v e Provided you with all the information you want would you mind clicking like button  once again?.

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