Bank agents will no longer be able to harass customers for loan recovery. Reserve Bank of India (RBI) Governor Shaktikanta Das has taken a tough stand on Friday, expressing concern over this. He said that harassing the customer by the agents of the banks would not be tolerated.
RBI Governor today, said in a press conference, that the use of harsh methods including calling the customer from time to time, talking in rough language among others by agents for recovery of loans, is absolutely not acceptable. Banks have the right to recover the loan but no one should be troubled for this.
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Banks should follow adequate guidelines and should also be given guidelines regarding phone calls, especially from agents.
Disbursing digital loans to be more secure
Governor Shaktikanta Das said that the Reserve Bank of India (RBI) will soon issue guidelines to make the digital lending system safe and strong. He also expressed concern over how fraud is being done on the digital platform in the name of distributing loans with the people. However, to make people aware about this, RBI also issues guidelines from time to time.
Tolerating inflation, need of the hour
RBI Governor also spoke on rising inflation. He said that there is inflationary pressure not only in India but also in countries around the world including the United States and Europe. It is not a matter of anyone’s power to stop it suddenly and in that sense, tolerating high inflation is the need of the hour.
We stand by the steps taken so far and our decisions regarding this. He said that the Reserve Bank of India (RBI) has not lagged behind in taking policy steps to deal with this and give impetus to the country’s economy. “We are walking with the need of the hour,” he said.
No need for additional verification on payment of up to Rs 15,000
The Reserve Bank of India (RBI) on Thursday increased the verification limit for auto debit for any service or product through electronic means of cards, prepaid payment products and UPI from Rs 5,000 to Rs 15,000. This means that now there will be no need for additional verification for auto debit up to Rs 15,000.
With this facility, customers will get a lot of convenience and now they will be able to make auto payments up to three times the amount.
