Draft norms for recovery agents seek higher accountability for banks
Last Update Date: 06-10-2026
Published by Business Standard
Abhishek Kumar's role: Quoted
Abhishek Kumar suggested that borrowers first ask their bank for a debt restructuring plan and, failing that, seek a settlement. He said talking to the lender early can stop a case from going to outside agents.
More of Abhishek's views on debt and loans
The article covers the RBI's draft rules on loan recovery, which would apply uniform conduct standards to all lenders, make boards accountable for recovery agents, require advance disclosure of agents, limit contact hours and pause recovery while a grievance is open. It also lists how borrowers can complain.
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Draft norms for recovery agents seek higher accountability for banks