The number of people suffering from the arbitrary and misbehavior of loan recovery agents is very high. Despite all the efforts of the government and RBI, such cases are not decreasing. In one such recent case related to loan recovery, the victim has received the support of the Finance Minister.
Loan recovery agents are harassing
A social media user named Madhav shared on X that he was being harassed by a loan recovery agent. The user also tagged the Finance Ministry and the office of Finance Minister Nirmala Sitharaman with his X post. Finance Minister Nirmala Sitharaman took cognizance of the user’s complaint and directed the Department of Financial Services to immediately investigate the matter.
The matter is related to Navi Finance
The user wrote in his post- There is a finance app named Navi Finance, which is harassing me, even though I have not taken any loan from them. Someone has taken a loan from them and given my number, that too without my knowledge. Please help. I am getting continuous calls and am being tortured. The recovery agents are talking in abusive language.
DFS gave this update
The Finance Minister took cognizance of the post and asked DFS to investigate. The Department of Financial Services replied to the post and said that it had raised the issue with Navi Finance and asked them to take appropriate action. The matter is expected to be resolved soon. On inquiry, it was found that the person had not taken any loan from Navi Finance, but even then the recovery agents were calling him.
The issue was also raised in the Lok Sabha
The Finance Minister has earlier also taken a tough stand on the actions of recovery agents. Last year, while talking on this issue in the Lok Sabha, she had asked all the public and private banks to avoid taking strict measures in loan recovery. At that time, she had said that she was receiving complaints of banks being insensitive in loan recovery. After that, the government has given instructions to the banks through RBI.
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