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Loan Recovery Agents: Operating Amid Many Shades Of Grey
In the absence of clear guidelines, debt recovery agents tread a fine line between assisting lenders and harassing borrowers.
13 Jan 2021, 08:43 AM IST
Thirty-four-year-old Pallav, after quitting his job as a coal miner in Meghalaya, decided to become a loan recovery agent in 2012 on the recommendation of an old friend who did the same work. Today, he runs his own collection agency in a small town in Assam, not very far from Guwahati, that recovers loans for public-sector lenders across the state.Pallav, who asked that his full name not be disclosed for security reasons, advises his...
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