So, is it not becoming a worry that openly attacking recovery agents could weaken that fibre?
Again, it is inappropriate to say that the banking regulators” responsibility is to particularly ensure that banks get the money back. Actually, the responsibility is to make sure that the banks lend responsibly, get the money back responsibly and the terms are reasonable. >More importantly, remember that the banks are licensed to accept non-collateralised deposits, which are highly leveraged. It is a license that has been given and that license means that the people have faith in a bank. That is why banks get special exemption from acts like Usurious Act, which are in terms of protection to the customer. So, there is a moral responsibility on the banking regulator to ensure that there is a symmetrical treatment between the lender and the borrower. >The recovery agent is a new phenomenon. Essentially, recovery agent is an agent and the principal has to be held responsible for whatever the agent does. What all we are saying is that we are indulging in things that are not civilised and
