Posted on: 26-06-07 09:52:03
http://www.samachar.com/showurl.php?rurl=http://www.ibnlive.com/news/despite-sc-ban-killer-loan-recovery-agents-on-prowl/top/43620-7.html?xml&news=Despite%20SC%20ban,%20`killer`%20loan%20recovery%20agents%20on%20prowl&pubDate=Tue%2C+26+Jun+2007+19%3A07%3A25++0100&keyword=ibn_home
"Hyderabad: Bank loans are not only a nagging worry in your day-to-day life, they can even put your life at risk.
This is precisely what Hyderabad resident Y Yadaiah's family realised when the recovery agents of the local branch of ICICI Bank allegedly beat the 42-year-old Andhra government employee to death while trying to recover a loan of just Rs 15,000."
Another one that I read today ...
http://www.mid-day.com/news/city/2007/september/164314.htm
Prakash Sarwankar (38) died a broken man. Sarwankar’s suicide note tells a poignant tale of how he was mentally harassed by the recovery agents of ICICI Bank. In the suicide note in Marathi, Sarwankar wrote that the agents told him, “If you cannot repay the bank loan of Rs 50,000, sell off your wife, your kids, yourself, sell everything at your home.
Even then if you cannot not pay back the due amount, then it’s better if you commit suicide. But you dare not dupe the bank.”
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Totaly Flabbergasted. How can they work like this? Horrible.
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Mumbai Maazi Ladki ...
That's how ICICI works. They outsource the loan collection work. Agents (goons) dont work for the bank. They get a cut in the collection amount, just like the collection agencies get the cut from the credit card companies.
DIO
This is the only system which will work in India.
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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership
Some people are planning from the begining not to pay back, approach the banks and get loans.
How to collect money from such types of people?
Not only ICICI Bank, some other banks in India also engaging Agencies(goondas) to collect dues.
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Bala
In some cases, bank staff are also involved. They have a cut in the money they give out. Its a scam.
DIO
Quote:
Originally posted by balaq8
Some people are planning from the begining not to pay back, approach the banks and get loans.
How to collect money from such types of people?
Not only ICICI Bank, some other banks in India also engaging Agencies(goondas) to collect dues.
I know what you are talking about. But this is not the way to Treat. If you have problem, don't lend them. Make System better to Identify such people before hand. But no Way one can justify such acts.
One more loan recovery gone bad
http://www.mid-day.com/news/city/2007/september/164368.htm
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Mumbai Maazi Ladki ...
