Page 2 - Debt Recovery

Digital transformation: E-lenders rely on tech, not recovery agents

The moratorium, announced in the wake of the pandemic, has put several digital lenders out of business, say people familiar with the matter

RBI fines Bajaj Finance Rs 2.5 crore for recovery agent harassment

Central bank says firm violated a specific direction to ensure full compliance with fair practices code in letter and spirit

Promoters of loan defaulting companies to soon face crackdown by lenders

With apex court's backing, banks to speed up enforcing personal guarantees

Adopt fair practices to prevent illicit debt recovery methods: RBI to ARCs

RBI asked ARCs to adopt a board-approved 'Fair Practices Code', which, among other things, should prohibit the use of uncivilised, unlawful and questionable behaviour for recovery of loans

Covid-19 pandemic may set back banks' recovery by years, says S&P

It also expects non-performing assets (NPAs) to hit a fresh high this year.

Individual insolvency rules: Breach of personal guarantee is quite severe

The law can help keep a check on instances where loans are given not on the basis of the debtor's creditworthiness, but because of a personal guarantor

Consumer forum isn't for debt recovery cases

The National Commission held that a consumer forum is not the right authority for Debt Recovery Tribunal cases, and dismissed the petition

Defaulters can't be given endless opportunities, warns Arun Jaitley

Close to 95,000 cases involving more than Rs 5 lakh crore are pending before debt recovery tribunals across the country

Stepping up debt recovery

Amendments in debt recovery laws bring the rules in line with the recently introduced Insolvency and Bankruptcy Code, though it will take some time before changes are seen on the ground