Harrasement by banks collection/recovery people

Dear Sir, We have associated with our business since last 40-50 years and have earned a lot of respect and name. We took some loans in 2013 and have been paying them regularly. Few months back we suffered huge setback in business and hence are not able to repay the loans. Our intention is to pay these but business situation in not helping us. Now these bank representatives are harassing us, visit our house and try to intimidate my family and staff. Please advise Wat to do and going ahead what should be the legal recourse to handle this situation. We are trying our best to improve finances.

Answers (1)

80 votes

You need to file a complaint with the local police station and with the Reserve Bank of India as well which regulated the banking sector as such conduct is clearly prohibited by the RBI. If the problem persists then you could approach the magistrate to have a FIR registered against these persons. If I could be of any further assistance in the matter do let me know.

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