Banks have engaged private agents to recover their bad loans. The recovery agents are obviously violent towards the borrowers.
There are incidents where the recovery agents have looted the houses of the defaulters.
There are also equal number of incidents where some borrowers have committed suicide due to unbearable pressure from the recovery agents.
The other day a 19-year-old girl committed suicide at Nandigama in NTR district when the recovery agents abused them for not paying the loan instalment.
On Friday, the recovery agents have made calls to Minister for Agriculture Kakani Govardhan Reddy asking him to repay the loan taken by someone who gave the Minister’s number as reference.
The Minister lodged a complaint with the Nellore police who arrested the recovery agent and the bank manager.
Shockingly, another call was made to former minister Anil Kumar Yadav, who threatened him of dire consequences if he failed to repay to loan availed by a person who had given Anil’s number as reference.
These recovery agents are becoming wild while collecting the loans from the borrowers.
The bankers offer certain commission to these agents for recovery of each loan.
Interestingly, some agents have floated agencies and are hiring people to make calls to the borrowers.
These hired persons, in turn get some percentage of money, for making calls and forcing the borrowers to repay the loans.
This network is spreading fast across the state with the banks offering mouth-watering commission.
