Recovery agent
A person from an outside agency hired by a bank or NBFC to collect overdue loan payments, bound by RBI's rules on conduct.
A recovery agent collects overdue loan payments on behalf of a bank or NBFC. The lender must tell you which agency has your case, and the agent should carry identity proof and the lender’s authorisation letter. RBI rules limit calls to between 8 am and 7 pm and ban threats and harassment. Read the full rules, and where to complain, in loan recovery agent rules.
Questions people ask
What is a recovery agent?
A recovery agent works for an outside agency that a bank or NBFC hires to collect overdue loan payments. The lender remains responsible for the agent's conduct under RBI's rules.
What time can a recovery agent call?
RBI's 2022 circular bars recovery calls before 8 am or after 7 pm. From 1 January 2027, new directions for banks and NBFCs allow contact or visits only between 8 am and 7 pm, unless the borrower asks for another time.
Can a recovery agent threaten me?
No. RBI rules ban intimidation and harassment of any kind, including threatening or anonymous calls, false claims, public humiliation and contacting family or friends to embarrass you. Complain to the lender, then the RBI Ombudsman, and to the police for threats.
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