Conduct towards customer being integral to ethical business practices, it becomes the responsibility of everyone involved in the process to ensure that the guidelines on conduct are followed in both letter and spirit and the customer is treated fairly and respectfully at all times.
To ensure borrowers' protection from coercive recovery practices, new framework, also requires putting in place a mechanism for engagement with borrowers facing repayment related difficulties, prohibition on harsh recovery practices, extensive due diligence process for engagement of recovery agents and a dedicated mechanism for redressal of recovery related grievances.