CODE OF CONDUCT FOR THE RECOVERY AGENTS

The DRA and his employees are not “employees of the Company” and there exist only a relationship of Principal and Agent between the Company  and Agent.

 “Agent” for the purpose of these guidelines would include Agencies/Firms engaged by the Company and the employees of the concerned agencies/firms who are duly appointed by such agencies/firms for carrying out the job of overdue collection . 

1. The DRA in whose name the appointment letter is issued will ensure that he does not employ any individual having criminal record and/or persons having criminal proceedings pending against them in any Courts or Police Station at any point of time. A thorough check of the background including that of police verification of the employees who will be assigned with the task of collection of outstanding dues from the defaulting customers of the Company, has to be carried out by the DRA before they are assigned with the job . A confirmation letter to that effect from the respective DRA should be taken prior to engaging the personnel earmarked for the recovery job. 
   
   
2. The  DRA should furnish  list of personnel earmarked for the recovery job of the Company together with their photographs, telephone numbers and their residential address. Should there be any change in the personnel in future, the same is to be intimated to the Company within 24 hours by the Recovery Agent together with the photograph, residential address, contact nos. as well as background check and police verification of the new employee.
   
   
3. As and when the Indian Institute of Banking and Finance (IIBF) introduce the course of 100 hours training which are mandatory for the Recovery Agents, the DRA and all his employees, assigned with the job of collection of overdues from the defaulting customers of the Company shall have to undergo such training . The existing DRA and his employees will have to produce the certificate of undergoing such training as required by NHB within a span of 1 year from the date of introduction of the training scheme in order to continue to be on the panel of the Company for carrying out the function of recovery of overdues.
   
   
4. The DRA should issue identity cards to its employees in our approved format, who will be assigned with the task of collection of overdues from the defaulting borrowers of the Company and the same will have to be shown to the customers of the Company when the employees call on them. 
    
5. The DRA should also carry a copy of the notice and the authorisation letter from the Company along with the Identity Card issued to him by the agency firm containing details of the agency including telephone numbers while meeting the defaulting customers of the Company.
   
   
6. The DRA and his employees entrusted with the job of collection of dues must ensure that no payments are received in cash. All payments are to be made by cheque/demand drafts and should invariably be in favour of the Company and the same should be deposited to the Area Office/Back Office within 24 hours of its collection.
    
7. The DRAs  should know that  upon their appointment as Recovery Agent for the Company, his/her name or the name of the Firm (as the case may be) will be published in the website of the Company to make it known to the public at large of his/their authority to collect the outstanding dues on behalf of the Company. Similarly, upon his/her termination, the same will be reflected in the website as well so that the public is informed of not to deal with such Recovery Agents.
   
   
8. The DRA and his employees entrusted for the job of collection of overdues of the Company from its defaulting customers, should  document all calls made to the defaulting borrowers by the recovery agency with time and number along with a brief noting on the outcome of the call.
   
   
9. The DRA and his employees will be required to follow the law of the land and shall always maintain a decorum while visiting the defaulting borrowers and shall not misbehave with the customers of the Company or engage in any conduct or practice which violates any applicable local, state or union laws or indulge in any uncivilized, illegal or criminal act while following up with the defaulting customers for the recovery of the outstanding dues.
   
   
10. The DRA and his  employees should contact the defaulting customers of the Company  between 7 hrs to 19 hrs, unless the specific circumstances requires otherwise, ordinarily at the place of his/her choice and in the absence of any specified place, at the place of his/her residence and if not available at that place then the place of business/occupation. However, if after a reasonable attempt it is found that the borrower cannot be contacted or  that the borrower is avoiding to meet the persons of the recovery agency, the DRA will have the liberty to contact the borrower at any place wherever he can be contacted.  
    
    
11. The DRA and his employees should honour as far as possible the customers request to avoid calls at a particular time or at a particular place inconvenient to the borrower, for a reason to be upfront disclosed by him However, such request shall not be encouraged from regular defaulters.
     
12. The DRA and his employees  should respect the Customers privacy and the interaction with him should be in a civil manner. Inappropriate occasions such as bereavement in the family or such other calamitous occasions should be avoided for making calls/visits to collect due for a reasonable period.
    
    
13. If any complaint is received against the DRA, the Company will not forward any cases to such Recovery Agents till the complaint is finally disposed off. However, where the Company is convinced with appropriate proof that the borrower is continuously making frivolous/vexatious complaints, it may allow the DRA to continue with the recovery proceedings even if a grievance/complaint is pending against the Agency.
    
    
14. The DRA or any of his employees are not authorized to use the name and/or trademark and/or logo of the Company in any sales or marketing publication or advertisement in any manner without prior written consent of the Company.
    
    
15. The DRA or any of his employees will in any way not represent the Company except for collection of dues. They are not permitted to give any commitment whatsoever with regard to waivers, extension of time period for payment of dues etc. to the defaulting customers.
    
    
16. The DRA and his employees will ensure that any information given to them in respect of the defaulting borrowers are to be kept as Confidential and the same shall not be misused by the DRA or his employees entrusted with the job of collection of dues from the defaulters.
    
    
17. The DRA shall not enter into any Agreement with contractors/sub-contractors in connection with the intent of sub-contracting the assignment for the services required to be provided by the DRA as per the terms of the appointment.
    
    
18. The DRA shall compensate the Company for any loss and/or damage caused to the Company as a consequence of any misconduct, illegal and/or criminal act or negligence on his part. In the event of such a claim, the Company shall be entitled to realize the same from the future or outstanding payments due to the DRA.