Took loan from Upward Finance during 2021/22, the company hired an agency NBFC for installment recovery and the company took me into confidence and transferred all the contacts of my mobile phone to itself...and now this company She is harassing my relatives, friends, other people she comes in contact with by calling me continuously, abusing and threatening me.
Dear Mr. Anil Kamble, Upward Finance appears to be a registered non banking finance company NBFC offering personal loans. It seems that you applied for a loan on their Loan App. Have you received a copy of the loan agreement between you and the company? If not, please demand the same from the company. Are you regularly paying the instalments? If not, the lenders have every right to follow up for recovery either by themselves or by appoint recovery agents. However, RBI has laid down a code of conduct for these recovery agents. RBI master circular dated 1st July, 2015 directs the lenders to follow laid down guidelines under clause 2.6. Sub-section (iv) says that banks should send a letter to the borrower about appointment of recovery agents, their names, phone numbers, etc.; and that the calls by these recovery agents to the borrowers should be recorded. The circular also talks about the behaviour of the recovery agents. Write a mail to [email protected] and to [email protected] regarding the harassment by the recovery agents and demand recorded calls as per RBI guidelines. If there is no response, you may escalate the matter with RBI Integrated Banking Ombudsman Scheme and also lodge a complaint with the police station in your locality. Please, however, note that you will have to adhere to the repayment schedule as per the loan agreement. If you are facing any problems in repaying the loan, you should directly talk to the company.
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