The Bank Loan Recovery Rules outline the guidelines and procedures banks follow to recover unpaid loans from borrowers. These rules are framed by regulatory bodies to ensure fairness, transparency, and legal compliance during the recovery process. Methods include reminders, restructuring options, legal notices, or seizing collateral. Recovery agents must adhere to ethical practices, avoiding harassment or intimidation. Banks must respect borrower rights while safeguarding their financial interests. Proper implementation of these rules ensures equitable debt resolution and financial system stability.
