Policy ID: PCI/POL/13/2026-27 • Version 1.0 Owner: Collection Head / Legal • Approver: Board of Directors Sources: RBC, OUT, STR • Review: Annual / regulatory change
Purpose and application
Employees, DSAs, recovery agents and secured enforcement.
1. Respectful contact:- Communicate accurate dues and payment options privately. No intimidation, public humiliation, threats, anonymous calls or disclosure to unrelated persons. Overdue recovery calls shall not be before 8 a.m. or after 7 p.m.; stricter product-specific rules shall prevail.
2. Authorized agents:- Perform due diligence, training and periodic conduct reviews. Give agents identification and written authority; inform borrowers of agent details as required. Pay agents through Company channels and investigate misconduct promptly.
3. Collections and hardship:- Receipt every payment and reconcile posting; never collect in personal accounts. Assess genuine hardship, restructuring or settlement only through approved authority. Obtain written terms and accurately report credit status without promising score deletion.
4. Repossession and disposal:- Enforcement requires Legal confirmation of security, contract and statutory eligibility. Serve required notice, permit cure/final payment opportunity, document possession/ inventory, obtain fair valuation and conduct lawful sale. No force or unsupported SARFAESI claim is permitted.
5. Closure and monitoring:- Provide a sale proceeds/dues statement, refund surplus and pursue lawful shortfalls. Release documents on closure as applicable. Monitor complaints and agents monthly; serious incidents go immediately to management and quarterly to the Board.
Source codes are linked to the Reference Register. Read with the common implementation controls and relevant annexes. Applicable law and RBI Directions prevail.