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Loan Recovery Norms of NBFCs Must Be Fair, Respectful: FM
The Daily Guardian
|July 11, 2025
I know for you it's important and it's part of your duty, but it's not part of your duty to be heartless, says Sitharaman
Union Finance Minister Nirmala Sitharaman emphasized that the loan recovery practices of Non-Banking Financial Companies (NBFCs) must be fair, respectful, and empathetic, and must strictly align with the Reserve Bank of India's (RBI) Fair Practices Code.
Speaking at the NBFC Symposium 2025 held in New Delhi on Wednesday, the minister urged NBFCs to avoid harsh recovery measures, especially in cases involving small loan amounts, and reminded them of the importance of customer dignity.
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