Banking · Loan Recovery Guidelines
Which of the following is a key operational step for loan recovery through recovery agents?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Recovery agents report only to RBI.
- 2Recovery agents have the authority to seize collateral without notice.
- 3Banks must provide clear instructions and monitor agents' activities.✓
- 4Recovery agents can charge any fee from borrowers.
Correct answer
Banks must provide clear instructions and monitor agents' activities.
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