Do you know that a Bank Debt Recovery Agent has to pass an IIBF Examination?

            

Debt Recovery Agents are part of the financial space all over the world. The Lenders turn too specialized teams for recovery of their Non-Performing Assets.

            Over the years, due to various factors, Indian Debt Recovery Agents become very aggressive. Reserve Bank of India was flooded with customer complaints on the rude behavior by the Debt Recovery Agents.

            To bring in professionalism into the Debt Recovery process, Reserve Bank of India, in paragraph 172 and 173 of the mid-term review of the Annual Policy for the year 2007-08, announced the guidelines for Debt Recovery Agents engaged by Banks.

            Reserve Bank of India has advised the Indian Banks' Association to formulate, in consultation with Indian Institute of Banking and Finance (IIBF), a certificate course for Debt Recovery Agents who have undergone 100 / 50 hours of training.

The existing recovery agents had to within a period of one year had to undergo the above training and obtain the certificate from IIBF.

Going ahead, the service providers engaged by Banks / NBFCs should employ only such personnel who have undergone the above training and obtained the certificate for the purpose of recovery from IIBF.

The course has been designed through a consultative process with senior executives of Indian Banks Association (IBA) and banks.

Despite RBI guidelines, significant number of banks’ recovery agents harasses defaulters the age-old way.

Adhikrut Jabti Evam Vasuli Managed by TEAM OF YOUNG WOMENS came into operation in the year 1998

IIBF – All fees received vie Safe ePayments only

            Indian Institute of Banking and Finance has become 100% ePayments Motivator. Do not believe this. Well, go on to this IIBF Announcement and read for yourself.

            Now, you don’t tell me that you do not have a valid ePayment tool (credit/debit card/online banking ID) with you!!!

            IIBF, with the adoption of ePayments, will be able to reduce the TAT in the exam processing cycle.  This would in turn lead to introduction of new courses relevant to the present Banking scenario.

            The exam and registration fees can be paid at this link.

            I am sure, in the near future, the fees can be paid via other ePayments modes too, i.e Immediate Payment Service, Prepaid Cards etc.

            So, go ahead and save time, by making the fees payment online.

            Savings in cost for the respective Banks, as majority of the IIBF courses are taken by Bank employees only.

No need to stand in queues to purchase DD’s or deposit cash in Axis Bank, and again dispatching the Demand Draft, Pay-in Slip to the respective regional office.

            No need to worry, if your Demand Draft, Pay-in Slip has reached IIBF office, and eagerly wait for the Exam Hall ticket.

            Thanks, IIBF.

Disseminated by Prashant N. Banker by daytime, Blogger by Night.