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............................................................................................................................. Description Retail lending has increased phenomenally in the commercial banking sector in recent years. As commercial banks shifted their focus from traditional need-based lending to a broad-based portfolio, retail lending became a mainstream business. There has been a rapid growth in consumer loans, housing loans, credit cards and personal loans (including credit cards) in urban and metropolitan areas. Most banks engage debt recovery agents for collection of their dues to avoid rising NPAs. Taking into account the job profile of Debt Collection/Recovery Agents, this courseware has been developed. This book contains knowledge inputs on the collection/recovery function including basic information and principles underlying credit collection, procedures involved in the collection function, codes to be adopted by recovery agents etc. with valuable tips, techniques, illustrative real-world examples, and best practices on the issue. The book is useful to students and bankers alike. ............................................................................................................................. Contents 1. General Banking Objectives 1.1 - Introduction 1.2 - Bank 1.3 - Structure of Indian Banking System 1.4 - Functions of Banks 1.5 - Deposit Accounts - General aspects 1.6 - Operations in Deposit Accounts (of various types of customers) 1.7 - Types of Deposits 1.8 - Some important terms 1.9 - Cheques 2. Banker-Customer Relationships 2.1 - Introduction 2.2 - Different types of banker-customer relationship 2.3 - Bank's obligation to maintain secrecy of accounts 2.4 - Precautions to be adopted while disclosing the information 2.5 - Furnishing of opinion : Important aspects 3. Anti Money Laundering and Know your Customer 3.1 - Introduction 3.2 - Steps taken by the Government of India 3.3 - Money laundering, stages and types 3.4 - Role of banks 3.5 - Key elements of KYC guidelines are 4. Credit Cards 4.1 - Introduction 4.2 - Cards 4.3 - Advantages of a credit card 5. Retail Loans 5.1 - Introduction 5.2 - Housing Loans 5.3 - Vehicle Loans 5.4 - Loans for purchase of consumer durables 5.5 - Consumption (Personal) Loans 5.6 - Overdrafts 5.7 - Credit Card Dues 6. Asset Classification 6.1 - Introduction 6.2 - Definition of NPA 6.3 - Standard Assets 6.4 - Sub-Standard Assets 6.5 - Doubtful Assets 6.6 - Loss Assets 6.7 - Asset classification in buckets 7. Debt Recovery Agent - Meaning and Legal/ Regulatory Framework 7.1 - Retail Loans - Present Scenario 7.2 - Segments and target groups of retail loans 7.3 - Growing NPAs in Retail Loans 7.4 - Debt Recovery Agent 7.5 - Collection and Recovery : Distinction 7.6 - Debt Collection/Recovery Agencies 7.7 - Legal and Regulatory Framework for Debt Recovery 7.8 - Legal Aspects of Agency Contract 7.9 - Features of Debt Recovery Arrangement 7.10 - RBI's draft guidelines dated 30-11-2007 8. Functions of Debt Recovery Agents 8.1 - Introduction 8.2 - Collecting dues receivables 8.3 - Remitting Collected Funds 8.4 - Book Keeping 8.5 - Documenting and Reporting 8.6 - Re-possessing Security 8.7 - Initiating Legal Action 8.8 - Tracing Debtors 8.9 - Compiling Opinion Reports 9. Policy, Process and Procedure of Debt Recovery 9.1 - Introduction 9.2 - Debt Recovery Policy 9.3 - Debt Recovery Processes 9.4 - Normal Recovery Procedure 9.5 - Certain important points for debt recovery 9.6 - A Case Study 10. Soft Skills and Strategies for Debt Recovery 10.1 - Introduction 10.2 - Communication Skill 10.3 - Listening Skill 10.4 - Inter-personal Skill 10.5 - Persuasive Skill 10.6 - Negotiation Skill 10.7 - Dealing with Difficult Debtors 10.8 - Strategy for Recovery 10.9 - Credit Counseling 10.10 - Telephone Collection Calls 11. Rights and Duties of Recovery Agents 11.1 - Introduction 11.2 - Right to Remuneration 11.3 - Right to Retainer 11.4 - Right to Compensation 11.5 - Right to Indemnity 11.6 - Duty to follow instructions 11.7 - Duty to follow Trade Customs 11.8 - Duty to exercise care and skill 11.9 - Duty to Communicate 11.10 - Duty to Render Accounts 11.11 - Duty to Remit Money 11.12 - Duty not to delegate 11.13 - Duty of confidentiality 11.14 - A Case Study 12. International Best Practices on Debt Recovery 12.1 - Introduction 12.2 - Practices in USA 12.3 - Practices in UK 12.4 - What debt collectors cannot do 12.5 - What debt collector should do? 13. Fair Practices Code for Debt Collection 13.1 - Introduction 13.2 - Applications for loans and their processing 13.3 - Loan appraisal and terms/conditions 13.4 - Disbursement of loans including changes in terms and conditions 13.5 - Post disbursement supervision 13.6 - General Appendix 1 : Case laws - Repossession of securities Appendix 2 : RBI's Draft Guidelines on Recovery Agents by Banks Appendix 3 : IBA - Model policy on collection of dues and repossession of security Appendix 4 : Code of Conduct - Debt Recovery Agents Appendix 5 : Fair Practice Code for Credit Card Operations Annexures • Glossary of Banking Terms • Gist of Reserve Bank of India's Revised and Final Guidelines • Some of the Important Cases Dealt • Banking Codes and Standards ............................................................................................................................. Author Details Indian Institute of Banking & Finance (formerly The Indian Institute of Bankers) was established in 1928. With more than 650 Institutional members and over 2.5 lakh individual members, it is the largest Institute of its kind in the world and is working with a mission "to develop professionally qualified and competent bankers and finance professionals primarily through a process of education, training, examination consultancy/counselling and continuing professional development programme". The Institute has almost all the banks and financial institutions, public sector, private sector, foreign, cooperative, regional rural banks as members in addition to IT companies and individuals working in the banking and finance sector. The Institute is managed by a Governing Council consisting of Chairmen of different banks and eminent academicians. It offers a number of professional courses in banking and finance. The flagship programs of the Institute are JAIIB and CAIIB. Other specialized courses are 'Diploma in Treasury, Investment & Risk Management', 'Diploma in International Banking', 'Diploma in Banking Technology', Diploma in Banking & Finance and 'Post Graduate Diploma in Financial Advising'. The institute offers many certificates and management courses also. These programs aim at building skill sets and developing the competence among specialist officers of banks and financial institutions. .............................................................................................................................
