The city police which has managed to piece the incident together found that on April 25th, borrower had hit the recovery agents when the latter went to collect the ‘minimum dues’ fearing that the account was in the potential NPA stage. Subsequently, the accused returned and attacked the borrower.
Two FIRs have been registered in the matter. One against the borrower under the sections including those of causing hurt under BNS and the other against the three arrested accused for extortion and criminal intimidation said Pune police commissioner, Amitesh Kumar.
In parallel, the Reserve Bank of India has sought an explanation from IndusInd Bank regarding the incident occurred in Pune’s Hadapsar area and the apparent lapses in compliance with regulatory guidelines by its recovery agents, people familiar with the matter said.
Police have registered an FIR and arrested the accused on charges including extortion, assault and criminal intimidation.
Authorities are scrutinising the bank’s credit card sanctioning and recovery processes, as well as its oversight of third-party collection agencies. “This is being examined seriously. Banks are responsible for the conduct of their recovery agents, and any deviation from prescribed guidelines will invite supervisory action,” a person familiar with the matter said.
IndusInd Bank said it is deeply concerned about the incident and regretted the distress caused to the customer. “The bank has initiated an immediate review and is verifying the facts while extending full cooperation to the authorities in their ongoing inquiry,” it said.The RBI did not respond to a query until press time on Tuesday.
The incident came to light after a video of the alleged assault went viral on social media, showing agents beating the borrower while a woman attempted to intervene.