An NBFC in Ajmer harassed me for loan repayment, what are my rights?
SN Asked by Sneha Iyer from India
Quick Answer
NBFCs are regulated by the RBI and must follow fair practices as recognized under Rajasthan Rent Control Act 2001 for consumer protection.
Detailed Legal Analysis
NBFCs are regulated by the RBI and must follow fair practices as recognized under Rajasthan Rent Control Act 2001 for consumer protection. The Rajasthan High Court has held that coercive recovery tactics by NBFCs constitute deficiency and harassment.
In Ajmer, you can file a consumer complaint and a complaint with the RBI ombudsman. The Rajasthan High Court has directed NBFCs to follow due process and refrain from threats or public shaming.
Under Rajasthan Rent Control Act 2001, the consumer commission can award compensation for mental agony caused by recovery agents. You should record all calls and preserve messages as evidence for your complaint in Ajmer.
Disclaimer: AI-generated for educational purposes only. Does not constitute legal advice. Consult a qualified practitioner.