Banks looking for recovery officers

Now banks are also looking to hire large number of recovery officers on contract basis to ensure soft recovery of loans, and this is a major step taken to counter increasing reports of high-handedness by private recovery agents.

Reserve Bank of India has recently warned banks that it would not hesitate to ban them from hiring recovery agents if abusive practices persisted.

State bank of India has already advertised for 3,000 marketing and recovery officers in the age group of 21-30 years