Class 12 topper dies by suicide due to harassment by loan recovery agents- know how to save yourself from such threats

A 17-year-old girl and Class 12 topper allegedly committed suicide by hanging herself at her home in Rythupet, Nandigama town of Andhra Pradesh, due to harassment by loan recovery agents.

The girl identified as Jasthi Haritha Varshini was the topper in the intermediate exam an has also secured a good rank in the EAPCET examination.

The victim's family had borrowed Rs 3.5 lakh loan using a credit card from a bank to meet the expenses of her education but the family coul not pay the dues and recovery loan agents started harassing them.

Upset and depressed with the harassment the girl decided to end her life by hangingherelf with a saree at her residence.She left a suicide note mentioning that her parents are not in a good financial position to afford her higher education.

Kanaka Rao, the inspector-in-charge of Nandigama Police Station said they have received a complaint regarding the and have registered a case.

Meanwhile, seven people have been arrested in the alleged suicide case.

Few months ago, a 38-year-old man hanged himself to death after recovery agents of an instant loan app sent his morphed nude photos to his colleagues, relatives and friends. The incident took place in Malad (East).

In another similar incident, a 40-year-old realestate agent allegedly committed suicide, claiming harassment from loan and credit card recovery agents in the western suburb of Dahisar district in Mumbai.

What to do if loan recovery agents bothers you?

If someone is harassed by the bank or the recovery agent, then the victim can resort to the police station and can file a complaint. This must be a primary move before takingmore stringent action.

If there is no relief from the police or they do not file the case, then the individual can even move to the civil court and can plead fro relief. The court in such cases can rule in ffavour of the client and can order the agent not to resort to unauthorised and illegal conduct. It can also provide a middle path that can be beneficial for both parties.

What does RBI say?

Reserve Bank of India (RBI) can take strict measures for ensuring that the loan recovery agent should not follow illegal conduct.

As per para 2.5.4 of the circular, it states that the complaints received by Reserve Bank regarding violation of the guidelines and adoption of abusive practices followed by banks’ recovery agents would be viewed seriously.

Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period.

In case of persistent breach of guidelines, Reserve Bank may consider extending the period of ban or the area of ban.