Saibal Chatterjee (name changed) wanted to set up a business to make ends meet after retirement. He sought a loan of Rs 25,000 from a private bank, which was granted.

After he missed a few equated monthly instalment (EMI) payments, he started receiving threat calls at his PM Roy Road residence in Chetla.

Then, a group of youths sent by the bank roughed him up for defaulting. Rattled, Chatterjee lodged a complaint with Chetla police station, leading to an arrest.

The growth in loan disbursal by banks has coincided with an increase in complaints about highhandedness of recovery agents.

Though intimidation is the most common allegation, some of complainants have said that they had received “life threats”.

“Things have come to such a pass that we had to meet the representatives of different banks and financial institutions and ask them not to use strong-arm tactics to recover loans. We have asked the representatives of the banks to abide by certain guidelines,” said the deputy commissioner of police (south), Ajoy Kumar.

Most such cases are settled after discussions and the complaints are made only when intimidation becomes unbearable, said a police officer.

As it happened to a 55-year-old man while he was driving down Madan Street in his new car a few months ago.

“It was early morning. Two youths on a motorcycle blocked the car, pulled out the man and drove away in his car. The youths were recovery agents of the Ballygunge branch of a private bank,” said an officer of New Market police station. “We later started a case against the two and arrested them.”

“We have received complaints from even former members of Parliament about bank recovery agents harassing them over missed EMI payments. Such cases are on the rise,” said an officer of Shakespeare Sarani police station.