You must have observed people (lender) bothered by loan recovery agents to collect the loan amount. Whenever you hear the term loan recovery agents a negative image of agent instantly strikes your mind. You instantly get the picture of a rude and misbehaving man knocking at your door in your mind.
Well, there is someone who have been making difference in this area. Manju Bhatia is the name who has been handling loan affairs matters very effectively for various government sector banks.
Manju Bhatia is a 27 year old lady and currently working as the joint managing director of Adhikrut Jabti Evam Vasuli .The soul function of her vasuli agency is to track down the loan defaulters and also deals with recovery operations.
She was not even 16 when she handled her first debt recovery operation. She assisted State bank of India in recovering the loan of popular politician who had not pay his personal loan.
Manju Bhatia became the first Indian woman who initiated the loan recovery agency with only female employees. And she had a very justified reason for that. She believes females are better communicators and can handle the people (defaulters) very smoothly than male agents who people often find rude and misbehaving.
Talking about her agency Vasuli which began operating in 2003 , It’s really doing well. The agency started with three agents and currently having 200 agents in almost every city of India. As far as the clients are concerned, Vasuli is immensely selective. Vasuli only works with Government banks/ Private sector banks . The reason why this agency don’t work with private banks because these banks are more commercially inclined with strict policy which generally people find hard to deal with. On the other hand Private sector banks are lenient , promising and they have a better image among bank account holders. People find public sector banks more trustworthy as the bank offers them relaxation in loans, debts etc .