With a rise in stress in banks' retail lending business, primarily unsecured loans, there is an increasing demand for collection and hence recovery agents. In addition, banks are also increasingly deploying sales staff for recovery. These activities are mostly outsourced by commercial banks.
In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents. By December 2024, the number of recovery agents had grown by almost 50 per cent. Out of 82,000 total outsourced staff as of the end of December, 8,800 were recovery agents, according to data from TeamLease Services.
"Unsecured loans have gone up, and the resultant delinquency rates have also increased, due to which demand for collection profiles in the retail lending space, specifically unsecured loans like credit cards and personal loans, has increased in the past six months.
Bu hikaye Business Standard dergisinin January 10, 2025 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin January 10, 2025 sayısından alınmıştır.
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