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How much amount PSU Banks spent on Recovery Agents?

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In India, the use of recovery agents by banks has long been a contentious issue. These agents, often outsourced by banks, have been accused of using aggressive and unethical practices—including harassment, intimidation, and violating borrower privacy. The recovery practices are very strict in Private Banks while public sector banks are working for the welfare of public. Let’s have a look at the amount of money spent by Public Sector Banks on recovery agents.

Bank NameExpenditure (₹ crore)Number of Recovery Agents
Bank of Maharashtra2019–20: ₹14.26
2023–24: ₹31.08
2022–23: 476
2023–24: 547
Central Bank of India2019–20: ₹2.42
2023–24: ₹5.87
2019–20: 184
2023–24: 279
Indian Bank2021–22: ₹33.20
2022–23: ₹59.40
2023–24: ₹68.74
Approx. 900 agents
Punjab National Bank2019–20: ₹37.03
2023–24: ₹49.62
2019–20: 514
2023–24: 590
Bank of BarodaData not providedData not provided
Bank of IndiaData not providedData not provided
Canara BankData not providedData not provided
Indian Overseas BankData not providedData not provided
Punjab & Sind BankData not providedData not provided
UCO BankData not providedData not provided
State Bank of IndiaData not providedData not provided
Union Bank of IndiaData not providedData not provided

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