For nearly four years now, over 200 women across eight states of India have been silently helping nationalised banks recover their bad debts from loan defaulters. These women are employees of Adhikrut Jabti Evam Vasuli (www.vasuli.com), a firm started in Indore by Parag Shah. The 30-plus Shah, a science graduate, is the managing director of Vasuli since 1998.

Vasuli - which has branches in Madhya Pradesh, Maharashtra, Rajasthan, Jharkhand, Chattisgarh, Orissa and Tamil Nadu and has plans on the anvil for Karnataka - works towards the recovery of loans sanctioned for immovable property, such as houses and commercial complexes. Following the growth of business, Shah shifted the head office from Indore to Mumbai to further his company's prospects.

The women recovery agents, who comprise 80 per cent of the Vasuli staff, have demolished the stereotypical notion that recovery agents must be rough and tough men, with muscle power and nerves of steel to coerce loan defaulters into paying up. At least that is the impression one gets from reports in the media - people buckling under pressure from threatening agents on the payroll of various banks.

Embarrassment

"At Vasuli, we believe in persuasion, not persecution. So, we politely explain to a defaulter the problems he or she may encounter later on. Interestingly, most of them do pay back. There is no need to issue threats. One can always fall back on legal assistance," explains Mumbai-based Manju Bhatia, 21, joint director of Vasuli.

While Shah hadn't initially intended to recruit women, he welcomed them on board with the arrival of Bhatia, who was convinced about the competence of women as recovery agents.

There are a number of reasons for the success of these women agents. "Defaulters, who are generally men, find it embarrassing to be addressed by a woman and hasten to pay up at least large parts of the loan," she explains.

Those who find it easy to bribe male recovery agents, eventually realise that women agents can not be similarly tempted. According to Bhatia, "Ninety-nine per cent women are honest and have immense patience." "Moreover, male members of the family of defaulters can't accuse women recovery agents of physical abuse or sexual harassment of their womenfolk," remarks Shah.

Yet, despite the precautions undertaken, the women have unnerving anecdotes to narrate. Richa Hande, 22, who heads the Indore office and a branch in Jharkhand, recalls a case where a man in Indore had defaulted on a housing loan of Rs 35,00,000.

The man, whose house was located in an area that came under the jurisdiction of his police inspector brother, had laid a trap for the Vasuli team. "Cleverly, he and his family left the premises through the back door - once we had stepped into the house. He left us behind, intending to accuse us of breaking into his house. Fortunately, we had filmed the entire incident. His brother come to our rescue, too, and assured us that he wouldn't entertain any calls from his brother," recalls Hande.

The job is certainly not devoid of theatrics and danger. "Several times our cameras have been broken by goons hired by corporate defaulters. However, when the opposition gets too tough, we request additional police protection," she says.

Working for Vasuli has also taught the women to become thorough professionals. As Hande eventually discovered when she had to seal a school because its builder had refused to repay his loan. "There were nearly 2,000 students. We had to ensure that each child left the school safely. I was troubled by the nagging thought of the children, who would be without a school. But sometimes we have to shut out the emotional side of our job."

While many women employees were initially reluctant to join Vasuli because of social perceptions, the remuneration finally did the trick in most cases. Recovery agents earn Rs 10,000 upwards. New recruits are taught how to speak with defaulters and are explained basic legal procedures. However, the best training is on-the-job, while accompanying an experienced colleague. With Vasuli getting 800-odd assignments each day, the women have plenty of opportunity to display their zeal and competence.

WFS