Section 24 in Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Rules, 2011
24. Micro Finance Institution not to employ recovery agents.
(1)No Micro Finance Institution shall employ any recovery agent for recovery of the loans except the employees named in the Form 1 filed at the time of Registration.(2)For the purpose of this Rule, any person who is not named in Form 1 but effecting recoveries shall be treated as recovery agent; and Micro Finance Institution responsible for such collection shall be liable for action under Section 18 of the Act.
