What legal options do I have if I am being harassed by loan recovery agents?

Even though you may genuinely owe the debt, this doesn't give recovery agents the right to harass, threaten, or use abusive tactics — regulatory guidelines specifically prohibit banks and their recovery agents from using intimidation, calling at unreasonable hours, or contacting people other than you (like your employer or family) in a manner intended to embarrass or pressure you.

You can file a formal complaint with the bank itself about the specific recovery agent's conduct, and if unaddressed, escalate to the Banking Ombudsman, which takes such conduct complaints seriously and can direct corrective action against the bank for its agent's behaviour.

If the harassment involves genuine threats, defamatory statements to third parties, or conduct amounting to criminal intimidation, you can also file a police complaint, regardless of the fact that you owe the underlying debt — the debt and the manner of its recovery are treated as separate issues. Keep records of specific instances (dates, what was said, any recordings if you have them) to support whichever complaint you pursue.