Help regarding education loan settlement.

My elder brother took 3.80Lakh education loan in 2012 from IOB, he started repayment from 2017. He has paid around 2 Lakh out 3.80Lakh. In mid of corona pandemic he lost his job & now unemployed. He is not in position for repayment the rest principle+interest+ penalties late fine etc. Now the bank has  handed this case to recovery agency. The recovery agents calls & visits address for recovery. Till now the recovery agents had visited 3 times a month. We are not in position to repay rest outstanding as my fatter has been retired & I have small electronic work shop for electronic repairing. My brother is searching job in construction companies but till date he is unable to find a suitable job. We want settlement of loan but the bank is not listing. My brother also visited branch for settlement but same No, No. Then I called a friend who had also defaulted his loan. Usne kaha ki recovery agent ko paisa mt dena & kuch month ya year me bank khud settlement offer krega. Mai nhi janata ki aisa hoga ya nhi agar kisi ke sath aisa hua kindly share your experience with loan settlement & handling recovery agents. We just want get rid out of this mess