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RBI proposes rules to let lenders disable phones for loan defaults
The Reserve Bank of India is proposing to allow lenders to disable certain mobile phone functions for loan defaulters, specifically for devices financed by the loan. These restrictions, effective October 2026, will be tightly regulated, excluding essential services and requiring a graduated approach. The RBI also introduced broader recovery conduct rules, including agent certification and data privacy mandates.
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economictimes.indiatimes.com
RBI proposes rules to let lenders disable phones for loan defaults
The Reserve Bank of India is proposing to allow lenders to disable certain mobile phone functions for loan defaulters, specifically for devices financed by the loan. These…
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thehindubusinessline.com
RBI reworks draft loan recovery directions following industry feedback
The draft norms also bar lenders from disabling essential features such as internet access, incoming calls, emergency SOS services and public safety notifications
