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Banks cannot disable mobile phones of defaulting borrowers: RBI proposal
The Reserve Bank of India on Wednesday proposed that banks cannot disable or restrict the mobile phones of defaulting borrowers to recover personal, car, or home loans, as part of efforts to curb aggressive recovery practices.
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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
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timesofindia.indiatimes.com
Financiers can't block borrower phones, online shaming barred
MUMBAI: Mobile phone financiers will face restrictions on "mobile lock" practices under RBI's amended rules for loan recovery. Under the reworked draft regulation, lenders can…
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Banks cannot disable mobile phones of defaulting borrowers: RBI proposal
The Reserve Bank of India on Wednesday proposed that banks cannot disable or restrict the mobile phones of defaulting borrowers to recover personal, car, or home loans, as part of…