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RBI: Defaulters’ devices can be locked gradually
MUMBAI: RBI has eased its proposed norms on device disablement for EMI-financed gadgets and relaxed disclosure requirements for recovery agents after industry feedback, while retaining safeguards for borrowers.
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thehindubusinessline.com
RBI issues stricter loan recovery rules, caps borrower contact hours from January 2027
RBI introduces stricter loan recovery rules from January 2027, limiting contact hours, protecting borrowers and regulating mobile device restrictions.
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economictimes.indiatimes.com
RBI bars banks from disabling mobile devices of defaulting borrowers
Banks cannot disable borrower mobile phones and laptops for loan recovery. This new rule applies unless the devices themselves were financed by lenders. The Reserve Bank of India…
