RBI allows gradual device restrictions for EMI defaults, eases recovery agent disclosure norms
The Reserve Bank of India will permit lenders to restrict devices bought on EMI financing. These restrictions will be gradual and only after a loan is significantly overdue. Incoming calls and emergency functions will remain accessible to borrowers. Disclosure requirements for recovery agents have also been eased by the central bank. The new rules will be implemented from January 1, 2027.
We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.
