RBI bars banks from disabling mobile devices of defaulting borrowers
· economictimes.indiatimes.com
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 announced these regulations will take effect January 1, 2027. Banks must adopt a gradual approach when disabling devices, not immediately. Essential functions like incoming calls and emergency services remain accessible to borrowers.
Live Events
as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now!
(You can now subscribe to our
(You can now subscribe to...