RBI’s New Loan Recovery Rules Explained!! #information

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Издатель
RBI has introduced major loan recovery rules to protect borrowers from harassment by banks, NBFCs and recovery agents.

Under the new framework, recovery agents will generally be allowed to contact borrowers only between 8 AM and 7 PM. They cannot use abusive or threatening language, harass family members, friends or colleagues, or use borrower information to publicly shame them. Recovery calls must also be recorded and preserved for at least six months.

The RBI has also introduced strict rules around device-locking for EMI-financed phones and electronic devices. Lenders may impose limited restrictions only under specified conditions, while essential functions must remain accessible. Banks will remain responsible for violations committed by their recovery agents.

These new borrower protection rules will come into effect from January 1, 2027.

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