Crime & Law · India
RBI Prohibits Banks from Disabling Defaulters' Mobile Devices
The Reserve Bank of India (RBI) has issued a directive prohibiting banks from disabling mobile devices belonging to defaulting borrowers. This rule specifically applies to banks and does not affect Non-Banking Financial Companies (NBFCs), which are barred from offering revolving credit facilities. The RBI also clarified that defaulting borrowers' devices can be locked gradually, a measure that appears to be distinct from the mobile device disabling prohibition for banks.
How outlets across the spectrum covered it
Left 0 · Centre 2 · Right 0 n = 2
- Centre (2): The Print, The Times of India