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Smartphone to be locked for missed EMI? RBI’s new rules for lenders, defaulting borrowers explained

The Reserve Bank of India (RBI) has laid out some guidelines for lenders on recovery of loans, and whether they can block or lock the device that has been purchased via EMI financing. This new framework will come into effect from January 1, 2027.

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Times of IndiaLean R·2h ago
Smartphone to be locked for missed EMI? RBI’s new rules for lenders, defaulting borrowers explained
The Reserve Bank of India (RBI) has laid out some guidelines for lenders on recovery of loans, and whether they can block or lock the device that has been purchased via EMI financing. This new framework will come into effect from January 1, 2027.
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Smartphone to be locked for missed EMI? RBI’s new rules for lenders, defaulting borrowers explained

How 1 sources are covering this

Smartphone to be locked for missed EMI? RBI’s new rules for lenders, defaulting borrowers explained

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