RBI proposes restrictions on loan financed mobile devices
pre-market1 source ↓written by the desknot a recommendation
The Reserve Bank of India has proposed allowing lenders to remotely disable mobile phones or tablets financed through loans if borrowers default after 90 days. This measure, part of the Draft RBI (Commercial Banks - Responsible Business Conduct) Amendment Directions, 2026, aims to enhance accountability in lending. Borrowers will receive notices before restrictions are imposed, ensuring transparency in the process.
Not investment advice. For informational purposes only.