RBI Issues Guidelines on Locking Financed Smartphones for Missed EMIs

·1 views

The Reserve Bank of India has released a new framework governing how lenders can handle loan recovery on devices purchased through EMI financing. The guidelines specifically address whether lenders are permitted to remotely block or lock smartphones if borrowers miss EMI payments. RBI issued these rules to bring clarity and regulation to the growing practice of device-linked lending. The new framework is set to come into effect from January 1, 2027.

Read the full story at Times of India

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

America's civil war over USS Lincoln: 'Grow a pair' vs 'Bring them home'

0 comments Read more at Times of India

IndiaIndian Express ·

BCI chief regrets NALSAR enrolment bar order, apologises to law students

0 comments Read more at Indian Express

IndiaTimes of India ·

US pulls last aircraft carrier out of Pacific amid Iran war, opens space for China

0 comments Read more at Times of India

IndiaNDTV ·

Punjab Congress Leaders Split Over Ticket Allocation Ahead of Polls

A public contradiction has emerged within the Punjab Congress over the party's stance on ticket distribution. Former Punjab Chief Minister Charanjit Singh Channi and state party chief Amrinder Singh Raja Warring appear to be at odds on the issue. Channi and Randhawa shared a stage at Issru near Khanna, while Warring was notably absent from the event. The incident has intensified speculation about deepening factional divisions within the Punjab Congress unit.

0 comments Read more at NDTV