RBI's New Loan Recovery Rules: Protecting Borrowers from Harassment

RBI's new loan recovery framework aims to protect borrowers by prohibiting harassment and setting strict guidelines for lenders. The rules cover call timings, agent conduct, and borrower grievance handling, ensuring a fair recovery process. This initiative is crucial for maintaining ethical lending practices and enhancing borrower trust in financial institutions.

⚖️ AI Verdict

"Finally, some rules to keep the loan sharks at bay!"

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File ID: #336688Original Source: LiveMint Money ↗

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