India city Mumbai pandemic economy India city Mumbai

Coercive loan recovery tactics under RBI lens

Reading now: 779
www.livemint.com

MUMBAI : The Reserve Bank of India (RBI) is set to issue an advisory cautioning lenders against using aggressive tactics to collect payments following complaints that some app-based lenders are using outright dodgy tactics to get borrowers to repay, a person aware of the development said.Social media platforms have been abuzz for the past few weeks with complaints that some app-based lenders have been harassing small borrowers who have fallen behind on their payments by calling their phone contacts and texting abusive messages.

While the number of such complaints has exploded on Twitter and Facebook, only a few have reached out directly to RBI’s ombudsman for digital transactions, the person cited above said on condition of anonymity.While.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA