*RBI Prohibits Banks from Disabling Borrowers' Mobile Phones* The Reserve Bank of India (RBI) has revised its loan recovery framework. The updated norms prohibit banks from disabling borrowers' mobile devices as a recovery tool, except in specific device-financing cases. The revised framework also introduces safeguards for borrowers, prescribes conditions for technology-based restrictions on financed devices, and eases certain recovery agent disclosure requirements. *Read More*: https://thekanal.in/en-IN/details/rbi-prohibits-banks-from-disabling-borrowers-mobile-phones-55304 #banking