RBI bans harassment and surprise visits in loan recovery, tightening lender accountability
The RBI’s new loan‑recovery rules prohibit eight abusive tactics—including threats, night‑time calls and unannounced doorstep visits—and require agents to be certified, identified and to give borrowers advance notice. Banks and NBFCs stay liable for third‑party misconduct, giving borrowers legal recourse and curbing a long‑standing source of distress.