RBI to ban recovery calls to offices and relatives from 2027
In short
RBI’s new rules will stop loan recovery agents from calling borrowers at work or contacting their relatives from 2027.
The move is meant to reduce harassment during debt recovery and give borrowers a way to complain through the Ombudsman.
What the reporting says
The reported rules are meant to curb intrusive recovery practices and set a path for complaints through the Ombudsman.
Why it matters
RBI’s reported new norms target debt-recovery practices that involve calling borrowers at offices or reaching out to relatives. The changes are described as taking effect from 2027 and are tied to complaint handling through the Ombudsman.