RBI defers loan recovery norms till Jan as lenders seek more time

Loan recovery has emerged as a contentious issue in recent years, bringing back memories from the late 2000s, when private banks used coercive tactics for the process.

RBI has unveiled a comprehensive framework to regulate how banks recover loan dues, introducing stricter norms for recovery agents and stronger safeguards for borrowers. The new rules, effective January 1, 2027, also lay down detailed guidelines for technology-based recovery…