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New RBI Loan Rules Could Save EMI Defaulters from Harassment—Here’s What’s Changing

The RBI's new loan recovery rules, effective July 15, 2024, aim to protect EMI defaulters from harassment while ensuring lawful debt collection. With measures like mandatory hearing before fraud classification, tighter control on recovery agents, and structured relief options for distressed borrowers, the guidelines prioritize fairness, transparency, and dignity. Learn your rights, stay informed, and discover how to handle recovery issues the right way.