Arbitrariness of online loan companies will not work, RBI has issued new rules. RBI has issued guidelines for digital lending institutions

RBI has issued new guidelines to curb arbitrary behavior of online lending companies. Due to this, the agents will not be able to adopt wrong methods with the customers in collecting the loans. RBI has asked borrowers to refrain from receiving any inappropriate messages, threats or calls from unknown numbers. According to RBI, recovery agents cannot call borrowers before 8 am and after 7 pm. Check out this video from Money9 to see what changes RBI’s new initiative will bring.