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New Delhi: It is important to pay the Huffte when the loan is withdrawn. If the loan is not deposited on time, the banks are often taken action. But now, the Reserve Bank of India is planning to bring the rules that if Hafte is tired, the bank account holders’ phones will be locked. RBI lending companies can give the right to lock the phone. The reason for this rule is to reduce the outstanding debt of banks and financial institutions.

The Reserve Bank of India often takes important steps. In the meantime, the bank has the idea of ​​locking the phone if Hafte is tired. It is said that the RBI Fair Practice Code will be changed. In which the loan payers have to seek consent of customers to lock the phone. However, they will be banned from using personal data. Last year, the RBI banned the rules for locking the phone of the loan. However, now the Reserve Bank is planning to resume the rule.

Bank account holders’ data should be safe, so banks will not be given entry in phone data. Locked phone personal data, such as photos, messages or contacts, will be safe. New guidelines can be added to the Fair Practice Code in the next few months. If this rule is implemented, debt collection will be easy and it can also be easy to lend customers with low score score.

This will happen to the bank.

When a bank gives a customer a loan, it will install an app in his phone. If the borrower is tired, she will notify him. Yet if the EMI is not filled, the phone can be locked in a remotely through this app.

Once you’ve filled the missed EMI…

Once you pay the missed EMI, the company or app provides a code or process to restart the phone, which unlocks the phone. Debt recovery can be easily done through EMI locker apps. Some people say that people’s personal information is at risk of leaking.