One of the promises of AI is that it can reduce workloads so employees can focus more on higher-value and more engaging tasks. But accordin...

The Reserve Bank of India is proposing to allow lenders to disable certain mobile phone functions for loan defaulters, specifically for dev...

The Reserve Bank of India has proposed draft guidelines directing banks and housing finance companies to follow stricter rules while using ...

Cyber fraud: The steps proposed Friday include a proposal to compensate customers up to ₹25,000 for losses arising from small-value digital...

The Reserve Bank of India on Friday proposed a set of consumer protection steps to guard users against digital fraud, including a plan to c...

UCO Bank initially directed its branches to distribute sweet packets to its top 10 non-performing borrowers but later withdrew the circular...

After the country's largest bank, the State Bank of India, another state-run lender, UCO Bank, has come out with a circular asking its bran...

"The underlying principle of the proposed directions is that the RE should ensure that outsourcing arrangements neither diminish its abilit...

Even as financial institutions are in the thick of action with regulations, the role of loan recovery agents is coming to light once again....

“In view of concerns arising from the activities of these agents, it is advised that the regulator entities shall strictly ensure that they...

Even if unable to repay a loan, one still retains the right to civil behaviour and fair treatment.

Reserve Bank of India, has put in place a series of measures to ensure that banks are held accountable for service deficiency.

The Government the banking ombudsman has received several complaints against private sector lenders including HDFC Bank and ICICI Bank of v...

Borrowers can now pinpoint the duties of a recovery agent; he/she can object if the agents fail to work within the framework given to them....

Like insurance agents, recovery agents, too, will have to undergo compulsory training to be eligible for the job.

ICICI Bank has decided to compensate the family of Prakash Sarvankar - the man driven to suicide by recovery agents of the bank - with an e...

Banks, which outsource services to BPOs, will now have to incorporate a clause in their legal contracts with BPOs authorising RBI to carry ...