Suraj's Post

RBI’s new draft proposal could change how phone EMI defaults work in India. 📱⚖️ Under the proposed rules, banks and lenders may no longer be allowed to instantly lock financed smartphones after a missed EMI. Instead: • A structured notice period may become mandatory • Immediate blocking may not be allowed • Essential features like calls, internet, SOS, and alerts may continue working • Privacy protections may restrict access to personal data The proposal aims to balance borrower protection with lender recovery rights. But remember: This is still a DRAFT framework, not a final RBI rule yet. Public comments remain open until 31 May 2026. Would this make EMI financing safer for users or riskier for lenders? 🤔

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This post was published on 22nd May, 2026 by Suraj on his Instagram handle "@myfintaxofficial (MYFINTAX | Finance & Tax Educator | CA Suraj Soni)". Suraj has total 241.1K followers on Instagram and has a total of 3.1K post. Suraj receives an average engagement rate of 0.94% per post on Instagram. This post has received 0 comments which are lower than the average comments that Suraj gets. Overall the engagement rate for this post was lower than the average for the profile.