RBI Tightens Loan Recovery Norms: No Calls Post 7 PM, Banks Must List Agents by 2026

• RBI issues draft 'Responsible Business Conduct' directions to strengthen borrower protection and transparency in loan recovery.
• Banks must have board-approved policies for recovery agents, including hiring standards, conduct, and monitoring.
• Mandatory due diligence, background checks, and IIBF certification for all recovery agents.
• Banks required to publicly disclose lists of authorized recovery agents on websites and apps.
• Recovery actions halted during pending complaints; agents barred from contacting borrowers during sensitive personal occasions.