RBI's Phone Locking Ban Sparks Smartphone Loan Defaults

Oh boy, RBI has taken away the phone locking magic, and now smartphone loan defaulters are popping up like popcorn! DPDZero in Bengaluru is seeing a whopping 20 percent rise in people skipping payments. While lenders used to block phones, RBI is still figuring out the pros and cons. Smartphones are half of all consumer loans, and while growth is slowing, there’s still hope for a bounce back!