Tag: financial institutions
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RBI’s New Rule: Phone Locking for Defaulted EMI Borrowers
Introduction In a significant move, the Reserve Bank of India (RBI) has proposed a new rule that aims to address the rising issue of defaults in equated monthly installments (EMIs) for smartphone purchases. Borrowers who fail to repay their loans may find their devices locked, a measure aimed at ensuring accountability among borrowers and protecting…
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Tiresias A.E.: The Credit Guardian in Trouble
Introduction to Tiresias A.E. Tiresias A.E. is a pivotal organization in Greece that functions as a watchdog for creditworthiness. Established to assist banks and financial institutions in mitigating risks associated with bad debtors, it has become an essential tool in maintaining financial stability. However, recent developments have raised concerns about Tiresias A.E.’s sustainability and effectiveness.…