RBI to let lenders lock your iPhone if you don’t pay EMI timely: How new regulations will affect loan defaulters
If you are having second thoughts on getting that new iPhone 17 on EMI, you should put your purchasing decision on hold. The Reserve Bank of India (RBI) wants to revise the Fair Practice Code, and if the regulations are passed, smartphone buyers purchasing on EMI may face the risk of getting their phones locked remotely if they fail to pay their monthly dues.
