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Stop loan recovery through outsourcing arrangements: RBI to Mahindra Finance
short by Pragya Swastik / on Thursday, 22 September, 2022
The RBI has directed Mahindra & Mahindra Financial Services to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements. The company, however, may continue to carry out recovery activities through its own employees. The directive comes days after a pregnant woman died in Jharkhand after she was allegedly run over by a tractor by loan recovery agents.
read more at RBI