Saturday, October 1, 2022
For any kind of suggestion or query feel free to mail us at hello@globaldaily.in   Your online source for any kind of news   Welcome to Global Daily
RBI directs Mahindra Finance to stop loan recovery via third party – Times of India

RBI directs Mahindra Finance to stop loan recovery via third party – Times of India

NEW DELHI: The Reserve Bank of India (RBI) on Thursday barred Mahindra and Mahindra Financial Services (MMFSL) from using third-party services for loan recovery, until further orders.
The central bank cited certain material supervisory concerns with regard to the management of its outsourcing activities as the reason being its directive.
However, the non-banking financial company (NBFC) has been permitted to carry out recovery or repossession activities through its own employees.
RBI’s action comes days after reports of a 27-year-old pregnant woman being crushed to death trying to stop a loan recovery agent, working on behalf of MMFSL, from seizing her father’s tractor over loan dues.

“We will investigate this incident from all aspects and will also undertake an examination of the practice of using third-party collection agencies that has been in existence,” Mahindra Group CEO Anish Shah had said in a statement on Twitter last Friday.
(With inputs from Reuters)

Source

Hits: 0

Leave a Reply

Your email address will not be published.

46 − 38 =

Related Posts

Recent Posts

‘Professors of Practice’ to Develop, Design Courses and Curriculum, UGC Releases Guidelines
‘Professors of Practice’ to Develop, Design Courses and Curriculum, UGC Releases Guidelines
Vikram Vedha BO Collection: Hrithik Roshan- Saif Ali Khan Starrer Collects Over Rs 10 Crore
Vikram Vedha BO Collection: Hrithik Roshan- Saif Ali Khan Starrer Collects Over Rs 10 Crore
PAK vs ENG 6th T20I: ‘Who plays for country?’, Babar Azam BRUTALLY trolled because of Phil Salt, check here
PAK vs ENG 6th T20I: 'Who plays for country?', Babar Azam BRUTALLY trolled because of Phil Salt, check here
CBSE 10th, 12th Board Exams 2023: Datesheet to be Released in December
CBSE 10th, 12th Board Exams 2023: Datesheet to be Released in December
GST Collections In September Jump 26% To Rs 1.47 Lakh Crore
GST Collections In September Jump 26% To Rs 1.47 Lakh Crore
New drug may turn Covid virus against itself, fight variants
New drug may turn Covid virus against itself, fight variants
Congress president polls: Mallikarjun Kharge resigns as LoP Rajya Sabha | India News – Times of India
Congress president polls: Mallikarjun Kharge resigns as LoP Rajya Sabha | India News - Times of India
US NSA Says Russian Threats Taken Seriously, But Biden Warns of Defending ‘Every Inch’ of NATO Territory
US NSA Says Russian Threats Taken Seriously, But Biden Warns of Defending ‘Every Inch’ of NATO Territory
Petrol, Diesel Not To Be Sold In Delhi Without PUC Certificate From Oct 25: Gopal Rai
Petrol, Diesel Not To Be Sold In Delhi Without PUC Certificate From Oct 25: Gopal Rai
India Capitals vs Manipal Tigers Live Streaming Details: When and where to watch INDCAP vs MNT Legends League Cricket 2022 in India on TV and Online?
India Capitals vs Manipal Tigers Live Streaming Details: When and where to watch INDCAP vs MNT Legends League Cricket 2022 in India on TV and Online?

Archives

Categories

Tags

PHP Code Snippets Powered By : XYZScripts.com