M&M Financial Services gains 3% as RBI lifts ban on recovery via third party
The central bank has removed a ban on M&M Financial Services to carry out any recovery or repossession activity through outsourcing arrangements with immediate effect.
loan recovery
January 2023
September 2022
June 2022
Mahindra Finance says RBI order will hit vehicle recovery; stock tanks 12%
The Mumbai-based non-banking financial company repossesses about 4,000 to 5,000 vehicles per month, using the third-party agencies and its own employees.
RBI bars Mahindra Finance from outsourced recovery
Ban follows death of a borrower's pregnant daughter amid a forced seizure of tractor.
M&M Finance breaks own code, RBI guidelines as recovery agent kills borrower's pregnant daughter
The incident comes amid a high recovery rate of delinquent loans by NBFC in the first quarter of the current fiscal.
Bank NPAs: Stirred, But Not Paused
While NPAs have come off their FY18 peak, they still remain far from their all-time lows.
