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.
mahindra finance
September 2022
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.
