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RBI directs Mahindra Finance to stop outsourcing its recovery activity through agents

The Reserve Bank of India (RBI) on Thursday barred Mahindra & Mahindra Financial Services from carrying out recovery or repossession activity through third-party until further notice. However, the company is allowed to carry out the activity through its own employees. RBI’s ban comes after certain material supervisory concerns observed in the company In a statement, RBI said, […]