HomeLatest NewsRBI directed Mahindra Finance to stop recovery of loans through third parties

RBI directed Mahindra Finance to stop recovery of loans through third parties

New Delhi: The Reserve Bank of India (RBI) on Thursday Mahindra and Mahindra Financial Services (MMFSL) from using third party services for debt recovery.
The central bank has cited its directive as a cause of some material oversight concerns regarding the conduct of its outsourcing activities.
However, non-banking financial institutions (NBFCs) are permitted to conduct recovery or recovery activities through their own staff.

RELATED ARTICLES

Most Popular