RBI bars Mahindra Finance from using third-party recovery agents

Mumbai (Maharashtra) [India], September 22 (ANI): The Reserve Bank of India (RBI) on Thursday said it has barred MahindraMahindra Financial Services from using third-party recovery agents.

The Reserve Bank of India has, in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed MahindraMahindra Financial Services Ltd. (MMFSL), Mumbai, to immediately cease carrying out any recovery o