rbi mahindra finance ban, murder of pregnant woman.. RBI ban to use Mahindra finance agents! – rbi barred mahindra finance from using third party agents to carry loan recovery and repossession works

The RBI has banned Mahindra Finance from using third-party agents to collect loans and impound vehicles. Following this, Mahindra Finance said it has stopped using third-party agents.

A farmer from Hazariba district of Jharkhand took a loan from Mahindra Finance and bought a tractor. It was reported that the third party agent of Mahindra Finance Company who went to confiscate his tractor behaved very cruelly.

That is, the news that the loan agent brutally killed the 27-year-old daughter of the concerned farmer by mounting a tractor caused a great shock. Subsequently, it was confirmed that the farmer had taken a loan from Mahindra Finance.

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Many have condemned the brutal act of the Mahindra Finance agent. Subsequently, Reserve Bank yesterday ordered Mahindra Finance Company to ban the use of third party agents.

However, RBI said that Mahindra Finance can use its own employees to carry out debt recovery and foreclosure.

Subsequently, Mahindra Finance said that it has stopped using third-party agents and will study how to use third-party agents in the future.