ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
Business

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 Mahindra & Mahindra Financial Services from using third-party recovery agents.

ANI Sep 22, 2022 23:17 IST googleads

Representative Image

Mumbai (Maharashtra) [India], September 22 (ANI): The Reserve Bank of India (RBI) on Thursday said it has barred Mahindra & Mahindra 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 Mahindra & Mahindra Financial Services Ltd. (MMFSL), Mumbai, to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders, the RBI said in a statement.
However, the statement said NBFC may continue to carry out recovery or repossession activities, through its own employees, it said.
This action is based on certain material supervisory concerns observed in the said NBFC, with regard to the management of its outsourcing activities, the central bank added. (ANI)

Get the App

What to Read Next

Business

Adani Foundation to connect 10 lakh women nationwide

Adani Foundation to connect 10 lakh women nationwide

The Adani Foundation, today, declared that in the next one year, it will connect one lakh women in Maharashtra with the Swabhimaan initiative. For the future, Adani Foundation has announced to connect 10 lakh women in India with the same initiative and make them strong.

Read More
Business

India Emerging as Stable Investment Anchor in Turbulent Global

India Emerging as Stable Investment Anchor in Turbulent Global

Mumbai (Maharashtra) [India], March 12: As military conflict in West Asia disrupts energy supplies through the Strait of Hormuz and global liquidity tightens, leading investors, policymakers and capital markets leaders gathered at IGF Mumbai 2026: Catalysing Capital to assess India's position in an increasingly fragmented global economy.

Read More
Business

Finkurve Financial Services Limited (Arvog)

Finkurve Financial Services Limited (Arvog)

Mumbai (Maharashtra) [India], March 12: Finkurve Financial Services Limited (BSE: 508954), among leading Tech-first Gold Loan NBFC, announced that the Company has crossed Rs. 1,035 crore+ in Assets Under Management (AUM) surged by nearly 10x compared to FY23, marking a significant milestone in the company's growth trajectory within India's secured lending ecosystem.

Read More
Business

inDrive Launches Ride XL Category in Chandigarh

inDrive Launches Ride XL Category in Chandigarh

Chandigarh [India], March 12: inDrive, the global mobility and urban services platform known for its fair-price model and user-first approach, today announced the launch of inDrive Ride XL in Chandigarh. The new category introduces spacious 6-seater vehicles, designed to make group travel, family outings, airport transfers, and intercity journeys more comfortable while allowing passengers to negotiate and agree on a fair fare directly with drivers.

Read More
Business

Advancing Minimally Invasive Cardiac Care

Advancing Minimally Invasive Cardiac Care

Bengaluru (Karnataka) [India], March 12: Narayana Health City has successfully completed over 100 robotic cardiac surgeries in a single month, marking a significant milestone in advanced heart care. The achievement reflects not only exceptional surgical expertise and clinical precision, but also the seamless integration of cutting-edge robotic technology to deliver consistently strong patient outcomes across adult and paediatric cases.

Read More
Business

Indian Transmission Sector to See Innovative Switching

Indian Transmission Sector to See Innovative Switching

Haridwar (Uttarakhand) [India], March 12: In a significant boost to India's power transmission and railway electrification sectors, COELME-EGIC (Italy & France) and Southern States (USA) have entered into a strategic joint venture with iSAT India.

Read More
Business

India Post releases a special cover to commemorate birth

India Post releases a special cover to commemorate birth

New Delhi [India], March 12: Annapurna Devi Foundation has released a special cover from the India Post of the eminent Indian classical musician Annapurna Devi at the Kolkata GPO. The event was attended by eminent classical musicians like Nityanand Haldipur, Basant Kabra, Sukriti Gupta, Director Postal Services, Kolkata Region.This was a special commemoration on the birth centenary of the legendary Surbahar player Annapurna Devi.

Read More
Business

"World's first platform built on top of payments": Razorpay CEO H

Razorpay, on Thursday, announced the launch of Razorpay Agent Studio, a first-of-its-kind platform built on top of payments that allows businesses to deploy autonomous AI agents for operational tasks. The platform aims to automate various business processes, including dispute management, customer recovery, and payment reconciliations, by integrating AI directly into the payment infrastructure.

Read More
Business

Bridging the Tech Divide: How SSGSERV is Redefining White-Label

Bridging the Tech Divide: How SSGSERV is Redefining White-Label

New Delhi [India], March 12: In today's digital economy, enterprises depend heavily on uninterrupted technology infrastructure. As global SaaS platforms and OEM technology providers expand across markets, maintaining reliable customer and technical support has become a growing challenge. Companies are no longer looking for basic call center services but for specialized partners who can manage complex IT environments while maintaining speed, quality and brand consistency.

Read More
Business

Authenticity, Adaptability, and the Future of Brand Communication

Authenticity, Adaptability, and the Future of Brand Communication

New Delhi [India], March 12: The essence of communication in an industry that is constantly evolving is surprisingly timeless. Whether it is about building a brand, creating trust, or navigating disruption, clarity of thought and authenticity of action remain fundamental. With rapid shifts in technology, evolving consumer expectations, and changing regulatory environments, today's business leaders are no longer just marketers or communicators. They are storytellers, strategists, and guardians of credibility. The true measure of sustainable brand growth lies in the ability to remain creative yet accountable, while imagining ideas that create meaningful impact.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.