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NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts

Topics
Mahindra & Mahindra Financial Services | RBI | NBFCs

Subrata Panda  |  Mumbai 



Reserve Bank of India, RBI
In June, RBI Governor Shaktikanta Das had warned of taking stringent action against lenders for harsh methods used by recovery agents

With a majority of non-banking financial companies (NBFCs) relying on outsourced agents for loan recovery, the banking regulator’s tough stance on & Financial Services (MMFSL) could impact recovery for the entire sector in the near-to-medium term.

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First Published: Mon, September 26 2022. 18:47 IST

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