Mahindra barred from outsourcing loan recovery, after third party agent crushed woman under tractor
Image Credit: industry wired
Reports of sexual harassment by recovery agents and people committing suicide because of their intimidation even prompted RBI to step in and release a circular. Auto giant Mahindra also faced flak when a third party recovery agent ran over a pregnant woman while driving away in a tractor financed by the firm. Following the incident, India’s banking regulator has barred Mahindra from using third-party personnel for recovery.