The Ken had recently covered Mahindra Finance.
Sharing summary points for reference:
- An RBI notification banning Mahindra Finance from using third-party agents for recovery has forced the legacy firm to think on its feet
- Fresh from a Covid war, the recuperating NBFC now has to battle a new villain amid rising cost-to-income ratio and volatile profits
- The accident has laid bare the rot that is corroding the lending industry, usually accepted as part of trade practices
- The onus is back on Mahindra Finance to convince RBI to lift the ban after an internal audit proves there are no big holes to plug
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