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VEHICLE REPOSSESSION IN INDIA
Frame standard protocol for vehicle seizure in case of loan default: RBI to BanksThe Reserve Bank of India and banks are developing a standard procedure for vehicle seizures when borrowers default on loans. This initiati...20 Nov, 2024, 12.13 AM IST- Loan recovery agents face RBI heat for unfair practicesEven as financial institutions are in the thick of action with regulations, the role of loan recovery agents is coming to light once again....25 Sep, 2022, 09.51 AM IST
- M&M Fin down 10% post curbs on third-party recovery agents"The company has not outsourced any collection activities in its vehicle finance business to any third-party agencies and, therefore, the c...24 Sep, 2022, 09.42 AM IST
- M&M Financial tumbles 14% on RBI order to stop loan recovery via external agentsThe company has not outsourced any collection activities in its vehicle finance business to any third-party agencies and therefore, the com...23 Sep, 2022, 12.22 PM IST
- RBI directs M&M Finance to stop recovery operations after Hazaribagh incidentThe central bank’s move came after reports that third-party loan recovery agents working on behalf of M&M Finance allegedly ran over a 27-y...23 Sep, 2022, 10.16 AM IST
- Mahindra Finance stops repossessions through third-party agents"In light of the recent tragic incident, we have stopped third-party repossessions and will further examine whether and how third-party age...23 Sep, 2022, 09.54 AM IST
- RBI asks Mahindra Finance to stop loan recovery via external agents after Hazaribagh incidentThe directive comes days after loan recovery agents of Mahindra Finance allegedly crushed a 27-year-old pregnant woman in Hazaribagh distri...22 Sep, 2022, 10.28 PM IST
- Car repossessions see sharp surge as used auto market in slow laneResellers are counting on more consumer bad news - a rising number of auto repossessions - to meet the gap in supply. The supply is expecte...20 Feb, 2022, 09.44 AM IST
- A million Indians waiting to buy a car, used and unusedIf a shortage of parts has further extended the waiting period for new cars and SUVs, fewer people replacing their old cars for new and a f...13 Apr, 2021, 08.58 AM IST
- Buying a used car? You will soon have a lot more choicesAccording to OLX India, demand for used cars on its platform was 133% more in August than February this year. Growth in supplies in the per...03 Oct, 2020, 10.41 AM IST
- Only 15% commercial vehicles are plyingOnly 15% of the 25 lakh commercial vehicles are plying across India. The worst affected are automobile carriers; out of 18,000 car carriers...13 May, 2020, 11.28 AM IST
- This would one of the best H2 we have ever forecast: Ramesh Iyer, MMFSLMaintaining growth rate is not very challenging for us, says Iyer30 Nov, 2018, 09.21 AM IST
- Demand slowdown hits LCV vertical, eats into profitsMedium and heavy commercial vehicles battled sharp demand slump and discounting all through 2013 up until mid 2014.28 Jan, 2015, 11.49 AM IST
- MotorExchange raises $5 millionMotorExchange, an online marketplace for used vehicles, has raised a second round of funding to expand its workforce and increase direct to...11 Jan, 2011, 01.40 AM IST
- Private banks likely to quit auto loan businessPrivate banks say that absence of clear guidelines from the RBI prevents them from repossessing vehicles from defaulting borrowers. New Yor...10 Apr, 2009, 01.03 PM IST
- Credit default not enough ground to tow away vehicleTo reduce harassment of owners who default on loan repayment, banks will be able to impound vehicles only during fixed hours and through an...09 Apr, 2009, 10.19 AM IST
- Credit default not enough ground to tow away vehicleTo reduce harassment of owners who default on loan repayment, banks will be able to impound vehicles only during fixed hours and through an...09 Apr, 2009, 01.13 AM IST
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