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BANKS VEHICLE REPOSSESSION
Can a bank seize your vehicle after EMI default? What borrowers need to knowFacing vehicle repossession in India? Understand your rights: lenders can't seize your vehicle after just one or two missed EMIs without du...- 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...
- Rural demand holding up, sentiment very positive: Ramesh IyerReposition, again this is something that I have said several times is the last resort of settlement. It is not the first approach to recove...
- 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....
- 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...
- 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...
- 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...
- 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...
- 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...
- Delinquencies could become a big reason to worry for auto lendersIn March this year, the share of loans with payments pending for over 90 days past the due date (DPD) was highest since 2014 at 3.5 per cen...
- 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...
- 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...
- Car loan default: what, when and how?A car loan default happens when a customer repeatedly fails to make the agreed car loan payments to the lender/bank. How & when to negotiat...
- 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...
- 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...
- 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...
- Financiers free to seize vehicles: HCIn a judgment that is bound to have far-reaching consequences, Calcutta high court on Tuesday allowed financiers to seize vehicles if custo...
- Industry urges PM to ensure retail finance in auto sectorIndustry has urged Prime Minister Manmohan Singh to bring about some fundamental changes in the process of repossession of vehicles from lo...
- ICICI Bank told to return re-possessed car, pay Rs 50K fineThe ICICI Bank has been directed by a consumer court to pay Rs 50,000 compensation to a customer and return his Indica car forcibly reposse...
- Might not right, court warns fin firmWarning loan goons to avoid resorting to ‘‘instant justice’’ for repossessing financed vehicles, the National Consumer Commission (NCCM) ha...
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