The Reserve Bank of India on September 22 barred Mahindra & Mahindra Financial Services from carrying out any recovery or repossession activity through outsourced agents, acting after reports that a woman was crushed to death in Jharkhand's Hazaribagh district, while she was trying to stop a loan recovery agent working on the company’s behalf from seizing her father's tractor over loan dues.
Ramesh Iyer, vice chairman and managing director of Mahindra & Mahindra Financial Services, spoke about the lessons from the episode and business growth in an interview to Manojit Saha.
Soon after the Hazaribagh incident, Anish Shah, Mahindra Group