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Mahindra Finance gains 3% as RBI lifts ban on outsourcing loan recovery

On September 22, 2022, the RBI had directed company to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.

Mahindra Finance Q3 consolidated net at Rs 992 cr after year-ago loss
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SI Reporter Mumbai
Shares of Mahindra & Mahindra Financial Services (Mahindra Finance) were up 3 per cent at Rs 240.60 on the BSE in Thursday’s intra-day trades after the Reserve Bank of India (RBI) lifted restrictions on the company wherein the company was stopped from carrying out any recovery or repossession activity through outsourcing arrangements.

At 09:52 AM, the stock traded 2 per cent higher at Rs 238.05, as compared to 0.11 per cent decline in the S&P BSE Sensex. The stock had hit a 52-week high of Rs 247.05 on January 3, 2023.

On September 22, 2022, the RBI had