Anish Shah, chief executive officer and managing director of Mahindra Group, expressed condolences for the death and assured that the incident would be thoroughly investigated.

Mahindra & Mahindra Financial Services Ltd (MMFSL) cannot use third-party agents for recovery or repossession until further notice.

The RBI's decision comes after a pregnant woman (27) was allegedly crushed to death by recovery agents in Jharkhand's Hazaribagh district last week.

MMFSL, a non-banking finance company, may continue recovery or repossession through its own employees, the central bank said.

The Reserve Bank of India told Mahindra & Mahindra Financial Services Ltd. (MMFSL) to stop outsourcing recovery and repossession.

The RBI took this action due to supervisory concerns about the NBFC's outsourcing activities.

The police had arrested one Roshan, an employee of Team Lease, a firm hired by Mahindra Finance, in connection with the woman's death.

Anish Shah, chief executive officer and managing director of Mahindra Group, expressed condolences for the death and assured that the incident would be thoroughly investigated.

According to Mahindra Group's Managing Director and CEO Anish Shah, the incident will be thoroughly investigated.

It also stated that the company will investigate the practise of using third-party collection agencies.