The Delhi High Court has quashed the ECIR registered by the Enforcement Directorate against Indiabulls Housing Finance Ltd. and several of its employees, and directed that no further coercive action be taken against them in a case in which the Bombay High Court has already quashed the FIR.

PIRAMAL-India's shadow lender Piramal sees no slowdown in credit growth.

"Over a billion US dollars over the next five to 10 years," V Shankar, co-founder and CEO of Gateway Partners said on Monday when asked about his investment plans for India at the sideline of the Forbes Global CEO Conference in Singapore.

He also said that there is also a push towards the digital route, adding that new-age banking using technology has increased.

"In light of the recent tragic incident, we have stopped third-party repossessions and will further examine whether and how third-party agents will be used in the future," Ramesh Iyer, Vice Chairman and Managing Director, Mahindra Finance, said in the statement.

The 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-year-old woman with a tractor in Hazaribagh district of Jharkhand, causing her death. The central bank added that it’s action is based on certain material supervisory concerns observed in M&M Finance with regard to the management of its outsourcing activities.

The directive comes days after loan recovery agents of Mahindra Finance allegedly crushed a 27-year-old pregnant woman in Hazaribagh district in Jharkhand to death under a tractor. The agent was was forcibly taking the vehicle away for non-payment of dues, a senior police official had told PTI.