Bajaj Finance Fell 4% As RBI Restricts Lending for eCOM and Insta EMI Card Schemes 

In intraday trading on Thursday, shares of Bajaj Finance fell 4% to Rs 6,937.15 on the BSE following a directive issued by the Reserve Bank of India (RBI) on Wednesday

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For the third day in a row, Bajaj Finance shares were down, losing 7% during that time.

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Quotes were at their lowest point since August 21, 2023. The stock was down 1.5% at Rs 6,937.15 at 09:47 AM

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The RBI’s discovered deficiencies (in violation of the digital lending standards) are mostly operational in nature, namely pertaining to KFS.

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They do not cast doubt on BAF’s procedures or the configurations of the different products offered through these two sourcing channels.

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BAF disclosed that it does not anticipate any significant financial effects from this incident.

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businessoutreach.in

In intraday trading on Thursday, shares of Bajaj Finance fell 4% to Rs 6,937.15 on the BSE following a directive issued by the Reserve Bank of India (RBI) on Wednesday prohibiting the non-banking finance company (NBFC) from making loans under its two products, Insta EMI and eCOM, effective immediately.