
RBI Bars Some Of Bajaj Finance’s Digital Lending Products
Reserve Bank of India, in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, has directed Bajaj Finance Ltd. (“the company”) to stop sanction and disbursal of loans under its two lending products 'eCOM' and 'Insta EMI Card', with immediate effect.
Bajaj Finance has over 4 crore EMI cards in force, according to its investor presentation