RBI Stops Bajaj Finance From Giving Loans To E-Tailers, EMI Card Users
NDTV
The Reserve Bank of India (RBI) in a statement today said that Bajaj Finance, an arm of Bajaj Finserv Ltd, should stop giving loans under its "two lending products eCOM and Insta EMI Card" immediately
Bajaj Finance Ltd has been ordered by the central bank to stop giving loans under its two categories of products for alleged violation of digital lending rules.
The Reserve Bank of India (RBI) in a statement today said that Bajaj Finance, an arm of Bajaj Finserv Ltd, should stop giving loans under its "two lending products eCOM and Insta EMI Card" immediately.
The RBI said it took the action after the company was allegedly found violating extant provisions of the central bank's digital lending guidelines.
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