Bajaj Finance Ltd.
Bajaj Finance share price under pressure due to RBI oreders.


Might see downfall today in Bajaj Finance

Today on weekly expiry day we will see slight downfall on Bajaj Finance ltd. Share price. today's downtrend will because of   Reserve Bank of India (RBI) asked Bajaj Finance Ltd. to stop sanctioning and disbursing loans under its two lending products namely, ‘eCOM’ and ‘Insta EMI Card' with immediate iffect, particularly with respect to non-issuance of key fact statements to the borrowers.

This announcement came post market hours of Wednesday's which cause scrip to fell 1.84 precent  to Rs 7223.95 otherwise it was great trading session in market.

RBI orders NBFC Bajaj Finance to stop lending

Stock exchanges were informed by Bajaj Finance that supervisory restrictions would remain in place until the company met the RBI by removing the discovered shortcomings in providing Key Fact statements to borrowers.

Bajaj Finance told that it would take detailed review of KFS and take corrective actions as per the guidelines of the RBI norms.

Bajaj Finance has for the time being temporarily stopped authorizing and disbursing new loans via "eCOM" and via "Insta EMI Card" online or digitally.

"We re-affirm our commitment to rectify observations of the RBI in Key Fact Statement and comply with RBI Directions at the earliest, and will continue with our endeavor to provide seamless financial services to our customers," stated Bajaj Finance.