GRI

Action against Bajaj Finance Ltd. under Section 45L(1)(b) of the Reserve Bank of India Act, 1934

News Financial services English Sanctions & Fines
Date: 15th Nov, 2023 Source: Reserve Bank of India Country: India Original Source

Brief

Summary:

The Reserve Bank of India has directed Bajaj Finance Ltd. to immediately stop sanctioning and disbursing loans under its "eCOM"" and ""Insta EMI Card"" products due to non-adherence to Reserve Bank of India's digital lending guidelines. Specifically

The Reserve Bank of India has today, 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. This action is necessitated due

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The Reserve Bank of India has today, 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. This action is necessitated due

This content is restricted.

Reserve Bank of India

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