- The Reserve Bank of India (RBI) has ordered Bajaj Finance to stop issuing loans under its eCOM and Insta EMI Card products.
- The directive is due to Bajaj Finance’s failure to adhere to RBI’s digital lending guidelines, specifically the non-issuance of Key Fact Statements for these loan products.
- The restrictions will be reconsidered once Bajaj Finance rectifies the identified deficiencies to RBI’s satisfaction.
[Via]
