Shares of Bajaj Finance Rise 7% as the RBI Lifts the November Ban
The Reserve Bank of India (RBI) lifted the prohibition that had prevented the non-banking financial company (NBFC) from authorizing and disbursing loans for its eCOM and Insta EMI Card products, which caused Benzinga - Bajaj Finance (NS:BJFN) shares to soar on Friday morning. What transpired: In November, the RBI enforced this limitation as a result of non-adherence to digital lending regulations. Bajaj Finance declared that it may now start approving and paying out loans under these two categories after the restriction was lifted. Also read: The Reasons Behind Investors' Inability To Decide On This GovernmentHeld Stock Even After Q4 Revenue Increased by 26% This update was released by the business on Thursday in a regulatory statement. The statement said, "...we wish to inform that the RBI, vide its letter dated 2 May 2024, has conveyed its decision of lifting the said restrictions on eCOM and online digital "Insta EMI Card," with immediate effect, based on the
