RBI lifts the eCOM and Insta EMI Card Ban of Bajaj Finance

Bajaj Finance announced to the stock exchange that the Reserve Bank of India (RBI) had removed the restrictions on its eCOM and online digital “Insta EMI Card” on Thursday, with an immediate effect.

Consequently, Bajaj Finance will resume sanctioning and disbursing loans in these segments, including issuing EMI cards. Previously, the RBI had prohibited Bajaj Finance from offering loans under these products due to non-compliance with digital loan guidelines, specifically related to the issuance of key fact statements to borrowers and deficiencies in those statements.