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On November 15, 2023, the Reserve Bank of India directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products ‘eCOM’ and ‘Insta EMI Card’, with immediate effect.
The RBI said Kotak Mahindra Bank was found to be non-compliant with the corrective action plans issued for 2022-23. The lender lacks ‘robust IT infrastructure and IT Risk Management framework’, and its online and digital banking channels have suffered frequent outages in the last two years
On November 15, 2023, the RBI directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products ‘eCOM’ and ‘Insta EMI Card’, with immediate effect
In the January-March quarter, the consolidated assets under management (AUM) of the company grew 34 percent on-year to Rs 3.31 lakh crore, as compared to Rs 2.47 lakh crore in a similar period last year.
As per Moneycontrol’s analyst call tracker, Bajaj Finance bagged 29 ‘buy’ calls from brokerages in the past month, two ‘hold’ and four ‘sell’ calls