Team Blitz India
NEW DELHI: Bajaj Finance has received approval from the Reserve Bank of India (RBI) to resume sanctioning and disbursing new loans under its lending products, eCOM and Insta EMI Card. The apex bank had slapped restrictions on the company last year for ‘non-adherence’ with the digital lending guidelines.
“We wish to inform that the RBI, vide its letter dated 2 May 2024, based on the remedial actions taken by the Company, has conveyed its decision of lifting the said restrictions on eCOM and online digital ‘Insta EMI Card’, with immediate effect,” Bajaj Finance stated in a regulatory filing.
“The Company would now resume sanction and disbursal of loans in the above two business segments including issuance of EMI cards. The Company remains committed to ensure adherence and compliance of regulatory guidelines,” the exchange filing read.
