Bajaj Finance Limited

RBI has restricted Bajaj Finance from sanctioning and disbursing loans under two digital lending products, effective immediately. The move follows non-compliance with digital lending guidelines and Key Fact Statement requirements.

Bajaj Finance cannot originate or disburse loans under eCOM and Insta EMI Card until RBI is satisfied that the deficiencies have been corrected. Borrowers seeking these products are directly affected, and the company must fix its KFS and related digital lending compliance gaps before the restriction can be lifted.

• Section 45L(1)(b) of the Reserve Bank of India Act, 1934

RBI imposed a monetary penalty of ₹8.50 lakh on Bajaj Finance Limited, Pune, for non-compliance with fraud-monitoring directions for NBFCs. The lapses related to not reporting and delayed reporting of certain frauds to RBI.

Bajaj Finance Limited must bear the monetary penalty and the finding signals regulatory non-compliance in its fraud reporting controls. There is no stated operational restriction, but the company may need to strengthen fraud monitoring and reporting processes to avoid further regulatory action.

• clause (b) of sub-section (1) of Section 58 G
• clause (aa) of sub-section (5) of Section 58 B of the Reserve Bank of India Act, 1934

RBI imposed a ₹2.50 crore penalty on Bajaj Finance Limited, Pune. The action followed violations of RBI directions on outsourcing and fair practices in NBFC recovery/collection conduct.

Bajaj Finance must absorb the penalty and address the compliance gaps flagged by RBI in outsourcing oversight and collections conduct. The action reinforces expectations around recovery-agent conduct, fair practices, and customer treatment, with implications for borrowers affected by collection practices.

• clause (b) of sub-section (1) of section 58 G
• clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934
• Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016

RBI imposed a monetary penalty of ₹10.0 million on Bajaj Finance Ltd. for violating the Fair Practices Code under its NBFC master directions.

Bajaj Finance Ltd. must absorb the monetary penalty and address the compliance deficiencies noted by RBI. The action has no stated direct restriction on business operations, but it signals supervisory concern over adherence to fair practices requirements for its customers.

• Section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934