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Bajaj Finance stock rises 7% as RBI lifts restrictions

RBI on Friday removed the ban imposed on Bajaj Finance for two of its products including eCOM and online digital  ‘Insta EMI Card’.

Lifted ban on products

This resulted in the company’s share price increasing more than 7%, reaching Rs. 7400 in the first half of Friday.

Share price increase

RBI had imposed the ban on the company’s two products due to the failure to follow its digital lending guidelines related to the non-issuance of key fact statements to borrowers. 

Reason for ban

The ban was imposed by RBI last year on 15th November, which is now lifted as the company has complied with the regulations.

Timeline

The shares of Bajaj Finance were trading in a range of Rs. 7051.50 to Rs. 7400.00 on Friday against the previous closing of Rs. 6882.70.

Share price

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