Bajaj Finance Sees New Loans Growth Of 10% After RBI Lifts Curbs
Bajaj Finance Ltd.'s Assets under management rose 31% to Rs 3.54 lakh crore in the three months through June, according to a provisional quarterly business update filed with stock exchanges on Wednesday.
The non-banking financial service provider's loan book grew by 10% year-on-year to 1.09 crore in the quarter-ended June, after it resumed sanction and disbursal of loans under ‘eCOM' and ‘Insta EMI Card' and issuance of EMI cards, following the central bank's removal of restrictions on these businesses in early May.
The Reserve Bank of India in November had barred the company from lending under its two offerings due to non-adherence to the digital lending guidelines—non-issuance of key fact statements to borrowers and deficiencies in KFS issued with respect to other digital loans sanctioned by the company.
The reversal of RBI's restrictions happened based on the remedial actions taken by the company, Bajaj Finance said.
Net liquidity surplus stood at Rs 16,200 crore as of June, while the company's deposits book came at Rs 62,750 crore, a growth of 26% year-on-year.
Shares of Bajaj Finance closed 1.25% higher at Rs 7,251.8 apiece, ahead of the announcement, as compared to 0.69% advance in the benchmark S&P BSE Sensex.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
