India's financial sector regulator, the Reserve Bank of India (RBI), has directed Bajaj Finance, the country's largest shadow bank, to stop using two of its lending products due to non-adherence to digital lending guidelines. This action led to a 4% drop in Bajaj Finance's stock. Additionally, the RBI has tightened norms on consumer loans, requiring banks and shadow lenders to set aside more capital as a buffer. Consequently, Indian lenders, including SBI Cards & Payment Services and Bajaj Finance, experienced a plunge of at least 3% each in their shares. The central bank's move to increase buffers on consumer loans has sent shares lower across the financial sector, impacting startups and hindering the expansion of digital reach by Indian lenders.
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Indian lenders’ ambition to expand their digital reach and capture a larger share of business in the world’s most populous nation risk being frustrated by outdated technology, regulations and a talent crunch https://t.co/9LGzqwX9Cr
Indian central bank tightening consumer loans to impact startups: https://t.co/BSuCx1etOa by TechCrunch #infosec #cybersecurity #technology #news
Indian central bank tightening consumer loans to impact startups https://t.co/O0COKKKDIH by @refsrc
India’s lenders such as SBI Cards & Payment Services and Bajaj Finance plunge at least 3% each after the central bank’s tighter-than-expected move to increase buffers on consumer loans sent shares lower across the financial sector https://t.co/QWAhOEZ3ag
India’s lenders such as SBI Cards & Payment Services and Bajaj Finance plunge at least 3% each after the central bank’s tighter-than-expected move to increase buffers on consumer loans sent shares lower across the financial sector https://t.co/MEzt6Zjgdf
India’s lenders such as SBI Cards & Payment Services and Bajaj Finance plunge at least 3% each after the central bank’s tighter-than-expected move to increase buffers on consumer loans sent shares lower across the financial sector https://t.co/HeiTZ2aekd
Indian lenders slide after cenbank tightens consumer lending rules https://t.co/GhoqTUncNp https://t.co/FW5pS6PRM8
India cenbank tightens rules for personal loans, credit cards amid demand surge https://t.co/bkTNsYwtn0 https://t.co/VnHkf8pAXc
India cenbank tightens rules for personal loans, credit cards amid demand surge https://t.co/TE71E686cq https://t.co/t1Dh2LmBSY
India's central bank tightens norms on consumer loans, directing banks and shadow lenders to set aside more capital as buffer https://t.co/Dgg7pROqFM
India's central bank tightens norms on consumer loans, directing banks and shadow lenders to set aside more capital as buffer https://t.co/NewVgL4V83
India's central bank tightens norms on consumer loans, directing banks and shadow lenders to set aside more capital as buffer https://t.co/71h2TETQDz
India's Bajaj Finance reverses course after dropping 4% on RBI ban order https://t.co/drbSPrMa5W https://t.co/JBAuEG9MTg
India's Bajaj Finance reverses course after dropping 4% on RBI ban order https://t.co/Jsmu8ds66A https://t.co/ctgKTHJtJv
India's Bajaj Finance reverses course after dropping 4% on RBI ban order https://t.co/zGT5KH584H https://t.co/mZ4z4UzyXS
Take a look at the top headlines: ➡️ RBI orders Bajaj Finance to halt two lending products ➡️ Diwali demand pushes imports, trade deficit to record high in October ➡️ Ashneer Grover, wife had links with firms using fake invoices, finds probe https://t.co/YwaF1KDTqH
India cenbank stops Bajaj Finance from issuing loans under two products https://t.co/liCqEc8X7F https://t.co/vtug6WeY3h
India cenbank stops Bajaj Finance from issuing loans under two products https://t.co/viZDbnKUzJ https://t.co/pgKu88AgJf
India’s financial sector regulator directs Bajaj Finance, the country’s largest shadow bank, to stop using two of its lending products, citing non-adherence to digital lending guidelines https://t.co/2FZXFXaMKC
India’s financial sector regulator directs Bajaj Finance, the country’s largest shadow bank, to stop using two of its lending products, citing non-adherence to digital lending guidelines https://t.co/JkfGrzatPw
India’s financial sector regulator directs Bajaj Finance, the country’s largest shadow bank, to stop using two of its lending products, citing non-adherence to digital lending guidelines https://t.co/JpJa7BCasQ
India cenbank stops Bajaj Finance from issuing loans under two products https://t.co/GVtU7mF094 https://t.co/ONW3YKswsT