Bajaj Finance to launch new term-loan variants from Nov 1 as RBI weighs revolving credit ban

Bajaj Finance will launch new term-loan variants on November 1 that disallow withdrawals after repayment but add other features. The move responds to the RBI's August 6 draft circular proposing a ban on revolving credit by NBFCs. MD Rajeev Jain said a complete ban could have a transient impact on AUM and marginally compress NIM and profitability. The RBI draft lets NBFCs authorised to issue credit cards continue revolving credit through those products.

Source: ET BFSI ↗