eCOM, Insta EMI Card ban may hit Bajaj Finance for 1-2 qtrs: Analysts

Following the development, shares of Bajaj Finance tumbled 4 per cent in the intraday trade, before recouping losses to end 1.9 per cent higher at Rs 7,366 per share

The Reserve Bank of India's latest order prohibiting Bajaj Finance from sanctioning and disbursing loans under its 'eCOM' and 'Insta EMI Card' products may not have serious implications on the non-banking finance company's profitability, provided the ban is lifted within six to eight weeks, analysts said on Thursday.
 

"In a surprise move, the RBI has asked Bajaj Finance to stop sanction and disbursal under two of its digital lending products. While the move is negative, the speed of correction will be key to reinstate products," global brokerage Jefferies said in a report.

 

On Wednesday, the Reserve