In a setback to Bajaj Finance, the Reserve Bank of India (RBI) has directed an immediate halt to loan sanctions and disbursals for the company’s ‘eCOM’ and ‘Insta EMI Card’ products. The action stems from Bajaj Finance’s non-compliance with RBI’s digital lending guidelines, specifically regarding the absence of Key Fact Statements (KFS) for borrowers and deficiencies in existing statements. The regulator emphasized that the restrictions will be reconsidered upon rectification of these issues to the satisfaction of the RBI. Bajaj Finance’s InstaEMI Card, offering loans up to Rs 2 lakh with flexible repayment options, faces a pause in operations following this directive.