The company’s consolidated net profit rose by 21% to Rs. 3,825 crore, supported by a 28% increase in net interest income in the fourth quarter. Net interest income jumped to Rs. 8,013 crore from Rs. 6,254 crore a year ago.
RBI ban on Bajaj Finance: The RBI has asked Bajaj Finance to stop the sanction and disbursal of loans under two of its lending products with immediate effect, for not issuing Key Fact Statements to borrowers.
These supervisory restrictions will be reviewed after the rectification of the said deficiencies to the satisfaction of the Reserve Bank of India, reads a statement by a central bank