FAQs
"The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.50 crore (Rupees Two crore Fifty lakh only) on Bajaj Finance Limited, Pune (the company), by an order dated January 05, 2021, for violation of (i) directions issued by RBI on Managing Risks and Code of Conduct in Outsourcing of Financial Services by ...
What is the penalty of Bajaj Finserv by RBI? ›
RBI imposes monetary penalty on Bajaj Finance Ltd
The Reserve Bank of India (RBI) has imposed, by an order dated January 03, 2019, a monetary penalty of ₹ 10.0 million on Bajaj Finance Ltd. (the NBFC) for violation of Fair Practices Code of Master Direction DNBR.
What is the action against Bajaj Finance RBI? ›
The action stands in violation of certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021' issued by the RBI. The banking regulator, by an order dated January 29, 2024, imposed a monetary penalty of Rs 5 lakh on the company.
Which bank fined 5 crore in RBI? ›
Reserve Bank of India waives ₹5 crore penalty imposed on Bank of Baroda.
Why Bajaj Finance is falling? ›
Analysts have also attributed the decline in Bajaj Finance's stock price to a slight deterioration in asset quality and elevated credit costs.
What happens if you don t pay back a unsecured loan in India? ›
Lenders can file a case in a civil court seeking repayment. Defaulters may face asset seizure or wage garnishment. Negotiation and settlement options may be explored before legal recourse. This will also reflect on your credit history and severely affect your ability to secure loans in the future.
What happens if I never pay EMI? ›
Decrease in the CIBIL Score
The most obvious impact is a decrease in the borrower's credit score. Missing even one instalment can lead to a drop in the score by 50 to 70 points. Most lenders look for a high credit score of around 750, so getting a loan in the future will be difficult.
Is Bajaj Finance controlled by RBI? ›
Yes, non-banking financial companies (NBFCs) in India are regulated and governed by the Reserve Bank of India (RBI). The RBI issues guidelines, sets regulations, and monitors the operations of NBFCs to ensure financial stability, protect consumers, and maintain the integrity of the financial system.
Is it safe to keep money in Bajaj Finance? ›
The Bajaj Finance FD has one of the highest [ICRA]AAA(Stable) and CRISIL AAA/STABLE ratings to ensure that your deposits are secured with us and safely invested. Portfolio diversification: A portfolio may be more susceptible to market risks if it is exposed primarily to equity assets.
Is Bajaj debt free? ›
Bajaj Finance has a total shareholder equity of ₹598.7B and total debt of ₹2,017.4B, which brings its debt-to-equity ratio to 336.9%.
Fixed Deposits are a secure and rewarding investment opportunity. Imagine having the flexibility to earn interest on your substantial investment every month. Our 5 crore Fixed Deposit scheme offers just that – a significant investment option with monthly interest payouts.
Which is the safest bank in India as per RBI? ›
The Reserve Bank of India (RBI) said State Bank of India, ICICI Bank and HDFC Bank continue to remain Domestic Systemically Important Banks (D-SIBs).
Which banks are getting penalty on RBI? ›
Reserve Bank of India imposes monetary penalty on 36 banks
| Sr. No. | Name of the bank | Amount of penalty (in ₹ Million) |
|---|
| 1. | Bank of Baroda | 40 |
| 2. | Catholic Syrian Bank Limited | 40 |
| 3. | Citibank N.A. | 40 |
| 4. | Indian Bank | 40 |
32 more rowsYes, investing in Bajaj Finance Fixed Deposit is safe. It is accredited with [ICRA]AAA(Stable) and CRISIL AAA/STABLE ratings, which indicate the highest level of safety and lowest investment risk. What are the minimum and maximum investment tenure? The tenure for Bajaj Finance Fixed Deposit ranges from 12 to 60 months.
How strong is Bajaj Finance? ›
Key Metrics for Bajaj Finance are: PE Ratio of Bajaj Finance is 31.18. Earning per share of Bajaj Finance is 223.04. Price/Sales ratio of Bajaj Finance is 8.20.
Which is bigger Bajaj Finance or Bajaj Finserv? ›
Conclusion. Given that Bajaj Finserv is the parent company of Bajaj Finance, its pool of operations is bigger. Therefore, its revenue is also larger. However, Bajaj Finance has shown solid performance both in its operations and financials.
What happens if I don't pay Bajaj Finance EMI? ›
An increased interest rate: If you haven't paid your EMIs, the lender will increase the interest rate and/ or levy additional fees and charges on your loan.
What is the punishment for not paying loan in India? ›
If you fail to return your debt, the lender may sue you in court. The court will then order that you repay the full amount or risk other penalties such as wage garnishment or asset seizure. If payments are late, the lender may report the loan to credit bureaus and send debt collectors after you.
What is the penalty charges of a loan? ›
This penalty usually constitutes a percentage of the remaining loan balance. Late payment fee: If you fail to make a loan payment on time, the lender imposes a fee. Typically, this late payment fee consists of a flat amount along with an additional penalty interest rate applied to the overdue sum.
What happens if you don't pay back a bank loan in India? ›
Legal action
Under section 138 of the Negotiable Instruments Act 1881, the lender has the prerogative to file a case against you in court and demand their money back. Also, if you identify as a wilful defaulter, the lender can press criminal charges under sections 403 and 415 of the IPC, 1860 against you.
