RBI bans Bajaj Finance to stop lending under ecom and insta emi products with immediate effect- WHY?

RBI governor got spammed a bit too much by Bajaj Finance callers.

This is a last ditch effort to stop them. Too bad, won't work.

Yes. RBI just does things when it believes nbfcs are taking the role of banks. They get lobbied by big banks to stop the show. Same playbook followed to stop slice, uni, etc

Actually, I have been getting too many calls from Bajaj Finance for CCs and Credit Products.

I presume most people who are fiscally prudent will deny but sub prime lending will potentially lead to a credit bubble.

I hope not too worrisome.

Is it due to Credit bubble by subprime lending? I have heard this before

but whats the internal news on this?! anyone knows?