RBI puts Bajaj Fin on notice over co-branded cards

April 4, 2025

The Reserve Bank of India has issued a letter of ‘displeasure’ to Bajaj Finance for failing to identify customer risks in its co-branded credit card business, prompting the NBFC to respond. A crucial role in co-branding agreements was highlighted by RBI, and customer complaints had surged, leading Bajaj Finance to halt new co-branded credit card sourcing with its banking partners.

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