Shares of Bajaj Finance witnessed heavy selling pressure on Friday, August 7, after the Reserve Bank of India’s proposed guidelines for non-banking financial companies (NBFCs) raised concerns among investors. The stock emerged as the worst-performing Sensex constituent, falling 5.5 per cent to ₹1,086 on the BSE. The sharp decline wiped out more than ₹33,500 crore from the company’s market capitalisation, which fell to around ₹6.82 trillion from ₹7.15 trillion in the previous session.
The market reaction followed the RBI’s draft proposal suggesting that NBFCs should provide only term loans and discontinue revolving credit products, except for those authorised to issue credit cards. The proposed changes could have a significant impact on Bajaj Finance due to its large exposure to flexi loan products, which form an important part of its lending portfolio.
Analysts said the new norms, if implemented in their current form, may affect the company’s loan growth, fee income, and future product strategy. Investors are concerned that the changes could lead to slower earnings growth in the medium term.
Experts also pointed out that the RBI guidelines are still in the draft stage and any final implementation is expected to be carried out gradually. However, uncertainty over the regulatory changes has already triggered selling pressure in Bajaj Finance and other NBFC stocks. The company’s future performance will depend on how it adapts its lending model to meet the evolving regulatory framework.
