Bajaj Finance Ltd from lending under its eCOM and Insta EMI Card products.“This action is necessitated due to non-adherence of the company to the extant provisions of digital lending guidelines of Reserve Bank of India, particularly non-issuance of key fact statements to the borrowers under these two lending products and the deficiencies in the key fact statements issued in respect of other digital loans sanctioned by the company," the RBI said in a press release on Wednesday.The regulator said it will review the supervisory restrictions after the company rectifies deficiencies to the RBI’s satisfaction. (Read More)U.S.
stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target .Shares in Target surged after the retailer forecast a fourth-quarter profit largely above expectations on easing supply-chain costs.Target's bright outlook lifted shares of other retailers including Macy's and Kohl's. The S&P 500 consumer staples index, which includes Target, was among the top sector gainers throughout the session.Stocks had rallied on Tuesday after a softer-than-expected consumer price index (CPI) reading boosted optimism that the Fed might be able to avoid raising rates further.Additional data on Wednesday showed the biggest decline in producer prices in 3-1/2 years in October on the back of cheaper gasoline, offering more evidence of easing price pressures.
Read more on livemint.com