RBI puts Bajaj Fin on notice over co-branded cards

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.