RBI restrictions on eCOM and Insta EMI Card not yet lifted
The embargo on two products continues to impact loan bookings and AUM growth; timing of removal is uncertain.
BAJFINANCE / Q4-FY24 / risks
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Bajaj Finance · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Rural B2C credit stress persists
Rural B2C business continues to show elevated loan losses, leading to slower growth; management has slowed AUM growth to 6% but risk remains.
Intense competition in mortgage space pressuring BHFL margins
Management noted 'madness' in mortgage competition, with home loans being distributed at 8.4-8.5% against borrowing costs of 8.3%, squeezing NIMs.
Potential ROE drag from excess capital
Management acknowledged that ROE in FY25 may marginally decline due to the recent capital raise, as excess capital sits on the balance sheet.