NBFCs redesign lending models ahead of revolving credit curbs
Bank of India launched an initiative.
· ET Stocks
Non-banking financial companies are innovating loan products to align with upcoming Reserve Bank of India guidelines. These guidelines aim to limit revolving credit facilities, prompting firms to develop term loans. Bajaj Finance has already begun launching new term loan variants, while Tata Capital is testing modified flexi-loan products.
The analysis
Against that, the stock is +0.6% on the day at ₹133.90, and has returned -4.7% over three months. It sits 24% below its 52-week high. The banks sector has moved -5.7% over the same period, so Bank of India is running 1.0 points ahead of its peers.
For Bank of India, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- With RBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The 3 companies named span 2 sectors, so these are separate company stories rather than one sector-wide move.
- On the day, 3 of 3 are higher: Bajaj Finance leads at +2.5% and Bank of India trails at +0.6%.
- Over three months: Bank of India -4.7% against Banks -5.7% (1.0 points ahead); Bajaj Finance -13.5% against Financial Services -12.4% (1.1 points behind); Tata Capital -6.3% against Financial Services -12.4% (6.1 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Bank of IndiaBANKINDIA · Banks | ₹133.90 | +0.6% | +3.4% | -4.7% | -24.4% | 0.6× | — |
| Bajaj FinanceBAJFINANCE · Financial Services | ₹994.00 | +2.5% | +4.8% | -13.5% | -14.2% | 1.7× | — |
| Tata CapitalTATACAP · Financial Services | ₹337.75 | +1.2% | +5.8% | -6.3% | -11.7% | 0.3× | — |
Banks
1M -1.3% · 3M -5.7%
Bank of India
Financial Services
1M -2.8% · 3M -12.4%
Bajaj Finance, Tata Capital
Capital Goods & Engineering
1M -6.4% · 3M -5.2%
Capital Markets
1M +3.3% · 3M -1.6%
Prices as of 4 Nov 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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