RBI draft NBFC lending norms hit financial stocks as Sensex, Nifty end lower

The Reserve Bank of India’s draft proposal to restrict revolving credit facilities for non-banking financial companies hit financial stocks on Friday. Bajaj Finance fell nearly 6 per cent as the Sensex fell 456 points. Hariselvan Radhakrishnan said, “The market’s concern is that a structural change could alter the growth trajectory.”