Financial stocks slump as RBI tightens consumer loan rules

Shares of Indian lenders, including SBI Cards & Payment Services and Bajaj Finance, dropped by at least 3% each after the Reserve Bank of India (RBI) announced measures to increase buffers on consumer loans. The NSE Nifty Bank Index fell by 1.3%, with SBI Cards declining by 6.8%. The RBI's move aims to control the surge in...