Is Bajaj Finance's decline a sign of looming crisis in India's NBFC sector?

Bajaj Finance's stock decline highlights growing stress in sectors served by NBFCs, including microfinance and MSMEs. Despite improved banking liquidity, asset quality faces challenges, with rising NPAs. Even traditionally stable segments like loans to doctors are showing strain. Analysts eye the festive season, hoping increased consumption will alleviate the stress on loan repayments and asset quality for NBFCs.