New Delhi, Nov. 10 -- Bajaj Finance Ltd has lowered its credit growth guidance for the current financial year to 22-23% on year from its earlier expectation of 24-25% as the non-bank lender grapples with emerging stress in its micro, small and medium enterprises (MSME) portfolio, managing director Rajeev Jain said.

The company, known for its aggressive expansion across consumer and commercial lending, said it has adopted a 'risk-first' approach to preserve asset quality and long-term sustainability.

The slowdown in MSME and two-wheeler lending has led the company to adopt a more 'balanced and prudent stance' on asset growth this year.

"We now think growth will be in the region of 22-23%, compared to 24-25% earlier, due to a set of risk...