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    Question

    L&T Finance Ltd. has recently transitioned from an NBFC Core Investment Company (NBFCCIC) to a Non banking Financial Company (Investment and Credit Company) (NBFCICC). What was the percentage increase in L&T Finance Ltd.'s net profit for Q1 FY25, and what is the RBI's role in this transition?

    A 25% increase in net profit; RBI approved the merger Correct Answer Incorrect Answer
    B 15% increase in net profit; RBI issued new guidelines Correct Answer Incorrect Answer
    C 29% increase in net profit; RBI issued a new registration certificate Correct Answer Incorrect Answer
    D 35% increase in net profit; RBI canceled the registration Correct Answer Incorrect Answer
    E 20% increase in net profit; RBI approved new policies Correct Answer Incorrect Answer

    Solution

    L&T Finance Ltd. reported a 29% increase in net profit for Q1 FY25 and transitioned to an NBFCICC after the RBI issued a new registration certificate on August 2, 2024.

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