Question

L&T Finance Ltd. has recently transitioned from an NBFC

Q: Answer-L&T Finance Ltd. has recently transitioned from an NBFC Core Investment Company (NBFCCIC) to a Non b...

LT 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.

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

B 15% increase in net profit; RBI issued new guidelines

C 29% increase in net profit; RBI issued a new registration certificate

D 35% increase in net profit; RBI canceled the registration

E 20% increase in net profit; RBI approved new policies

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L&T Finance Ltd. has recently transitioned from an NBFC

Solution