Question
RBI has released a list of NBFCs placed under the upper
layer under the scale based regulations.With respect to the information provided, which of the following statements is/are correct? I.The Reserve Bank of India (RBI) listed out the names of 15 non-banking financial companies (NBFCs) placed under the upper layer as per scale-based regulation (SBR) for 2023-24. II.Bajaj Finance Limited ranked first on the list, followed by LIC Housing Finance Limited on second and Shriram Finance Limited (formerly Shriram Transport Finance Company Limited) on third. III.TMF Business Services Limited (formerly Tata Motors Finance Limited) was not included in the list despite qualifying due to its ongoing business reorganization.Solution
The Reserve Bank of India (RBI) listed out the names of 15 non-banking financial companies (NBFCs) placed under the upper layer as per scale-based regulation (SBR) for 2023-24.LIC Housing Finance Limited ranked first on the list, followed by Bajaj Finance Limited on second and Shriram Finance Limited (formerly Shriram Transport Finance Company Limited) on third.TMF Business Services Limited (formerly Tata Motors Finance Limited) was not included in the list despite qualifying due to its ongoing business reorganisation.
Given below are two statements:
Statement I
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