New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which organization recently received approval from the

    Reserve Bank of India (RBI) to commence asset reconstruction operations in the fiscal year 2024-2025?
    A Edelweiss Asset Reconstruction Company Limited Correct Answer Incorrect Answer
    B Hitachi Payment Services Pvt. Ltd Correct Answer Incorrect Answer
    C Bajaj Finserv Asset Management Limited Correct Answer Incorrect Answer
    D Shriram Group Correct Answer Incorrect Answer
    E Cholamandalam Investment & Finance Company Limited Correct Answer Incorrect Answer

    Solution

    The Shriram Group, headquartered in Chennai, Tamil Nadu, has been granted permission by the RBI to venture into the asset reconstruction sector during FY25. Shriram Credit, a branch of Shriram Capital Limited (SCL), will handle the wealth management side in partnership with various collaborators. Meanwhile, SCL itself will directly operate the asset reconstruction services. Additionally, Shriram Finance Limited (SFL), the largest retail non-banking financial company (NBFC) in India, anticipates a 15% increase in its Assets Under Management (AUM) for the year.

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