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    Question

    Which unlisted NBFCs recently (Oct 2025) went public in

    compliance with RBI’s upper layer regulations?
    A Shriram Finance and Bajaj Finserv Correct Answer Incorrect Answer
    B Tata Capital and HDB Financial Correct Answer Incorrect Answer
    C Mahindra Finance and L&T Finance Correct Answer Incorrect Answer
    D Muthoot Finance and Cholamandalam Correct Answer Incorrect Answer
    E Aditya Birla Finance and IIFL Finance Correct Answer Incorrect Answer

    Solution

    As per RBI’s rule, unlisted NBFCs in the upper layer must go public within three years of inclusion. Tata Capital and HDB Financial recently complied with this requirement by launching their public listings, aligning with RBI’s stricter transparency norms for large NBFCs.

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