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?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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