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04-Sep-23

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Bajaj Auto’s Subsidiary Receives RBI Approval for NBFC Operations

Bajaj Auto Limited, a leading player in the Indian automotive industry announced through the stock exchanges that its subsidiary, Bajaj Auto Consumer Finance Limited, has been granted a Certificate of Registration by the Reserve Bank of India (RBI), the company announced through an exchange filing.

The said license was received on August 31, 2023, Bajaj Auto said.
This Certificate of Registration, identified as No. N-13.02465 and dated August 29, 2023, has been issued under section 45-IA of the Reserve Bank of India Act, 1934.
It authorizes Bajaj Auto Consumer Finance Limited to initiate and operate as a non-banking financial institution (NBFC), with the stipulation that it does not accept public deposits.
In compliance with RBI guidelines, Bajaj Auto has also issued disclaimers to ensure transparency and awareness.

By: Brijesh Kumar

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