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Bajaj Auto Consumer Finance gets Certificate of Registration from RBI

Published on September 05, 2023
Current Context: The company has recently received the Certificate of Registration from the Reserve Bank of India (RBI) to commence the business of non-banking financial services. This means that the company can now officially operate as a Non-Banking Financial Company (NBFC) and provide loans and advances to customers.
Bajaj Auto Consumer Finance gets Certificate of Registration from RBI
  • Bajaj Auto Consumer Finance is a wholly-owned subsidiary of Bajaj Auto, which was set up in 2021 to offer financing solutions for vehicles manufactured or endorsed by Bajaj Auto and associate entities.
  • NBFCs are companies that are registered under the Companies Act, 2013 and engaged in the business of providing financial services such as loans, investments, insurance, chit funds, etc.
  • The operational manual of NBFCs is a document that outlines the policies and procedures for conducting various functions and activities of NBFCs.
  • It covers aspects such as customer KYC policy, anti-money laundering policy, customer acceptance policy, customer identification procedure, risk management policy, pre-settlement policy, asset classification policy, loan write-off policy, loan restructuring policy, etc.

Question:

Q.1 What is the name of the subsidiary of Bajaj Auto that offers financing solutions for vehicles manufactured or endorsed by Bajaj Auto and associate entities?
a. Bajaj Auto Finance
b. Bajaj Capital
c. Bajaj Finserv
d. Bajaj Auto Consumer Finance
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