Bajaj Auto, in its exchange filing on 1 September, said that its subsidiary Bajaj Auto Consumer Finance has received the Certification of Registration from the Reserve Bank of India on 31 August to start its business as a non-banking finance company.

The company also said that Bajaj Auto Consumer will carry out its business of non-banking financial institution without accepting public deposits.

The RBI also included a disclaimer while issuing the licence. It said, “Reserve Bank of India neither accepts any responsibility nor guarantees the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for discharge of any liability by the company.”

In its quarterly report for the April-June quarter, the company reported a 42% YoY increase in net profit at Rs 1,665 crore against the Rs 1,173 crore reported in the same quarter in the previous fiscal year.

At 3:30 pm, the shares of Bajaj Auto closed at Rs 4,649.35 or 0.77% above its previous close on NSE.