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These terms and conditions ("WhatsApp Terms and Conditions" as amended from time to time) are applicable to the Customers (defined hereinafter) that avail the Services (defined hereinafter) provided thereon by ICICI Securities Limited ("ICICI Securities") on the WhatsApp platform.

The WhatsApp Terms and Conditions shall be in addition to any other terms and conditions as stipulated by the ICICI Securities from time to time on its website (www.icicidirect.com) whether pertaining to the account or in relation to other products, services or facilities provided by ICICI Securities.

Any services that may be offered to the customer through the WhatsApp platform ("WhatsApp") is at the discretion of the ICICI Securities and/or basis the eligibility criteria of a customer and such services are subject to certain terms and conditions. In case of conflict between any of these WhatsApp Terms and Conditions and the terms and conditions for other services provided on the WhatsApp channel, specific terms and conditions of such services shall prevail.

Further, in case of inconsistency between the WhatsApp Terms and Conditions and any specific terms and conditions pertaining to account or any specific service/product/offer, the specific terms and conditions of that particular service/product/offer shall prevail.

1. DEFINITIONS

"Trading Account" refers to the trading account maintained by the Customer with ICICI Securities.

"Trading Account Related Services" shall mean the Services which pertain to information in relation to the Trading Account maintained with ICICI Securities by customer including but not limited to portfolio valuation, stock quote, order details, trade details etc which are enabled by ICICI Securities, from time to time, at its sole discretion.

"Registered ICICI Securities Number" is the authorized number of ICICI Securities, registered with WhatsApp for the purposes of providing Services herein.

"Customer" shall mean any person holding Trading Account or any prospective customer with ICICI Securities and interacting with ICICI Securities on WhatsApp using the Registered ICICI Securities Number / using the Services provided by ICICI Securities through WhatsApp. "Customer Information" refers to the personal data or information or such other data or information including any sensitive personal data in relation to the Customer such as information in relation to the trading account of the Customer, shared by the Customer or provided to the Customer by ICICI Securities or collected or obtained from the Customer or from WhatsApp or from any such source in the course of the Customer availing the Services hereunder.

"One Way Communication" shall mean the service provided by ICICI Securities to the Customer on WhatsApp where ICICI Securities sends its Customer one-way messages through its Registered ICICI Securities Number in the nature of information, alerts, updates, transaction alerts in relation to the Customer's Trading Account and such other communications as ICICI Securities may enable from time to time, at its discretion.

"Privacy Policy/Privacy Commitment" shall have the meaning as ascribed on the Website; "Service(s)" shall mean the One Way Communication and Two Way Communication services provided by ICICI Securities by itself or through any of its service providers, to a Customer on WhatsApp.

"Two Way Communication" shall mean the service provided by ICICI Securities to the Customers on WhatsApp where the Customer can communicate with ICICI Securities by sending it messages in the form of making requests, seeking information, asking queries etc. on the Registered ICICI Securities Number and where ICICI Securities responds to such messages. However, this service and ICICI Securities responses shall be limited only to such queries, information, requests etc. as may be determined by ICICI Securities from time to time, at its sole discretion.

"WhatsApp" is the application provided by WhatsApp Inc. 1601 Willow Road, Menlo Park, California 94025.

2. INTERPRETATION

All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
Words importing any gender include the other gender. 'We/us' refers to ICICI Securities and 'You/yours' refer to the customer using the WhatsApp facility.
Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations,amendments, re-enactments or replacements for the time being in force.
All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms and Conditions.
Reference to any law or legislation, regulation, rule shall mean, applicable, constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, notice, requirement or governmental restriction, having the force of law in any jurisdiction and include laws as amended from time to time.

3. PURPOSE

This WhatsApp platform serves as a supplementary medium through which we can communicate with you and provide Services and further enable certain services as ICICI Securities may decide in its sole discretion.

4. ELIGIBILITY FOR USING THE SERVICES

The Customer hereby agrees and undertakes that he/she shall use the Services only if he/she fulfills the eligibility as given below:

The Customer is an individual and is a major;
The Customer is a Guardian of a minor;
The Customer is of sound mind, solvent and competent to contract;
The Customer is a resident of India and is present in the territory of India at the time of utilization of the Services;
The Customer is a non-resident India (NRI) or is residing outside India.
The Customer is Principal Authorised Signatory of the Non Individual Account.

5. APPLICABILITY OF WHATSAPP TERMS AND CONDITIONS

These WhatsApp Terms and Conditions form a contract between the Customer and ICICI Securities. The Customer shall apply to ICICI Securities in the prescribed manner for availing of the Services. By applying and opting in for the Services, the Customer acknowledges that he has read, understood and accepted these WhatsApp Terms and Conditions and other specific terms and conditions as pertaining to the Account and any other products/offers/facilities and services availed by the Customer whether or not through WhatsApp.

No act, delay or omission by ICICI Securities shall affect its rights, powers and remedies under these Terms and Conditions and other terms on ICICI Securities website (www.icicidirect.com), hereinafter referred to as "Website".

The Customer hereby accepts and agrees that all Services and communications (both One Way Communication and Two Way Communication) taking place on WhatsApp, initiated either by ICICI Securities or the Customer, will be governed by and subject to these WhatsApp Terms and Conditions. Further, the Customer hereby agrees that the Customer grants express authority to ICICI Securities for carrying out the Services requested by the Customer on WhatsApp on its Registered ICICI Securities Number. Provided however that ICICI Securities shall not be required to authenticate the Customer, if any request for the Services comes on WhatsApp to ICICI Securities Registered Number, and in case of a Customer, if the number reflected in the requestor's mobile is a Customer's Registered Number, ICICI Securities shall be entitled to presume that it is the Customer itself which is interacting through WhatsApp and in case of any other Customer ICICI Securities shall be entitled to presume that the number reflected in the WhatsApp profile is the Customer's number and it is the Customer itself and not any other person who is interacting with ICICI Securities Registered Number. ICICI Securities's own record or log of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes.

6. SERVICES

The Customer agrees and accepts that ICICI Securities reserves the right to provide only such Services as ICICI Securities may at its discretion permit from time to time. ICICI Securities may also inform/update the availability/non-availability of any particular Service, at its sole discretion. The Customer hereby agrees that ICICI Securities may at any time, without notice to the Customer, modify, discontinue or make additions/deletions to the Services offered to the Customer. The Customer agrees that he shall not hold ICICI Securities responsible for not responding to the queries of/ information sought by the Customer or not providing a response to the satisfaction of the Customer or not processing any request of the Customer, in case such a message sent by the Customer in case ICICI Securities does not receive an instruction to this effect in its systems or the message sent by the Customer is not in the format as required by ICICI Securities or does not fall under the Services being offered by ICICI Securities at the time or ICICI Securities does not receive such a message for technical reasons or otherwise or for any reason whatsoever. ICICI Securities will have no liability in case of any fraud or impersonation incidents through the WhatsApp platform. Further, in case ICICI Securities permits any Service in the nature of a transaction, the Customer agrees that such a Service shall be subject to statutory/ regulatory limits and/or any limits that may be imposed by ICICI Securities, from time to time, at its sole discretion.

7. REGISTRATION AND VERIFICATION

For availing the One Way Communication and Two Way Communication service, the Customer agrees and confirms to have accepted (a) the WhatsApp Terms and Conditions applicable to the Customer for availing the Services mentioned herein; (b) the Privacy Policy of ICICI Securities applicable to the Customer for availing the Services mentioned herein; (c) any other Account/product/service/offer related specific terms and conditions as applicable and (d) all terms and conditions prescribed by WhatsApp for using its platform.

Provided that, ICICI Securities may modify the process for authentication, registration and/or verification of the Customer, for One Way Communication and/or Two-Way Communication, at any time, at its sole discretion.

8. UNSUBSCRIBE

You may choose/request for de-registration/un-subscription of the Services at any point of time by following the process as may be prescribed by ICICI Securities from time to time. Currently ICICI Securities provides the following channels for un-subscription:

Our Website: Visit the WhatsApp un-subscription section on our Website. Enter your mobile number. Enter the OTP received on your registered mobile number and submit.
Missed Call/ SMS to a specific number as updated on the Website.
Send 'STOP' keyword on the WhatsApp platform.

However, the Customer agrees that for this to come into effect, it may take such time as may be required by ICICI Securities. The Customer agrees that he will remain responsible for any requests made/ messages sent to ICICI Securities using the Services prior to the time such cancellation of the Services is effected by ICICI Securities. ICICI Securities will be at liberty to discontinue/ suspend/ terminate the Customer's use of the Services at any time without assigning any reason whatsoever. ICICI Securities may also discontinue or suspend or terminate Services/ facilities without prior notice if these Terms and Conditions are breached.

Once we have received the notification that you have unsubscribed, we will no longer process your information for the purpose(s) you originally agreed to and sent any further notification/message through WhatsApp, unless legally permissible otherwise.

9. IMPORTANT

The Customer shall apply to ICICI Securities for use of the Services (and/or for any changes to the options available under the Services) in such manner and through such modes as may be specified and made available by ICICI Securities from time to time including but not limited to application through forms as prescribed by ICICI Securities, 24-Hour customer care number, SMS if and when made available as permitted modes by ICICI Securities for use of the Services through the WhatsApp platform.
ICICI Securities in its sole discretion shall decide the devices, software platforms, versions, networks, methods, and data services that will be supported by the WhatsApp platform for providing these Services. Any attempts to modify unsupported versions for use in the WhatsApp platform will be treated an unauthorized use and violation ("Unauthorized Use") of these WhatsApp Terms and Conditions. The Services through the WhatsApp platform shall be suspended with immediate effect if there is Unauthorized Use by the Customer.
The Customer agrees that the Customer shall be responsible for upgrading any software, hardware and the operating system at his/her own cost from time to time so as to be compatible to continue to avail the Services offered by ICICI Securities. ICICI Securities shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc. from time to time and shall be under no obligation to support the software, hardware, operating systems used by the Customer and that the same shall be the Customer's sole responsibility. Some Services may not work on an outdated platform and hence it is Customer's sole responsibility to ensure timely upgradation of the WhatsApp platform.
By subscribing to Services on WhatsApp platform, the Customer agrees to get notifications via WhatsApp including account information, transaction details, and other services/communications. Customer also agrees to receive notifications including offers, new product features, any other important notification sent by ICICI Securities from time to time etc. on the Registered Customer Number via WhatsApp.
The Customer agrees that any Trading Account related Services at the discretion of ICICI Securities shall be provided to the Customers through WhatsApp platform only to a WhatsApp account associated with the Registered Customer Number.
The Customer is aware that it may not be possible for ICICI Securities to give detailed information on the Service/functionalities. ICICI Securities shall not be responsible or liable to you or any third party for the consequences arising out of or in connection with using of this Service or with respect to the limited information provided by ICICI Securities on WhatsApp. In case the Customer requires further information, Customer can reach out to ICICI Securities either in the nearest branch, on ICICI Securitiess Customer Care number or through any other channels provided by ICICI Securities.
The responses sent by ICICI Securities on WhatsApp platform (either for One Way Communication and/or Two Way Communication) are based on a program running at back-end. This program has been developed and regularly enhanced to handle the queries in best possible manner. However, for any answers that the Customer may not find satisfactory or for any inaccuracies arising therefrom, ICICI Securities shall not be held responsible. The Customer may call Customer Care number or email at headservicequality@icicidirect.com or nri@icicidirect.com or visit www.icicidirect.com in case of any clarifications.
The Customer agrees that ICICI Securities and / or its affiliates may hold and process the Customers personal information concerning the account/s on computer or otherwise in connection with the WhatsApp facility. You agree and consent that we may collect, store, use and/or disclose your personal data for the Services as detailed on our Website. The Customer also agrees ICICI Securities may disclose, in strict confidence, to other institutions, its service providers, such information as may be reasonably necessary for reasons inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive and for fraud prevention. The Customer using the WhatsApp facility authorizes ICICI Securities to collect and use technical information about the equipment and related software, hardware and peripherals and any data and information stored in the equipment, whether internet-based or wireless, to improve ICICI Securities products and to provide services to the Customer.
All records of ICICI Securities generated by the transactions arising out of use of the Services through the WhatsApp platform, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.
Where ICICI Securities considers the instructions to be inconsistent or contradictory with any past instructions or any simultaneous instructions provided by Customer to ICICI Securities through other channels provided by ICICI Securities it may seek clarification from the Customer before acting on any instruction of the Customer or act upon any such instruction as it may deem fit. ICICI Securities shall have the right to suspend the Services if ICICI Securities has reason to believe that the Customer's instructions may lead to direct or indirect loss or may require an indemnity from the customer.
The Customer accepts that all information /instructions will be transmitted to and /or stored at various locations and be accessed by personnel of ICICI Securities (and its affiliates) or its service providers.
On the Customer opting in for the Services through the WhatsApp platform, ICICI Securities has the discretion to stop sending these alerts on SMS or any other channel.
The Customer is responsible for keeping security safeguard of his WhatsApp account linked to the mobile number.
The Customer understands that using WhatsApp application may carry extra risks and may not be secured. Further any message and information exchanged is subject to the risk of being read, interrupted, intercepted, or defrauded by third party or otherwise subject to manipulation by third party or may involve delay in transmission. ICICI Securities shall not be responsible or liable to the customer or any third party for the consequences arising out of or in connection with using of this Service.
The Customer understands that mobile phones are vulnerable to the threats such as but not limited to -
- Access by intruders to the data /information
- Identity theft
- Privacy violations
- Planting of stealth software and viruses
- Disablement or distortion of operations
- Interception of the transmission of encrypted data/message etc.
- The Customer shall immediately notify ICICI Securities in writing if Customer discovers/ suspects unauthorized access.

ICICI Securities shall not be responsible or liable to the Customer or any third party for the consequences arising out of or in connection with using of this Service. The Customer should immediately opt-out of the Services as per the unsubscribe process as detailed in section 8 above.

The Customer is aware that using mobile applications involves many uncertain factors and complex software, hardware, systems, etc. which are susceptible to interruptions and dislocations. ICICI Securities does not make any representation or warranty that the WhatsApp facility/service will be available at all times without any interruption and further that ICICI Securities shall not be responsible for any variation, reduction or imposition of the terms or the customers inability to use the mobile application.
The Customer is aware that authenticated technologies and strict security measures are required for using mobile applications. Customer undertakes to ensure that the password is not revealed to any third party including ICICI Securities officials or any unauthorized person. Customer shall be solely responsible for all the communication exchanged between customer and ICICI Securities while logging into this service.
Under no circumstances shall ICICI Securities, or its officials, employees, be liable for any direct, indirect, punitive, incidental, special, or consequential damages that result from the use of, or inability to use, this service or for receipt of any answer provided by ICICI Securities program running at the back-end.
The Customer agrees that the Customer shall not have any claim against ICICI Securities on account of any suspension, interruption, non-availability or malfunctioning of the WhatsApp service due to any link/mobile/system failure at ICICI Securities end for any reason thereof.
The Customer shall not reproduce, copy, or redistribute for commercial purposes any materials or design elements of this WhatsApp service.
The Customer shall ensure appropriate data network connection. Receipt of messages by Customer shall be subject to the data network connection and ICICI Securities shall not be held responsible for any delay or non-receipt of the responses at WhatsApp channel.
The Customer shall not submit or transmit any content through this WhatsApp channel that is:
- Obscene, Vulgar, or Pornographic, immoral, illegal, illicit, unethical etc.
- Encourages the commission of a crime or violation of any law.
- Violates any law in India and/or the jurisdiction in which customer resides.
- Infringes the intellectual or copyrights of ICICI Securities or a third party.
- Constitute confidential information and/or personal or sensitive information/data belonging to the Customer or any third person.
ICICI Securities reserves the right to remove or otherwise delete any content or submissions made by the Customer that violates the rules or which are inappropriate, as per ICICI Securities's sole discretion, without any liability or giving warning to the Customer.
All instructions for availing the services under the WhatsApp facility shall be provided through the Registered Customer Number in the manner indicated by ICICI Securities. The Customer is also responsible for the accuracy and authenticity of the instructions provided to ICICI Securities and the same shall be considered to be sufficient for availing of the services under the WhatsApp facility. The alerts would be sent on the mobile phone number, last registered with ICICI Securities.
The Customer agrees that if he/she notices any error in any information supplied to the Customer by the use of any of the Services, the Customer shall inform ICICI Securities of the same, as soon as possible. ICICI Securities will endeavor to correct the error promptly. The Customer agrees that all outputs of statements that may appear on WhatsApp, upon making a request to that effect, are information extracted from a computerized back up system maintained by ICICI Securities and may not be continuously be updated in real time. ICICI Securities shall provide the information as may be last updated on the systems of ICICI Securities. While ICICI Securities will take all reasonable steps to ensure the accuracy of the statement, ICICI Securities is not liable for any error and shall not hold ICICI Securities responsible for any loss incurred or action taken by the Customer by relying on such information.
The Customer agrees that the responses received by the Customer from ICICI Securities are based on program running at backend. This program has been developed and regularly enhanced to handle the queries in best possible manner. However, for any inappropriate/inaccurate answers or any answers that the Customers may not find satisfactory, ICICI Securities shall not be held responsible.
It is recommended for Customers who have subscribed to this WhatsApp service to delete WhatsApp application when changing their device so as to ensure there is no misuse of the same.
That all the Services provided to the Customer are subject to applicable law and the rules, regulations, notifications, circulars and guidelines introduced or amended from time to time by Securities & Exchange Board of India and/or any regulatory/ statutory/ governmental authority.
ICICI Securities has the right to retract the Customer's right to utilize the Service anytime it deems fit without any notice to the Customer.
The Customer hereby acknowledges that he is availing the Service(s) at his own risk and the Customer shall not hold ICICI Securities responsible or liable for any of the risks including but not limited to the following:
- Password misuse- The Customer acknowledges that if any third person obtains access to the Customer's device or SIM card or the Customer's WhatsApp, such third party may be in a position to access Customer information including Trading Account related information of the Customer, which may be confidential in nature.
- Mistake/Error- the Customer acknowledges that the Customer may be sent responses or shown information which may not be applicable to him/her or may not be sent a satisfactory response, and the Customer agrees that in such a scenario ICICI Securities shall not be liable for any loss to the Customer in this regard. The Customer shall therefore take all care to ensure that there are no mistakes and errors and that the message sent/ request made/ query asked by the Customer to ICICI Securities in this regard is error free, accurate, proper and complete at all points of time. The Customer agrees that ICICI Securities is providing the Services at the Customer's sole risk. The Customer agrees that ICICI Securities shall not be liable for any loss, damages or consequences whatsoever arising due to any erroneous or incomplete information or any delay in executing the instructions for reasons beyond the control of ICICI Securities. The Customer shall be liable and responsible to ICICI Securities and accede to accept ICICI Securities's instructions without questions for any unfair or unjust gain obtained by him in the course of availing of the Services.
- It may also be possible that the site of ICICI Securities may require maintenance or is otherwise down or there is a technical failure and during such time it may not be possible to process the request of the Customers. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. The Customer understands that ICICI Securities disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by ICICI Securities to honour any Customer instruction for whatsoever reason. The Customer unequivocally and unconditionally understands and accepts that ICICI Securities shall not be responsible for any of the aforesaid risks. The Customer also accepts that ICICI Securities shall disclaim all liability in respect of the said risks.
The Customer agrees that the Registered ICICI Securities Number on the WhatsApp platform cannot be used for grievance redressal or reporting fraud as of now, ICICI Securities will have no liability on reporting of such incidents received through WhatsApp. The Customer may call Customer Care number or email at headservicequality@icicisecurities.com or visit www.icicidirect.com in case of any clarifications.
These WhatsApp Terms and Conditions may be withdrawn, superseded or modified at any time whatsoever, by ICICI Securities without any prior notice.

10. THIRD PARTY

WhatsApp is owned by a third-party unaffiliated with ICICI Securities. The Customer shall independently be guided by the privacy policies of WhatsApp and the third parties or group companies of WhatsApp and ICICI Securities has no control over them. ICICI Securities is not responsible for the privacy or security policies at these sites or other third-party sites that may be linked to within ICICI Securities's social media channels. The Customer should always review the privacy and security practices and policies of each third-party site you visit. ICICI Securities does not endorse and is not responsible for any ads, content, products, advice, opinions, recommendations or other material of third-party sites that may be promoted via advertising within any social media channels.

The Customer further understands and agree that WhatsApp or any other service provider through which we are providing the WhatsApp facility can review and monitor, store the contents shared/communicated through the WhatsApp or other service provider(s) and may share the same with third parties.

Hence, we strongly recommend that you:

Never share privacy-sensitive details via WhatsApp messages/ through the WhatsApp facility.
That we will not send messages of our own accord this way and will only respond to the messages sent to us except for any important communication and awareness messages.
Not to contact us through the WhatsApp channel for complaints, grievances or similar important matters.

11. DISCLAIMER OF LIABILITY

ICICI Securities shall not be responsible for any failure on the part of the Customer to utilize the WhatsApp facility due to the Customer not being within the geographical range within which the WhatsApp facility is offered and which forms part of the roaming network of such cellular service provider, providing services to the Customer availing such roaming facility from the respective cellular service provider. If the customer has reason to believe that the mobile phone number is / has been allotted to another person and / or there has been an unauthorized transaction in the account and / or his mobile phone handset is lost, he shall immediately inform ICICI Securities of the same.

The Customer agrees that ICICI Securities shall not be liable if:

the Customer has breached any of the terms and conditions, contained herein or
the Customer has contributed to or the loss is a result of failure on part of the Customer to advise ICICI Securities within a reasonable time about unauthorized access of or erroneous transactions by use of the Services; or
as a result of failure on part of the Customer to advise ICICI Securities of a change in or termination of the Customer's mobile phone numbers/SIM ("Subscriber Identity Module") cards.
there has been an unauthorized transaction/instruction provided through the WhatsApp channel as a result of any person having control or custody of telecommunications instrument (such as the mobile handset) so that such instrument may be used to give telecommunications instruction without authorization or any other issue/default/error/technological problem in the telecommunication instrument (such as the mobile handset) or duplication of mobile number / SIM of the Customer such as but not limited to SIM card cloning, virus in handset etc.

ICICI Securities shall endeavor to provide the WhatsApp facility on a best effort basis and the Customer shall not hold ICICI Securities liable for non-availability of the WhatsApp facility or non-performance by service providers, if any, engaged by ICICI Securities or any loss or damage caused to the Customer as a result of use of the WhatsApp facility for causes which are not attributable to ICICI Securities. ICICI Securities shall not be liable in any manner to the Customer in connection with the use of the WhatsApp facility.

ICICI Securities shall endeavor to carry out the instructions received from the Customer through the WhatsApp channel promptly, provided that ICICI Securities, shall not be responsible for the delay in carrying out such instructions due to any reason whatsoever, including, but not limited to, failure of operational system or any requirement of law or ICICI Securities's internal policies.

The Customer accepts that each WhatsApp communication may contain certain account information relating to the Customer. The Customer authorizes ICICI Securities to send account related information, though not specifically requested, if ICICI Securities deems that the same is relevant.

ICICI Securities shall not be held responsible for the confidentiality, secrecy and security of the personal or account information being sent through the WhatsApp facility. The Customer agrees that the access to the WhatsApp facility shall be only through the Registered Customer Number and any transaction which originates from the same, whether initiated by the Customer or not, shall be deemed to have originated from the Customer.

Under no circumstance, ICICI Securities shall be held liable if the WhatsApp facility is not available for reasons including but not limited to natural calamities, epidemic/pandemic, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Securities. ICICI Securities shall not be liable under any circumstances for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the Customer or by any other person. Illegal or improper use of the WhatsApp facility shall render the customer liable for payment of financial charges as decided by ICICI Securities or will result in suspension of the WhatsApp facility for the Customer.

ICICI Securities is in no way liable for any error or omission in the services provided by any cellular or any third party service provider (whether appointed by ICICI Securities in that behalf or otherwise) to the Customer, which may affect the WhatsApp facility.

ICICI Securities, does not warrant the confidentiality or security of the messages whether personal or otherwise transmitted through the WhatsApp facility. ICICI Securities makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and howsoever suffered or incurred by the Customer or by any person resulting from or in connection with the WhatsApp facility.

Without limitation to the other provisions of these WhatsApp Terms and Conditions, ICICI Securities, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of ICICI Securities in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the Customer and the network of any cellular service provider and ICICI Securities's system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the Customer, ICICI Securities's system or the network of any cellular service provider and/or any third party who provides such services as is necessary to provide the WhatsApp.

Notwithstanding anything in the contrary provided in this terms and conditions, ICICI Securities shall not be involved in or in any way liable to the Customer for any dispute between the Customer and a cellular service provider or any third party service provider or WhatsApp (whether appointed by ICICI Securities for such purpose or otherwise) while availing these Services through the WhatsApp platform.

The Customer shall not interfere with or misuse in any manner whatsoever the WhatsApp facility and in the event of any damage due to improper or fraudulent use by the Customer, the Customer shall be liable for damages to ICICI Securities or for any losses suffered by ICICI Securities.

The Customer is solely responsible for protecting his/her OTP/debit card PIN/ password or mobile phone number and any other password and/or any other mode of verification as prescribed/ issued by ICICI Securities for the use of the WhatsApp facility from time to time without any liability of ICICI Securities in this regard. The Customer hereby agrees and accepts that he/she shall at all times be solely responsible for the protection and safe keep of his/her SIM card, Device and the applications installed thereon, specifically WhatsApp, login IDs, Customer Information, security details and passwords as mentioned hereinabove and hereby fully agrees that ICICI Securities shall in no manner be liable for any direct or indirect or consequential or other loss arising out of any action or omission because of compromise of the same in any manner whatsoever.

The Customer agrees that ICICI Securities assumes no liability whatsoever in case of any event of such compromise of the Customer's WhatsApp and ICICI Securities shall not be held responsible for any such event. Further, the Customer agrees and understands that WhatsApp can also be logged on from more than one device at the same time, including by using web log in and the Customer is aware of the risk in this regard while availing the Services such as compromise of Customer Information, breach of security of the Customer's WhatsApp account from a device other than the Customers and the Customer undertakes to be vigilant and careful and takes full responsibility for the security of his/her WhatsApp account. ICICI Securities shall not be responsible or liable to you or any third party for the consequences arising out of or in connection with using of this Service.

ICICI Securities will not be liable for:

any unauthorized use of the customer's password or mobile phone number or for any fraudulent, duplicate or erroneous instructions given on the WhatsApp channel;
acting in good faith on any instructions received by ICICI Securities from or on behalf of the Customer in relation to the WhatsApp facility;
error, default, delay or inability of ICICI Securities to act on all or any of the instructions given by the Customer due to any reason;
loss of any information/instructions in transmission;
unauthorized access by any other person to any information /instructions given by the Customer or breach of confidentiality;

ICICI Securities makes no representation or gives no warranty with respect to the quality of the service provided by any cellular service provider or by WhatsApp or any other service provider enabling ICICI Securities to deliver services through WhatsApp to the Customers.

ICICI Securities may provide any other services as a part of the WhatsApp facility and ICICI Securities shall not be liable for the oversight on part of the Customer to update himself /herself with the addition of services which have been included in the WhatsApp facility.

12. INDEMNITY

In consideration of ICICI Securities providing the WhatsApp facility, the Customer, at his own expense, agrees to indemnify, defend and hold harmless, ICICI Securities, its directors and employees, representatives, agents, customers and/or the affiliates, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that ICICI Securities may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the Customer or otherwise for use of the WhatsApp facility.

The Customer further specifically agrees to indemnify, defend and hold harmless, ICICI Securities and/or its affiliates from any losses occurring as a result of the:

the Customer permitting any third parties to use the WhatsApp facility.
the Customer permitting any other person to have access to his mobile phone or as a consequence of leaving the mobile phone unattended or loss of mobile phone and ICICI Securities acting/not acting on any instructions received from the same.
the Customer having breached the WhatsApp Terms and Conditions.

13. TERMINATION

ICICI Securities may, at its discretion, withdraw temporarily or terminate the WhatsApp facility, either wholly or in part, at any time without giving prior notice to the Customer. ICICI Securities may, without prior notice, suspend the WhatsApp facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the WhatsApp facility.

ICICI Securities may suspend or terminate WhatsApp facility without prior notice if the Customer has breached these WhatsApp Terms and Conditions or ICICI Securities learns of the death, bankruptcy.

14. PROPRIETARY RIGHTS

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Result PDF

Finance company Bajaj Finance announced Q2FY26 results

Consolidated Financial Highlights

Number of new loans booked in Q2FY26 was 12.17 million as against 9.69 million in Q2FY25, a growth of 26%.
Customer franchise stood at 110.64 million as of 30 September 2025, compared to 92.09 million as of 30 September 2024, a growth of 20%. Customer franchise grew by 4.13 million in Q2FY26.
Assets under management (AUM) grew by 24% to Rs 462,261 crore as of 30 September 2025 from Rs 373,924 crore as of 30 September 2024. AUM grew by Rs 20,811 crore in Q2FY26.
Net interest income increased by 22% in Q2FY26 to Rs 10,785 crore from Rs 8,838 crore in Q2FY25.
Net total income increased by 20% in Q2FY26 to Rs 13,170 crore from Rs 10,946 crore in Q2FY25.
Operating expenses to net total income for Q2FY26 was 32.6% as against 33.2% in Q2FY25
Pre-provisioning operating profit increased by 21% in Q2FY26 to Rs 8,874 crore from Rs 7,307 crore in Q2FY25.
Loan losses and provisions increased by 19% in Q2FY26 to Rs 2,269 crore from Rs 1,909 crore in Q2FY25.
Annualised loan losses and provisions to average assets under finance for Q2FY26 was 2.05%.
Profit before tax increased by 22% in Q2FY26 to Rs 6,608 crore from Rs 5,401 crore in Q2FY25.
Profit after tax increased by 23% in Q2FY26 to Rs 4,948 crore from Rs 4,014 crore in Q2FY25.
Gross NPA and Net NPA as of 30 September 2025 stood at 1.24% and 0.60% respectively, as against 1.06% and 0.46% as of 30 September 2024. The provisioning coverage ratio on stage 3 assets was 52%.
Capital adequacy ratio (CRAR) (including Tier-II capital) as of 30 September 2025 was 21.23%. The Tier-I capital was 20.54%.

Standalone Financial Highlights

Assets under management grew by 23% to Rs 338,121 crore as of 30 September 2025 from Rs 275,043 crore as of 30 September 2024.
Net interest income increased by 21% in Q2FY26 to Rs 9,725 crore from Rs 8,054 crore in Q2FY25.
Net total income increased by 20% in Q2FY26 to Rs 11,942 crore from Rs 9,947 crore in Q2FY25.
Operating expenses to net total income for Q2FY26 was 33.7% as against 34.2% in Q2FY25.
Pre-provisioning operating profit increased by 21% in Q2FY26 to Rs 7,921 crore from Rs 6,550 crore in Q2FY25.
Loan losses and provisions increased by 17% in Q2FY26 to Rs 2,218 crore from Rs 1903 crore in Q2FY25.
Profit before exceptional gain and tax increased by 23% in Q2FY26 to Rs 5,703 crore from Rs 4,647 crore in Q2FY25. In Q2FY25, the Company had an exceptional gain of Rs 2,544 crore on account of sale of equity shares of BHFL pursuant to IPO of BHFL.
Profit after tax excluding exceptional gain and tax thereon increased by 24% in Q2FY26 to Rs 4,251 crore from Rs 3,433 crore in Q2FY25. In Q2FY25, the Company had an exceptional gain (net of tax) of Rs 2,181 crore on account of sale of equity shares of BHFL pursuant to IPO of BHFL.
Gross NPA and Net NPA as of 30 September 2025 stood at 1.59% and 0.77% respectively, as against 1.33% and 0.58% as of 30 September 2024. The Company has provisioning coverage ratio of 52% on stage 3 assets.

Result PDF

Q1FY26 Quarterly Result Announced for Bajaj Finance

Finance company Bajaj Finance announced Q1FY26 results

Number of new loans booked in Q1FY26 was 13.49 million as against 10.97 million in Q1FY25, a growth of 23%.
Customer franch ise stood at 106.51 million as of 30 June 2025, compared to 88.11 million as of 30 June 2024, a growth of 21%. Customer franchise grew by 4.69 million in Q1FY26.
Assets under management (AUM) grew by 25% to Rs 441,450 crore as of 30 June 2025 from Rs 354,192 crore as of 30 June 2024. AUM grew by Rs 24,789 crore in Q1FY26.
Net interest income increased by 22% in Q1FY26 to Rs 10,227 crore from Rs 8,365 crore in Q1FY25.
Net total income increased by 21 % in Q1FY26 to Rs 12,610 crore from Rs 10,418 crore in Q1FY25.
Operating expenses to total net income for Q1FY26 was 32.7% as against 33.3% in Q1FY25.
Pre-provisioning operating profit increased by 22% in Q1FY26 to Rs 8,487 crore from Rs 6,947 crore in Q1FY25.
Loan losses and provisions increased by 26% in Q1FY26 to Rs 2,120 crore from Rs 1,685 crore in Q1FY25.
Annualised loan losses and provisions to average asset under finance for Q1FY26 was 2.02%.
Profit before tax increased by 21% in Q1FY26 to Rs 6,368 crore from Rs 5,265 crore in Q1FY25.
Profit after tax increased by 22% in Q1FY26 to Rs 4,765 crore from Rs 3,912 crore in Q1FY25.
Gross NPA and Net NPA as of 30 June 2025 stood at 1.03% and 0.50% respectively, as against 0.86% and 0.38% as of 30 June 2024. The provisioning coverage ratio on stage 3 assets was 52%.
Capital adequacy ratio (CRAR) (including Tier-II capital) as of 30 June 2025 was 21 .96%. The Tier-I capital was 21.19%

Result PDF

Q4FY25 & FY25 Result Announced for Bajaj Finance

Finance company Bajaj Finance announced Q4FY25 & FY25 results
Q4FY25 Financial Highlights:

Number of new loans booked in Q4FY25 was at 10.10 million as against 7.87 million in Q4FY24, a growth of 36%.

Customer franchise crossed a milestone of 100 million and stood at 101.82 million as of 31 March 2025, compared to 83.64 million as of 31 March 2024, a growth of 22%. Customer franchise grew by 4.70 million in Q4FY25.

Assets under management (AUM) grew by 26% to Rs 416,661 crore as of 31 March 2025 from Rs 330,615 crore as of 31 March 2024. AUM grew by Rs 18,618 crore in Q4FY25.

Net interest income increased by 22% in Q4FY25 to Rs 9,807 crore from Rs 8,013 crore in Q4FY24.

Net total income increased by 23% in Q4FY25 to Rs 11,917 crore from Rs 9,714 crore in Q4FY24.

Operating expenses to net total income for Q4FY25 was 33.1 % as against 34 0% in Q4FY24.

Pre-provisioning operating profit increased by 24% in Q4FY25 to Rs 7,967 crore from Rs 6,412 crore in Q4FY24.

Loan losses and provisions for Q4FY25 was Rs 2,329 crore as against Rs 1,310 crore in Q4FY24. In Q4FY25, the Company made an additional provision of Rs 359 crore on account of the redevelopment of its ECL model. Excluding this, loan losses and provisions for Q4FY25 amounted to Rs 1,970 crore.

Loan losses and provisions to average asset under finance for Q4FY25 was 2.33%. Excluding the additional ECL provision of Rs 359 crore on account of model redevelopment, it was 1.97%.

Profit before tax increased by 11 % in Q4FY25 to Rs 5,64 7 crore from Rs 5,105 crore in Q4FY24. Excluding the additional ECL provision of Rs 359 crore on account of model redevelopment, growth was 18%.

Profit after tax increased by 19% in Q4FY25 to Rs 4,546 crore from Rs 3,825 crore in Q4FY24.

Gross NPA and Net NPA as of 31 March 2025 stood at 0.96% and 0.44% respectively, as against 0.85% and 0.37% as of 31 March 2024. The provisioning coverage ratio on stage 3 assets was 54%.

Capital adequacy ratio (CRAR) (including Tier-II capital) as of 31 March 2025 was 21.93%. The Tier-I capital was 21.09%.

FY25 Financial Highlights:

Number of new loans booked grew by 20% in FY25 to 43.42 million as against 36.20 million in FY24.

Customer franchise stood at 101.82 million as of 31 March 2025 as compared to 83.64 mill ion as of 31 March 2024, a growth of 22%. Customer franch ise grew by 18.18 million in FY25.

Net interest income increased by 23% in FY25 to Rs 36,393 crore from Rs 29,582 crore in FY24.

Net total income increased by 24% in FY25 to Rs 44,954 crore from Rs 36,258 crore in FY24.

Operating expenses to net total income for FY25 was 33.2% as against 34.0% in FY24.

Pre-provisioning operating profit increased by 25% in FY25 to Rs 30,028 crore from Rs 23,933 crore in FY24.

Loan losses and provisions in FY25 was Rs 7,966 crore as against Rs 4,631 crore in FY24. Excluding the additional ECL provision of Rs 359 crore on account of model redevelopment, loan losses and provisions for FY25 was Rs 7,607 crore.

Profit before tax increased by 14% in FY25 to Rs 22,080 crore from Rs 19,310 crore in FY24. Excluding the additional ECL provision of Rs 359 crore on account of model redevelopment, growth was 16%.

Profit after tax increased by 16% in FY25 to Rs 16,779 crore from Rs 14,451 crore in FY24. Excluding the additional ECL provision on account of model redevelopment and reduction in income tax provision, profit after tax growth was 16%.

The Board of Directors has approved distribution of a special interim dividend of Rs 12 per equity share, from the exceptional gain resulting from the sale of investment in BHFL as part of IPO listing in September 2024.

The Board of Directors has recommended a final dividend of Rs 44 per equity share of face value of Rs 2 (2,200%) for FY25 (Previous year Rs 36 per equity share of face value of Rs 2 each i.e; 1,800%).

Result PDF

Q3FY25 Quarterly Result Announced for Bajaj Finance

Finance company Bajaj Finance announced Q3FY25 results

Number of new loans booked in Q3FY25 was highest ever at 12.06 million as against 9.86 million in Q3FY24, a growth of 22%.

Customer franchise stood at 97.12 million as of 31 December 2024 as compared to 80.41 million as of 31 December 2023, a growth of 21 %. In Q3FY25, the Company recorded highest ever quarterly increase in its customer franchise of 5.03 million.

Assets under management (AUM) grew by 28% to Rs 398,043 crore as of 31 December 2024 from Rs 310,968 crore as of 31 December 2023. AUM grew by Rs 24, 119 crore in Q3FY25.

Net inrerest income increased by 23% in Q3FY25 to Rs 8382 crore from Rs 7655 crore in Q3FY24.

Net total income increased by 26% in Q3FY25 to Rs 11,673 crore from Rs 9,298 crore in Q3FY24.

Operating expenses to net total income for Q3FY25 was 33.1 % as against 33.9% in Q3FY24.

Pre-provisioning operating profit increased by 27% in Q3FY25 to Rs 7,805 crore from Rs 6,142 crore in Q3FY24.

Loan losses and provisions for Q3FY25 was Rs 2,043 crore as against Rs 1,248 crore in Q3FY24.

Loan losses and provisions to average asset under finance for Q3FY25 was 2.16%.

Profit before tax increased by 18% in Q3FY25 to Rs 5,765 crore from Rs 4,896 crore in Q3FY24.

Profit after tax increased by 18% in Q3FY25 to Rs 4,308 crore from Rs 3,639 crore in Q3FY24.

Gross NPA and Net NPA as of 31 December 2024 stood at 1.12% and 0.48% respectively, as against 0.95% and 0.37% as of 31 December 2023. The provisioning coverage ratio on stage 3 assets was 57%.

Capital adequacy ratio (CRAR) (including Tier-II capital) as of 31 December 2024 was 21.57%. The Tier-I capital was 20.79%.

Result PDF

Q2FY25 Quarterly Result Announced for Bajaj Finance

Finance company Bajaj Finance announced Q2FY25 results
Standalone Financial Highlights:

Assets under management grew 28% to Rs 2,75,043 crore as of Q2FY25 from Rs 2,14,891 crore as of Q2FY24.

Net interest income increased by 23% in Q2FY25 to Rs 8,054 crore from Rs 6,532 crore in Q2FY24.

Net total income increased by 23% in Q2FY25 to Rs 9,947 crore from Rs 8,060 crore in Q2FY24.

Operating expenses to net total income for Q2FY25 was 34.2% as against 34.9% in Q2FY24.

Pre-provisioning operating profit increased by 25% in Q2FY25 to Rs 6,550 crore from Rs 5,250 crore in Q2FY24.

Loan losses and provisions for Q2FY25 was Rs 1,903 crore as against Rs 1,059 crore in Q2FY24.

Profit before exceptional gain and tax increased by 11% in Q2FY25 to Rs 4,647 crore from Rs 4,191 crore in Q2FY24.

Profit before tax increased by 72% in Q2FY25 to Rs 7,191 crore from Rs 4,191 crore in Q2FY24. During the quarter, the Company recognised an exceptional gain of Rs 2,544 crore on account of sale of equity shares of BHFL pursuant to IPO of BHFL.

Profit after tax increased by 81% in Q2FY25 to Rs 5,614 crore from Rs 3,106 crore in Q2FY24. Excluding exceptional gain, profit after tax grew by 11%.

Gross NPA and Net NPA as of 30 September 2024 stood at 1.33% and 0.58% respectively, as against 1.14% and 0.39% as of 30 September 2023. The Company has provisioning coverage ratio of 57% on stage 3 assets.

Consolidated Financial Highlights:

Number of new loans booked grew by 14% in Q2FY25 to 9.69 million as against 8.53 million in Q2FY24.

Customer franchise stood at 92.09 million as of 30 September 2024 as compared to 76.56 million as of 30 September 2023, a growth of 20%. The customer franchise grew by 3.98 million in Q2FY25.

Assets under management (AUM) grew by 29% to &Rs 373,924 crore as of 30 September 2024 from Rs 2,90,264 crore as Q2FY24. AUM grew by Rs 19,732 crore in Q2FY25.

Net interest income increased by 23% in Q2FY25 to Rs 8,838 crore from Rs 7,196 crore in Q2FY24.

Net total income increased by 24% in Q2FY25 to Rs 10,946 crore from Rs 8,847 crore in Q2FY24.

Operating expenses to net total income for Q2FY25 was 33.2% as against 34.0% in Q2FY24.

Pre-provisioning operating profit increased by 25% in Q2FY25 to Rs 7,307 crore from Rs 5,835 crore in Q2FY24.

Loan losses and provisions for Q2FY25 was Rs 1,909 crore as against Rs 1,077 crore in Q2FY24.

Profit before tax increased by 14% in Q2FY25 to Rs 5,401 crore from Rs 4,758 crore in Q2FY24.

Profit after tax increased by 13% in Q2FY25 to Rs 4,014 crore from Rs 3,551 crore in Q2FY24.

Gross NPA and Net NPA as of 30 September 2024 stood at 1.06% and 0.46% respectively, as against 0.91% and 0.31% as of 30 September 2023. The provisioning coverage ratio on stage 3 assets was 57%.

Capital adequacy ratio (CRAR) (including Tier-ll capital) as of 30 September 2024 was 21.69%. The Tier-I capital was 20.90%.

The Company's subsidiary, namely BHFL, has successfully concluded its Initial Public Offer (IPO) of Rs 6,560 crore. This included issuance of new equity shares amounting to Rs 3,560 crore and an offer for sale by BFL amounting to Rs 3,000 crore. BHFL equity shares were listed on stock exchanges on 16 September 2024.Consequently, BFL's shareholding in BHFL reduced from 100% to 88.75%.

The Company enjoys the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1 for short-term debt programme from CRISIL, ICRA, CARE and India Ratings and AAA (Stable) for its fixed deposits programme from CRISIL and ICRA.

The Company has been assigned long-term issuer rating of BBB-/Stable and short-term issuer rating of A-3 by S&P Global ratings.

On 17 October 2024, Moody's rating has assigned a first-time Baa3/P-3 long-term and short term foreign and local currency issuer ratings with stable outlook to the Company.

Result PDF

Q1FY25 Quarterly Result Announced for Bajaj Finance

Bajaj Finance announced Q1FY25 results:

Number of new loans booked grew by 10% in Q1FY25 to 10.97 million as against 9.94 million in Q1FY24. The Company resumed sanction and disbursal of loans under 'eCOM' and 'lnsta EMI Card' and issuance of EMI cards after the RBI removed the restrictions on these businesses on 2nd May 2024.
Customer franchise stood at 88.11 million as of 30 June 2024 as cornpared to 72.98 million as of 30 June 2023, a growth of 21%. The Company's customer franchise grew by 4.47 million in Q1FY25.
Assets under management (AUM) grew by 31 % to Rs 3,54,192 crore as of 30 June 2024 from Rs 2,70,097 crore as of 30 June 2023. AUM grew by Rs 23,577 crore in Q1FY25.
Net interest income increased by 25% in Q1FY25 to ~ Rs 8,365 crore from Rs 6,717 crore in Q1FY24.
Net total income increased by 24% in Q1FY25 to Rs 10,418 crore from Rs 8,397 crore in Q1FY24.
Operating expenses to net total income for Q1FY25 was 33.3% as against 34.0% in Q1FY24.
Pre-provisioning operating profit increased by 25% in Q1FY25 to Rs 6,947 crore from Rs 5,543 crore in Q1FY24.
Loan losses and provisions for Q1FY25 as Rs 1,685 crore as again Rs 995 crore in Q1FY24.
Profit before tax increased by 16% in Q1FY25 to Rs 5,265 crore from Rs 4,551 crore in Q1FY24.
Profit after tax increased by 14% in Q1FY25 to Rs 3,912 crore from Rs 3,437 crore in Q1FY24 due to one time reversal of deferred tax liability of Rs 73 crore in Q1FY24.
Gross NPA and Net NPA as of 30 June 2024 stood at 0.86% and 0.38% respectively, as against 0:87% and 0.31 % as of 30 June 2023. The Company has provisioning coverage ratio of 56% on stage 3 assets.
Capital adequacy ratio (CRAR) (including Tier-II capital) as of 30 June 2024 was 21 .65%. The Tier-I capital was 20.73%.
The Company enjoys the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1 for short-term debt programme from CRISIL, ICRA and India Ratings and AAA (Stable) for its fixed deposits programme from CRISIL and ICRA.
The Company has been assigned long-term issuer rating of BBB-/Stable and short-term issuer rating of A-3 by S&P Global ratings.

Result PDF

Q4FY24 & FY24 Quarterly Result Announced for Bajaj Finance

Bajaj Finance announced Q4FY24 & FY24 results:

Standalone Q4FY24 Financial Highlights

Assets under management grew by 35% to Rs 2,44,826 crore as of 31 March 2024 from Rs 1,80,999 crore as of 31 March 2023.
Net interest income increased by 29% in Q4FY24 to ~7,340 crore from Rs 5,669 crore in Q4FY23.
Net total income increased by 25% in Q4FY24 to Rs 8,904 crore from Rs 7,105 crore in Q4FY23.
Pre-provisioning operating profit increased by 26% in Q4FY24 to Rs 5,844 crore from Rs 4,633 crore in Q4FY23.
Loan losses and provisions for Q4FY24 was Rs 1,278 crore as against Rs 803 crore in Q4FY23. The Company holds a management and macro-economic overlay of Rs 206 crore as of 31 March 2024.
Profit before tax increased by 19% in Q4FY24 to Rs 4,566 crore from Rs 3,830 crore in Q4FY23.
Profit after tax increased by 20% in Q4FY24 to Rs 3,402 crore from Rs 2,837 crore in Q4FY23.

Standalone FY24 Financial Highlights

Net interest income increased by 29% in FY24 to Rs 26,940 crore from Rs 20,857 crore in FY23.
Net total income increased by 25% in FY24 to Rs 33,103 crore from Rs 26,405 crore in FY23.
Pre-provisioning operating profit increased by 28% in FY24 to Rs 21,625 crore from Rs 16,948 crore in FY23.
Loan losses and provisions for FY24 was Rs 4,572 crore as against Rs 3,066 crore in FY23. The Company holds a management and macro-economic overlay of Rs 206 crore as of 31 March 2024.
Profit before tax increased by 23% in FY24 to Rs 17,053 crore from Rs 13,882 crore in FY23.
Profit after tax increased by 23% in FY24 to Rs 12,644 crore from Rs 10,290 crore in FY23.

Consolidated Q4FY24 Financial Highlights

Number of new loans booked grew by 4% in Q4FY24 to 7.87 million as against 7.56 million in Q4FY23.The new loans booked during the quarter were lower by approximately 0.80 million.
Customer franchise stood at 83.64 million as of 31 March 2024 as compared to 69.14 million as of 31 March 2023, a growth of 21%. The Company's customer franchise grew by 3.23 million in Q4FY24.
Assets under management (AUM) grew by 34% to Rs 3,30,615 crore as of 31 March 2024 from Rs 2,47,379 crore as of 31 March 2023. AUM grew by Rs 19,647 crore in Q4FY24.
Net interest income increased by 28% in Q4FY24 to Rs 8,013 crore from Rs 6,254 crore in Q4FY23.
Net total income increased by 25% in Q4FY24 to Rs 9,714 crore from Rs 7,775 crore in Q4FY23.
Pre-provisioning operating profit increased by 25% in Q4FY24 to Rs 6,412 crore from Rs 5,118 crore in Q4FY23.
Loan losses and provisions for Q4FY24 was Rs 1,310 crore as against Rs 859 crore in Q4FY23. The
Company holds a management and macro-economic overlay of Rs 300 crore as of 31 March 2024.
Profit before tax increased by 20% in Q4FY24 to Rs 5,105 crore from Rs 4,261 crore in Q4FY23. The profit before tax for the quarter was impacted by approximately 4%.
Profit after tax increased by 21% in Q4FY24 to Rs 3,825 crore from Rs 3,158 crore in Q4FY23.
Gross NPA and Net NPA as of 31 March 2024 stood at 0.85% and 0.37% respectively, as against 0.94% and 0.34% as of 31 March 2023. The Company has provisioning coverage ratio of 57% on stage 3 assets.
Capital adequacy ratio (CRAR) (including Tier-II capital) as of 31 March 2024 was 22.52%. The Tier-I capital was 21.51%.
The Company has made required changes in response to the regulatory restriction imposed by RBI on the Company, on sanction and disbursal of loans under 'eCOM' and 'lnsta EMI Card'.
The Company enjoys the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1 for short-term debt programme from CRISIL, ICRA and India Ratings and AAA (Stable) for its fixed deposits programme from CRISIL and ICRA.
The Company has been assigned long-term issuer rating of BBB-/Stable and short-term issuer rating of A-3 by S&P Global ratings.
During the quarter, the Company availed loans amounting to USD 725 million (equivalent to Rs 6,016 crore) from various banks under its external commercial borrowing (ECB) programme.

Consolidated FY24 Financial Highlights

Number of new loans booked grew by 22% in FY24 to 36.20 million as against 29.58 million in FY23.
Customer franchise stood at 83.64 million as of 31 March 2024 as compared to 69.14 million as of 31 March 2023, a growth of 21%. The Company's customer franchise grew by 14.5 million in FY24.
Net interest income increased by 29% in FY24 to Rs 29,582 crore from Rs 22,989 crore in FY23.
Net total income increased by 26% in FY24 to Rs 36,258 crore from Rs 28,858 crore in FY23.
Operating expenses to net total income for FY24 was 34.0% as against 35.1% in FY23.
Pre-provisioning operating profit increased by 28% in FY24 to Rs 23,933 crore from Rs 18,716 crore in FY23.
Loan losses and provisions in FY24 was Rs 4,631 crore as against Rs 3,190 crore in FY23. The Company holds a management and macro-economic overlay of Rs 300 crore as of 31 March 2024.
Profit after tax increased by 26% in FY24 to Rs 14,451 crore from Rs 11,508 crore in FY23.

Result PDF

Q3FY24 Quarterly Result Announced for Bajaj Finance

Non-banking Financial company Bajaj Finance announced Q3FY24 results:

New Loans Booked:
- The number of new loans booked experienced a robust growth of 26% in Q3FY24, reaching 9.86 million, compared to 7.84 million in Q3FY23.
Customer Franchise:
- The customer franchise expanded significantly, reaching 80.41 million as of December 31, 2023, compared to 66.05 million as of December 31, 2022, reflecting a remarkable 22% growth.
- A record-breaking quarterly increase of 3.85 million was recorded in Q3FY24.
Assets Under Management (AUM):
- AUM witnessed a substantial growth of 35%, totaling Rs 310,968 crore as of December 31, 2023, compared to Rs 230,842 crore as of December 31, 2022.
- Q3FY24 alone contributed to a growth of Rs 20,704 crore in AUM.
Net Interest Income:
- Net interest income exhibited a robust growth of 29% in Q3FY24, reaching Rs 7,655 crore, compared to Rs 5,922 crore in Q3FY23.
Net Total Income:
- Q3FY24 saw a significant increase of 25% in net total income, totaling Rs 9,298 crore, compared to Rs 7,438 crore in Q3FY23.
Operating Efficiency:
- Operating expenses to net total income for Q3FY24 improved to 33.9%, compared to 34.8% in Q3FY23, indicating efficient cost management.
Pre-Provisioning Operating Profit:
- Pre-provisioning operating profit recorded a robust growth of 27% in Q3FY24, reaching Rs 6,142 crore from Rs 4,853 crore in Q3FY23.
Loan Losses and Provisions:
- Loan losses and provisions in Q3FY24 amounted to Rs 1,248 crore, compared to Rs 841 crore in Q3FY23. The company holds a management and macro-economic overlay of Rs 590 crore as of December 31, 2023.
Profit Before Tax:
- Profit before tax increased by 22% in Q3FY24, totaling Rs 4,896 crore from Rs 4,012 crore in Q3FY23. However, profit growth was impacted by approximately 5-6% due to elevated loan losses and the impact of Regulatory action.
Profit After Tax:
- Profit after tax increased by 22% in Q3FY24, reaching Rs 3,639 crore from Rs 2,973 crore in Q3FY23.
Asset Quality:
- Gross NPA and Net NPA as of December 31, 2023, stood at 0.95% and 0.37%, respectively, showing an improvement from December 31, 2022.
- The company maintains a provisioning coverage ratio of 62% on stage 3 assets as of December 31, 2023.
Capital Adequacy Ratio (CAR):
- The capital adequacy ratio (CAR) as of December 31, 2023, was 23.87%, with Tier-I capital at 22.80%. Adjusted for the RBI's risk weight change, CAR would have been 26.77%.
Credit Ratings:
- The company holds the highest credit rating of AAA/Stable for its long-term debt program from CRISIL, ICRA, CARE, and India Ratings.
- Short-term debt program holds an A1 rating from CRISIL, ICRA, and India Ratings.
- The fixed deposits program is rated AAA (Stable) by CRISIL and ICRA.

Result PDF

Q2FY24 Quarterly Result Announced for Bajaj Finance

Non-banking Financial company Bajaj Finance announced Q2FY24 results:

Consolidated Q2FY24:
- The number of new loans booked during Q2FY24 grew by 26% to 8.53 million as against 6.76 million in Q2FY23.
- Customer franchise stood at 76.56 million as of September 30, 2023, as compared to 62.91 million as of September 30, 2022, a growth of 22%. The Company's customer franchise grew by 3.58 million in Q2FY24.
- Assets under management (AUM) grew by 33% to Rs 2,90,264 crore as of September 30, 2023, from Rs 2,18,366 crore as of September 30, 2022. AUM in Q2FY24 grew by Rs 20,167 crore. ~ Net interest income for Q2FY24 increased by 26% to Rs 8,845 crore from Rs 7,002 crore in Q2FY23.
- Operating expenses to net interest income for Q2FY24 was 34.0% as against 35.9% in Q2FY23.
- Loan losses and provisions for Q2FY24 were Rs 1,077 crore as against Rs 734 crore in Q2FY23. The Company holds a management and macro-economic overlay of Rs 740 crore as of September 30, 2023.
- Profit before tax for Q2FY24 increased by 27% to Rs 4,758 crore from Rs 3,752 crore in Q2FY23.
- Profit after tax for Q2FY24 increased by 28% to Rs 3,551 crore from Rs 2,781 crore in Q2FY23.
- Gross NPA and Net NPA as of September 30, 2023, stood at 0.91% and 0.31% respectively, as against 1.17% and 0.44% as of September 30, 2022. The Company has a provisioning coverage ratio of 66% on stage 3 assets as of September 30, 2023.
- Capital adequacy ratio (including Tier-II capital) as of September 30, 2023 was 23.19%. The Tier-I capital was 21.88%.
- The Company enjoys the highest credit rating of AAA/Stable for its long-term debt program from CRISIL, ICRA, CARE, and India Ratings, A1 for short-term debt program from CRISIL, ICRA, and India Ratings, and AAA (Stable) for its fixed deposits program from CRISIL and ICRA.
- The Company has been assigned a long-term issuer rating of BBB-/Stable and a short-term issuer rating of A-3 by S&P Global ratings.
Standalone Q2FY24:
- Assets under management grew by 35% to Rs 2,14,891 crore as of September 30, 2023, from Rs 1,59,452 crore as of September 30, 2022.
- Net interest income for Q2FY24 increased by 26% to Rs 8,059 crore from Rs 6,397 crore in Q2FY23.
- Loan losses and provisions for Q2FY24 were Rs 1,059 crore as against Rs 705 crore in Q2FY23. The Company holds a management and macro-economic overlay of Rs 564 crore as of September 30, 2023.
- Profit after tax for Q2FY24 increased by 26% to Rs 3,106 crore from Rs 2,472 crore in Q2FY23.

Result PDF

Q1FY24 Quarterly Result Announced for Bajaj Finance

Non-banking financial company Bajaj Finance announced Q1FY24 results:

Number of new loans booked during Q1FY24 grew by 34% to 9.94 million as against 7.42 million in Q1FY23, the highest ever new loans in a quarter.
Customer franchise stood at 72.98 million as of 30 June 2023 as compared to 60.30 million as of 30 June 2022, a growth of 21%. The company recorded the highest-ever quarterly increase in its customer franchise of 3.84 million in Q1FY24.
Assets under management (AUM) grew by 32% to Rs 2,70,097 crore as of 30 June 2023 from Rs 2,04,018 crore as of 30 June 2022. The company recorded the highest-ever quarterly increase in its AUM of Rs 22,718 crore in Q1FY24. AUM mix remained stable in Q1FY24.
Net interest income for Q1FY24 increased by 26% to Rs 8,398 crore from Rs 6,640 crore in Q1FY23.
Operating expenses to net interest income for Q1FY24 was 34.0% as against 35.9% in Q1FY23.
Loan losses and provisions for Q1FY24 were Rs 995 crore as against Rs 755 crore in Q1FY23. The Company holds a management and macro-economic overlay of Rs 840 crore as of 30 June 2023.
Profit before tax for Q1FY24 increased by 30% to Rs 4,551 crore from Rs 3,503 crore in Q1FY23.
Profit after tax for Q1FY24 increased by 32% to Rs 3,437 crore from Rs 2,596 crore in Q1FY23. Adjusted for the reversal of deferred tax liability of Rs 73 crore, profit after tax for Q1FY24 grew by 30%.
Gross NPA and Net NPA as of 30 June 2023 stood at 0.87% and 0.31% respectively, as against 1.25% and 0.51% as of June 30, 2022. The Company has a provisioning coverage ratio of 65% on stage 3 assets as of 30 June 2023.
Capital adequacy ratio (including Tier-Il capital) as of 30 June 2023 was 24.61%. The Tier-I capital was 23.01%.
The Company enjoys the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1 for its short-term debt programme from CRISIL, ICRA and India Ratings and AAA (Stable) for its fixed deposits programme from CRISIL and ICRA.
The Company has been assigned a long-term issuer rating of BBB-/Stable and a short-term issuer rating of A-3 by S&P Global ratings for the external commercial borrowings (ECB) programme.

Result PDF

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