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<link:schemaRef xlink:type="simple" xlink:href="Ind-AS_entry_point_2020-03-31.xsd"/>
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<xbrli:context id="FourReportableSegmentRevenue03D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsAxis">in-bse-fin:FourReportableSegmentRevenue03Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentRevenue04D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsAxis">in-bse-fin:FourReportableSegmentRevenue04Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentRevenue05D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsAxis">in-bse-fin:FourReportableSegmentRevenue05Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentRevenue06D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsAxis">in-bse-fin:FourReportableSegmentRevenue06Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentRevenue07D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsAxis">in-bse-fin:FourReportableSegmentRevenue07Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults01D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults01Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults02D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults02Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults03D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults03Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults04D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults04Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults05D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults05Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults06D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults06Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentResults07D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:OneReportableSegmentResults07Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults01D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults01Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults02D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults02Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults03D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults03Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults04D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults04Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults05D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults05Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults06D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults06Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="FourReportableSegmentResults07D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentsFinanceCostsAxis">in-bse-fin:FourReportableSegmentResults07Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentAssets01D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentAssetsAxis">in-bse-fin:OneReportableSegmentAssets01Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentAssets02D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentAssetsAxis">in-bse-fin:OneReportableSegmentAssets02Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentAssets03D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentAssetsAxis">in-bse-fin:OneReportableSegmentAssets03Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentAssets04D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentAssetsAxis">in-bse-fin:OneReportableSegmentAssets04Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentAssets05D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentAssetsAxis">in-bse-fin:OneReportableSegmentAssets05Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneReportableSegmentAssets06D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">MOTILALOFS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-10-01</xbrli:startDate><xbrli:endDate>2021-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:ReportableSegmentAssetsAxis">in-bse-fin:OneReportableSegmentAssets06Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
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<in-bse-fin:DescriptionOfReportableSegment contextRef="FourReportableSegmentResults01D">Asset &amp; Wealth Management</in-bse-fin:DescriptionOfReportableSegment>
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