Topic
upper layer
Finance Banking #nbfc#rbi
RBI retains Tata Sons in upper-layer NBFC list, adds four PSU financiers
The RBI's revised FY27 upper-layer NBFC list adds four public sector infrastructure financiers — REC, PFC, IRFC and HUDCO — while retaining Tata Sons without prejudice to its de-registration application. The total number of entities subject to NBFC-UL regulations has increased to 19 from 15.
Aug 7, 2026 1 source
Finance Banking #tata sons#rbi
Tata Sons Continues in RBI Upper Layer NBFC List, Governor Indicates
RBI Governor Sanjay Malhotra indicated that Tata Sons continues to be classified as an upper layer NBFC under the central bank's revised principle-based criteria, with the updated list expected soon. The classification triggers compulsory listing norms, which Tata Sons has sought to avoid by de-registering, while the Shapoorji Pallonji group, its largest shareholder, has pushed for a listing.
Aug 6, 2026 1 source