- RBI will soon update the upper layer list of non-banking finance companies (NBFCs)
- The list will mostly remain unchanged with possible additions of government-backed NBFCs
- Tata Sons' de-registration plea is pending, and it is likely to stay on the list
The Reserve Bank of India (RBI) is likely to update its upper layer list of non-banking finance companies (NBFCs) soon and the list will largely remain unchanged, with possible additions of government-backed NBFCs in the same, sources told NDTV Profit.
The central bank is yet to take a final call on the de-registration plea filed by Tata Sons and the NBFC is expected to remain in the list, they say.
Earlier this year, the RBI issued new classification norms for NBFCs, specifying that NBFCs with over Rs 1 lakh crore loan book will be added to upper layer list of NBFCs. The regulator also approved government run large NBFCs being a part of the upper layer list.
Once an NBFC is in the upper layer list, it is bound to be listed on stock exchanges within three years, as per RBI guidelines.
Tata Sons had applied for cancellation of its license as upper layer NBFC-CIC in March 2024 to avoid listing of the company. The RBI had added Tata Sons in upper layer NBFC list in September 2022, and the company was expected to get listed by September 2025, as per regulatory guidelines.
RBI Governor Sanjay Malhotra had earlier this month said the updated upper layer NBFC list will be announced “shortly”. Currently, there are 15 NBFCs in the RBI's upper layer NBFCs' list.
ALSO READ | RBI Proposes Rs 1 Lakh Crore Asset Threshold For Upper Layer NBFC Classification
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