Tuesday, February 11, 2025

Tata Sons request to deregister as NBFC under RBI review, stays on upper-layer list

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Tata Sons, the holding company of Tata Group, continues to be on the Reserve Bank of India’s (RBI) upper-layer non-banking finance companies (NBFC) list, even as the regulator examines the company’s proposal to deregister itself as a core investment category NBFC.

“Inclusion of Tata Sons Private Limited in the list of NBFC-UL is without prejudice to the outcome of its application for de-registration, which is under examination,” the RBI said in a release.

Tata Sons is keen on deregistering itself as an NBFC because the RBI mandates that upper-layer NBFCs be listed on exchanges by September 2025. However, Shapoorji Paloonji Group, which has a nearly 18.5 per cent stake in the company, is reportedly seeking its listing.

15 NBFCs named in upper layer list

On the other hand, despite qualifying for identification as an upper-layer NBFC, Piramal Enterprises is not included in the current review due to ongoing reorganisation in the business group.

Once an NBFC is classified under the upper layer category, it is subject to enhanced regulatory requirements at least for five years from its classification in the layer, even if it does not meet the parametric criteria in the subsequent years.

Other NBFCs in the upper layer list include LIC Housing Finance, Bajaj Finance, Shriram Finance, Cholamandalam Investment and Finance, L&T Finance, M&M Finance, Aditya Birla Finance, Tata Capital, Piramal Capital, PNB Housing Finance, HDB Financial Services, Sammaan Capital (formerly known as Indiabulls Housing), Muthoot Finance and Bajaj Housing Finance.







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