However, Tata Sons — which has submitted the application for deregistration– continues to be an upper layer NBFC
The central bank has said that the deregistration application of Tata Sons is still under consideration.
“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 central bank said.
The central bank also said that PNB Housing Finance Limited and Sammaan Capital Limited do not meet the criteria in the current exercise.
“Further, in terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirements, at least for a period of five years from its classification in the layer, even in case it does not meet the criteria in the subsequent year/s. Accordingly, these NBFCs which were identified as NBFC-UL in previous exercises but do not meet the criteria in the current exercise would continue in NBFC-UL and be subject to the enhanced regulatory requirements of NBFC-UL,” the central bank added.
The four new entrants into the list include REC Limited, Power Finance Corporation Limited, Indian Railway Finance Corporation Limited, and Housing and Urban Development Corporation Limited (HUDCO) — all government run NBFCs.
First Published: Aug 6, 2026 4:34 PM IST
