The Reserve Bank of India Governor Sanjay Malhotra said that they would release a new framework for the categorisation of the non-bank financial companies (NBFCs), he said in the post policy press conference on Wednesday. The announcement comes at a time when there is an uncertainty over Tata Sons’ mandatory listing. Malhotra did not provide any more details on the matter, which has been tracked because the central bank is likely to decide if Tata Sons continues to be privately held or is forced to list.
“We are coming up with a new framework for the categorisation of NBFCs into upper, middle layer. Hopefully it should be out by this month,” he said.
For the year 2024-25, 15 NBFCs were part of the upper layer NBFCs list. These include Bajaj Finance, Shriram Finance, L&T Finance, HDB Financial Services, Tata Sons, among others. The RBI had classified Tata Sons as an upper layer NBFC in September 2022 and according to the guidelines for upper layer NBFCs, it should have been listed by September 30, 2025, unless it received an exemption or it got deregistered.
However, RBI had mentioned that “the inclusion of Tata Sons in the list of NBFC-upper layer is without prejudice to the outcome of its application for de-registration, which is under examination.”