The RBI circular dated October 22, 2021, directed that NBFC-UL should be mandatorily listed within 3 years of identification as NBFC-UL. The central bank classified Tata Sons as an “upper layer” NBFC in 2022.
On September 30, 2022, the RBI released a list of 16 NBFCs categorised as upper layer under the regulator s scale-based rules for non-bank lenders. These entities are required to be listed within three years of identification
The Reserve Bank of India has released a list of fifteen NBFCs that fall under the "upper layer" in the scale-based regulation for the financial year 2024. LIC Housing Finance Limited, Bajaj Finance Limited, and Shriram Finance Limited are among the top-ranking companies on the list.
Get latest articles and stories on Latest News at LatestLY. The Reserve Bank on Friday categorised 16 big non-banking financial companies, including LIC Housing Finance and Bajaj Finance, as upper-layer NBFCs that will be subject to an enhanced regulatory framework. Latest News | RBI Categorises 16 Large Financial Entities as Upper-layer NBFCs.