Tata Sons exploring ways to get out of upper layer NBFC list: Report

Tata Sons, the parent company of the Tata group, is looking for a way to get exemption from an RBI notification that included it among the top 10 NBFCs in terms of asset size, The Economic Times reported Friday.
 

Citing people aware of the matter, the report said the Reserve Bank of India has also included Tata Sons among 16 NBFCs in the upper layer (UL).
 

Since the collapse of IL&FS in 2018, the RBI has been gradually tightening the regulatory framework for NBFCs. NBFC-ULs will be subject to a more stringent disciplinary structure and have to be more transparent