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Story summary
- RBI rejected Tata Sons' request to surrender its non-bank lender registration.
- RBI sent the rejection in a letter dated Sept. 11 to Tata Sons.
- Tata Sons remains subject to upper-layer NBFC rules, including a mandatory stock-exchange listing.
- The firm applied in March 2024 after prepaying Rs 21,813 crore debt and becoming cash-positive in FY24.
- RBI kept Tata Sons on the August 2026 list of 17 upper-layer NBFCs, without prejudice to its application.
