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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.
This move marks the Bajaj Group's return to the public market after many years. The Board will meet on April 24 to address listing requirements.
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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