Overview
- An RBI draft rule would tag non-bank lenders with assets of ₹1 lakh crore or more as upper-layer NBFCs, replacing the current scoring method.
- The draft also brings eligible government-owned NBFCs into the top tier to create an ownership-neutral regime.
- Regulators say concentration is high, with 15 upper-layer NBFCs holding about 30.2% of sector assets as of March 2025.
- Governor Sanjay Malhotra signaled earlier this week that the revised NBFC categorisation is due this month, with firms grouped into upper, middle and other layers.
- Tata Sons stays on the upper-layer list after missing a September 30, 2025 listing deadline, and its de-registration request remains under RBI examination.