Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
Payouts to key management personnel in non-banking financial companies (NBFCs) are under the banking regulator's scrutiny. Top industry officials said this is a follow-through on the Reserve Bank of India's (RBI's) circular of April 29, 2022, which asked NBFCs in the "middle" and "upper" layer of its four-tiered scale-based regulatory (SBR) framework to put in place a board-approved compensation policy.
Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
Hyundai got two stars for Grand i10 Nios and Kia got three stars for Seltos.
Industry seeks cut in customs duty on natural rubber.
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances