RBI NBFC Upper Layer List 2026-27: Tata Sons Among 17
Why in the news
RBI issued its yearly Upper Layer NBFC roster for 2026-27, with Tata Sons on it.
Key facts
- Count: 17 NBFCs in the Upper Layer (NBFC-UL).
- Minimum stay: five years, even if the firm later drops below the benchmarks.
- Tata Sons: status does not prejudice its de-registration application.
Scale Based Regulation layers
| Layer | Who sits here |
|---|---|
| Base (NBFC-BL) | Small non-deposit-takers below the asset threshold |
| Middle (NBFC-ML) | Deposit-takers, HFCs, IFCs, IDFs, SPDs, larger non-deposit-takers |
| Upper (NBFC-UL) | Picked by RBI every year as needing tougher rules |
| Top (NBFC-TL) | Usually empty; used only if RBI sees systemic risk jump |
About Scale Based Regulation
- Regulatory intensity scales with size, complexity and risk.
- Extra duties: CET1 ratio, large exposure caps, differential provisioning, separate compliance function, internal capital adequacy assessment.
Exam angle
- Four layers; Top Layer usually empty.
- UL: five years minimum, listing in three.
- UL list is annual.