Резервный банк Индии уточнил правила отмены лицензии у Tata Sons

Mumbai: The Reserve Bank of India (RBI) has issued an important clarification on rules governing Non-Banking Financial Companies (NBFCs). It said that simply submitting documents to surrender an NBFC licence does not automatically cancel the Certificate of Registration (CoR). The RBI stated that only the central bank has the authority to approve or reject a licence surrender. Until then, the existing licence and all related regulations will continue to apply. Why Tata Sons Is Back in Focus The clarification has once again brought Tata Sons into the spotlight. In 2024, Tata Sons applied to surrender its NBFC–Core Investment Company (CIC) licence. The move was seen as an attempt to come out of the regulatory framework that requires large upper-layer NBFCs to be listed on the stock exchanges. However, under the RBI's latest clarification, the company will continue to be treated as an upper-layer NBFC until its licence surrender request is officially approved. This means the future of Tata Sons' possible stock market listing now depends on the RBI's final decision. RBI Explains Indirect Access to Public Funds The RBI has also explained what it means by "indirect access to public funds." This refers to funds that reach a company through its subsidiaries or other group companies rather than through direct borrowing. The clarification is important for Tata Sons because it had repaid all its direct borrowings in 2024. However, the RBI believes the company still has indirect access to public funds through listed Tata Group companies such as Tata Motors and Tata Steel. Upper-Layer NBFC Rules Continue The RBI first released the list of upper-layer NBFCs in 2022. These companies were directed to comply with stricter regulations, including mandatory stock market listing within three years. The central bank has now repeated that NBFCs with assets of ₹1 lakh crore or more will continue to remain in the upper-layer category. What Happens Next? Experts believe the next step now rests entirely with the RBI. If the central bank approves Tata Sons' application to surrender its NBFC licence, the company may no longer have to follow the upper-layer NBFC listing rules. However, if the application is rejected or remains pending, Tata Sons will continue to remain under the upper-layer NBFC framework, including the provisions related to mandatory listing. For now, investors and the market are closely watching the RBI's next move, which could determine the future course of Tata Sons.