RBI Updates NBFC Upper-Layer List; REC and PFC Among New Entrants

The Reserve Bank of India (RBI) released its updated list of Non-Banking Financial Companies (NBFCs) in the 'Upper Layer' for the 2026-27 fiscal year.

REC, PFC, IRFC, and HUDCO are the four new entities added to the list, which subjects them to stricter regulatory oversight and capital requirements.

Tata Sons remains on the list despite a pending deregistration plea, as the RBI continues to evaluate its classification based on the Rs 1 lakh crore asset threshold.