Tata Sons listing question hinges on RBI’s de-registration call

The Reserve Bank of India’s latest list of Non-Banking Financial Companies (NBFCs) in the upper layer for 2026-27 has once again put the spotlight on Tata Sons and a key question: will the holding company eventually have to list, or could it secure regulatory relief? The RBI notification retained Tata Sons in the upper layer category as a core investment company (CIC), while clarifying that its inclusion is “without prejudice” to the outcome of its de-registration application, which is still under examination

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