New norms, currently a draft circular, take away a part of RBI’s discretion to decid who gets to be on the list. The defining criteria for a non-bank to enter the club is if it has assets of ₹1 trillion or more. Tata Sons had total assets of ₹1.75 trillion on a standalone basis as on 31 March 2025.
Tata Sons’ exit door from upper layer NBFC list narrows
