NBFC loans against gold jewellery grew 69.3% YoY to Rs 3.41 lakh crore by June 2026, outpacing overall retail loan growth of 20.3%, despite RBI's tightened regulatory framework for gold-backed lending.
The Reserve Bank of India classified Tata Sons as an Upper Layer Non-Banking Financial Company, triggering stricter regulatory oversight and a mandatory three-year stock exchange listing requirement, contingent on its pending CIC registration surrender application.
RBI's updated NBFC rules, effective July 1, 2026, have tightened definitions of public funds and overseas investments, preventing Tata Sons from exiting regulatory oversight and avoiding a mandatory public listing. The holding company's strategy to deregister as a core investment company is now invalidated.
The Reserve Bank of India has cancelled the registration of 135 non-banking finance companies, with many based in West Bengal. Additionally, 13 NBFCs surrendered their licenses due to exiting the business or ceasing to be legal entities.
