Tata Motors, Piramal: Surrender NBFC Licence to RBI

Mumbai, Feb 10 (PTI) The RBI on Tuesday announced that Tata Motors Finance and Piramal Enterprises have surrendered their certificate of registration.

Both entities had merged with associate companies in the recent past.

Along with these two entities, six other non-banking finance companies (NBFC), AAR Shyam India Investment Company, Rama Investment Co, Sri Ramachandra Enterprises, Shree Nirman, Ankita Pratisthan, and Mayuka Investment, also surrendered their licences, RBI said in a release.

Tata Motors Finance had completed its merger with Tata Capital on May 8, 2025, following all the necessary approvals from the authorities.

Further, Piramal Enterprise merged with Piramal Finance in September 2025.


In a separate development, the central bank has invited public comments on draft amendments proposing to exempt certain non-banking financial companies (NBFCs) from the requirement of registration with the central bank.

The draft Reserve Bank of India (Non-Banking Financial Companies Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026 were issued after the RBI announced it in the February monetary policy on February 6.

The central bank has sought comments from NBFCs, stakeholders and members of the public by March 4, 2026.

Under the proposed framework, NBFCs that do not accept public funds and do not have any customer interface, with an asset size of less than Rs 1,000 crore, will be exempted from the registration requirement with the RBI, subject to specified conditions. These entities are commonly categorised as 'Type I NBFCs', the central bank said in a release.

The RBI said the move follows a review of the Scale Based Regulatory (SBR) Framework introduced in October 2021, which recognises that NBFCs without public funds or customer interface carry a lower risk profile and therefore merit differential regulatory treatment. Such entities are currently placed in the Base Layer of the SBR framework and are subject to relatively relaxed norms, release added.

The draft directions also outline the procedure for deregistration or conversion of existing eligible NBFCs, including those currently holding a certificate of registration as Type I NBFCs, along with other related provisions, RBI said.