The Reserve Bank of India (RBI) released the updated list of Upper Layer Non-Banking Financial Companies (NBFCs) for 2026–27, with 17 entities against 15 earlier. In June 2026 RBI set an asset-size threshold of ₹1 lakh crore or more for this layer.
REC Limited, Power Finance Corporation, Indian Railway Finance Corporation and HUDCO were added. PNB Housing Finance and Sammaan Capital dropped out on the new criterion but stay under enhanced regulation due to a five-year lock-in. Tata Sons' application to surrender its Core Investment Company registration is still under examination.