The Reserve Bank of India (RBI) continues to keep Tata Sons on its list of Upper Layer non-banking financial companies (NBFCs), according to a report referencing the latest published roster. The update maintains a total of 17 NBFCs in the Upper Layer category. Alongside Tata Sons, other entities listed as retaining their Upper Layer status include PNB Housing Finance and Sammaan Capital. The development comes despite Tata Sons’ earlier plea for de-registration, which seeks removal from the list. The report also notes that two other companies, REC and PFC, are now included in the Upper Layer list in this latest cycle. The RBI’s Upper Layer classification is based on criteria that assign heightened regulatory oversight to larger and more systemically important NBFCs. With this update, the RBI continues to apply that regulatory framework to the companies included in the Upper Layer set, while the outcome of any de-registration request remains subject to RBI’s regulatory process.