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RBI Approves Tata Capital’s Conversion into NBFC-ICC From NBFC-CIC

Published on August 20, 2024
Current Context: The Reserve Bank of India (RBI) has approved Tata Capital’s conversion from a Non-Banking Financial Company-Core Investment Company (NBFC-CIC) to a Non-Banking Financial Company-Investment Credit Company (NBFC-ICC).
RBI Approves Tata Capital’s Conversion into NBFC-ICC From NBFC-CIC
  • This change follows the merger of Tata Capital with Tata Cleantech Capital and Tata Capital Financial Services.
  • This transformation signifies Tata Capital’s shift to an operating company, paving the way for its potential listing.
  • The RBI has also classified Tata Capital and its parent company, Tata Sons, as NBFCs with an upper layer distinction, requiring both companies to go public by September 2025.

Question:

1 What change has the Reserve Bank of India (RBI) approved for Tata Capital?

  • A) Conversion from a bank to an NBFC
  • B) Conversion from a Non-Banking Financial Company-Core Investment Company (NBFC-CIC) to a Non-Banking Financial Company-Investment Credit Company (NBFC-ICC)
  • C) Merger with Tata Sons
  • D) Conversion into a full-fledged commercial bank
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