The Reserve Bank of India (RBI) is expected to take a decision as early as May on Tata Sons’ application to surrender its Core Investment Company (CIC) registration, according to sources familiar with the matter. The holding company of the Tata Group had formally approached the central bank in 2024, seeking deregistration amid regulatory requirements tied to its classification.

Tata Sons was designated as an Upper Layer Non-Banking Financial Company (NBFC-UL) by the RBI in September 2022, bringing it under stricter regulatory oversight. Under prevailing norms, NBFCs in the upper layer are required to list their shares within three years of classification.

The conglomerate had requested an exemption from the mandatory listing requirement, citing its ownership structure and legacy framework. However, the RBI declined this request in 2024, maintaining its stance on uniform regulatory compliance.