RBI okays Tata Capital conversion to NBFC-ICC

The Reserve Bank of India (RBI) has approved Tata Capital Limited’s (TCL) conversion from a non-banking finance company (NBFC)-core investment company (CIC) to an NBFC-investment credit company (ICC).

This follows TCL’s merger with Tata Cleantech Capital and Tata Capital Financial Services. The change signifies Tata Capital’s transformation into an operating company, paving the way for its potential listing. Previously, it functioned as a holding company under the CIC structure.

TCL had earlier announced the merger of Tata Motors Finance Ltd with itself, effective April 1, expected to be completed within 9-12 months.