Tata Capital Financial Services, Tata Cleantech Capital to merge with Tata Capital

Tata Capital Financial Services and Tata Cleantech Capital will be merged with their parent company, Tata Capital. This would enable Tata Capital Financial Services to meet the revised regulatory framework as part of the Reserve Bank of India's scale-based regulations. In September 2022, RBI had added Tata Capital Financial Services to its list of non-bank lenders in the upper layer under scale-based regulations. It has to implement a board-approved policy for adopting the applicable enhanced regulatory framework and mandatorily list within three years of the central bank's classification as an 'upper layer' non-bank lender.