How many NBFCs are included in the NBFC-Upper Layer list for the financial year 2026-27?

The RBI released the revised list of NBFCs in the 'Upper Layer' for the financial year 2026-27, comprising 17 NBFCs; REC, PFC, IRFC, and HUDCO have entered the Upper Layer for the first time. Under the RBI's Scale-Based Regulation, NBFCs are classified into Base, Middle, Upper, and Top Layers; Tata Sons remains on the list, while PNB Housing Finance and Sammaan Capital have been excluded.