15 august 2024 : The Reserve Bank of India (RBI) has granted approval for Tata Capital Limited (TCL) to transition from a non-banking finance company (NBFC)-core investment company (CIC) to a non-banking finance company-investment credit company (ICC).
This decision comes in the wake of TCL’s merger with Tata Cleantech Capital and Tata Capital Financial Services. The transition marks a significant shift for Tata Capital, as it evolves into an operating entity, thereby enhancing its prospects for a future public listing. Prior to this change, the company operated as a holding entity within the CIC framework.