NBFCs in RBI's Upper Layer
RBI puts the largest and most connected NBFCs in the upper layer and supervises them closely. These 19 NBFCs are in it, as on 30 September 2026.
Upper layer: NBFCs RBI names each year as needing the closest supervision because of their size and risk, with rules close to those for banks.
| Company | Type | Layer | RBI regional office |
|---|---|---|---|
| Aditya Birla Capital Limited | ICC | Upper | Ahmedabad |
| Bajaj Finance Limited | ICC | Upper | Mumbai |
| Bajaj Housing Finance Limited | HFC | Upper | Mumbai |
| Cholamandalam Investment and Finance Company Limited | ICC | Upper | Chennai |
| HDB Financial Services Limited | ICC | Upper | Ahmedabad |
| Housing and Urban Development Corporation Limited | IFC | Upper | New Delhi |
| Indian Railway Finance Corporation Limited | IFC | Upper | New Delhi |
| L&T Finance Limited | ICC | Upper | Mumbai |
| LIC Housing Finance Limited | HFC | Upper | Mumbai |
| Mahindra & Mahindra Financial Services Limited | ICC | Upper | Mumbai |
| Muthoot Finance Limited | ICC | Upper | Thiruvananthapuram |
| Piramal Finance Limited | ICC | Upper | Mumbai |
| PNB Housing Finance Limited | HFC | Upper | Mumbai |
| Power Finance Corporation Limited | IFC | Upper | New Delhi |
| REC Limited | IFC | Upper | New Delhi |
| Sammaan Capital Limited | ICC | Upper | New Delhi |
| Shriram Finance Limited [Formerly: Shriram Transport Finance Company Limited] | ICC | Upper | Chennai |
| Tata Capital Limited | ICC | Upper | Mumbai |
| Tata Sons Private Limited | CIC | Upper | Mumbai |
How to check a loan app or lender in 4 steps
- Find the lender's legal name in the app's loan agreement, Key Fact Statement or website (not just the app's brand name).
- Search that name here, or in RBI's NBFC list, and match the address and CIN.
- Look the app up in RBI's directory of Digital Lending Apps (rbi.org.in, Citizen's Corner), where banks and NBFCs list the apps they use.
- Never pay a fee before the loan, and never share an OTP. Report an unregistered lender on RBI's Sachet portal, and fraud on 1930 or cybercrime.gov.in.
Full guide: how to check if a loan app is RBI registered · Sachet
Source: Reserve Bank of India, lists of NBFCs and ARCs registered with RBI and of NBFCs whose Certificate of Registration was cancelled, as on 30 September 2026. RBI updates the lists every month; check RBI's own list for the latest status. Oxon Fintech is a loan platform, not part of RBI, and is not connected with the companies listed here unless it says so. RBI's NBFC lists
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