Piramal Enterprises receives approval from RBI to start NBFC business

The Reserve Bank of India (RBI) has allowed Piramal Enterprises to start their non-banking finance company (NBFC) business without accepting public deposits.

The RBI has grant license under Section 45 IA of the Reserve Bank of India Act, 1934. The license was received by the Company on 26th July, 2022.

Last year, the Piramal Enterprises board approved the demerger of its pharmaceuticals business and simplification of the corporate structure.