RBI Forces Tata Sons to List, HDFC Bank CEO Race Heats Up

The Reserve Bank of India has rejected Tata Sons' two-year plea to surrender its NBFC licence, effectively forcing India's largest conglomerate to go public. In a letter dated September 11, the RBI directed Tata Sons to comply with upper-layer NBFC rules—a classification that includes mandatory stock-market listing. The decision closes the deregistration route Tata had pursued since March 2024, despite repaying ₹21,813 crore of debt to become net...