RBI governor signals continuity amid Tata Sons listing speculation – News Air Insight

Mumbai: Amid rising speculation over Tata Sons‘ non-compliance with the RBI’s listing mandate, governor Sanjay Malhotra said an entity can continue to operate as long as its registration remains valid and has not been cancelled.

“We don’t comment on any specific entity,” Malhotra said. “Any entity which has a registration till it is not cancelled, will continue to do its business.”

The RBI had earlier classified 15 entities as upper layer under its scale-based regulation for non-bank finance companies (NBFCs) and directed them to get publicly listed by September 30. All complied with the mandate except Tata Sons, a core investment company (CIC).

In response, Tata Sons applied last year to surrender its CIC registration for averting the listing requirement. The central bank is yet to take a decision on the application.

With the listing deadline having passed and no clarity on Tata Sons’ de-registration, speculation continues on the way forward for the holding company of one of India’s largest conglomerates.