Upper layer NBFCs have to list: RBI guv on Tatas; dispels doubts on Sept order
RBI Governor Sanjay Malhotra stated that upper layer non-banking financial companies (NBFCs) must list on the stock market, implying Tata Sons may be noncompliant with RBI regulations. He did not comment on Noel Tata's proposal to merge subsidiaries with the holding company, which could avoid the listing requirement. The RBI's order is expected in September.