Under RBI guidelines, NBFC-ULs have to implement a board-approved policy for adopting the enhanced regulatory framework applicable to them and mandatorily list within three years of this. Tata Sons Chairman N Chandrasekaran met RBI officials in this regard last week, the report said.
Tata Sons is a systemically important investment company and borrows heavily from the banking system, it added.
"It has so much of financial resources that it has to be extremely careful with its investments,” one of the persons cited above told ET.
The report said Tata Sons did not comment.
The holding company is home to 29 listed companies, nearly five dozen unlisted ones and hundreds of subsidiaries in 10 sectors.
“Tata Sons, which is a core investment company, holds stakes in several Tata companies and some companies hold stakes in Tata Sons,” the person said. “It is, in that sense, a complicated structure and while it holds tremendous clout in the banking system as a huge guarantor for loans taken by group companies, it does not directly take funds or lend to the public as a traditional NBFC.”
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