RBI drops indirect public‑funds rule, easing Tata Sons IPO pressure
The RBI’s latest circular omits the contentious definition of ‘indirect public funds’ for non‑bank financiers, a clause that could have compelled Tata Sons to list its shares. Without that trigger, the $22 billion holding company can stay private despite crossing the ₹1 trillion asset threshold. The move hints at a regulatory leeway for core investment companies.