
The Reserve Bank of India's (RBI) rejection of Tata Sons' application has raised questions about the application of the recent amendment to NBFC Upper Layer (NBFC-UL) regulation.
Experts suggest that Tata Sons may challenge the rejection on grounds of natural justice, citing the lack of disclosed reasons for distinguishing the Shanghvi Finance precedent.
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Coverage blindspot: Reporting on this development is currently concentrated in other segments of the media landscape.
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Impact on NBFC-UL regulation and Tata Sons' business operations
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