RBI Governor and ex-Titan chairman Shaktikanta Das pays homage to Ratan Tata

Reserve Bank of India (RBI) Governor Shaktikanta Das paid last respect to the mortal remains of legendary industrialist Ratan Tata on Thursday.

Following this, in a heartfelt post on social media platform X (formerly Twitter), he acknowledged Tata's immense contributions to India's economic growth and industry.

He wrote, “Honoured to have paid my respects to the mortal remains of Shri Ratan Tata. Truly a great visionary. Strong believer of ethics in corporate governance. He was also a member of RBI central board for more than 12 years. When the economic history of modern India is written, even one full volume will not suffice to describe Shri Ratan Tata’s phenomenal achievements. May his soul rest in eternal peace.”

The 25th RBI Governor, Das,  was nominated by the Tamil Nadu Government to serve as the Chairman of a Tata Group Company, Titan, from 2006 to 2008. 

It is notable that in his leadership, RBI introduced Scale-Based Regulations (SBR) that calls for mandatory listing of 'Upper Layer' of Non-Banking Financial Companies (NBFCs).

However, Tata Sons, which is now looking for a successor of Ratan Tata as chairman of Tata Trusts (Tata Trusts effectively controls Tata Sons having over 60 per cent stake in it) has applied to the RBI for exemption from listing.

With the passing of Ratan Tata , all eyes are once again on the RBI’s decision regarding Tata Sons' IPO, which would be a game-changer for the Indian market as well for Tata Trusts as the listing of Tata Sons would significantly benefit Tata Trusts, which hold a 66 per cent stake in the company.

This move could enhance corporate governance and provide liquidity through share sales, generating additional funds for Trusts’ philanthropic initiatives in education, healthcare, and social welfare.

Moreover, the proceeds from the IPO could be reinvested into these efforts, amplifying their societal impact.

If Tata Sons  complies with RBI regulations to go public by September 2025, this listing could also unlock substantial value from its investments, further supporting the Trusts’ financial needs.