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    <title>RBI rejects Tata Sons&#039; bid to surrender NBFC licence, say sources</title>
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    <description>Reported rejection of Tata Sons&#039; application to surrender its non-banking financial company licence is attributed to failure to satisfy applicable deregistration criteria. The company is consequently described as remaining classified as an upper-layer NBFC, a classification carrying a mandatory public-markets listing requirement. The reported position makes a listing of the holding company imminent.</description>
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