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The Reserve Bank of India is awaiting Tata Sons’ formal response on compliance with the Upper Layer NBFC framework. As per sources to ANI, Tata Sons has conveyed to the central bank that it will expedite the process and work towards complying with the RBI’s directive. The company’s board, at its September 17 meeting, had resolved to initiate the process for listing the holding company. Sources told ANI, the Tata Sons board is expected to finalise its response to the RBI, including a broad timeline for undertaking the listing process.