.........Unfortunately, as in most such cases, the statement leaves more questions unanswered than answered and inevitably leads to a great deal of speculation. What is the ‘real’ reason why the Tatas, one of the most respected corporate groups in the country, has chosen to withdraw its application? After all, nothing has changed since the final guidelines for issue of bank licences were announced by the RBI; and the final guidelines were announced after months if not years of debate. The Tatas must have done a careful assessment of whether or not a bank was an appropriate ‘fit’ in the overall the group strategy before deciding to apply for a bank licence. So what explains their getting cold feet at the last minute, just weeks away from the deadline announced by the RBI governor, Raghuram Rajan, for issue of bank licences?..........
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