RBI Governor Shaktikanta Das expressed his condolences on the passing of veteran industrialist Ratan Tata. He praised Tata's significant role in shaping a self-reliant India and described him as a towering figure in Indian industry, whose contributions will continue to inspire many.
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.”
"There are two things that stand out about Shri Ratan Tata. First, he was a true visionary. Second, he was a strong believer in ethics in corporate governance. I think whenever the economic history of modern India is written, I would feel that a full volume will not be enough to describe his achievements...A great son of India and a phenomenal person. May his soul rest in peace," he told ANI after paying tributed to the 86-year-old industrialist.
For the unversed, 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).
Ratan Tata, 86, chairman emeritus of Tata Sons, was admitted to Mumbai's Breach Candy Hospital on Monday, leading to widespread speculation about his health. He later clarified that he was undergoing routine medical check-ups for age-related concerns. However, reports soon emerged that he was placed on life support, though Tata Group officials did not confirm or deny the claims. Ratan Tata passed away on Wednesday night at around 11:30 PM.
Ratan Tata became chairman of the Tata Group in 1991, succeeding his uncle JRD Tata. Under his leadership, the group expanded significantly, acquiring notable British companies like steelmaker Corus and luxury car brand Jaguar Land Rover. Tata Group’s diverse operations now span industries such as coffee, cars, salt, software, steel, power, and airlines. They even launched India’s first super app and recently ventured into chip manufacturing and iPhone assembly. Last fiscal year, the group reported revenues of USD 165 billion.