Tata Capital to start operations this fiscal
The Economic Times — July 20, 2007

Tata Capital, the new financial services arm of Tata Sons, would start operations from the current financial year.

Tata Sons executive director R Gopalakrishnan told media that the company had been already registered and would start functioning this fiscal.

The company would operate in a broad spectrum of financial services like brokerage, leasing, asset management, leasing, retail finance and merchant banking, he said.

Tata Capital would strive to become a major player in the financial services arena, Gopalakrishnan said.

The company would not enter the insurance sector as Tata AIG was already in this sector along with a foreign player. Tata AIG is a joint venture between the Tatas and American International Group.

The Group had made an exit from the financial service business following the merger of Tata Finance with Tata Motors in 2005.