Noel Tata, Chairman of the Trusts, along with another trustee, has begun the search for the next Tata Sons chief, meeting with former HDFC Chairman Deepak Parekh as part of the process.

Deepak Parekh has publicly supported the consolidation of Public Sector Undertaking (PSU) banks and called for an increase in the Foreign Direct Investment (FDI) cap in India.

Deepak Parekh has called for increased autonomy for banks and a raise in the Foreign Direct Investment (FDI) limits within the sector.