Tata withdraws application for bank licence 

Tata Sons TATAS.UL has withdrawn its application for an Indian banking licence, but said it will look to enter the sector in future.  India is expected in January to announce the successful applicants to set up the country's first new banks in a decade.  "Tata Sons has reached a conclusion that the group's current financial services operating model best supports the current needs of the Tata group's domestic and overseas strategy," the country's biggest business house said in a statement.   Rules for new bank licences include a requirement that 25 percent of a new bank's branches be located in rural areas.