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Aditya Birla Nuvo Chairman Kumar Mangalam Birla has submitted his resignation from the Reserve Bank of India’s Central Board. The resignation is to avoid any conflict of interest as Aditya Birla Nuvo has applied to the RBI for a bank licence. The company is one of the 26 firms that have applied for a banking licence.
Birla has been on the RBI’s central board for the past six years. The RBI’s updated list of Directors of the Central Board does not mention Birla’s name, according to the RBI Web site.
Earlier this month, RBI Governor D. Subbarao said the central bank would consult the government on the same.
beena.parmar@thehindu.co.in
Source: thehindubusinessline
Birla has been on the RBI’s central board for the past six years. The RBI’s updated list of Directors of the Central Board does not mention Birla’s name, according to the RBI Web site.
Earlier this month, RBI Governor D. Subbarao said the central bank would consult the government on the same.
beena.parmar@thehindu.co.in
Source: thehindubusinessline
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