For Quick Alerts
For Daily Alerts

K M Birla resigns from RBI's board

By Religare
K M Birla resigns from RBI's board
Kumar Mangalam Birla, Chairman of Aditya Birla Group has resigned from the Reserve Bank of India (RBI)'s central board of directors, weeks after his group firm applied for a bank licence from RBI, said the media report.

Birla who was appointed to the central bank's board in June 2006 said that he has resigned from RBI Board 4-5 days ago so there is no interest of conflict now.

RBI's website removed Birla's name from its site on Tuesday. RBI Governor D Subbarao had recently said the apex bank would look into the issue and "consult" the government on Birla's continuation on the board, added the media report.

The central bank has received applications from 26 entities, including Aditya Birla Nuvo, the Tatas, and Anil Ambani for banking permits.

Moreover, Reserve Bank of India is expected to grant new licences by March next year, said the media report.

Read more about: rbi
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more