Kumar Mangalam Birla resigns from RBI board

Kumar Mangalam Birla, chairman of Aditya Birla Group, has resigned from the board of the Reserve Bank of India (RBI), a person familiar with the development told Mint.

The government has accepted Birla’s resignation, according to an RBI spokesperson.

Early in July, RBI governor D. Subbarao had said that the banking regulator wants to consult the government about any possible conflict of interest in Aditya Birla Nuvo Ltd seeking a banking licence and Aditya Birla Group chairman Kumar Mangalam Birla being on the board of the central bank.

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