R Sridhar, managing director and chief executive of Shriram Capital, quit the banking licence aspirant amid speculation about differences between senior executives on how to approach the group's financial services business in future. Sridhar has been the face of Shriram Group as he spearheaded the group's truck funding business. He may continue as a non-executive director in a few group companies for a few more months before taking up another assignment.

Read the Economic Times news report here.