Weeks after his group firm applied for a bank licence, Kumar Mangalam Birla said he had resigned from the board of the Reserve Bank of India to avoid any conflict of interest.

“I have resigned from the RBI board 4-5 days ago. So, there is no conflict of interest now,” Mr. Birla said here.

Mr. Birla was a nominated as a member of the directors of the Central Board of the RBI in 2006.

His group firm Aditya Birla Nuvo is among 26 entities, which have applied for a bank licence. The last date for applying for a bank licence expired on July 1.

The RBI is expected to grant new licences by March.

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