Videocon chief Dhoot may not join RBI board

Soon after Aditya Birla Nuvo applied for a banking licence on July 1, parent group Aditya Birla’s chairman Kumar Mangalam Birla stepped down from the RBI board to avoid a possible conflict of interest. But that hasn’t stopped the finance ministry from identifying Videocon’s Venugopal Dhoot as a possible replacement for GMR’s G M Rao, who recently stepped down from RBI’s board. A list published by the central bank shows Dhoot’s Aurangabad-based company Value Industries (formerly Videocon Appliances) as one of the aspirants for starting a bank in India. However, since the stakes are high for the Videocon group, there are indications that Dhoot may not join RBI’s board at this stage. 

TOI