Veteran Banker Romesh Sobti set to join Aditya Birla Capital board

Rehauling of business strategy is presently underway; set to approach the RBI for banking license once final guidelines is released

A fortnight after the Reserve Bank of India’s internal working committee (IWC) report opened the possibility for conglomerates-led non-banking finance companies (NBFCs) to convert to banks, Aditya Birla Capital may set the ball rolling. Veteran banker and former managing director and chief executive officer of IndusInd Bank, Romesh Sobti may join the board of the AB Capital, as a nominee director of Advent Capital. Advent had invested Rs 1,000 crore in AB Capital last September, for Rs 100 a share. While its stake in the company is 4.23 per cent, the private equity major, as part of its deal, had