Binny Bansal, Flipkart co-founder and a pivotal figure in PhonePe’s acquisition in 2016, has stepped down from the board of the fintech giant.
PhonePe announced the addition of Manish Sabharwal, Vice-Chairman of Teamlease Services, as an Independent Director and Chair of its Audit Committee. CEO Sameer Nigam praised Bansal’s strategic mentorship, calling him a crucial early supporter. Sabharwal’s expertise in India’s macroeconomy and policies is expected to guide PhonePe towards its vision of a developed India by 2047. PhonePe separated from Flipkart in 2022.