Flipkart co-founderBinny Bansal Steps Down From PhonePe Board

Binny Bansal, co-founder of Flipkart, has stepped down from PhonePe’s board after playing a key role in its acquisition in 2016. PhonePe appointed Manish Sabharwal as an Independent Director and Chair of its Audit Committee. CEO Sameer Nigam expressed gratitude for Bansal’s mentorship and welcomed Sabharwal’s expertise in macroeconomics to guide the company’s future growth.