Flipkart co-founder Binny Bansal has stepped down from Indian fintech PhonePe's board of directors, three quarters after making a similar move at the Binny Bansal, who undertook the acquisition of PhonePe by Flipkart in 2016,

Digital payments giant PhonePe has appointed Manish Sabharwal as an independent director and chair of its audit committee. In this role, Sabharwal will be upholding the integrity and effectiveness of PhonePe's financial reporting, internal controls, and risk management practices, the company said.

Flipkart founder Binny Bansal has stepped down from the board of PhonePe, the company said. This comes after Bansal — who set up a new venture, ecommerce services platform OppDoor — left the Flipkart board in January.

PhonePe has appointed Manish Sabharwal as an independent director, replacing Binny Bansal. He will also chair the audit committee and help strengthen internal controls.

PhonePe announced that Flipkart’s co-founder, Binny Bansal has stepped down from its Board of Directors. The Fintech major appointed Manish Sabharwal, as an Independent Director and Chair of its Audit Committee.

Flipkart co-founder Binny Bansal has resigned from the board of directors at PhonePe. The decision comes three quarters after he had made a similar move at Flipkart. Bansal played a key role in Flipkart's acquisition of PhonePe in 2016 and has been on the board of the fintech firm since then.

Binny Bansal, Flipkart co-founder, has stepped down from the PhonePe board. His exit marks another milestone in his entrepreneurial journey, as he shifts focus to his latest venture, OppDoor. PhonePe founder Sameer Nigam expressed gratitude for Bansal’s strategic guidance and mentorship over the years.