Flipkart co-founder Sachin Bansal resigns from Ujjivan Small Finance board

Since leaving Flipkart in 2018, Sachin Bansal has been investing his wealth in various startups and lending institutions, largely in the form of debt.

Sachin Bansal has resigned as an independent director of Ujjivan Small Finance Bank. The Flipkart co-founder said that he is resigning from Ujjivan Small Finance Bank’s board “in the interest of propriety and corporate governance as an entity owned and controlled by him has made an application to the Reserve Bank of India for a universal banking license.”

He said that there is no other material reason for his resignation.

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