Sachin Bansal plans to foray into financial services - ET Retail
20 Feb 2019 9:21 PM GMT
Sources say Flipkart cofounder reached out to RBI officials to figure out the regulatory requirements for securing a licence to start a bank.
- The billionaire has been in discussions with financial experts on the potential to launch a new venture in a sector that is being transformed by fast-paced technological change, said two people in the know of the matter.
- Bansal, 37, has met with executives at the Reserve Bank of India to figure out the regulatory needs to be eligible to commence a bank, said the people, who did not want to be identified.
- Bansal, who made a fortune of about $1 billion when US retail giant Walmart bought a majority stake in Flipkart last year, has been eyeing a plethora of options including that of building a bank from scratch, said the people privy to the discussions held by Bansal.
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