Big StoryBusinessMumbai (Bombay)

Sachin Bansal resigned as director of Ujjivan Small Finance Bank in 7 months

  • Said – Having left the post due to morality, my company has also applied for banking license.
  • Bansal’s company Chaitanya India Finance Credit had applied to the RBI recently.

MUMBAI: Flipkart co-founder Sachin Bansal resigned from the post of independent director (independent director) of Ujjivan Small Finance Bank on Monday. They have also been excluded from different committees of the bank. Ujjivan gave this information on Tuesday. Bansal has said that he resigned keeping in mind the interests of business ethics and corporate governance, as his company Chaitanya India Finance Credit itself has applied for a universal banking license. Apart from this, there is no other reason for resignation. Bansal became the director of Ujjivan in May last year.

Sachin Bansal bought Chaitanya for Rs 739 crore

Sachin Bansal is focusing on the financial services sector through his investment company Navi Technologies. Bansal started Navi Technologies after leaving Flipkart in May 2018. In September 2019, micro finance firm Chaitanya was bought for Rs 739 crore. It has 40 branches in Karnataka, Bihar, Maharashtra, Rajasthan and Jharkhand. At the time of Chaitanya’s application of Universal Banking License, Sachin Bansal said that this shows our commitment to provide financial services to the needy people.

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