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Sachin Bansal to put $400m in banking biz

Jan 21, 2020 18:14 IST

Flipkart co-founder Sachin Bansal has said that he will deploy all the proceeds from the sale of his stake in the e-commerce player into his financial services venture Navi Technologies, the ET reported. Navi Technologies has applied for a universal banking licence with the RBI. Bansal could invest $400-450 million in the new venture, according to the report, which will likely make it one of the biggest equity infusions by a promoter into a new financial services venture.

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