How fit-and-proper is Sachin Bansal to run a bank?

The billionaire co-founder of Flipkart’s quest for a full banking licence is one paper away from fruition. What are his chances?

In September 2019, the co-founder of India’s star e-commerce, Sachin Bansal, was not the first suitor of an insurance business that was on the block. Beleaguered home finance company DHFL’s parent WGC was selling its stake in its general insurance unit to bring down its liabilities and wanted to exit quickly. Another tech entrepreneur, Paytm’s Vijay Shekhar Sharma, was already at the door offering more money, but wouldn’t sign the dotted line until December.

But WGC could not wait and decided to exclusively deal with Bansal as he seemed a surer suitor. The due diligence prolonged and it was not …

Author

T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor

surendar@mailtmc.com

Mumbai