Bansal, through Chaitanya India, has applied for a banking licence.

Incoming promoter Walmart also wanted to work with Flipkart co-founder Binny Bansal and CEO Kalyan Krishnamurthy, who were running day-to-day operations after Sachin Bansal became the executive chairman in 2016.

Both firms were sold off by Mumbai-based business groups in distress sales as liquidity crunch hits the financial services space.

Chaitanya India, on the other hand, will continue to offer microfinance options to the low-income segment.

He has sold all his shares in the bank.“While Bansal has not built a financial services business, he was behind a large consumer business (Flipkart). | To read full story, visit https://startuparound.com/read/1580020206.6882327/Sachin-Bansal-bets-Flipkart-fortune-on-banking-services?ref=audio_experience