Flipkart cofounder Sachin Bansal has joined the board of Delhi-based Ujjivan Small Finance Bank. The appointment is critical to Sachin Bansal’s ambition to open a bank.
Launched in 2015, Ujjivan Small Finance Bank operates on the Reserve Bank of India’s licence to operate a small finance bank business. Ujjivan also tries to educate and empower the various sections of rural India through social welfare; healthcare, education, vocational training, community development, shelter, and disaster relief.
Bansal’s appointment supports Ujjivan’s plan to upgrade itself into a state-of-the-art mass market bank. The team is trying to change the mindset of the leadership to scale-up business with use of technology.
“He (Bansal) is an iconic leader in the e-commerce space with phenomenal technological acumen and foresight. His guidance & direction will be very valuable in achieving Ujjivan Bank’s mission of creating a state-of-the-art mass market bank” Ujjivan Small Finance Bank managing director Samit Ghosh said.