Bansal played an instrumental role in Flipkart's acquisition of PhonePe way back in 2016 and had been on its board since then (the payments firm separated from Flipkart in 2022).
Reserve Bank Governor Shaktikanta Das said India is now a fast-growing economic powerhouse and stressed that financial institutions and fintech must swiftly adopt a robust framework to capitalise on new opportunities and mitigate risks.
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