Sachin Bansal plans to foray into financial services

Mumbai: Sachin Bansal, who cofounded Flipkart, a startup that grew into an ecommerce powerhouse, is venturing into the Indian financial services sector, which has drawn investments from the likes of Chinese billionaire Jack Ma’s Alibaba to Japanese investment powerhouse Soft-Bank.
The billionaire has been in discussions with financial experts on the potential to launch a new venture in a sector that is being transformed by fast-paced technological change, said two people in the know of the matter.
Bansal, 37, has met with executives at the Reserve Bank of India to figure out the regulatory needs to be eligible to commence a bank, said the people, who did not want to be identified.