Binny Bansal has resigned from PhonePe’s board of directors, a position he held since Flipkart’s acquisition of PhonePe in 2016. His departure follows a similar exit from Flipkart last January due to conflicts with his new B2B startup, OppDoor. In his place, Manish Sabharwal, founder of Teamlease, has been appointed as an independent director and chair of the audit committee. PhonePe, a leading fintech in India, boasts over 575 million registered users and significant financial growth, recently reporting over INR 5,000 crore in revenue for FY24, marking a successful milestone.