PhonePe Appoints Manish Sabharwal as Independent Director and Audit Chair

PhonePe, announced the appointment of Manish Sabharwal as an Independent Director and Chair of its Audit Committee. In this role, Manish will be instrumental in upholding the integrity and effectiveness of PhonePe's financial reporting, internal controls, and risk management practices.

PhonePe also announced that Flipkart's co-founder, Binny Bansal has stepped down from its Board of Directors. Binny acquired PhonePe in 2016 and has been on its Board since then.

Speaking on the board changes, Sameer Nigam, CEO and Founder of PhonePe said, “I would like to express my heartfelt gratitude to Binny Bansal for being one of PhonePe's earliest and staunchest supporters. His active engagement, strategic guidance, and personal mentorship have profoundly enriched our discussions. Binny will be missed!”

“We are also thrilled to welcome Manish Sabharwal to the PhonePe board. His incredible depth of understanding of India's macro economy, coupled with his leadership in shaping India's policies for education, employment, and employability will be invaluable as PhonePe continues to work ahead towards our shared vision of a Viksit Bharat by 2047.”

Manish has a strong background in policy-making, with a focus on education, employment, and skill development. He previously served as an Independent Director on the Board of the Reserve Bank of India (RBI). Currently, he is a member of the Advisory Board of the Comptroller and Auditor General (CAG) and a governing board member of the National Council of Applied Economic Research (NCAER). Additionally, he serves as the Managing Trustee of the New India Foundation, which provides fellowships for authors writing about post-1947 India. He is also a regular columnist for The Indian Express. Manish earned his MBA from The Wharton School and is an alumnus of Shri Ram College of Commerce, Delhi, and Mayo College, Ajmer.