Sachin Bansal has resigned as an independent director of Ujjivan Small Finance Bank.
He said he was resigning from Ujjivan Small Finance Bank's board in the interest of propriety and corporate governance as an entity owned and controlled by him has made an application to the Reserve Bank of India for a universal banking license.
Bansal founded Navi Technologies after moving out of Flipkart in May 2018, following the e-commerce major’s takeover by global retailing giant Walmart.
The government has announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment.
As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS.
Management control of the airline would also be transferred to the successful bidder.This is the second time in less than two years that the government has come out with proposal for selling stake in Air India.