PhonePe has announced the appointment of Manish Sabharwal as Independent Director and Chair of its Audit Committee, following the departure of Flipkart co-founder Binny Bansal from the company's Board of Directors.

Sameer Nigam, Founder and CEO of PhonePe, expressed his gratitude for Bansal's contributions, stating, “I would like to express my heartfelt gratitude to Binny 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!”

Welcoming Sabharwal, Nigam added, “We are thrilled to have Manish join the PhonePe Board. His deep understanding of India’s macroeconomy and his leadership in shaping policies for education, employment, and employability will be invaluable as PhonePe pursues its vision of a Viksit Bharat by 2047.” The company emphasized Sabharwal’s critical role, noting, “As Chair of the Audit Committee, Manish will uphold the integrity and effectiveness of PhonePe’s financial reporting, internal controls, and risk management practices.”