Flipkart co-founder Sachin Bansal forayed into the financial services business by acquiring a majority stake in Chaitanya Rural Intermediation Development Services Pvt. Ltd (CRIDS), a non-banking financial company (NBFC), for ₹739 crore. Bansal will assume the role of chief executive of CRIDS. Both the founders will continue with their respective roles of growing the existing business segments.

(Live Mint)