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Fintech major PhonePe appoints new board member as it prepares for IPO

PhonePe is the largest player on India's real-time payments system Unified Payments Interface (UPI). It reversed its listing from Singapore to India in 2022

Zarin Daruwala served as the bank’s CEO for nine years from 2016. Earlier, she was president at ICICI Bank, where she managed the wholesale banking business.

Ajinkya Kawale Mumbai

1 min read Last Updated : Jun 05 2025 | 8:22 PM IST

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Fintech major PhonePe has appointed former Standard Chartered Bank India chief executive officer Zarin Daruwala to its board as the company prepares for its IPO.

Daruwala served as the bank’s CEO for nine years from 2016. Earlier, she was president at ICICI Bank, where she managed the wholesale banking business.

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The PhonePe board includes senior Walmart executives John David Rainey, Donna Morris, Leigh Hopkins; TeamLease vice-chairman Manish Sabharwal; IAS officer Tarun Bajaj; PhonePe chairman Rohit Bhagat; and co-founders Sameer Nigam and Rahul Chari.

PhonePe is the largest player on India’s real-time payments system Unified Payments Interface (UPI). It reversed its listing from Singapore to India in 2022.