The travails of Sachin Bansal's Navi, a fintech that wanted to be a bank

Earlier this week, Bansal stepped away from the CEO post pf the finserv and tech verticals to focus on the group's long-term vision, expansion and M&A efforts

The past few months have been fairly uneventful for fintech firm Navi. On February 15, however the firm's founder and former Flipkart veteran Sachin Bansal announced he was stepping away from his role as chief executive officer. He will now be the Bengaluru-based group's executive chairman while appointing two new CEOs for its companies. 

Many who were aware of the development later said that this was along expected lines as Bansal wanted to focus on the group's long-term vision and also keep the Navi Technologies and finserv businesses separate. 

The appointment of two new CEOs - Rajiv Naresh for Navi