PhonePe has appointed Manish Sabharwal, founder of TeamLease, as an independent director, succeeding Binny Bansal of Flipkart. Sabharwal will chair the audit committee and focus on enhancing the company's financial reporting integrity and risk management practices as PhonePe prepares for an IPO in the coming years. The fintech firm, which holds nearly 50% of the UPI market share, aims to strengthen its internal controls under his guidance.
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