Navi Founder Sachin Bansal: Fintechs Must Prioritize Regulation Over Consumers, Investors, Employees:

Sachin Bansal, founder of Navi Finserv and co-founder of Flipkart, urged fintech startups to place regulatory compliance above all else—including customers, employees, and investors—amid a fast-changing regulatory landscape.

Speaking at the Startup Mahakumbh in Delhi on April 4, Bansal highlighted the central role of the Reserve Bank of India (RBI) and the increasing pace of regulatory updates. His comments follow a brief ban on Navi Finserv by the RBI last year over alleged predatory lending practices.

Regulatory Agility Key in the Fintech Sector

“Regulations are changing fast in fintech, especially in the last few years. Even after you get punched in the face in the boxing ring, you get up and keep going,” Bansal remarked. He acknowledged that while strict adherence to compliance might sometimes conflict with user-centric decisions, fintech players have no option but to align with regulators first.

Opportunities Amidst the Challenges

Despite past friction with the Commerce Ministry and Enforcement Directorate during his time at Flipkart, Bansal emphasized the rewards of enduring the regulatory pressure in fintech.

“If you don’t mind the pain, it is very rewarding—solving for billions. In startups, changes come fast. In fintech, they come even faster,” he added.

PB Fintech’s Alok Bansal Echoes the Sentiment

Alok Bansal, co-founder and vice chairman of PB Fintech, shared similar views during the event. “You have to treat the regulator and the government like another CXO at the table. They can be unpredictable. If you're not prepared, it’s tough to manage. Thankfully, we were ready,” he said.