Mumbai: Flipkart founders Sachin Bansal and Binny Bansal are out of billionaires list due to successive devaluation of their e-commerce company by different funding agencies.
The past year was turbulent for Flipkart which faced strong competition from Snapdeal and US e-retail giant Amazon.
Coming back to the rich Indians list, Indian Prime Minister Narendra Modi’s decision to demonetise Rs 500 and Rs 1000 notes also seemed to have an impact on the number of billionaires in the country. The country lost 11 billionaires since the note ban was announced on November 8