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Ola finance chief quits as Uber's Indian rival faces valuation crunch

MUMBAI (NewsRise) -- The chief financial officer of Indian ride-hailing service Ola has stepped down, as the SoftBank-backed start-up grapples with eroding valuation amid waning investor interest in Internet companies.

Rajiv Bansal was appointed CFO of Ola --owned by ANI Technologies-- in November 2015, after he left Infosys, India's second-largest software exporter, where he was the finance chief. Bansal's exit comes at a time when online companies in India struggle to tide over a challenging funding environment, as investors are wary of pumping more money into firms that are yet to show signs of profits.

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