Mumbai, Oct. 9 -- Flipkart co-founder Sachin Bansal seems to be doubling down on his bet on the financial services sector, targeting Essel group's mutual fund business and making yet another debt investment in a non-bank lender.

On Monday, the Competition Commission of India (CCI) tweeted that it had "received the first green channel combination pertaining to the acquisition of the Essel Mutual Fund by an entity forming a part of the Sachin Bansal Group."

The green channel is a speedier approval route for mergers and acquisitions. Under this process, the combination is deemed to have been approved upon filing the notice in the prescribed format.

Bansal's interest in asset management follows his recent acquisition of non-banking financial...