Paytm founder and CEO Vijay Shekhar Sharma has resigned from his position as part-time non-executive chairman and board member of Paytm Payments Bank Limited (PPBL).

Appointment

Paytm founder and CEO Vijay Shekhar Sharma has resigned from his position as part-time non-executive chairman and board member of Paytm Payments Bank Limited (PPBL). One97 Communications Limited, the parent company of Paytm, has informed that PPBL has reconstituted its board, adding that Sharma’s resignation will “enable this transition”. The decision follows a series of measures imposed by the Reserve Bank of India (RBI), including an order for Paytm Payments Bank to wind down operations by 15 March 2024 due to persistent compliance issues and supervisory concerns.


      These issues prompted a major board overhaul, with former chairman of Central Bank of India, Srinivasan Sridhar, former Bank of Baroda Executive Director Ashok Kumar Garg, and two retired Indian Administrative Service (IAS) officers joining the payments bank's board.

     

     

 

     


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