Paytm Payments Bank Chairman Vijay Shekhar Sharma Resigns

Paytm Payments Bank Chairman Vijay Shekhar Sharma Resigns


Following regulatory measures by the Reserve Bank of India, Paytm Payments Bank Ltd. remains a frequent topic of discussion in the news.

Vijay Shekhar Sharma, the founder and CEO of Paytm, has stepped down from his role as part-time non-executive chairman and board member of Paytm Payments Bank Limited.On Monday, One97 Communications Ltd, the parent company of Paytm, made an announcement in a regulatory filing. 

In a filing made on Monday, Paytm Payments Bank Limited revealed a restructuring of its Board of Directors. The bank has appointed former Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Bank of Baroda Executive Director Ashok Kumar Garg, and former IAS officer Rajni Sekhri Sibal as independent directors.

The Reserve Bank of India (RBI) imposed notable business constraints on PPBL on January 31, including a ban on accepting new deposits and engaging in credit transactions beyond February 29, with an extension granted until March 15.

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