NEW DELHI: Paytm Payments Bank’s managing director and CEO Surinder Chawla resigned from the company, as per a regulatory filing on Tuesday. Chawla’s resignation coincides with Paytm Payments Bank facing regulatory action from the RBI.
In a regulatory filing, Paytm’s brand owner One97 Communications said, “Surinder Chawla, Managing Director and CEO of PPBL has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects.He will be relieved from PPBL w.e.f. close of business hours on June 26, 2024, unless changed by mutual consent,”
Chawla assumed his role at PPBL in January last year. Prior to that, he held the position of head of branch banking at RBL Bank. Chawla has also worked with organisations such as HDFC Bank, Standard Chartered Bank, among others.
This development follows Paytm Payments Bank halting basic banking services nearly a month ago under directives from the RBI.
Additionally, the fintech firm headquartered in Noida disclosed to the exchanges that Paytm has terminated all ties with PPBL. Furthermore, the bank’s board has been reconstituted, now comprising five independent directors along with an independent chairperson.
(With agency inputs)
In a regulatory filing, Paytm’s brand owner One97 Communications said, “Surinder Chawla, Managing Director and CEO of PPBL has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects.He will be relieved from PPBL w.e.f. close of business hours on June 26, 2024, unless changed by mutual consent,”
Chawla assumed his role at PPBL in January last year. Prior to that, he held the position of head of branch banking at RBL Bank. Chawla has also worked with organisations such as HDFC Bank, Standard Chartered Bank, among others.
This development follows Paytm Payments Bank halting basic banking services nearly a month ago under directives from the RBI.
Additionally, the fintech firm headquartered in Noida disclosed to the exchanges that Paytm has terminated all ties with PPBL. Furthermore, the bank’s board has been reconstituted, now comprising five independent directors along with an independent chairperson.
(With agency inputs)