One 97 Communications, a bank affiliate, and Paytm’s parent company announced to the stock exchanges on Tuesday that the managing director and CEO of Paytm Payments Bank Surinder Chawla had resigned.
Nearly a month has passed since Paytm Payments Bank Ltd (PPBL) discontinued basic banking services according to the Reserve Bank of India’s directive.
In February of last year, Chawla became a Paytm Payments Bank member. Before this, he held the position of senior executive vice president and head of the retail liabilities product group at HDFC Bank for over 11 years, in addition to serving as the head of branch banking at RBL Bank for over nine years.
Chawla submitted his resignation on Monday, stating in the document that he was leaving to seek “better career prospects” and personal considerations. June 26 is the last day he will be working.
In the meantime, Paytm Payments Bank’s board member and part-time non-executive chairman Vijay Shekhar Sharma also resigned. The business also declared that five new directors had been added to the board of directors.
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