Former IRS Rajeev Agarwal Joins Paytm Money as Independent Director

Paytm Money, a fully owned subsidiary of One97 Communications Ltd. (Paytm), has appointed Rajeev Krishnamuralilal Agarwal as an additional non-executive independent director on its board.

Agarwal will also be part of the Audit Committee and will lead both the Risk Management Committee and the Corporate Social Responsibility Committee at Paytm Money.

Agarwal brings over 40 years of experience, including 28 years with the Indian Revenue Services. As a Whole-Time Member of SEBI, he played a key role in market reforms, such as the 2012 revival package for the mutual fund industry and the 2015 merger of the Forward Markets Commission with SEBI.

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He also led important initiatives like improving transparency with IPO reforms, creating the offer-for-sale mechanism for PSU disinvestment, and supporting the growth of the SME exchange, which helped small businesses and startups access funding.

Besides being a Non-Executive Independent Director at Paytm Money, Agarwal is also on the board of One97 Communications (Paytm). He holds key roles as Chairman and Independent Director at Trust Mutual Fund, and as Independent Director at ACC Ltd., Star Health Insurance, UGRO Capital, and MK Ventures Capital.

Rakesh Singh, CEO - Paytm Money said, “Our mission is to democratize access to financial markets and simplify the investment journey for millions of Indians. Having made significant strides in enhancing our governance framework, we continue to innovate and expand our investment offerings. With Shri Agarwal’s deep expertise in governance and risk management, we are confident that his guidance will further strengthen these efforts and drive long-term, sustainable growth.”

Agarwal joins a board that includes members like Narasinganallore Venkatesh Srinivasan and Cyrus Khambata, both of whom have over 40 years of experience in banking, capital markets, finance, and risk management.

The platform also offers a ‘Margin Pledge,’ which allows traders to use their stock holdings for leverage in trades, as well as the Pay Later (MTF) facility for additional leverage. The platform has expanded its services, including the launch of BSE Futures & Options (BSE F&O) trading, which allows traders to trade SENSEX and BANKEX Option contracts.

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