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Paytm's Head of Compliance, Srinivas Yanamandra, has announced his resignation to pursue academic research, as per a company filing. Yanamandra who joined Paytm in April 2022 will remain in his role until February 28, 2025.
The move aligns with Paytm's recent organizational restructuring, which established compliance leaders across its business entities. Yanamandra previously served as Chief of Compliance at New Development Bank in Shanghai and held senior roles at IDFC FIRST Bank and ICICI Bank, bringing over 11 years of experience.
A chartered accountant by profession, he earned national ranks in both CA and Cost Accountancy exams.
In his resignation email to Paytm CEO Vijay Shekhar Sharma, Yanamandra expressed a desire to focus on academic research a plan he had been considering for several months.
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Paytm reaffirmed its commitment to regulatory excellence and plans to strengthen its compliance framework by hiring additional professionals. The company emphasized its focus on sustainable growth and regulatory adherence.
Yanamandra’s departure comes during a period of recovery for Paytm. The company’s stock recently hit a 52-week high of INR 1,063 on December 17, 2024, recovering 204.91% from its low of INR 310 in May.
Paytm has also seen significant milestones recently, including reporting its first profitable quarter in Q2 FY25 with a PAT of INR 930 Cr and selling its movie and event ticketing business to Zomato for INR 2,048 Cr.
Additional achievements include selling stock acquisition rights in PayPay Corporation to SoftBank’s Vision Fund 2 for INR 2,364 Cr and receiving NPCI approval to onboard new UPI users.
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