Paytm Payments Bank board reconstituted, Vijay Shekhar Sharma resigns as chairman
Paytm, announced on Monday that founder Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank. “The Company has been separately informed that Vijay Shekhar Sharma has also resigned from the Board of Paytm Payments Bank to enable this transition.
PPBL has informed us that they will commence the process of appointing a new Chairman," the company said in an exchange filing. Also read: Have Paytm and Byju's debacles dented Indian startups' prospects? Experts weigh in Srinivasan Sridhar, former chairman of Central Bank of India, retired IAS officer Debendranath Sarangi, former executive director of Bank of Baroda Ashok Kumar Garg, and retired IAS Rajni Sekhri Sibal have joined the board as independent directors.
Beyond these, the board has former Executive Director of Punjab & Sind Bank Shri Arvind Kumar Jain as Independent Director and Surinder Chawla, MD & CEO at Paytm Payments Bank. “We welcome the appointment of Shri Srinivasan Sridhar, Shri Debendranath Sarangi, Shri Ashok Kumar Garg, and Smt Rajni Sekhri Sibal to our Board, marking a significant step forward in PPBL's journey.
Their distinguished expertise will be pivotal in guiding us toward enhancing our governance structures and operational standards, further solidifying our dedication to compliance and best practices," said Surinder Chawla, MD & CEO at Paytm Payments Bank. Shri Srinivasan Sridhar, Board Member, Paytm Payments Bank Board said, "I am dedicated to utilizing my extensive banking expertise to steer the bank towards expanding its range of compliant services.
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