Paytm Payments Bank's CEO Surinder Chawla resigns
Paytm Payments Bank's managing director (MD) and chief executive officer (CEO) Surinder Chawla has resigned from the company, according to a regulatory filing by Paytm brand owner One97 Communications on Tuesday, April 9. Chawla will be relieved from his duties from June 16, 2024. Chawla's resignation comes amidst Paytm Payments Bank Ltd (PPBL) facing prohibitory action from the Reserve Bank of India (RBI).
In his resignation letter, the outgoing CEO said that he has tendered resignation on account of personal reasons. Chawla had joined PPBL in January last year. "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," One97 Communications said in its regulatory filing today. Also Read: RBI's grip tightens: What lies ahead for Paytm Payments Bank after regulatory blow ‘’Nearly all agreements between the company and Paytm Payments Bank have been terminated as per our disclosure on March 1, 2024'', said One97 Communications in its statement. The board of PPBL has been reconstituted with five independent directors including an independent chairperson, and no nominees from the company, as per our disclosure on February 26, 2024.
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