Paytm Payments Bank's MD and CEO Surinder Chawla steps down
Paytm Payments Bank's (PPBL) Managing Director and CEO Surinder Chawla is stepping down citing personal reasons and submitted his resignation. He will be relieved from the company on June 26.
In a stock exchange filing, One 97 Communications stated that 'nearly all agreements between the company and PPBL have been terminated', and the board of Paytm Payments Bank has been reconstituted with five independent directors, including an Independent Chairperson.
According to One 97 Communications, the company continues to collaborate with banking partners so that merchant acquiring and UPI services can be enhanced.
Vijay Shekhar Sharma stepped down from the Board of Paytm Payments Bank to enable the reconstitution of the board, OCL informed the bourses and added, "PPBL has informed us that they will commence the process of appointing a new chairman".
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