Beleaguered fintech company Paytm on Tuesday announced that Surinder Chawla has resigned as the chief executive officer of its banking unit Paytm Payments Bank “on account of personal reasons”.
Chawla’s resignation comes amid Paytm Payments Bank facing prohibitory action from the Reserve Bank of India.
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“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, Paytm brand owner, said in a regulatory filing.
Chawla was appointed as MD and CEO of the payments bank in January 2023 after the company received a nod from the RBI. Before joining PPBL, Chawla was working with RBL Bank, where he served as Head – Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels.
This is a developing story. Please check back for updates
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