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Paytm Payments Bank CEO Surinder Chawla resigns

Economic Times · 11m

Surinder Chawla, the managing director and CEO of Paytm Payments Bank, has resigned from his position citing personal reasons and better career prospects. This comes after Paytm Payments Bank recently stopped offering basic banking services under the direction of the Reserve Bank of India (RBI). Paytm has also severed all ties with the bank and reconstituted its board. Chawla, who joined the bank in January 2020, will leave on June 26 this year. Paytm now operates as a third-party payment application on Unified Payments Interface (UPI) through partnerships with Yes Bank, HDFC Bank, State Bank of India, and Axis Bank.