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Paytm Payments CEO Nakul Jain resigns
Economic Times
·
5m ago
Medial
Nakul Jain, CEO of Paytm Payments Services Limited, has resigned to pursue an entrepreneurial venture. Paytm is searching for a replacement and will announce it soon. Meanwhile, PPSL focuses on growth and business objectives. The company awaits the Reserve Bank of India's approval for its payment aggregator license after initially being rejected due to FDI non-compliance. Paytm reapplied following government approval for downstream investment. PPSL continues serving existing online merchants with payment services.
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Paytm Payments Bank CEO Surinder Chawla resigns
VCCircle
·
1y ago
Medial
Surinder Chawla has resigned from his position as the CEO and Managing Director of Paytm Payments Bank in India, citing personal reasons. His resignation is effective from June 26, and a successor has not yet been announced. This announcement follows Vijay Shekhar Sharma stepping down as non-executive chairman of Paytm Payments Bank. The Reserve Bank of India had previously ordered Paytm Payments Bank to wind down its operations due to compliance issues, but the company was granted a third-party app license to continue facilitating payments after its banking unit ceased operations.
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Paytm Payments Bank CEO Surinder Chawla resigns
Economic Times
·
1y ago
Medial
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.
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Surinder Chawla resigns as CEO of Paytm Payments Bank
Inshorts
·
1y ago
Medial
Surinder Chawla has resigned from the post of Managing Director and CEO at Paytm Payments Bank Limited (PPBL), citing personal reasons and career advancement. His resignation will be effective on June 26, 2024. Chawla's exit follows Praveen Sharma's resignation as Senior Vice President at Paytm last month, citing his interest in pursuing other opportunities.
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Paytm Senior VP Praveen Sharma Resigns To Pursue ‘Other Opportunities’
Inc42
·
1y ago
Medial
Praveen Sharma, senior vice president of business at Paytm's parent company One 97 Communications, has resigned after over four years. His resignation comes shortly after Paytm founder Vijay Shekhar Sharma stepped down from the board of Paytm Payments Bank. Paytm is also planning to transfer its point of sale (PoS) terminals to RBL Bank. In January, the RBI issued a directive that prevented Paytm Payments Bank from carrying out certain transactions. Since then, Paytm shares have plummeted and several mutual funds have divested their holdings in the company.
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Vijay Shekhar Sharma resigns as chairman of Paytm Payments Bank
Livemint
·
1y ago
Medial
Vijay Shekhar Sharma, the founder of Paytm, has resigned from the board of Paytm Payments Bank. One97 Communications, the parent company of Paytm, announced the resignation and the company's plans to appoint a new chairman. Additionally, several new independent directors have joined the board of Paytm Payments Bank, including former chairman of Central Bank of India, Srinivasan Sridhar, and retired IAS officer Debendranath Sarangi. The new directors are expected to contribute their expertise to enhance governance structures and operational standards at the bank.
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Vijay Shekhar Sharma resigns from Paytm Payments Bank amid board revamp
Livemint
·
1y ago
Medial
Vijay Shekhar Sharma, the founder of Paytm, has stepped down as the non-executive chairman of Paytm Payments Bank in response to regulatory restrictions. Paytm Payments Bank was barred by the Reserve Bank of India from accepting customer deposits due to non-compliance with regulations. Sharma's resignation aims to facilitate a smooth transition for the bank. Paytm has made additional changes to its board, appointing new independent directors and withdrawing its nominee. The company has also formed a group advisory committee to address regulatory concerns.
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Vijay Shekhar Sharma resigns from board of Paytm Payments Bank
Economic Times
·
1y ago
Medial
Vijay Shekhar Sharma, founder of Paytm, has resigned from the board of Paytm Payments Bank (PPBL). PPBL has appointed Srinivasan Sridhar, Debendranath Sarangi, Ashok Kumar Garg, and Rajni Sekhri Sibal as independent directors. PPBL will begin the process of selecting a new chairman. Sharma's resignation comes amid regulatory and compliance pressures on the fintech firm. The Reserve Bank of India had raised compliance concerns, leading to an order on January 31 that affected the banking operations of PPBL.
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Paytm Payments Bank CEO & MD Surinder Chawla Steps Down
Inc42
·
1y ago
Medial
Paytm Payments Bank CEO and MD, Surinder Chawla, has resigned citing personal reasons and a desire to explore better career prospects. The company has not yet announced a replacement for Chawla. Paytm Payments Bank has been facing regulatory challenges recently and has reconstituted its board with five independent directors. Paytm founder and CEO, Vijay Shekhar Sharma, had also stepped down from the board earlier. The Reserve Bank of India had barred Paytm Payments Bank from certain activities due to flaws in its internal detection mechanisms and high user complaints.
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Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over
Entrackr
·
2m ago
Medial
Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. Brainbees Solutions Limited, the parent company of FirstCry, has announced a key leadership change at its subsidiary, Globalbees Brands Private Limited. Nitin Agarwal, who served as the CEO and director of Globalbees Brands, has stepped down from his role due to personal reasons. According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. He will, however, support transition activities until May 23, 2025. Stepping into the role is Anuj Jain, who has been appointed as the new CEO of Globalbees Brands and designated as a senior management personnel of the company. Jain currently serves as the chief business officer (CBO) of FirstCry’s pre-school segment and senior vice president of marketing. A part of the company’s leadership team since July 2012, Jain brings over 23 years of industry experience, having previously worked at ITC and L'Oréal. E-commerce roll-up firm GlobalBees last raised $18 million in a debt round from Avendus in February 2024. To date, the company has secured over $270 million in funding, including a $111 million Series B round in December 2021, which propelled it to unicorn status. In FY24, the FirstCry group recorded a 15% year-on-year increase in revenue from operations to Rs 6,481 crore, with GlobalBees contributing Rs 1,209 crore to the group’s total revenue.
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Vijay Shekhar Sharma resigns as Paytm Payments Bank Chairman; bank's board reconstituted
Economic Times
·
1y ago
Medial
Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank (PPBL), as announced by parent company One 97 Communication. In his place, four independent directors have been appointed: Srinivasan Sridhar, Debendranath Sarangi, Ashok Kumar Garg, and Rajni Sekhri Sibal.
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