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Meta India appoints Arun Srinivas as managing director

EntrackrEntrackr · 1m ago
Meta India appoints Arun Srinivas as managing director
Medial

Meta India appoints Arun Srinivas as managing director Arun Srinivas has been appointed as the managing director and head for Meta in India. Srinivas was the director and head of the ads business for Meta India since 2022. In this role, Srinivas oversaw business strategy and revenue growth for India across all Meta platforms and for all businesses. He was part of the India leadership team and focused on strategic revenue priorities such as AI, Reels, and Messaging. This comes after Meta expanded the role of its India vice president, Sandhya Devanathan, who now also leads the tech giant's Southeast Asia business. The development was announced by Meta’s Asia Pacific head, Dan Neary. According to Meta India, Srinivas will transition to his new role from July 1, 2025, and will continue to report to Sandhya Devanathan. Srinivas was previously Ola’s chief operating officer and global chief marketing officer. He left the company in 2020, a year after he joined. A former vice president at Unilever, Srinivas had joined Ola after a stint at private equity firm WestBridge Capital, where he led its investments in the consumer vertical. His appointment comes at a time when Meta and Indian authorities have locked horns over allegations of the tech firm's anti-competitive practices in the country. In November, the Competition Commission of India (CCI) fined the company over antitrust violations and restricted the popular messaging platform WhatsApp from sharing user data with other Meta-owned applications for advertising purposes for a period of five years.

Vijay Shekhar Sharma resigns from Paytm Payments Bank board

EntrackrEntrackr · 1y ago
Vijay Shekhar Sharma resigns from Paytm Payments Bank board
Medial

Vijay Shekhar Sharma has stepped down from his position as part-time non-executive chairman and board member of Paytm Payments Bank Limited (PPBL), as per a filing on the BSE by One97 Communications Ltd (OCL). The company also announced that it has reconstituted its board of directors with the appointment of former Central Bank of India chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former executive director of Bank of Baroda Ashok Kumar Garg, and retired IAS Rajni Sekhri Sibal. They had recently joined the board as independent directors, the company added. “OCL supports PPBL’s move of opting for a board with only independent and executive directors by removing its nominee… PPBL has informed us that they will commence the process of appointing a new chairman,” it added in the disclosure [pdf]. The move comes weeks after the Reserve Bank of India (RBI) imposed a set of business restrictions on Paytm Payments Bank over non-compliance and regulatory concerns. The business restrictions are set to impact Paytm’s different business verticals related to the payments bank. Also Read: RBI’s additional steps aim to protect ‘@paytm’ users, merchants Since then, the central bank has made a few additional steps to safeguard affected customers’ interests, including granting temporary relaxations on the restrictions. The RBI has extended the earlier stipulated timeline from February 29, 2024, to March 15, 2024, for further deposits, credit transactions, or top-ups in customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc. The same timeline extension has been given to banking services such as fund transfers, BBPOU, and UPI facilities. Recently, RBI deputy governor Swaminathan J clarified that the crackdown on Paytm’s payments bank was not sudden but followed several conversations and giving the company ample time to take corrective measures. “When constructive engagement doesn’t work or when the regulated entity does not take effective action, we go for imposing business restrictions,” Das was quoted as saying.

Eternal’s Food Delivery COO Rinshul Chandra resigns

EntrackrEntrackr · 3m ago
Eternal’s Food Delivery COO Rinshul Chandra resigns
Medial

Eternal’s Food Delivery COO Rinshul Chandra resigns Eternal Limited (Zomato) has announced the resignation of Rinshul Chandra, Chief Operating Officer of its Food Ordering and Delivery business. Chandra, a key member of the company’s senior management, tendered his resignation on April 5 and will officially step down on April 7. According to the company’s filing with stock exchanges, Chandra is stepping down to pursue new opportunities and passions aligned with his evolving personal and professional goals​. Chandra joined Zomato (now Eternal) in 2018 as Assistant Vice President of Product and steadily rose through the ranks, serving as Vice President, Head of Business, and eventually taking on the role of Chief Operating Officer for the food delivery segment. Eternal Limited has not yet announced a replacement for Chandra. The development comes shortly after mass layoffs at Zomato. According to media reports, the company let go of around 600 customer support associates within a year of hiring them. Over the past year, Zomato has seen several key departures. Hemal Jain, who served as Global Head of Finance and CFO of Hyperpure, stepped down. Akriti Chopra, the company’s co-founder and Chief People Officer, also left. In October last year, Gunjan Soni resigned from her position as an Independent Director. Zomato recently rebranded itself to Eternal, which will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure.

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