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News on Medial
Vijay Shekhar Sharma Quits Paytm Payments Bank’s Board
Inc42
·
1y ago
Medial
Paytm founder and CEO, Vijay Shekhar Sharma, has resigned from the board of Paytm Payments Bank as part-time non-executive chairman. Paytm Payments Bank has reconstituted its board and made four new appointments, including former Central Bank of India chairman Srinivasan Sridhar and retired IAS officer Debendranath Sarangi. The company is in the process of appointing a new chairman for the payments bank. Paytm said the new appointments will help enhance governance structures and operational standards.
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Paytm Payments Bank board is independent, Paytm CEO Sharma says
Economic Times
·
1y ago
Medial
Paytm CEO Vijay Shekhar Sharma has stated that the board of Paytm Payments Bank is independent and capable of addressing regulatory concerns. He clarified that he and his company, One97 Communications, have no connection with the bank. The Reserve Bank of India (RBI) had recently ordered Paytm Payments Bank to stop accepting new deposits due to supervisory concerns and non-compliance with rules. Paytm Payments Bank is a subsidiary of One97 Communications, with Sharma holding a 51% stake. In response to the RBI's order, Sharma stepped down as non-executive chairman and board member of the bank.
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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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Paytm Senior VP Praveen Sharma quits to pursue other opportunities
Inshorts
·
1y ago
Medial
Paytm Senior Vice President Praveen Sharma has quit the fintech startup to pursue other opportunities, Paytm said in an exchange filing. Praveen, who tendered his resignation to CEO Vijay Shekhar Sharma on Saturday, will work with Paytm till Sunday (March 31). "I had a wonderful stint here," said Praveen, who has worked at Paytm since September 2019.
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Vijay Shekhar Sharma steps down from Paytm Payments Bank board
TechCrunch
·
1y ago
Medial
Vijay Shekhar Sharma has stepped down from the board of Paytm Payments Bank, following recent regulatory scrutiny and penalties imposed on the troubled financial firm. The bank has reconstituted its board of directors and appointed four new independent directors. Sharma, who owns a majority stake in the bank, has resigned from the board and also stepped down from his part-time non-executive chair role. The Indian central bank is expected to implement severe business restrictions on Paytm Payments Bank from March 15.
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Vijay Shekhar Sharma steps down from Paytm Payments Bank board
Inshorts
·
1y ago
Medial
One97 Communications, the parent company of Paytm, on Monday announced that Vijay Shekhar Sharma has stepped down as the non-executive chairman and board member of Paytm Payments Bank (PPBL). It further said that PPBL has reconstituted its board with only independent and executive directors. Recently, the RBI imposed curbs on PPBL, which will come into effect after March 15.
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Want to make Paytm an Asia leader — Sharma after RBI action on payments bank
Livemint
·
1y ago
Medial
Paytm founder, Vijay Shekhar Sharma, expressed confidence that the digital payments giant will overcome regulatory setbacks in India this year. The Reserve Bank of India (RBI) recently placed severe restrictions on Paytm Payments Bank due to issues related to accounting and supervisory problems. Sharma resigned from the banking affiliate's board but continues to lead Paytm. He is focused on forging new bank partnerships and expanding into other Asian markets. Additionally, Paytm Payments Bank was fined ₹5.49 crore by the Financial Intelligence Unit for failure to comply with anti-money laundering regulations.
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Vijay Shekhar Sharma, Paytm execs resign from payments bank board
The Arc Web
·
1y ago
Medial
Paytm CEO Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank (PPBL), initiating a complete board overhaul. This move signals Paytm's willingness to relinquish control of the payments bank. Other representatives from Paytm owner One97 Communications (OCL) have also resigned from the board. The new board of PPBL comprises six directors, including MD & CEO Surinder Chawla. This reshuffling follows regulatory restrictions imposed on PPBL by the RBI due to non-compliance and supervisory concerns. Paytm's share price has seen some volatility amid the changes.
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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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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 steps down from Paytm Payments Bank's Board
Inshorts
·
1y ago
Medial
Vijay Shekhar Sharma has stepped down from the Board of Paytm Payments Bank Ltd (PPBL) and will no longer be its part-time non-executive chairman as it reconstitutes its Board. For the newly constituted board, PPBL has opted for only independent and executive directors. The new board members are Srinivasan Sridhar, Debendranath Sarangi, Ashok Kumar Garg, and Rajni Sekhri Sibal.
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