🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Vijay Shekhar Sharma resigns from Paytm Payments Bank board; company appoints 4 new independent directors

IndianStartupNews

IndianStartupNews · 1y ago

Vijay Shekhar Sharma resigns from Paytm Payments Bank board; company appoints 4 new independent directors

Vijay Shekhar Sharma has resigned as the non-executive chairman and board member of Paytm Payments Bank (PPBL). The move is aimed at ensuring a smooth transition for the payments bank. PPBL will now begin the process of appointing a new chairman. This comes after the Reserve Bank of India's decision to prohibit PPBL from acquiring new customer deposits due to repeated non-compliance with regulatory requirements. PPBL has recently appointed four new independent directors and formed a group advisory committee to guide the company's growth and regulatory compliance.

Related News

Vijay Shekhar Sharma resigns as Paytm Payments Bank Chairman; bank's board reconstituted

Economic Times

Economic Times · 1y ago

Vijay Shekhar Sharma resigns as Paytm Payments Bank Chairman; bank's board reconstituted

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.

Vijay Shekhar Sharma resigns as chairman of Paytm Payments Bank

Livemint

Livemint · 1y ago

Vijay Shekhar Sharma resigns as chairman of Paytm Payments Bank

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.

Vijay Shekhar Sharma resigns from Paytm Payments Bank amid board revamp

Livemint

Livemint · 1y ago

Vijay Shekhar Sharma resigns from Paytm Payments Bank amid board revamp

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.

Vijay Shekhar Sharma steps down from Paytm Payments Bank board

TechCrunch · 1y ago

Vijay Shekhar Sharma steps down from Paytm Payments Bank board

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.

Vijay Shekhar Sharma resigns from board of Paytm Payments Bank

Economic Times

Economic Times · 1y ago

Vijay Shekhar Sharma resigns from board of Paytm Payments Bank

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.

Paytm Payments Bank announces board rejig

Livemint

Livemint · 1y ago

Paytm Payments Bank announces board rejig

Paytm Payments Bank Limited has reconstituted its board of directors following regulatory action from the Reserve Bank of India. The new board members, including former Central Bank of India Chairman Srinivasan Sridhar and retired IAS officer Rajni Sekhri Sibal, have been appointed as independent directors. Paytm founder Vijay Shekhar Sharma will step down as the non-executive chairman and board member to facilitate the transition. The new board is expected to enhance governance and operational standards as the payments bank plans to continue its operations despite RBI's directive to wind down.

Vijay Shekhar Sharma steps down from Paytm Payments Bank board

Inshorts · 1y ago

Vijay Shekhar Sharma steps down from Paytm Payments Bank board

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.

Paytm Payments Bank CEO & MD Surinder Chawla Steps Down

Inc42 · 1y ago

Paytm Payments Bank CEO & MD Surinder Chawla Steps Down

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.

Vijay Shekhar Sharma steps down from Paytm Payments Bank's Board

Inshorts · 1y ago

Vijay Shekhar Sharma steps down from Paytm Payments Bank's Board

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.

Paytm’s Vijay Shekhar Sharma discussed exiting board, removing Paytm from bank name

Economic Times

Economic Times · 1y ago

Paytm’s Vijay Shekhar Sharma discussed exiting board, removing Paytm from bank name

Vijay Shekhar Sharma, founder of Paytm, reportedly considered resigning as the part-time chairman of Paytm Payments Bank and removing 'Paytm' from its name due to mounting regulatory and compliance pressures. The discussions took place last year amidst queries from the Reserve Bank of India (RBI) on compliance concerns. Independent directors have also resigned from the bank's board. Paytm Payments Bank was recently barred by the RBI from accepting fresh deposits or providing banking services after February 29.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.