Paytm Payments Bank's CEO Surinder Chawla Steps Down

Paytm Payments Bank's managing director and CEO, Surinder Chawla, has resigned from his position on April 8.

Paytm Payments Bank (PPBL), in a stock exchange filing, said that it has been informed by its associate entity Paytm Payments Bank about Chawla’s resignation, citing 'personal reasons and to explore better career prospects'. He will be relieved from PPBL on June 26, the release states.

One 97 Communications stated again in the release to the stock exchanges that 'nearly all agreements between the company and PPBL have been terminated', and the board of Paytm Payments Bank has been reconstituted with five independent directors, including an Independent chairperson and no nominees from the company.

One 97 Communications said it continues to collaborate with banking partners to enhance merchant acquiring and UPI services.

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