New Delhi, April 9: Surinder Chawla, CEO and MD of Paytm Funds Financial institution, has stepped down from his place, the corporate mentioned in a regulatory submitting on Tuesday. One 97 Communications Restricted mentioned that it has been knowledgeable by its affiliate entity, Paytm Funds Financial institution Restricted (PPBL), that “Surinder Chawla, Managing Director and CEO of PPBL has tendered his resignation on April 8, 2024, on account of private causes and to discover higher profession prospects”. Paytm Funds Financial institution CEO MD and CEO Surinder Chawla Resigns Amid Agency Going through Prohibitory Motion From RBI
He will probably be relieved from PPBL on June 26, “except modified by mutual consent”. “As knowledgeable earlier, practically all agreements between the corporate and PPBL have been terminated as per our disclosure on March 1, 2024, and the board of PPBL has been reconstituted with 5 impartial administrators together with an Impartial Chairperson, and no nominees from the Firm,” mentioned the Paytm guardian firm. BYJU’s Wage Replace: Embattled Edtech Main Begins Disbursing March Salaries to 1000’s of Staff After Second Successive Delay
The corporate mentioned it continues to collaborate with banking companions to “improve our service provider buying and UPI companies”. Paytm Funds Financial institution hasn’t but disclosed who will exchange Chawla, who joined the Paytm Funds Financial institution in February final yr. In February, Paytm’s Founder and CEO, Vijay Shekhar Sharma, stepped down as Non-Govt Chairman and Board Member of PPBL, after the Reserve Financial institution of India’s (RBI) ban on the financial institution’s operations.
