Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI. "Surinder Chawla, managing director and CEO of PPBL, has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects.
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Many a time, we let go of our aspirations because it seems difficult to achieve them at one go.
Digitisation is changing the banking business. This shift has resulted in a change in banking job profiles.
Harjit Singh Chhabra, head, Sadar Nishkarm Welfare Association, estimated that losses could go up to hundreds of crores.
Union Environment Minister Harsh Vardhan welcomed the apex court's order and urged people to abide by the SC guidelines and 'give green Diwali and our environment a chance'
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