look news india
New Delhi, 09 April (HS). Surinder Chawla, Managing Director (MD) and Chief Executive Officer (CEO) of Paytm Payments Bank (PPBL), a payments company surrounded by all-round difficulties, has resigned from his post. Chawla has tendered his resignation due to personal reasons. They will be released from PPBL on June 26.
One97 Communications informed the stock exchange about Surinder Chawla's resignation in a regulatory filing on Tuesday. The company said that PPBL MD and CEO Surinder Chawla has tendered his resignation with effect from April 8, 2024, for personal reasons and to explore better career prospects. He will be released from PPBL after working hours on June 26, 2024, subject to any change by mutual consent.
According to One97 Communications, the company that operates the Paytm brand, Chawla had joined PPBL only in January last year, but during his tenure, PPBL recently came under the strict instructions of RBI due to repeated violations of regulatory standards. It is noteworthy that Chawla has resigned at a time when Paytm Payments Bank Limited is facing strict prohibitory action from the banking regulator Reserve Bank of India (RBI).