New Delhi. Paytm Payments Bank, which was already facing problems due to various restrictions of the Reserve Bank of India, has now suffered another blow. The company’s MD and CEO Surinder Chawla has resigned. Surinder Chawla’s resignation will be effective from June 26. Surinder Chawla’s resignation has been confirmed by Vijay Shekhar Sharma-owned company One97 Communications, under which Paytm is operated. On behalf of the company, it has been said that Surinder Chawla resigned on Monday, April 8, for personal reasons and to explore better career prospects. He will be relieved from the Company after completion of working hours on June 26, 2024, unless there is any change by mutual consent.
Earlier on January 31, the Reserve Bank had imposed major business restrictions on Paytm Payment Bank Limited. RBI had barred payments banks from taking fresh deposits and doing credit transactions after February 29. After this, on 16 February this deadline was extended till 15 March. Following these actions, company promoter Vijay Shekhar Sharma had resigned from the board of Paytm Payments Bank Ltd last month. After this the board of the bank was reconstituted. The new board includes former Central Bank of India Chairman Srinivasan Sridhar, former Bank of Baroda executive director Ashok Kumar Garg and two retired IAS officers.
Surinder Chawla took charge of Paytm Payments Bank on January 9, 2023. Chawla’s appointment was approved for 3 years by the Reserve Bank of India. Survinder has previously served in Standard Chartered Bank, HDFC Bank, RBL and ABN AMRO Bank. He has vast experience in the banking sector.