Paytm Payments Bank reconstitutes its board

Paytm parent One 97 Communications announced the reconstitution of the board of its payments unit that is currently embroiled in regulatory issues.

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This comes as Paytm founder Vijay Shekhar Sharma stepped down from the board of the payments bank unit.

Source: ANI

The new board now constitutes banking and administrative experts.

Source: Paytm

PPBL has appointed ex-Central Bank of India Chairman Srinivasan Sridhar and retired IAS officer Debendranath Sarangi to the board as independent directors.

Source: Paytm/Facebook

The company has also appointed former Executive Director of Bank of Baroda Ashok Kumar Garg and retired IAS Rajni Sekhri Sibal to its board.

Source: Paytm

Moreover, the company board has former Executive Director of Punjab & Sind Bank Arvind Kumar Jain as Independent Director and Surinder Chawla, MD & CEO at Paytm Payments Bank.

Source: Paytm