Friday, Apr 19 2024 | Time 09:07 Hrs(IST)
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Business Economy


Paytm Chairman steps down; Board reconstituted

New Delhi, Feb 26 (UNI) In a major development, Paytm Payments Bank Chairman has stepped down from his post as also as a board member, within days of the company being charged with violation of regulations.
"One 97 Communications Ltd (OCL) would like to update that its associate Paytm Payment Bank Limited (PPBl) has constituted its Board of Directors with the appointment of ex Central Bank of India Chairman Mr. Srinivasan Sridhar," the company said in a statement on Monday.
OCL supports PPBL's move of opting for a Board with only independent and executive directors by removing its nominees, it said.
The company has been separately informed that chairman Vijay Shekhar Sharma has also resigned from the Board of PPBL to enable this transition.
In a disclosure to stock exchanges, PPBL informed that they will commence the process of appointing a new chairman. UNI SKB SSP
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