Paytm Payments Bank Limited Chairman Vijay Shekhar Sharma resigns, reconstitution of PPBL board – Dainik Savera Times

Mumbai: Mr. Vijay Shekhar Sharma has resigned from the post of Chairman of Paytm Payments Bank Limited (PPBL) and the Board of Directors of the bank has been reconstituted. PPBL informed BSE today that One 97 Communications Limited (OCL) withdrew its nominee from the Paytm Payments Bank Board and Vijay Shekhar Sharma resigned as part-time non-executive chairman and board member.

The future business of PPBL will be led by a reconstituted Board. OCL’s associate, Paytm Payments Bank Ltd (PPBL) has inducted former Central Bank of India Chairman Shri Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Bank of Baroda Executive Director Ashok Kumar Garg and retired IAS officer Rajni Sekhri Sibal on the board. Has gone.

He has recently joined as an Independent Director. The statement said OCL supports PPBL’s move to elect a board consisting only of independent and executive directors by removing its nominee. Separately, the company informed that Vijay Shekhar Sharma has also resigned from the board of Paytm Payments Bank to enable this change.

Now the process of appointing a new president will be started. Surinder Chawla, MD & CEO, PPBL, said, “We welcome the appointment of Mr. Srinivasan Sridhar, Mr. Debendranath Sarangi, Mr. Ashok Kumar Garg and the addition of Mrs. Rajni Sekhri Sibal to the Board, an important step in PPBL’s journey. His unique expertise will be instrumental in guiding us towards enhancing our governance structures and operational standards, further strengthening our dedication to compliance and best practices.

Mr. Sridhar said, “I am dedicated to utilizing my extensive banking expertise to help the Bank expand its range of compliance services. It is my aim to ensure that PPBL becomes a role model of regulatory compliance, setting new benchmarks in delivering exceptional value to stakeholders, in strict adherence to the regulatory framework and best practices.”