Paytm Payments Bank Ltd. (PPBL) Managing Director & CEO Surinder Chawla, tendered his resignation on Monday “on account of personal reasons and to explore better career prospects,” One 97 Communications Ltd. (OCL), the promoter of the bank said in a filing with the exchanges on Tuesday.
“He will be relieved from PPBL w.e.f. close of business hours on June 26, 2024, unless changed by mutual consent,” the company added in the statement.
“As informed earlier, nearly all agreements between the company and PPBL have been terminated as per our disclosure on March 1, 2024, and the board of PPBL has been reconstituted with five independent directors including an Independent chairperson, and no nominees from the company, as per our disclosure on February 26, 2024,” it further said. PPBL said it had been collaborating with banking partners to enhance its merchant acquiring and UPI services.
