Digital finance company Paytm Payments Bank (PPBL) said Surinder Chawla, Chief Executive Officer of the company resigned on Monday, on account of personal reasons and to explore promising professional prospects.
The company said Chawla’s resignation as Executive Chief will take effect on June 26, at the latest, unless changed by mutual consent in a regulatory filing.
Chawla joined the company as a CEO in 2023 and has been with the company for over a year. Before he joined Paytm Payments Bank, he served as Branch Banking Head of India at RBL Bank for nearly a decade.
The exiting CEO has also worked for prestigious banks including RBL Bank, HDFC Bank, ABN AMRO Bank, Standard Chartered Bank, and Citibank. Chawla has worked in the field of retail banking for nearly three decades.
In March, One 97 Communications Limited board agreed to discontinue various inter-company agreements with the bank as well as introduced additional measures to strengthen its approach towards independent operations of the bank.
Paytm Payments Bank is a mobile bank with zero balance-zero digital transaction charge accounts. It was founded in 2017 and is headquartered in Noida, Uttar Pradesh. Vijay Shekhar Sharma, Founder and CEO of Paytm owns a majority stake in the company, with the remaining shares owned by One97 Communications.
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