Key Points
Crisis-laden Paytm Payments Bank (PPBL) has seen at least two independent directors resigning from its board as it battles to assuage regulatory concerns over its operations after February 29 to retain consumers, merchants, and other stakeholders...
People aware of banking rules said the payments bank needed to have more independent directors than executive directors on its board, which led to Kumars involvement in a board meeting through special invite...
With the latest exits, PPBLs board consists of three independent directors including veteran banker Arvind Kumar Jain who was the former executive director, Punjab & Sind Bank; former Accenture managing director Pankaj Vaish, and former Department for Promotion of Industry and Internal Trade (DPIIT) secretary, Ramesh Abhishek...
Paytm founder Vijay Shekhar Sharma and PPBL managing director and chief, Surinder Chawla, are other members of the Noida-based payments bank board...
Last week, the Noida-based payments and financial services provider found itself in a difficult spot after its associate entity Paytm Payments Bank Ltd (PPBL) was barred by the RBI from accepting any fresh deposits or providing banking services after February 29...
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