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Paytm Payments Bank MD and CEO Surinder Chawla resigns, will be relieved on this date
PPBL: Paytm's parent company One97 Communication informed in a BSE filing on Tuesday that Surinder Chawla, Managing Director and CEO of its subsidiary Paytm Payments Bank Limited (PPBL), has resigned on April 8, 2024, for personal reasons and better career prospects. Resigned to find out.
Paytm Payments Bank Managing Director and CEO Surinder Chawla has offered to resign from his post, the company said in a stock exchange filing on April 8. According to the company, Chawla has resigned citing personal reasons and to seek better career prospects. The company said he would be relieved from PPBL on June 26.
Paytm's parent company One97 Communication said in a BSE filing on Tuesday, "The company wishes to update that it has been informed by its associate entity Paytm Payments Bank Limited (PPBL) at 5.23 pm on April 8, 2024, that the Managing Director of PPBL and "CEO Surinder Chawla has resigned on April 8, 2024 due to personal reasons and to explore better career opportunities."
The company further said that as per our disclosure dated March 1, 2024, almost all the agreements between the company and PPBL have been terminated. The Board of PPBL has been reconstituted with five independent directors including an independent Chairman. As per the company's disclosure dated February 26, 2024, there is no nominee from One97 Communication on the new board.
