Deependra Singh Rathore named as Interim CEO of Paytm Payments Bank

Paytm Payments Bank has appointed Deependra Singh Rathore as the interim Chief Executive Officer (CEO), in addition to his role as Chief Product & Technology Officer. CEO Satish Gupta is retiring this month. The bank will announce the new full-time CEO after receiving regulatory approvals. The bank has also appointed Sunil Chander Sharma, a former IRS officer as Chief Operating Officer (COO). As the COO, he would oversee the functions of customer support, retail operations, legal and Law Enforcement Agencies (LEA) and Human Resources and Administration.

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About the Paytm Payments Bank:

• Paytm Payments Bank (PPBL) is an Indian payments bank, founded in 2015 and headquartered in Noida. In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. In 2021, the bank received a scheduled bank status from the RBI.
• Vijay Shekhar Sharma holds 51 per cent in the entity with One97 Communications Limited holding 49 per cent. Vijay Shekhar Sharma is the promoter of Paytm Payments Bank, and One97 Communications Limited is not categorized as one of its promoters.
• Paytm (acronym for “pay through mobile”) is an Indian digital payments and financial services company, based in Noida. It was founded in 2010 by Vijay Shekhar Sharma under One97 Communications.
• Paytm’s parent company, One97 Communications Limited, got listed on the Indian stock exchanges on November 18, 2021 after an initial public offering, which was the largest in India at the time. For the fiscal year 2021-22, Paytm’s gross merchandise value (GMV) was reported to be ₹8,500 billion (US$110 billion).

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