Paytm Payments Bank appoints MD and CEO

Paytm Payments Bank appoints MD and CEO

Paytm Payments Bank has appointed Surinder Chawla as managing director and CEO, Paytm’s parent entity One 97 Communications said in a regulatory filing.

He replaces Deependra Singh Rathore, who was made interim CEO after Satish Kumar Gupta retired in October 2022.

Chawla joins from RBL Bank, where – as head of branch banking – he had focused on expanding its current account, savings account (CASA) base, fee revenue and cross-selling across channels.

The payments bank has received approval from the Reserve Bank of India (RBI) for Chawla’s appointment.

Paytm founder Vijay Shekhar Sharma, who is the chairman of the payments bank, owns 51% stake in the entity, while the listed company One 97 Communications Ltd holds the remaining 49% stake.

“I am pleased to welcome Surinder to Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India,” Sharma said. “His rich experience in banking and deep understanding of the Indian financial landscape will bring the necessary expertise to further empower Paytm Payments Bank’s mission.”