One 97 Communications, the parent company of Paytm, has announced the appointment of IRS officer Rajeev Agarwal, ex-Whole Time Member of the Securities and Exchange Board of India (SEBI), as a non-executive independent director on its board. Agarwal takes over from Neeraj Arora, who stepped down citing personal commitments and preoccupation.
In his new role, Rajeev Agarwal will contribute his extensive regulatory and policy-making experience to Paytm. During his tenure at SEBI, Agarwal played a key role in the enhancement of mutual fund policies in 2012 and was pivotal in the integration of the Forward Markets Commission with SEBI in 2015, streamlining regulatory oversight.
With his appointment, Agarwal will no longer serve on Paytm’s Nomination and Remuneration Committee or the Investment Committee, aligning with his independent directorship responsibilities.
