Paytm Payments Bank (PPBL) has announced the reconstitution of its board with a focus on enhancing governance and compliance amidst ongoing regulatory considerations. This strategic move comes as the company aims to strengthen its operational standards and reinforce its commitment to best practices.
The new board of PPBL comprises esteemed banking and administrative experts, bringing a wealth of experience and diverse perspectives to guide the bank through its next phase of growth. These changes signal a pivotal moment for PPBL as it aligns its leadership with independent and executive directors, fostering a robust framework for the future.
The newly appointed independent directors are:
Srinivasan Sridhar: With over 40 years of experience in banking, including leadership roles at Export Import Bank of India, Central Bank of India, and National Housing Bank, Srinivasan Sridhar joins the board as an Independent Director. Currently serving as an independent director at Jubilant Pharmova, his expertise will be invaluable.
Debendranath Sarangi: A veteran in public administration and corporate governance, Debendranath Sarangi brings his vast experience as a retired IAS officer (1977 batch) of Tamil Nadu cadre. He currently serves as an independent director on the boards of several prominent companies.
Ashok Kumar Garg: With 39 years of banking experience, including roles as Whole Time Director at Bank of Baroda and Managing Director of various subsidiaries, Ashok Kumar Garg joins as an Independent Director.
Rajni Sekhri Sibal: A retired IAS officer of Haryana cadre (1986 batch) with 38 years of administrative experience, Rajni Sekhri Sibal joins as an Independent Director.
These new appointments are in addition to existing members of the board, including Arvind Kumar Jain, a former Executive Director of Punjab & Sind Bank. He continues to serve as an Independent Director, providing valuable insights from his banking background.
Surinder Chawla, as the Managing Director & CEO at Paytm Payments Bank, he leads the executive team and welcomes the new board members. He expressed confidence that their distinguished expertise will be pivotal in guiding PPBL toward enhancing governance structures and operational standards.
In a statement, Surinder Chawla, MD & CEO of Paytm Payments Bank, commented, ‘We are pleased to welcome our new board members, each bringing a wealth of experience and knowledge. Their diverse perspectives and deep expertise will play a crucial role in guiding us towards further solidifying our dedication to compliance and best practices.’
The company acknowledges the resignation of Vijay Shekhar Sharma from the board of Paytm Payments Bank to enable this transition. PPBL has informed that they will commence the process of appointing a new chairman.
