Paytm Payments Bank’s MD & CEO Surinder Chawla Quits

One 97 Communications Limited has informed the stock exchange that Surinder Chawla, Managing Director and CEO of its associate entity, Paytm Payments Bank Limited (PPBL), has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects. He will be relieved from PPBL on June 26, 2024.

Surinder Chawla, a Chartered Accountant had joined the PPBL in February 2023. Chawla started his career with Citibank as an Industrial Trainee. Prior to Paytm, he worked with several banks, including RBL Bank as Head-Branch Banking, India; HDFC Bank as Senior Executive Vice President and later became Head-Retail Liabilities Product Group; ABN AMRO Bank N.V. as Head Sales-Credit Cards; and Standard Chartered Bank as Zonal Head-Assets.

On January 31, RBI had directed PPBL to stop accepting fresh deposits, credit transactions or top ups after February 29. The deadline was later extended to March 15, 2024.