Independent Directors expressed concern over Paytm Payments Bank
During a period when the position of Corporate Boards is once again being questioned, Independent Directors on the Paytm Payments Bank Board have suggested that red flags were indeed raised regarding regulatory matters, albeit potentially after the optimal time.
As Independent Directors, we questioned the Reserve Bank of India (RBI) and monitored its responses. Compliances have been changed in a number of ways. On the condition of anonymity, one of the independent directors told Business Standard that it was not enough.
Paytm has confirmed that one of the Independent Director Manju Agarwal, a former Dy MD of SBI, has resigned on February 1 due to personal commitments.