Paytm Payments Bank names Surinder Chawla as MD and CEO with RBI approval

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The Reserve Bank of India (RBI) has approved the appointment of Surinder Chawla, a veteran banker, as the new Managing Director and Chief Executive Officer of One 97 Communications’ subsidiary Paytm Payments Bank for a three-year term. The announcement was made by One 97 Communications, the parent company of Paytm.

Vijay Shekhar Sharma, Chairman of the Paytm Payments Bank Board, welcomed Surinder Chawla to the team and commented on the appointment, saying, “I am pleased to welcome Surinder to Paytm Payments Bank. He will be driving our efforts to deepen financial inclusion in India and offer an exceptional mobile-first banking experience.”

He further added “Chawla’s extensive background in banking and extensive knowledge of the Indian financial sector will bring valuable expertise to Paytm Payments Bank as we strive to empower our customers and further our mission.”

One 97 Communications issued a statement on Sunday announcing the appointment of Surinder Chawla as the new Managing Director and Chief Executive Officer of Paytm Payments Bank Limited (PPBL). With almost three decades of experience in retail banking, Chawla is expected to bring valuable expertise to PPBL as it continues to serve customers with innovative products and services. The statement described Chawla as having an “illustrious career in retail banking.

Before Surinder Chawla, Satish Kumar Gupta was the CEO of Paytm Payments Bank. Gupta resigned in October 2022, and Deependra Singh Rathore served as interim CEO of the payments bank until Chawla’s appointment was approved by the Reserve Bank of India (RBI).

Before joining Paytm, Chawla worked at RBL Bank as the Head of Branch Banking. In this role, he focused on expanding the bank’s current and savings accounts base, increasing fee revenue, and cross-selling through various channels.

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