The PPBL chairman, Vijay Shekhar Sharma, resigns, and the bank's board is reorganized.
Paytm Payments Bank Board Reorganization New Delhi, Feb. 26 (PTI): Paytm Payments Bank Board Reorganization The board of Paytm Payments Bank Limited (PPBL) has been reorganized following the resignation of Vijay Shekhar Sharma as the bank's part-time non-executive chairman. Since March 15, the Reserve Bank has prohibited the PPBL from receiving deposits or credits from any client due to the bank's ongoing serious supervisory issues and chronic non-compliances. Paytm Payments Bank Board Reorganization Paytm said in a regulatory filing on Monday that PPBL had reconstituted its Board of Directors with the appointment of former Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Bank of Baroda Executive Director Ashok Kumar Garg, and former IAS officer Rajni Sekhri Sibal. It stated that these individuals had just become Independent Directors. The Paytm brand is owned by One 97 Communications Ltd
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