Arun Kumar Bansal Appointed MD & CEO of Paytm Payments Bank

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Arun Kumar Bansal has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Paytm Payments Bank Limited (PPBL).

An Overview of the News

• His appointment follows the resignation of Surinder Chawla in April 2024.

• Chawla's departure from PPBL was effective from June 26, 2024.

• The Reserve Bank of India (RBI) approved Bansal's appointment on June 20, 2024.

Background of Arun Kumar Bansal:

• Bansal previously served as the Executive Director (ED) and head of treasury (on contract), designated as Senior Management Personnel (SMP) at IDBI Bank Limited.

• He resigned from IDBI Bank with effect from June 25, 2024. Bansal began his career at Indian Bank in 1991.

• From 2020 to 2022, he held the positions of Chief Financial Officer (CFO) and General Manager (GM) at Indian Bank.

• He also served as a Non-Executive Director at Indbank Merchant Banking Services Limited from 2020 to 2022.Bansal joined IDBI Bank in June 2022.

• He is associated with the Financial Planning Standards Board (FPSB) as a Certified Financial Planner (CFP).

Paytm Payments Bank:-

• Founded in 2017, Paytm Payments Bank is headquartered in Noida, India.

• It received its payments bank license from the Reserve Bank of India in 2017 and launched operations in November that year.

• In 2021, it was granted scheduled bank status by the RBI.

• Founder: Vijay Shekhar Sharma