Surinder Chawla appointed as MD & CEO of Paytm Payments Bank

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Paytm Payments Bank Limited (PPBL) has appointed veteran banker Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO).

An overview of the news

• The appointment has been approved by the Reserve Bank of India for a period of three years.

• Chawla will replace Paytm Payments Bank CEO Satish Kumar Gupta, who retires in October 2022, with Deepender Singh Rathore serving as the interim CEO.

• Prior to joining PPBL, Chawla was working with RBL Bank, where he served as Head of Branch Banking and focused on expanding CASA base, fee revenue and cross-selling across channels.

• This Indian domestic bank was under regulatory scrutiny for a while.

• RBI barred it from taking on new customers in March 2022.

• The action was based on some material supervisory concerns found in the bank, according to the central bank.

• Chawla has had an illustrious career spanning over 28 years in Retail Banking in reputed institutions like HDFC Bank, RBL Bank, ABN AMRO Bank and Standard Chartered Bank.

Paytm founder and CEO - Vijay Shekhar Sharma 

Paytm founded- August 2010 (Noida)