Paytm goes live with onboarding of new UPI users
This comes after the company received approval from the National Payments Corporation of India (NPCI) on October 22, to onboard new UPI users.
As the country moves towards digitalization of the whole banking sector and paperless transactions, Paytm Payments Bank is strengthening its leadership with seasoned executives from the banking and financial services industry.
The bank has appointed Deependra Singh Rathore as the interim chief executive officer (CEO), in addition to his role as chief product & technology officer, according to sources.
It will announce the name of the new full-time CEO after receiving regulatory approvals. Satish Gupta, who was the bank’s CEO, is set to retire in October.
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Paytm Payments Bank spokesperson said, “We are focused on bringing the best of technology-driven banking to drive financial inclusion. As we continue our journey, we are excited to strengthen our leadership team and have seasoned experts from banking and financial services join us. Paytm Payments Bank remains committed to creating large-scale impact with compliance and operational excellence.”
With technology-driven solutions, the bank is solving at scale to take on the opportunities in the digital banking sector in India.
Strengthening its operations for scale, it has appointed Sunil Chander Sharma, a former IRS officer as a chief operating officer (COO). As the COO, he would oversee the functions of customer support, retail operations, legal and Law Enforcement Agencies (LEA), and Human Resources and Administration.
This is happening at the right time because on Sunday, Prime Minister Narendra Modi had just launched 75 digital banking units across states and this means the more banking units the country has, the more transactions will take place.
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