Banking regulator, Reserve Bank of India (RBI) has given a nod to Paytm Payments Bank for the appointment of Surinder Chawla as its Managing Director and CEO, according to the company.
The RBI, however, continues to bar Paytm Payments Bank from on-boarding new customers.
"Paytm Payments Bank Limited (PPBL) has appointed veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the Reserve Bank of India for a period of three years," the statement said.
Prior joining Paytm Payments Bank, he was associated with RBL Bank as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels.
"I am pleased to welcome Surinder to Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India," PPBL Chairman Vijay Shekhar Sharma said.
