Paytm Payments Bank Crisis: MD, CEO Surinder Chawla Resigns, Due to Personal Reasons

Paytm Payments Bank's Managing Director and CEO Surinder Chawla has tendered his resignation on April 8, according to a stock exchange filing. Chawla is stepping down citing personal reasons and to explore better career prospects. He will be relieved from PPBL on June 26, the release stated.

Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI."Surinder Chawla, Managing Director and CEO of PPBL has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects. He will be relieved from PPBL w.e.f. close of business hours on June 26, 2024, unless changed by mutual consent," One97 Communications, Paytm brand owner, said in a regulatory filing. Chawla had joined PPBL in January last year.Before joining PPBL, Chawla was working with RBL Bank, where he served as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels.