Paytm Payments Bank, on Wednesday announced that it has appointed Satish Kumar Gupta as its CEO. Gupta has previously held leadership positions at State Bank of India and National Payments Corporation of India (NPCL).
Paytm Payments Bank was without a CEO since August, with former CEO Renu Satti stepping down from the post to take over the role of COO at One97 Communications.
Shinjini Kumar was the CEO of the payments bank prior to Renu Satti, with Kumar leaving the company in May 2017, according to a post by Livemint.
As per RBI guidelines, chief executives of payments banks should be bankers and Paytm Payments Bank is relying on the vast experience which Satish Kumar Gupta carries. Mr. Gupta has over 3 decades of leadership experience.
Paytm Payments Bank, which was launched in May 2017 has faced hurdles since its launch, with the RBI directing it to stop onboarding new customers (as per a report by Livemint). A number of other payments banks were also asked to stop onboarding customers, with the RBI recently lifting the ban on Fino Payments Bank.
Vijay Shekhar Sharma owns a 51 per cent stake in the payments bank, with One97 Communications owning the rest.
Sources: Livemint, Times of India, Economic Times