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The Reserve Bank of India (RBI) has accepted the hiring of seasoned banker Surinder Chawla as the new Managing Director and Chief Executive Officer of Paytm Payments Bank, One 97 Communications, the parent company of Paytm, announced on January 8th (PPBL). The three-year appointment has been given the go-ahead.
The business stated in a statement that Chawla has a “illustrious career in retail banking” that has spanned over 28 years and includes prestigious organisations like HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered Bank.
The most recent hiring, according to Paytm, is a part of the bank’s continued efforts to build out its leadership team, improve its technological prowess, and promote financial inclusion in the nation.
It went on to say that Chawla’s expertise will greatly benefit PPBL as it continues to provide clients with cutting-edge goods and services.
Commenting on the appointment approval, Vijay Shekhar Sharma, Chairman of Paytm Payments Bank Board, said, “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. His rich experience in banking and deep understanding of the Indian financial landscape will bring the necessary expertise to further empower Paytm Payments Bank’s mission.”
On his appointment Chawla added, “As we continue on our journey to provide accessible, convenient banking options to all of our customers with the highest standards of compliance and operational excellence, I am excited to contribute to our shared mission of driving large-scale financial inclusion.”
Prior to joining Paytm, Chawla served as Head of Branch Banking at RBL Bank, where she concentrated on growing the CASA base, generating fee income, and cross-selling across channels. According to the corporate statement, he is a Chartered Accountant on the merit list.
In India, the Paytm Payments Bank has the highest scale for mobile transactions. With its mobile-only savings accounts, current accounts, fixed deposits with partner banks, and payment instruments including wallets, UPI, and FASTag among other services, the bank gives Indians a digital payment and banking experience.
