The announcement comes weeks after RBI barred Paytm Payments Bank from receiving deposits and credits from customers after March 15 for persistent non-compliance and continued material supervisory concerns in the bank.
Paytm founder Vijay Shekhar Sharma on Monday resigned as Paytm Payments Bank Chairman ahead of March 15 deadline set by the Reserve Bank of India (RBI) to accept further credits into its customer accounts. Additionally, One 97 Communications Ltd (OCL), the parent firm of Paytm, also announced that Paytm Payments Bank Limited (PPBL) has reconstituted its board.
Vijay Shekhar Sharma was the part-time non-executive Chairman of Paytm Payments Bank Limited.