Paytm Payments Bank appoints Satish Kumar Gupta as MD, CEO

Gupta’s appointment comes a few months after Paytm said Renu Satti had stepped down as the CEO of Paytm Payments Bank to head the new retail segment at the company as chief operating officer

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A few months after Renu Satti stepped down, Paytm Payments Bank appointed Satish Kumar Gupta as its new managing director and CEO. Satish Gupta who comes with 35 years of experience in the banking and payments space earlier served in the leadership roles at SBI and NPCI, the company said in a statement.

Gupta brings over 35 years of leadership experience to Paytm Payments Bank, with prior senior roles at SBI and NPCI, the company said in a statement.

Speaking on the appointment, Paytm’s Founder and CEO Vijay Shekhar Sharma said: “…Gupta comes with over 35 years of experience in the field of Banking & I am extremely delighted to welcome him as Managing Director and Chief Executive Officer of Paytm Payments Bank. His expertise will help us realise the vision that we have set out for our Payments Bank”.

“His (Gupta’s) expertise will help us realize the vision that we have set out for our payments bank,” Vijay Shekhar Sharma added.

Paytm Payments Bank launched in May last year was under scrutiny after the Reserve Bank of India directed the bank to stop enrolling new customers following audit observations.

Paytm is still not onboarding new customers, according to a Paytm spokesperson. “Paytm bank is awaiting RBI confirmation on enrolling new customers,” the spokesperson added.

Other payments banks in the country include Fino Payments Bank, Airtel Payments Bank and India Post Post Payments Bank among others.

NCR-based Paytm Payments Bank is a separate entity, 51% owned by Sharma and the rest held by One97 Communications.

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