Surinder Chawla, the Managing Director and CEO of Paytm Payments Bank, has resigned from his position. The resignation was tendered on April 8, 2024, citing personal reasons and a desire to explore better career prospects.
Chawla will be relieved from his duties effective close of business hours on June 26, 2024, unless there is a mutual agreement to change this date. This follows recent regulatory actions by the Reserve Bank of India and changes within the bank's board.
Surinder Chawla joined Paytm Payments Bank as the Managing Director and CEO in January 2023. Given his resignation in April 2024, he served in his role for approximately 1 year and 4 months.
It was under Chawla's leadership that Paytm Payments Bank received approval from the Reserve Bank of India, which is a significant endorsement for any banking institution. He focused on expanding the CASA base, fee revenue, and cross-selling across channels, which are key areas for a payments bank's growth and stability.
A merit-listed Chartered Accountant, Surinder Chawla joined PPBL from RBL Bank, where he served as Head – Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels. Prior to joining RBL Bank in 2013, Chawla spent about 12 years in key senior management positions at HDFC Bank, culminating in his role as Head of the Retail Liabilities Product Group. As Senior Executive Vice President at HDFC Bank, Chawla also worked as the head for the Southern, Eastern and Northern regions at different points in his career.
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