Vijay Shekhar Sharma quits as Paytm Bank Chairman

Paytm founder Vijay Shekhar Sharma 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 has also resigned from the Board of Paytm Payments Bank to enable this transition. PPBL has informed us that they will commence the process of appointing a new Chairman," OCL said in a statement.

Also Read: Paytm Payments Bank debacle: Explained