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'I personally have no connection with Paytm Payments Bank', says Paytm CEO Vijay Shekhar Sharma

Jaya Vishwakarma
New Update
Vijay Shekhar Sharma resigns from Paytm Payments Bank board

Nearly four months after the RBI's action on PPBL, Vijay Shekhar Sharma stated that he has no connection with PPBL and that the board of Paytm Payments Bank is independent and capable of addressing regulatory concerns.

One97 Communications, which owns the Paytm brand, is an associate of Paytm Payments Bank. 

“I, personally or anyone from One97 Communications, have no connection with the payments bank,” he said. “There is an independent board taking care of everything, and we have full faith in their capability,” he added.


In late February, Sharma resigned from his position as the non-executive chairman and board member of Paytm Payments Bank (PPBL).

His departure was aimed at facilitating a smooth transition for the payments bank, according to a statement from One97 Communications Ltd, Paytm's parent company. The company also announced its decision to withdraw its nominee from the PPBL board.

PPBL had appointed four independent directors: Ex-Central Bank of India Chairman Shri Srinivasan Sridhar, retired IAS officer Shri Debendranath Sarangi, former Executive Director of Bank of Baroda Shri Ashok Kumar Garg, and Retd. IAS Smt Rajni Sekhri Sibal.

The company recently launched two new made-in-India soundboxes designed to enhance the transaction experience for merchants across the country.

These devices aim to cater specifically to the needs of the diverse Indian merchant community by supporting multiple languages and offering robust features such as 4G connectivity and long battery life.

The new Paytm soundboxes boast several key features that make them ideal for the bustling and varied environments in which they operate. With powerful speakers and clear audio output, they ensure that payment confirmations can be heard over high-noise conditions typical of many Indian marketplaces.