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IAS Bimal Julka and Paytm Founder and CEO Vijay Shekhar Sharma
Gurugram-based fintech major Paytm has announced the appointment of former IAS officer Bimal Julka as a Non-Executive Independent Director, starting January 20, 2025.
The company’s board approved his appointment on Monday, and the role will be for five years, subject to approval from shareholders and compliance with the Companies Act, 2013, and SEBI Listing Regulations.
Who is Bimal Julka?
Julka is a former IAS officer who comes from the 1979 batch of the Madhya Pradesh cadre and served as Chief Information Commissioner after holding key positions in several government ministries.
He has a long administrative record in areas such as Civil Aviation, Information and Broadcasting, External Affairs, Finance, Commerce, and Public Relations.
He led impactful projects during his career, including significant reforms in various ministries. Julka also served as Chief Secretary to the Madhya Pradesh government, playing a crucial role in resolving the Bhopal Gas tragedy and winning recognition for his leadership.
Boost to governance and strategy
By bringing his expertise in public policy, administration, and business strategy, Julka is expected to help strengthen Paytm’s governance framework.
The company believes his wide-ranging experience will support its decision-making processes and strategic goals. Paytm also confirmed that Julka is not related to any existing directors and is not debarred from holding a directorship by any regulatory authority.
International expansion
Along with announcing Julka’s appointment, Paytm’s board approved plans for significant global growth. Its subsidiary, Paytm Cloud Technologies (PCTL), will set up new subsidiaries in the United Arab Emirates, Saudi Arabia, and Singapore.
These entities are part of Paytm’s push to broaden its reach across international markets that show a strong interest in digital payments and financial technology services.
According to Paytm, the expansion will open new opportunities and boost its presence in fast-growing regions, which aligns with its vision of becoming a leading digital finance platform worldwide.