Paytm Money appoints former IRS Rajeev Agarwal as an Independent Director

Paytm Money, a wholly owned subsidiary of One97 Communications Ltd. (Paytm), has appointed Rajeev Krishnamuralilal Agarwal as an additional non-executive independent director on its board.

Agarwal will also serve on the Audit Committee and will chair both the Risk Management Committee and the Corporate Social Responsibility Committee at Paytm Money.

Rajeev Agarwal's experience

Agarwal brings more than 40 years of experience, including 28 years with the Indian Revenue Service. He served as a whole-time member of the Securities and Exchange Board of India, where he helped introduce major market reforms, such as the revival package for the mutual fund industry in 2012 and the merger of the Forward Markets Commission with SEBI in 2015.

He also guided critical changes aimed at boosting transparency, like IPO reforms and the offer-for-sale mechanism for disinvesting public sector units, and he worked to expand funding avenues for small businesses and startups by supporting the growth of the SME exchange.

He currently sits on the board of One97 Communications (Paytm) and is chairman and independent director of Trust Mutual Fund. Agarwal is also an independent director at ACC Ltd., Star Health Insurance, UGRO Capital Ltd. and MK Ventures Capital Ltd.

With his background in governance and risk management, Paytm Money believes his guidance will deepen its commitment to investor empowerment and innovation in India’s fast-growing wealth-tech space.

Leadership comments

“Our mission is to democratize access to financial markets and simplify the investment journey for millions of Indians. Having made significant strides in enhancing our governance framework, we continue to innovate and expand our investment offerings. With Shri Agarwal’s deep expertise in governance and risk management, we are confident that his guidance will further strengthen these efforts and drive long-term, sustainable growth,” said Rakesh Singh, CEO – Paytm Money.

Agarwal joins a board that includes members such as Narasinganallore Venkatesh Srinivasan and Cyrus Khambata, who each have more than four decades of experience in banking, capital markets, finance and risk management.

The platform also offers a ‘Margin Pledge,’ allowing traders to use their stock holdings for leverage in trades, along with the Pay Later (MTF) facility for further leverage. The platform has expanded its range of services, including the launch of BSE Futures & Options (BSE F&O) trading, enabling traders to trade SENSEX and BANKEX Option contracts.