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Nakul Jain
Paytm Payments Services Limited, a wholly owned subsidiary of Gurugram-based Paytm, announced the resignation of its Managing Director and Chief Executive Officer (CEO), Nakul Jain.
He will step down from his position at the close of business on March 31, 2025, or sooner if both sides agree. According to the company’s statement, Jain plans to pursue an entrepreneurial venture, prompting his departure after joining Paytm in April 2022.
Resignation announcement
Paytm disclosed Jain’s resignation in a stock exchange filing. The company said that it is actively searching for a replacement and aims to maintain its focus on growth and business objectives.
Paytm expressed confidence that the transition will not affect daily operations, emphasizing that its payment aggregation services to existing online merchants will continue without interruption.
Regulatory approval and business updates
Paytm Payments Services Limited recently received government clearance for downstream investment from the Ministry of Finance’s Department of Financial Services.
After securing this foreign direct investment approval, the company resubmitted its application for a payment aggregator license. While awaiting a final decision, Paytm reaffirms its commitment to a compliance-first approach, with a focus on upholding high regulatory standards.
Recent leadership changes
Nakul Jain’s resignation follows a series of leadership changes at Paytm. Surinder Chawla resigned as managing director and CEO of Paytm Payments Bank on April 8 last year.
Around the same time, Paytm founder Vijay Shekhar Sharma stepped down from his position as part-time non-executive chairman and board member. The company also appointed Sidharth Shakdher as business head in October, following his tenure as chief business officer at Ola Mobility.
Paytm recently reported its financial results for the third quarter of the current fiscal year, posting revenue of Rs 1,828 crore and a net loss of Rs 208 crore.