Business & Finance

Paytm Payments Banks Likely To Change Leadership

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Paytm Payments Bank spokesperson said, “We are focused on bringing the best of technology-driven banking to drive financial inclusion”

New Delhi: As the country moves towards digitalisation of the whole banking sector and paperless transactions, Paytm Payments Bank is strengthening its leadership with seasoned executives from the banking and financial services industry.

The bank has appointed Deependra Singh Rathore as the interim chief executive officer (CEO), in addition to his role as chief product & technology officer, according to sources. It will announce the name of the new full-time CEO after receiving regulatory approvals. Satish Gupta, who was the bank’s CEO, is set to retire in October.

Paytm Payments Bank spokesperson said, “We are focused on bringing the best of technology-driven banking to drive financial inclusion. As we continue our journey, we are excited to strengthen our leadership team and have seasoned experts from banking and financial services join us. Paytm Payments Bank remains committed to creating large-scale impact with compliance and operational excellence.”

Also Read: “Banking Sector A Medium Of Good Governance”: PM Modi

With technology-driven solutions, the bank is solving at scale to take on the opportunities in the digital banking sector in India. Strengthening its operations for scale, it has appointed Sunil Chander Sharma, a former IRS officer as chief operating officer (COO). As the COO, he would oversee the functions of customer support, retail operations, legal and Law Enforcement Agencies (LEA) and Human Resources and Administration.

This is happening at the right time because on Sunday, Prime Minister Narendra Modi had just launched 75 digital banking units across states and this means the more banking units the country has, the more transactions will take place.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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“Nirmala Sitharaman Is Misleading People”: Shiv Sena Leader On Fin Min’s ED Remarks

ANI
Manisha Kayende

“ED is being misused the most in the states, where BJP doesn’t have the government and everyone can see this, but Nirmala Ji can’t”: Manisha Kayende

Mumbai: Shiv Sena leader Manisha Kayende attacked Finance Minister Nirmala Sitharaman over her statement that Enforcement Directorate (ED) is not a political tool and is an independent agency saying that she is “misleading” the common people.

While attacking the Finance Minister, she said, “This is a joke. She is misleading people through her statements in a foreign country.” “ED is being misused the most in the states, where BJP doesn’t have the government. Everyone can see this, but Nirmala Ji can’t. It’s wrong to make such statements,” she further said.

She also said that ED was “most active” during the Maha Vikas Aghadi (MVA) regime.

“ED was most active during the MVA government in Maharashtra, but as soon BJP government has come there, it seems ED no longer has any problem. Any person who is being investigated by the ED, if joins BJP, all the cases against him are closed,” she further said.

Also Read: “Banking Sector A Medium Of Good Governance”: PM Modi

Earlier today, Union Finance Minister defended the actions of the Enforcement Directorate (ED) on private capital and civil societies and negated that it is being used as a political weapon.
At a media briefing on her official US visit, she said, “ED is completely independent in what it does, it is an agency that follows predicate offences.”

Answering to question on the Enforcement Directorate and Income Tax Department that these institutions have been used to go after sections of private capital but also civil societies, she said, “The first offence is already picked up by any other agency, whether it is CBI or any other agency and it is forced that ED comes into the picture. ED does not appear at first instance. There are instances which are so standing out and if ED goes there, it is because of some prima facie evidence in their hands and some of them have been covered by media – the quantum of money seized, gold and jewellery seized. They have to act.”

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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