Paytm confirms resignation of independent director at banking arm
Upstox
1 min read • Updated: February 12, 2024, 11:50 AM
Summary
Independent director at its banking arm having resigned. Manju Agarwal resigned from the board of Paytm Payments Bank on Feb 1 citing personal commitments
"We hereby submit that our associate entity, Paytm Payments Bank Limited (PPBL), has informed us that Ms. Manju Agarwal, Independent Director resigned from the Board of PPBL on February 01, 2024, due to her personal commitments which was noted by PPBL Board on February 06, 2024.", Paytm said in an exchange filing today after the media reported of the resignation on Friday.
Earlier, the financial technology company said that it would form an advisory committee on compliance and regulatory matters, a week after RBI ordered Paytm Payments Bank to wind down most of its operations By 29 February. To read more on this, click here
In the exchange filing, the company further said, “We hereby submit that PPBL is our associate entity and this event is not deemed material for the Company and does not impact the operations / business of the Company, as per the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).”
The Paytm stock today opened higher and was trading at ₹423.65 around 11:30 am.