Vijay Shekhar Sharma steps down as Paytm Payments Bank chairman, bank's board reconstituted
New Delhi, Feb 26: Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted.
The Reserve Bank has barred the PPBL from accepting deposits and credits from any customer post-March 15 for persistent non-compliances and continued material supervisory concerns in the bank.
PPBL has reconstituted its Board of Directors with the appointment of Ex-Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Executive Director of Bank of Baroda Ashok Kumar Garg, and former IAS officer Rajni Sekhri Sibal, Paytm said in a regulatory filing on Monday.
These persons had recently joined as Independent Directors, it said.
One 97 Communications Ltd (OCL) is the owner of the Paytm brand.
"The company has been separately informed that Vijay Shekhar Sharma has also resigned from the Board of Paytm Payments Bank to enable this transition. PPBL has informed us that they will commence the process of appointing a new Chairman," the filing said.
OCL supports PPBL's move of opting for a board with only independent and executive directors by removing its nominee, it added.
"PPBL's future business to be led by a reconstituted Board," the filing stated.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Trump says he ‘hasn’t even thought about’ continuing Iran ceasefire
Washington: US President Donald Trump has said he has not yet considered whether he would continue the ceasefire involving Iran, while also claiming the United States holds the advantage in negotiations.
Speaking to reporters, Trump said he was prepared to make a deal with “whoever is running the show” in Iran.
“They are fighting with each other, there’s tremendous infighting. They’re probably fighting for leadership in many cases. I think they’re fighting not to be leader because we knocked out two levels of leaders,” he said.
Trump added, “When they want they can call me. We have all the cards, we’ve won everything.”
Referring to ongoing negotiations, he said, “They gave us a paper that should’ve been better. And, interestingly, immediately when I cancelled it [envoy trip to Pakistan], within 10 minutes we got a new paper that was much better.”
“We talked about they will not have a nuclear weapon, very simple … They offered a lot, but not enough,” he added.
When asked whether he would continue the ceasefire, Trump replied, “I haven’t even thought about it.”
The remarks come as uncertainty remains over the future of the temporary truce and broader negotiations between Washington and Tehran.
