The parent company of Paytm, One 97 Communications, announced that the Reserve Bank of India (RBI) has approved the appointment of veteran banker Surinder Chawla as the new Managing Director and Chief Executive Officer of PPBL for three years. 

Vijay Shekhar Sharma, Chairman of Paytm Payments Bank Board, welcomed Surinder Chawla to the team and said, "I am pleased to welcome Surinder to Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India.”

He further added, “His (Chawla’s) rich experience in banking and deep understanding of the Indian financial landscape will bring the necessary expertise to further empower Paytm Payments Bank's mission.”

On Sunday, One 97 Communications issued a statement saying, with around 29 years of experience, Chawla brings with him an "illustrious career in retail banking” and he will be a great addition to PPBL as it continues to serve customers with its innovative products and services. 

Prior to Surinder Chawla, Satish Kumar Gupta was the CEO of Paytm Payments Bank. He resigned in October 2022, after which Deependra Singh Rathore served as interim CEO of the payments bank. 

Before Paytm, Chawla was associated with RBL Bank as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels.