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According to an exchange declaring, Jain’s resignation is driven by his wish to seek a business endeavor. The separation might take place faster if equally set by both celebrations.
Paytm Payments Bank
Paytm Payments Services Limited (PPSL), the repayments department of One97 Communications, introduced that its Managing Director and CHIEF EXECUTIVE OFFICER, Nakul Jain, will certainly tip down from his setting at the close of company on March 31, 2025. According to an exchange declaring, Jain’s resignation is driven by his wish to seek a business endeavor. The separation might take place faster if equally set by both celebrations.
The business has actually currently started the procedure of locating a follower. “PPSL is proactively working with determining an ideal substitute and will certainly make the statement eventually. In the meanwhile, the business stays concentrated on driving development and attaining its company purposes,” said Paytm Payments Services.
Nakul Jain joined Paytm Payments Services in 2022, bringing with him over 20 years of experience in payments and retail banking, having held leadership roles at Standard Chartered Bank, ICICI Bank, and IndusInd Bank. His resignation comes as PPSL is awaiting the Reserve Bank of India’s (RBI) approval for its payment aggregator license. The RBI had previously rejected the company’s application in November 2022 due to non-compliance with foreign direct investment regulations. After securing government approval for downstream investment in August 2024, the company has reapplied for the license and is awaiting a decision.
This statement complies with One97 Communications’ Q3 FY25 revenues record, which exposed a bottom line of Rs 208.3 crore, somewhat enhanced from the Rs 219.8 crore loss reported throughout the very same quarter the previous year. Revenue from procedures for the quarter decreased by 36% year-on-year to Rs 1,827.8 crore however revealed a 10% consecutive development, driven by greater GMV, membership earnings, and monetary solutions circulation.
