Resignation of Paytm Payment Bank Director: Paytm Suffered Yet Another Setback

Resignation of Paytm Payment Bank Director: Manju Aggarwal, the director of Paytm Payment Bank, has resigned from his position, as the business has officially announced. At a difficult moment, this is a major setback for Paytm.

Resignation of Paytm Payment Bank Director

Resignation of Paytm Payment Bank Director

Paytm’s issues don’t seem to be getting better. Paytm Payment Bank has been in the news ever since the RBI banned it. In the most recent instance, the director of the firm has left Paytm Payment Bank. which the business has verified.

Manju Aggarwal, the director of Paytm Payment Bank, according to documents submitted to the stock market. On February 1st, he gave the board notice of his resignation. Manju Aggarwal reportedly resigned as a result of the RBI prohibition, according to a report from news agency PTI.

Issues Here As Well

Actually, the Reserve Bank of India prohibited Paytm Payment Bank from accepting new clients during the last week of January. RBI has given the business till February 29th to do this. The director of Paytm Payments Bank has resigned, the business has said.The Indian government has already looked into the business’s dealings with China. China’s foreign investment in Paytm Payment Bank is the subject of an investigation by the authorities.

This Corporation Had a Name Modification

Additionally, the corporation renamed its e-commerce division earlier this week. Pai Platforms is the new name for Paytm’s online store. In addition, the firm increased its foothold in the online retail industry by acquiring Bitsila. Actually, Paytm has undergone a lot of modifications after the RBI’s judgment. It is anticipated that this firm may undergo more adjustments in the near future. A recent poll revealed that individuals are beginning to lose faith in Paytm. This poll indicates that around 49% of small business owners now request that customers use other applications rather than Paytm to make payments.

Also Read: ED Take Action On Paytm: Could the ED go into Paytm for Possible Money Laundering?

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