Paytm CEO Nakul Jain resigns, company tells stock market further plan
New Delhi| Paytm Payment Services Limited CEO Nakul Jain has resigned. He has stepped down to start his own business journey. The company gave this information in the stock exchange filing.
“We are looking for a worthy alternative to them, and will announce the new name soon”, the company said. Meanwhile, PPSL is focusing on furthering its growth and meeting its business objectives”
The resignation of the company’s CEO comes at a time when fintech is awaiting central bank approval for its payment aggregator license. In November 2022, the Reserve Bank of India (RBI) had rejected Paytm’s application for non-compliance with FDI norms.
In August 2024, Paytm had received approval from the government for downstream investment in PPSL. Subsequently, the company reapplied for a PA license. PPSL said it will continue to provide payment services to its existing online merchants while awaiting approval.
