Paytm Payments Bank gets RBI approval to appoint Surinder Chawla as MD and CEO

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26 Aug, 2025 12:21

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One 97 Communications, the parent company of Paytm, on January 8 said 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 Paytm Payments Bank (PPBL). The appointment has been approved by for a period of three years.

In a statement, the company said that Chawla brings with him an "illustrious career in retail banking" spanning over 28 years across
marquee institutions such as HDFC Bank, RBL Bank, ABN Amro Bank and Standard Chartered Bank.

Paytm also stated that the latest appointment comes as part of Paytm Payment Bank's ongoing efforts to strengthen its leadership team, enhance its technology capabilities and drive financial inclusion in the country.

It added that Chawla's experience will be a great addition to PPBL as it continues to serve customers with its innovative products and services.

Commenting on the appointment approval, Vijay Shekhar Sharma, Chairman of Paytm Payments Bank Board, 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. His 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 his appointment Chawla added, "As we continue on our journey to provide accessible, convenient banking options to all of our customers with the highest standards of compliance and operational excellence, I am excited to contribute to our shared mission of driving large-scale financial inclusion."

Prior to Paytm, Chawla was working with RBL Bank as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels. He is a merit-listed Chartered Accountant, as per the company statement.

Paytm Payments Bank has the largest scale in India, in terms of mobile transactions. The bank offers digital payment and banking experience with its mobile-only savings accounts, current accounts, fixed deposits with partner banks, and payment instruments like wallets, UPI, FASTag among other services to Indians.