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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A new Payments Bank ‘Paytm Payments Bank’ was formally launched at the hands of the Union Finance Minister Arun Jaitley. Who is the Chairman of Paytm Payments Bank?

A	RS Sodhi
B	Suresh Sethi
C	AP Singh
D	Vijay Shekhar Sharma

Explanation:

Detailed explanation-1: -Outlook Web Bureau. CEO Vijay Shekhar Sharma officially launched the Paytm Payments Bank, India’s mobile-first bank, in the presence of finance minister Arun Jaitley on Tuesday.

Detailed explanation-2: -Reserve Bank of India has today, in exercise of its powers, inter alia, under section 35A of the Banking Regulation Act, 1949, directed Paytm Payments Bank Ltd to stop, with immediate effect, onboarding of new customers.

Detailed explanation-3: -Vijay Shekhar Sharma, Chairman of Paytm Payments Bank Board, said, “I am pleased to welcome Surinder to our associate Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India.

Detailed explanation-4: -Listed fintech unicorn Paytm’s parent One97 Communications has appointed Nakul Jain as the CEO of Paytm Payments Services Ltd (PPSL).

Detailed explanation-5: -The Reserve Bank of India’s March 11 move to bar Paytm Payments Bank from onboarding new customers could be due to several reasons including violation in following norms related to Know Your Customer (KYC), data storage, data privacy and outsourcing of data, among others, said experts.

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