CURRENT AFFAIRS

Detailed explanation-1: -One97 Communications’ subsidiary Paytm Payments Bank on Wednesday announced the appointment of Satish Kumar Gupta as the Managing Director (MD) and CEO of the bank. Gupta’s appointment comes months after Renu Satti stepped down as the CEO of the Bank to head the company’s retail segment.

Detailed explanation-2: -Our associate Paytm Payments Bank has received the Reserve Bank of India’s approval to appoint veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the Reserve Bank of India for a period of three years.

Detailed explanation-3: -Paytm AGM 2022: Our MD & CEO Vijay Shekhar Sharma Receives Overwhelming Support from Shareholders. Our shareholders have passed all the resolutions with majority votes in favour.

Detailed explanation-4: -In 2021, the bank received a scheduled bank status from the RBI. Vijay Shekhar Sharma holds 51 per cent in the entity with One97 Communications holding 49 per cent . Vijay Shekhar Sharma is the promoter of Paytm Payments Bank, and One97 Communications Limited is not categorized as one of its promoters.

Detailed explanation-5: -Our associate Paytm Payments Bank Limited (PPBL) has got the final approval from Reserve Bank of India (RBI) to operate as Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems Act, 2007.