Paytm to scrap agreements with financial institution unit – Occasions of India

MUMBAI: Paytm on Friday stated that the agency and its affiliate entity Paytm Funds Financial institution have mutually agreed to discontinue varied inter-company agreements to “cut back dependencies”. The shareholders of the financial institution have additionally agreed to simplify the shareholders’ settlement to help its governance, unbiased of its shareholders.
The event comes days after Paytm founder & CEO Vijay Shekhar Sharma stepped down because the non-executive chairman of PPBL’s board, marking the tip of his seven-year banking stint as a fintech entrepreneur. OCL’s nominee director Bhavesh Gupta has additionally give up the financial institution’s board.