In a move that could signal a major shift for Paytm, founder and CEO Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank on Monday. One97 Communications Ltd., the parent company of Paytm, withdrew its nomination of Sharma, who served as the banks part-time non-executive chairman and board member. The filing stated, OCL withdraws its nominee from the Paytm Payments Bank Board and Vijay Shekhar Sharma steps down as part-time non-executive chairman and board member PPBLs future business is to be led by a reconstituted board. A new board has been formed, although details on its composition havent been disclosed yet. This development comes amidst recent regulatory scrutiny faced by Paytms lending arm. (This is a developing story)
