Paytm gets RBI approval to appoint veteran banker Surinder Chawla as MD & CEO

9 Jan 2023 , 09:29 AM

Surinder Chawla, a veteran banker, has been appointed as the new Managing Director (MD) and Chief Executive Officer (CEO) of India’s Paytm Payments Bank Limited (PPBL).

The Reserve Bank of India has approved the appointment for a three-year term. Chawla brings with him a distinguished 28-year career in retail banking at institutions such as HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered Bank.

Chawla, a merit-listed Chartered Accountant, joins PPBL from RBL Bank, where he served as Head – Branch Banking and was responsible for growing the CASA base, fee revenue, and cross-selling across channels.

Prior to joining RBL Bank in 2013, Chawla worked for HDFC Bank for about 12 years, culminating in his role as Head of the Retail Liabilities Product Group. Chawla served as the head of the Southern, Eastern, and Northern regions of HDFC Bank as a Senior Executive Vice President at various points in his career.

Chawla’s expertise in the banking industry will be a valuable asset to PPBL as it continues to serve customers with innovative products and services. The appointment will become effective once the necessary regulatory formalities are completed, said Paytm in its media release,

The new hire is part of PPBL’s ongoing efforts to strengthen its leadership team, improve its technology capabilities, and drive financial inclusion in the country. 

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