Nakul jain resigns: Nakul Jain, The Managing Director and CEO of Paytm Payments Services Ltd (PPSL), have resigned from his position to imbark on an entrepreneurial jeourney, accounting to the stocker filing (January 28).
Jain has decided to pursue an entrepreneurial journey
“We wish to inform you that paytm payments services Ltd (PPSL) Our Wholly-Owned Material Subsidian Company Has Informed Us..That Nakul Jain, MANAGING DIRECTOR and CHEF EXCECTIVE OKECH Signed from his position wef close of Business hours on March 31, 2025, or an earlier mutually agreed date.
The statement was mentioned that ppsl is actively working on identifying a suitable replacement and will announs the new appointment in Due Course, The filing said adding that in the interim, the creature Ontinuing to meet its business objectives.
“As informed on August 28, 2024, PPSL Received Approval from the Government of India, Ministry of Finance, Department of Financial Services, Via Its Letter Dated August 27, 2024, 2024, 2024, 2024, 2024, Any INTO PPSL, “The filing said.
Post the FDI Approval, PPSL has resubred Its Payment Aggregator (PA) Application. “While It Awaits the Approval of the application, PPSL Continues to Provide Payment Agragation Services to Its Existing Online Merchants. Y Standards, “It Informed.
Paytm Payments Services Awaits RBI Nod
It is pertinent to mention that Jain’s Resignation Comes at a time when the Fintech company is awaiting approval from the reserve bank of India (RBI) for a payment agregator license. The rbi had previously rejected paytm’s application in November 2022 due to non-compliance with FDI norms.
In August 2024, Paytm Received Government Approval for Downstream Investment in Paytm Payments and Subsequently reapped for the aggregator license.
(With pti inputs)
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