Paytm Payments Bank Limited (PPBL) is an associate of One97 Communications Limited (OCL).
One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL.
Vijay Shekhar Sharma has a 51 per cent stake in the bank.
Paytm Payments Bank independent director Shinjini Kumar has also resigned from the board with effect from February 1, 2024.
However, the PPBL has not replied to the media query sent in this regard.
RBI has said that persistent non-compliance by PPBL with the regulatory guidelines despite nudges over a period of time ultimately led to stern action against the fintech.
RBI has earlier on June 19, 2018, prohibited PPBL from opening any new account and wallet with effect from June 20, 2018, on account of supervisory concerns, which were lifted by RBI on December 27, 2018, with effect from December 31, 2018.
