Paytm Payments Bank Ltd. (PPBL) has received the Reserve Bank of India’s approval to appoint veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the RBI for a period of three years. Mr. Chawla brings with him an illustrious career in Retail Banking spanning over 28 years across marquee institutions such as HDFC Bank, RBL Bank, ABN Amro Bank and Standard Chartered Bank.

A merit-listed Chartered Accountant, Mr. Chawla served as Head – Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels. Prior to joining RBL Bank in 2013, he spent about 12 years in key senior management positions at HDFC Bank, culminating in his role as Head of the Retail Liabilities Product Group. As Senior Executive Vice President at HDFC Bank, Mr. Chawla also worked as the head for the Southern, Eastern and Northern regions at different points in his career.

The latest appointment comes as part of PPBL’s ongoing efforts to strengthen its leadership team, enhance its technology capabilities and drive financial inclusion in the country. With his wealth of experience in the banking industry, Mr. Chawla’s expertise will be a great addition to the bank as it continues to serve customers with its innovative products and services. The appointment will become effective upon the completion of the requisite regulatory formalities.

Vijay Shekhar Sharma, Chairman of Paytm Payments Bank Board, said: “I am pleased to welcome Surinder to our associate Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India. His rich experience in banking and deep understanding of the Indian financial landscape will bring the necessary expertise to further empower Paytm Payments Bank’s mission.”

Mr. Surinder Chawla said: “I am honored to join Paytm Payments Bank as the new MD and CEO at this fascinating juncture to participate in the ongoing digital banking revolution pioneered by PPBL. I look forward to taking the bank to even greater heights with the team of highly motivated professionals at PPBL. As we continue on our journey to provide accessible, convenient banking options to all of our customers with the highest standards of compliance and operational excellence, I am excited to contribute to our shared mission of driving large-scale financial inclusion.”