Surinder Chawla

The term for the appointment is three years

Paytm Payments Bank Limited (PPBL) on Sunday received approval from the Reserve Bank of India (RBI) for the appointment of veteran banker Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The term for the appointment is three years. 

Chawla’s 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. Chawla brings with him experience in Retail Banking spanning over 28 years across marquee institutions such as HDFC Bank, RBL Bank, ABN Amro Bank and Standard Chartered Bank.

He is a merit-listed Chartered Accountant, who joins PPBL from RBL Bank, where he 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, Chawla 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 appointment will become effective upon the completion of the requisite regulatory formalities, PPBL said in its BSE filing.

In a statement, Vijay Shekhar Sharma, Chairman of Paytm Payments Bank Board, said, “I am pleased to welcome Surinder to 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.”