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Updated 19:29 IST, January 28th 2025

Nakul Jain Steps Down As PayTM CEO And MD - Details

The digital payment platform said that it is looking for a replacement, in its filing.

Reported by: Business Desk
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Paytm
Paytm | Image: Shutterstock

Nakul Jain, the Managing Director and CEO of Paytm Payments Services Limited (PPSL) has stepped down from his position to pursue his own entrepreneurial venture, according to a stock exchange filing filed by the company on Monday.

The digital payment platform said that it is looking for a replacement, in its filing.

Nakul Jain Steps Down As PayTM CEO And MD - Details

"Nakul Jain, Managing Director and Chief Executive Officer of PPSL, has resigned from his position w.e.f. close of business hours on March 31, 2025 or an earlier mutually agreed date. Mr Jain has decided to pursue an entrepreneurial journey, which has led him to this decision” said the filing.

"PPSL is actively working on identifying a suitable replacement and will announce the new appointment in due course. In the interim, PPSL remains focused on driving its growth and continuing to meet its business objectives," the statement said.

This comes amid the fintech company's wait for the central bank's approval for its payment aggregator licence.

While it awaits approval, PPSL has stated that it continues to offer payment aggregation services to its existing online merchants.

Nakul Jain joined PPSL as MD and CEO in 2022. Before this, he has held senior leadership roles, including Managing Director of private banking, priority banking, deposits, and branch banking at Standard Chartered Bank. With over two decades of experience in payments and retail banking, he has also held various positions at ICICI Bank for nearly 16 years and served as Executive Vice President at IndusInd Bank between 2015 and 2017.

Published 17:14 IST, January 28th 2025