<p>Following the resignation of Paytm founder Vijay Shekhar Sharma from the Paytm Payments Bank board, the share price of Paytm increased by 5% in early trading on Tuesday. Paytm’s stock dropped 3% but quickly rebounded in the first few minutes, climbing 4.99% to Rs 449.30 on the BSE.</p>
<p><img decoding=”async” class=”alignnone wp-image-450342″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytm-stock-rises-up-to-5-in-early-trading-following-ppbl-board-member-vijay-shekh.jpg” alt=”theindiaprint.com paytm stock rises up to 5 in early trading following ppbl board member vijay shekh” width=”1030″ height=”577″ title=”Paytm Stock Rises Up To 5% In Early Trading Following PPBL Board Member Vijay Shekhar Sharma's Resignation 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytm-stock-rises-up-to-5-in-early-trading-following-ppbl-board-member-vijay-shekh.jpg 300w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytm-stock-rises-up-to-5-in-early-trading-following-ppbl-board-member-vijay-shekh-150×84.jpg 150w” sizes=”(max-width: 1030px) 100vw, 1030px” /></p>
<p>As a result of One97 Communications, the parent company of Paytm, withdrawing its nomination from the Paytm Payments Bank board, Vijay Shekhar Sharma resigned from his position as part-time non-executive chairman and board member in order to start the process of reorganizing the board.</p>
<p>Major limitations have been placed on Paytm Payments Bank by the Reserve Bank of India (RBI), which prohibits it from taking new deposits or completing credit transactions after March 15.</p>
<p>Former Central Bank of India chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Bank of Baroda managing director Ashok Kumar Garg, and retired IAS Rajani Sekri Sibal are among the members of the recently reconstituted board of Paytm Payments Bank Limited (PPBL).</p>
