Paytm Payments Bank has received banking regulator RBI's nod to appoint Surinder Chawla as its Managing Director and CEO, the company said in a statement on Sunday.
The RBI, however, continues to bar Paytm Payments Bank from on-boarding new customers.
"Paytm Payments Bank Limited (PPBL) has appointed veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the Reserve Bank of India for a period of three years," the statement said.
Before joining PPBL, Chawla was working with RBL Bank, where he served as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels.
"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," PPBL Chairman Vijay Shekhar Sharma said.