Paytm payments / Vijay Shekhar Sharma resigns from the post of Chairman of Paytm Bank

Paytm payments: Paytm's troubles are showing no sign of abating. After the announcement by RBI to stop the service of Paytm Payments Bank, now Vijay Shekhar Sharma has resigned from the post of Chairman of Paytm Bank. Paytm Payments Bank has announced reconstitution of the board. Let us tell you that after this announcement of the Central Bank, there was a huge decline in the shares of Paytm.

Vijay Shekhar Sharma, who started Paytm, has now been removed from the board of Paytm Payments Bank. The company has given this information by issuing a press release on Monday. Let us tell you that Vijay Shekhar Sharma is the person with the highest number of shareholders in Paytm.

RBI had given relief

A few days ago, there was big news for the customers associated with Paytm Payment Bank. RBI had extended the deadline for Paytm Payments Bank for deposit and credit transactions from 29 February to 15 March. Let us tell you that earlier RBI had given clear instructions that no other banking services, like fund transfer (services like AePS, IMPS etc.), BBPOU and UPI services should be provided by the bank after February 29.

For this reason RBI had taken this decision

RBI has taken the decision to ban the services of Paytm Payments Bank on the basis of deficiencies found in the audit report of the company. The central bank says that irregularities have been found in the information presented by the company. The bank has not clearly stated in its order as to how long this ban is going to continue. From this it becomes clear that Paytm Payments Bank users will not be able to avail the service after one month.