Paytm Ropes in For­mer RBI Exec Sure­lia for Pay­ments Bank Ven­ture

The Economic Times - - Companies & Economy - Saloni.Shukla @times­group.com

Mum­bai: Paytm, In­dia’s largest mo­bile pay­ments plat­form, has ap­pointed for­mer Re­serve Bank of In­dia ex­ec­u­tive Vipin Sure­lia as vice-pres­i­dent for risk and com­pli­ance for its soon-to-be-launched pay­ments bank ven­ture.

Prior to this, Vipin worked with the Na­tional Pay­ments Cor­po­ra­tion of In­dia as its head for prod­uct devel­op­ment. He has also worked with the RBI as its deputy gen­eral man­ager, spear­head­ing its var­i­ous pay­ment ini­tia­tives, in­clud­ing the RTGS and NEFT projects. Vipin has also worked with HSBC In­dia in their global pay­ments and cash man­age­ment team and with IBM as so­lu­tion spe­cial­ist for pay­ments.

Over the past few months, Paytm has hired ag­gres­sively to strengthen its lead­er­ship team. In Fe­bru­ary, it ap­pointed Shin­jini Ku­mar, a for­mer cen­tral banker and se­nior ex­ec­u­tive at con­sul­tancy PwC, to head its pay­ments bank ven­ture.

In the next three years, Paytm aims to clock .₹ 10,000 crore in de­posits from the pay­ments bank busi­ness and in­crease its work­force by 3,000. The e-com­merce plat­form has al­ready hired 20-25 se­nior and mid-man­age­ment-level ex­ec­u­tives to kick-start the pay­ments bank oper­a­tions. It has roped in se­nior ex­ec­u­tives from Ama­zon, Air­tel Money, Mckin­sey, KPMG, Bain & Com­pany, etc.

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