Surinder Chawla, who served as Managing Director and Chief Executive Officer (CEO) of Paytm Payments Bank (PPBL) for over a year, has resigned from his position.

In a regulatory filing, Paytm, listed as One 97 Communications, said that Chawla tendered his resignation on April 8, on account of personal reasons and explore better career prospects. He will be relieved from PPBL on June 26, unless changed by mutual consent.

In his previous role, he served as the Head of Branch Banking in India at RBL Bank, from May 2013 to January 2023. Earlier, he spent more than 11 years at HDFC Bank, where his career evolved through various roles, including Senior Executive Vice President and Head of the Retail Liabilities Product Group.

Previously, he was also associated with companies like Citibank, where he served as an Industrial Trainee from 1992 to 1993, and then moved on to Standard Chartered Bank, taking on the role of Zonal Head – Assets from April 1994 to April 2000.

Later, he joined ABN AMRO Bank N.V. in 2000, where he was appointed as the Head of Sales for Credit Cards.

In the regulatory filing, the digital payment firm mentioned, “As informed earlier, nearly all agreements between the Company and PPBL have been terminated as per our disclosure on March 1, 2024, and the board of PPBL has been reconstituted with five independent directors including an Independent Chairperson, and no nominees from the Company, as per our disclosure on February 26, 2024. In line with our ongoing efforts, the Company continues to collaborate with banking partners to enhance our merchant acquiring and UPI services.”