Surinder Chawla resigned from his position on April 8, One 97 Communications, as per reports.
The development comes almost a month after Paytm Payments Bank stopped basic banking services under instructions from the Reserve Bank of India (RBI).
As per reports, Paytm has snapped all relations with PPBL and the board of the bank has been reconstituted with five independent directors along with an independent chairperson.
Chawla sent in his resignation citing personal reasons and to pursue ‘better career prospects’.
Chawla had joined the payment bank on January 9 last year. Prior to that, he was with RBL Bank as the head of branch banking. He has almost three decades of experience in the banking sector and was previously associated with HDFC Bank, Standard Chartered Bank and others.
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