One97 Communications (Paytm) has received approval from board of directors for discontinuation of inter-company pacts with Paytm Payments Bank (PPBL) to reduce dependencies. The move assumes significance as Paytm Payments Bank is under the RBI’s lens over persistent non-compliance and continued material supervisory concerns.
Also, the shareholders of PPBL have agreed to simplify the Shareholders Agreement (SHA) to support PPBL’s governance, independent of its shareholders. The Board of Paytm approved the termination of agreements and amendment of SHA on March 1, 2024.
One97 Communications (Paytm) is India's leading digital ecosystem for consumers as well as merchants.
