Paytm Payments Bank appoints Sudhanshu Jain as CFO

Paytm Payments Bank (PPB) today said it has appointed former ICICI Bank executive, Sudhanshu Jain as its Chief Financial Officer.

In his current role at Paytm, he will be in charge of all financial andregulatory management functions for the Payments Bank and play a key role in overseeing its finances and expansion plans, PPB said in a statement.

Jain comes with around 14 years of experience across internal audit, finance and borrowings roles among others, it added.

Prior to joining PPB, Jain served as the Head of Borrowing (Foreign Currency) at ICICI Bank. He has also worked as an auditor at IPCALaboratories.
 

"I am confident his expertise in financial services will help us build innovative digital-first offerings for our users. It would also help us in ourexpansion efforts of reaching half a billion userswith a first-of-its-kind banking model," PPB MD and CEO Renu Satti said.

Paytm -- which also offers mobile wallet services -- commenced its payments bank operations earlier this year. Paytm founder Vijay Shekhar Sharma holds the majority share in PPB, while the rest being held by Alibaba-backed One97 Communications.

However, the Chinese entity does not have a direct shareholding in the payments bank.