THE JHARKHAND STORY DESK
New Delhi, Jan 28: Nakul Jain, the Managing Director and CEO of Paytm Payments Services Ltd (PPSL), has decided to resign and pursue an entrepreneurial venture.
His resignation will take effect on March 31, 2025, or a mutually agreed earlier date. In response, PPSL is actively working to identify a suitable replacement and will announce the new appointment in the near future.
While the company seeks a successor, it remains focused on driving growth and achieving its business objectives.
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Following recent developments, PPSL received approval from the Ministry of Finance, Government of India, for downstream investment into the company. This approval was granted through a letter dated August 27, 2024.
After obtaining Foreign Direct Investment (FDI) approval, PPSL resubmitted its payment aggregator (PA) application, which is currently under review.
Despite awaiting approval, PPSL continues to provide payment aggregation services to its existing merchants and maintains a strong commitment to a compliance-first approach, adhering to high regulatory standards.
