Paytm director has resigned, another setback for Paytm

Another hit for Paytm. After facing further regulatory scrutiny from the Reserve Bank, the director of Paytm Payments Bank has stepped down. Manju Agarwal, the director of Paytm Payments Bank, has resigned from her position. The company officially confirmed the news on Monday, stating that her resignation was due to personal reasons.

According to the company, Manju Agarwal, the director of Paytm Payments Bank, submitted her resignation on February 1st. She has directly submitted her resignation letter to the board of Paytm Payments Bank.

In the last week of January, the Reserve Bank issued a directive against Paytm Payments Bank, specifically concerning financial transactions. Paytm Payments Bank has been given time until February 29th by the RBI, after which it won't be allowed to accept deposits.

In light of this situation, the company announced last Friday that an advisory committee would be formed to assess the matter. Meanwhile, the company had already applied for a name change for its e-commerce division.

Amidst this atmosphere, a director of the company resigned. This can be seen as another significant setback for Paytm Payments Bank.