Paytm Payments CEO Nakul Jain Steps Down to Pursue Entrepreneurial Venture

-He will be free from the services from his duties at Paytm Payments on March 31, 2025.

-The company further informed in the filing that it is yet to identify a replacement for the position.

-Last year in August, Paytm Payments Services Ltd (PPSL) has been granted an extension by the Reserve Bank of India (RBI) to resubmit its application for a payment aggregator (PA) license.

Nakul Jain, the MD & chief executive officer of Paytm Payments Services Limited (PPSL), has stepped down from his position to pursue an entrepreneurial venture. Paytm announced his resignation in a stock exchange filing yesterday. 

Jain joined Paytm Payments in April 2022 and has played a key role in driving the growth and expansion of Paytm Payments. He will be relieved from his duties at Paytm Payments on March 31, 2025. 

The company further informed in the filing that it is yet to identify a replacement for the position. “PPSL is actively working on identifying a suitable replacement and will announce the new appointment in due course. In the interim, PPSL remains focused on driving its growth and continuing to meet its business objectives.”  

Further, the announcement from Paytm mentioned that Jain is leaving to focus on a new entrepreneurial venture, although further details about the nature of this venture haven’t been disclosed yet. 

Before Joining Paytm, Jain worked with Standard Chartered Bank from 2017 to 2022 as MD. Prior to that, he was with Indusland Bank & ICICI Bank.

Last year in August, Paytm Payments Services Ltd (PPSL) has been granted an extension by the Reserve Bank of India (RBI) to resubmit its application for a payment aggregator (PA) license, according to a regulatory filing by One97 Communications, the parent company of PPSL.

In March 2020, the RBI had made it mandatory for all payment aggregators (PAs) to be authorized by the regulator, as part of the new guidelines issued then. 

Non-bank companies providing PA services were instructed to apply for authorization by June 30, 2021, a deadline that was later extended to September 30, 2021.