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"Career Break Due To Personal Reasons": Paytm COO Bhavesh Gupta Resigns
May 05, 2024 04:38 pm

Divya Delhi :The parent company of Paytm, One97 Communications, announced on Saturday that its president and chief operating officer, Bhavesh Gupta, has tendered his resignation.At Paytm, Mr. Gupta oversaw, among other things, the lending division, offline and online payments, and compliance. Under his leadership, verticals were negatively affected by the RBI's prohibition on Paytm Payments Bank (PPBL) conducting new transactions."For personal reasons, Bhash Gupta, President and Chief Operating Officer, has decided to take a career break from his position as overseer of the payments and lending operations. "Until the end of the year, he will transition to an advisory role where he will provide direction for Paytm's growth initiatives," the statement continued.Gupta joined Paytm from Clix Capital, formerly GE Capital, in August 2020.On May 31st, he will be terminated from his employment with the organization.Paytm had projected a loss of 300-500 crores as a result of the RBI's PPBL restriction.It recently resumed its lending operations, which it reportedly ceased operating.In accordance with a reorganisation of its top management, the fintech company Paytm has designated Rakesh Singh as the CEO of Paytm Money."Recently, Paytm Money Ltd. appointed Rakesh Singh as its new chief executive officer.".