Photo credit: Paytm

Indian fintech giant Paytm has announced that Surinder Chawla, CEO and managing director its banking unit, will resign on June 26 for personal reasons. The move comes about a month after the Reserve Bank of India (RBI) ordered Paytm Payments Bank to shut down operations.

Paytm founder Vijay Shekhar Sharma also quit the bank’s board in February. Sharma holds 51% of Paytm Payments Bank’s shares while the rest are held by Paytm parent company One 97 Communications.