Paytm Payments CEO Nakul Jain steps down amid awaited RBI approval for aggregator licence
The parent company of Paytm Payments Services Limited, One97 Communications,
Announced in an exchange filing on Monday that CEO Nakul Jain will step down on March 31, 2025.
The Managing Director and Chief Executive Officer (CEO) of PPSL, Nakul Jain, has resigned from his position on March 31, 2025,
An earlier date that has been mutually agreed upon. The exchange filing stated, “Mr. Jain has made the decision to embark on an entrepreneurial journey.”
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Nakul Jain made this choice because she intends to pursue an entrepreneurial career. The business is trying to find someone who can take Jain’s role. “PPSL is in the process of finding a qualified replacement and will make the announcement as soon as possible. While this is going on, PPSL is still committed to expanding and achieving its goals, the company stated.
Paytm Payments Services awaits RBI nod
As the fintech startup awaits approval from the Reserve Bank of India for a payment aggregator license, Nakul Jain resigned. In November 2022, the central bank denied its application on the grounds that it did not adhere to FDI regulations. The government gave Paytm permission to invest downstream in Paytm Payments in August 2024. The business then submitted another application for an aggregator license.
Paytm Q3FY25 results
On January 20, One97 Communications released its earnings for the quarter that concluded on December 31, 2024. A net loss of ₹208.3 crore was revealed by the parent company of the financial giant Paytm. From ₹219.8 crore recorded in the same quarter last year, the net loss decreased. While Paytm’s revenue increased 10% sequentially, its consolidated revenue from operations for the third quarter of the current fiscal year decreased 36% year-over-year (YoY) to ₹1,827.8 crore from ₹2,850.5 crore.
