Question
The Reserve Bank of India (RBI) has approved the
re-appointment of Vijay Shekhar Sharma as the part-time chairman of which payments bank?Solution
As per the information given below, the correct answer is option D. The Reserve Bank of India (RBI) has given its nod to Paytm Payments Bank for the re-appointment of Paytm CEO Vijay Shekhar Sharma as part-time chairman for a year, according to a regulatory filing by the fintech firm to the stock exchanges. "We have been informed that Paytm Payments Bank Ltd (PPBL) has received approval of RBI for re-appointment of Mr. Vijay Shekhar Sharma as Part-time Chairman of PPBL, for a third term starting from May 23, 2023, for a period of one year," One97 Communications said in its regulatory filing. One97 holds a 49 per cent stake in PPBL and Sharma holds the rest of the stake in the entity. Paytm's consolidated net loss narrowed to ₹168.4 crore in the fourth quarter of FY23, compared to a loss of ₹761.4 crore in the corresponding quarter of the previous year. In terms of the top-line front, Paytm's revenue from operations stood at ₹2,334.5 crore in Q4FY23, registering a growth of 51.5 per cent from ₹1,540.9 crore in Q4FY22 and up by 13.2 per cent from ₹2,062.2 crore.
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