The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank for the re-appointment of Paytm CEO, Vijay Shekhar Sharma as part-time chairman for a year, effective from May 23, 2023.
At present, One97 Communications owns a 49% stake in Paytm Payments Bank and Vijay Shekhar Sharma holds the remaining stakes in the entity. Vijay Shekhar Sharma is the promoter of Paytm Payments Bank. Paytm Payments Bank: It was founded in 2017 and is headquartered in Noida.
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. Also, due to sustained improvement in contribution profit and operating leverage, Paytm achieved EBITDA before ESOP valued at ( ₹176 crore) and further reported improved EBITDA by ₹602 crore year-on-year. On May 23, shares of One97 Communications settled 1.78 per cent higher at ₹719.55 apiece on the BSE.
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