Paytm Payments Services Limited (PPSL) CEO Nakul Jain has announced his resignation, effective March 31, 2025, as confirmed by the company’s parent organization, One97 Communications, in a recent exchange filing. The filing stated, “Nakul Jain, Managing Director and Chief Executive Officer (CEO) of PPSL, has resigned from his position effective at the close of business on March 31, 2025, or an earlier mutually agreed date. Mr. Jain has chosen to embark on an entrepreneurial journey, prompting this decision.”
In light of Jain’s departure, the company is actively seeking a suitable successor. “PPSL is diligently working to identify an appropriate replacement and will make an announcement regarding the new appointment in due course. Meanwhile, PPSL remains committed to driving growth and achieving its business objectives,” the company added.
Jain’s resignation occurs as the fintech firm awaits approval from the Reserve Bank of India for a payment aggregator license. The central bank had previously rejected its application in November 2022 due to non-compliance with foreign direct investment (FDI) regulations. In August 2024, Paytm received government approval for downstream investment into Paytm Payments and subsequently reapplied for the aggregator license.
