Paytm COO and President Bhavesh Gupta resigns for personal reasons

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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One 97 Communications Ltd, the parent company of fintech firm Paytm, said that Bhavesh Gupta has stepped down as its president and chief operating officer (COO).

Gupta’s resignation will be effective from May 31, 2024. He, however, will continue in the company as an advisor in the CEO office after May 31, Paytm said in a stock exchange filing on Saturday (May 4).

Gupta has resigned due to “personal reasons”, and said that this conversation was “ongoing”.

Last year in May, he was appointed as the president and COO of the company.

Prior to joining Paytm in 2020, Gupta held roles including CEO of Clix Capital (formerly known as GE Capital), head of SME and business banking at IDFC Bank.

In his role as president and COO of the company, Gupta was responsible for leading verticals of lending, insurance, payments – online and offline, consumer payments, and drive key initiatives including user growth, operations risk, fraud risk and compliance

Shares of One 97 Communications Ltd. settled 0.59% lower at ₹370 apiece on the NSE on Friday. The stock has tumbled nearly 50% in 2024 so far.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow