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MUMBAI: Paytm on Friday said that the firm and its associate entity Paytm Payments Bank have mutually agreed to discontinue various inter-company agreements to “reduce dependencies”. The shareholders of the bank have also agreed to simplify the shareholders’ agreement to support its governance, independent of its shareholders.
The development comes days after Paytm founder & CEO Vijay Shekhar Sharma stepped down as the non-executive chairman of PPBL’s board, marking the end of his seven-year banking stint as a fintech entrepreneur. OCL’s nominee director Bhavesh Gupta too has quit the bank’s board.
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