Paytm Money Appoints New Independent Director

New Delhi, Feb 13 (PTI) Fintech firm One97 Communications, owner of Paytm brand, on Thursday announced the appointment of Rajeev Krishnamuralilal Agarwal as the additional non-executive independent director of its wholly-owned subsidiary Paytm Money.

He will also serve as a member of the Audit Committee and the Chairperson of the Risk Management Committee and the Corporate Social Responsibility (CSR) Committee at Paytm Money, according to a company statement.

Agarwal holds over 40 years of experience, having served a 28-year tenure with the Indian Revenue Services (IRS).

He was also a whole-time member of SEBI, where he played a key role in driving key market reforms, including the revival package for the mutual fund industry in 2012 and the landmark merger of the Forward Markets Commission with SEBI in 2015.

He has led initiatives such as enhancing transparency through IPO reforms, introducing the offer-for-sale mechanism for PSU disinvestment, and championing the growth of the SME exchange, among others.

In addition to his new role at Paytm Money, Agarwal also serves on the board of One97 Communications.

He also simultaneously holds key positions as Chairman and Independent Director at Trust Mutual Fund and as Independent Director at ACC Ltd, Star Health Insurance, UGRO Capital Ltd, and MK Ventures Capital Ltd.

"Having made significant strides in enhancing our governance framework, we continue to innovate and expand our investment offerings. With Agarwal's deep expertise in governance and risk management, we are confident that his guidance will further strengthen these efforts and drive long-term, sustainable growth," Paytm Money CEO Rakesh Singh said.