One97 Communications Limited (OCL), the parent company of Paytm, has announced significant leadership changes aimed at strengthening its position in the payment and financial services sector. Bhavesh Gupta, who served as President and Chief Operating Officer overseeing payments and lending, will be transitioning to an advisory role due to personal reasons. This move comes as OCL aims to bolster its leadership team to further develop its payment and financial services distribution business.
Vijay Shekhar Sharma, Founder and CEO of Paytm, expressed gratitude for Gupta's contributions and emphasized the company’s continued focus on expanding its payments and lending initiatives. The company has also undergone leadership transitions within its subsidiaries, with Rakesh Singh appointed as the new CEO of Paytm Money Ltd (PML) and Varun Sridhar assuming the role of CEO at Paytm Services Pvt Ltd (PSPL). Sharma highlighted their commitment to enhancing Paytm’s role in mutual funds and wealth management products under Sridhar’s leadership, emphasizing technology-driven solutions aimed at the Indian market. These changes reflect OCL's strategic efforts to fortify its market presence and capitalize on opportunities in India’s rapidly evolving fintech landscape.
