The resignations come close on the heels of president and COO Bhavesh Gupta stepping down from his position to move to an advisory role.
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They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
The battle between four of India’s major fintechs and the payments orchestration leader is being fought on the issues of interoperability and fair competition. Ultimately, though, commercial factors will trump all else.
Vijay Shekhar Sharma has focused on improving compliance, cutting costs and recovering market share after the RBI shut down his payments bank last year. The fintech major is yet to recover to its earlier highs, but its turnaround is gathering momentum.