Former Citibank executives to lead banking operations at Paytm’s payments bank

Paytm, the Noida-headquartered digital payments solutions company has made some top-level additions to its payments bank arm, with Ruchita Taneja Aggarwal and Priya Karnik from Citibank India being hired as head of banking operations and head of product development for banking operations, respectively.

Aggarwal worked as the director of treasury and trade solutions and Singapore head for regional product sales at Citibank, while Karnik was director of treasury and trade solutions, regional implementation.

With these appointments, the payments arm of the Alibaba-backed company has got its leadership team across FMCG, consultancy, banking and e-commerce businesses before its banking services roll-out in August.

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It was earlier this year that Shinjini Kumar from RBI and PwC was hired for Paytm’s payments bank, which was followed by Vikas Purohit from Amazon, Kshitij Sanghi from McKinsey, Varun Khullar from ITC and Vipin Surelia from the RBI, who were all taken in as VPs of various verticals.

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"It is no secret Paytm is expanding and diversifying at an exponential rate. Joining the organisation gives me an unparalleled opportunity to work with some of the most well-known industry thought leaders who are trying to build something new and unique," Karnik was quoted saying.

Amit Sinha, vice president at Paytm said, "We are committed to keep enhancing our services and product portfolio. We are confident that with (Aggarwal and Karnik) on board, we will be able to drive greater growth and success."