Vijay Shekhar Sharma is a prominent figure in the Indian financial technology sector, renowned as the Founder and CEO of Paytm. Born in 1978 in Aligarh, Uttar Pradesh, Sharma completed his B.Tech from Delhi College of Engineering (now Delhi Technological University). He founded Paytm in 2011, which quickly became a leading mobile wallet service in India, experiencing exponential growth after the country’s 2016 demonetization.
Recognized for his environmental advocacy, Sharma was appointed UN Environment’s Patron for Clean Air in 2017, actively supporting environmental campaigns. His entrepreneurial journey expanded with strategic investments, including a significant $300 million infusion from Warren Buffett’s Berkshire Hathaway in 2018. Sharma diversified into e-commerce with Paytm Mall and ventured into banking services with the launch of Paytm Payments Bank in 2019, aiming to serve 500 million underserved Indian customers. Despite fluctuations, Sharma’s net worth remains substantial at $1.2 billion, according to Forbes 2022 Billionaires Net Worth.
Reason for Vijay Shekhar Sharma’s Resignation as Paytm Payments Bank Chairman
Vijay Shekhar Sharma recently resigned from his position as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL). This decision comes amidst regulatory actions by the Reserve Bank of India (RBI) concerning compliance issues faced by the fintech firm.
The RBI’s crackdown on PPBL, due to persistent non-compliance and significant supervisory concerns, led to restrictions barring the acceptance of deposits and credits from customers after March 15.
