Satish Kumar Gupta has been appointed as the new Managing Director and Chief Executive Officer of the Paytm Payments Bank on 25th October 2018.
Satish Kumar Gupta would be replacing Renu Satti, who redesignated from her position to head the Paytm bank’s new Chief Operating Officer (COO) of the retail segment.
Satish Kumar Gupta has over 35 years of leadership experience, previously served as the chief product officer at National Payments Corporation of India and the State Bank of India.
Satish Kumar Gupta joined the State Bank of India in April 1979. He held several positions in the Bank and worked as Branch Manager in rural, semi-urban and urban branches for a period of five years, staff training center in Jammu for 2 years, credit appraisal cell for four years and the corporate center in Mumbai for 8 years.
Paytm Payments Bank is a mobile-first bank with zero charges on all online transactions (such as IMPS, NEFT, RTGS) and no minimum balance requirement. It was launched on 23rd May 2017.
Paytm Payments Bank currently offers an interest rate of 4% per annum for savings accounts. According to RBI guidelines, the payments bank is allowed to accept demand deposits of up to Rs 1 Lakh.
Headquarters: Noida, Uttar Pradesh
Note: Other payments banks in the country include Fino Payments Bank, Airtel Payments Bank, and India Post Post Payments Bank.