Paytm Appoints G S Sundararajan To Its Board The Board also announced the retirement of independent director, Mark Schwartz, upon the completion of his service tenure

One97 Communications Limited, parent company of digital payments and financial services company, Paytm, has announced the appointment of financial service veteran G S Sundararajan as an independent director on the board, along with the retirement of independent director, Mark Schwartz, upon the completion of his service tenure.

"Having worked with Mark for the last five years, I have gained a friend, mentor and guide who has an exemplary understanding of how businesses can grow and scale. I want to extend my gratitude and thank Mark for his support over the years. I would also like to take this opportunity to welcome G S Sundararajan, a respected leader in the banking and financial industry, to our Board," said Vijay Shekhar Sharma, founder and CEO, Paytm, in a statement.

Commenting on the service tenure and work experience in the company, Mark Schwartz, said in a statement that, "Over my association with Paytm, I have seen the company grow and redefine the digital payments space in India. As I move on from its Board, I remain excited about its future, and will continue to cheer for Paytm. I wish the Paytm team all the best in its future endeavors."

The newly on boarded Sundararajan has an excellent track record in the financial sector. He was earlier the group director of Shriram Group and currently serves on the Board of several reputed companies. He also served as the managing director of SME and asset-based finance business for Citibank India.

"Paytm is a pioneer in the digital payments space in India and a household name. The company's trajectory towards being a financial services giant is phenomenal, as it leverages its digital reach to drive financial inclusion. I'm looking forward to my association with Paytm team," said G S Sundararajan, in a statement, while talking about his appointment.