Paytm COO Bhavesh Gupta resigns; company rejigs senior management

Paytm’s parent company One97 Communications president and chief operating officer Bhavesh Gupta has resigned from the company, an official statement said on Saturday.

Gupta was steering the lending business, online and offline payments, and compliances, among others, at Paytm. Verticals, headed by him, were adversely impacted by the RBI’s ban on Paytm Payments Bank (PPBL) from carrying on new transactions.

“Bhavesh Gupta, President and Chief Operating Officer, who was overseeing the payments and lending businesses, has decided to take a career break due to personal reasons. He will be transitioning to an advisory role, offering guidance for Paytm’s growth initiatives until the end of the year,” the statement said.