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Oghenekome Irobo

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  1. Paytm payment bank CEO Renu Satti has resigned from her position and will now head the new retail initiative.

    The company has yet not zeroed in on a new CEO. She was appointed CEO of the Payments Bank last year. The company said Satti, who is part of the core team, has been instrumental in launching all the main verticals including e-commerce in creating a merchant base, and will now be key to creating its brand new segment ‘New Retail’.
    The company is planning to raise $500 million for the unit, a model to be used to equip shopkeepers with technology, logistics and marketing capabilities. Under this, consumers can discover nearby pharmacies, groceries and other shops to place an order and get instant deliveries.

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