NEW DELHI: Financial services company Paytm said on Monday that Vijay Shekhar Sharma has stepped down as Non-Executive Chairman and Board Member of Paytm Payments Bank Ltd (PPBL).

In a BSE filing, the company said that the PPBL has reconstituted the Board with Central Bank of India's former Chairman Srinivasan Sridhar, retired IAS officers Debendranath Sarangi, and Rajni Sekhri Sibal, and Bank of Baroda's former Executive Director Ashok Kumar Garg.

"OCL withdraws its nominee from the Paytm Payments Bank Board and Vijay Shekhar Sharma steps down as Part-Time non-executive Chairman and Board member," it said in the filing.

PPBL's future business will be led by a reconstituted Board One 97 Communications Ltd (OCL), after the RBI ban on the bank operations from March 15.