Paytm Money, a wholly-owned subsidiary of One 97 Communications, has appointed Narasinganallore Venkatesh Srinivasan as a non-executive independent director to its board. The company announced the appointment today in an official statement.

Srinivasan brings extensive experience from his previous role as the Chief Executive Officer of the Association of Mutual Funds in India (AMFI). Before joining AMFI, he served as Chief Financial Officer and Executive Director at Lakshmi Vilas Bank and held key leadership roles at IDBI Bank for nearly two decades.

This strategic appointment is part of Paytm Money’s ongoing efforts to strengthen its governance and compliance framework. The move follows a series of similar initiatives by the company’s parent entity, One 97 Communications, including the recent nomination of Indian Revenue Service officer Rajeev Agarwal to its board.

Rakesh Singh, CEO and Whole-Time Director of Paytm Money, emphasized the significance of Srinivasan’s appointment, noting, “We have built a strong consumer-centric platform over the past few years, with governance at the forefront of our efforts. Srinivasan’s deep understanding of regulations and financial markets will further enhance our commitment to these principles”.

Srinivasan joins an already robust board that includes Cyrus Khambata, an independent non-executive director who has held various leadership positions at the Central Depository Services (India) Ltd (CDSL).

The appointment reflects Paytm Money’s focus on bolstering its board with seasoned industry veterans as it continues to scale its operations and ensure regulatory compliance in India’s evolving financial landscape.