In an official announcement, Paytm announced Rama Subramaniam Gandhi, former deputy governor of the Reserve Bank of India (RBI), as its advisor.
Digital payments platform Paytm is strengthening its foothold to overpower its rivals. Paytm has been extensively diversifying and expanding in the past few months. On these lines, Paytm has made sever more acquisitions in the past few months.
Rama Subramaniam Gandhi has three decades of banking experience. He was one of the key planners of the Government’s demonetization stint. He has also been a member of the first Monetary Policy Committee (MPC) and one of the market regulators at Sebi.
Vijay Shekhar Sharma, founder, and CEO, Paytm said “We have focused on building an organization that has the culture and the resources of serving our customers responsibly. Gandhi joins our family to help us achieve this goal.”
Gandhi will bring to the company his years of knowledge and experience on payment systems, regulations, compliance and corporate governance, said the company in a release. “I have dedicated my whole life to formulate policy and strengthen institutions in the financial services space,” Gandhi said.
According to various speculations, WhatsApp with a user base of 200 million Indians, is planning to launch its own payment services soon. The appointment of someone like Rama Subramaniam Gandhi at such a crucial time hints towards many things.