The Board of One 97 Communications Limited (OCL, or the Company), which owns the brand Paytm, The Group Advisory Committee would consist of 3 members chaired by M. Damodaran.
An expert in corporate governance, restructuring and regulatory leadership, Meleveetil Damodaran, will serve as the Chairperson of the Committee. He has previously served as Chairman of the Securities and Exchange Board of India (SEBI), and has chaired high-powered committees for the Government of India and Reserve Bank of India (RBI) and was also elected Chairman of the EMC of the International Organization of Securities Commission (IOSCO).
The other committee member and a veteran professional in the area of finance, Mukund Manohar Chitale, former President of Institute of Chartered Accountants of India (ICAI), former Chairman of the National Advisory Committee on Accounting Standards (NACAS), a former governing Council Member of Banking Codes and Standard Board of India nominated by RBI, and a member of the Primary Advisory Market Committee of SEBI, and lastly,
Ramachandran Rajaraman, a banking expert, former Chairman and Managing Director of Andhra Bank, a former Whole Time Director of Syndicate Bank, and a member of the Advisory Board at Central Vigilance Commission will be part of the committee working in close contact with the board in strengthening compliance and regulatory matters.
The committee will guide on compliance and regulatory measures, post India’s central bank RBI had put restrictions on operations of Paytm Payments Bank.
